Official Investing Thread

Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.

  1. Baseballman86

    Baseballman86 Well-Known Member

    I might nibble on a super cheap put for a few restaurants just in case we have to shut down again. Cheap lotto type play that will undoubtedly result in a loss. But like a 2% chance at a yacht
     
    HuskerInMiami likes this.
  2. g8r

    g8r Well-Known Member
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    Gonna need Boeing to get back above $200 soon.
     
  3. HuskerGuy99

    HuskerGuy99 Above Average Member

    BA volume intensified this could run up and SPY will follow. May hit SPY 310 here.
     
  4. HuskerGuy99

    HuskerGuy99 Above Average Member

    Futures also now attacking 3060 resistance. Moonblast if we shoot thru that.
     
  5. Stagger Lee

    Stagger Lee Crazy. Sexy. Cool.
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    Did I miss some news? What was the catalyst for the market breakout?
     
  6. HuskerGuy99

    HuskerGuy99 Above Average Member

    No catalyst they are just fucking with us. BA volume hitting nearly a million per 5 minutes right now. Probably not stopping until end of trade hours.
     
  7. Baseballman86

    Baseballman86 Well-Known Member

    Annnnd the rocket has launched. Next stop, moon?
     
  8. HuskerGuy99

    HuskerGuy99 Above Average Member

    BA faltering a bit at 175 line. Also have a 176.50, 180, 185 line on my notes. This could determine how hard we run.
     
  9. gordon bombay

    gordon bombay magician's alliance enthusiast
    Georgia Tech Yellow JacketsAtlanta BravesAtlanta HawksAtlanta Falcons

    I sold off my short positions, hoping that we can ride a wave higher to 7/4, will look to re-enter some then
     
  10. HuskerGuy99

    HuskerGuy99 Above Average Member

    Guess we'll leave it up to the overnighters. 1.5 million volume buying surge in BA last 5 minutes.
     
  11. southside

    southside Well-Known Member
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    top of SPX range at 3099 and bottom VIX at 30.08...getting spicy
     
  12. HuskerGuy99

    HuskerGuy99 Above Average Member

    Futures also closing strong above 3070 right now. Short-term looks bullish again.
     
  13. southside

    southside Well-Known Member
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    If 3099 hits then Vix is likely close to 30 and I’m going yard with puts
     
  14. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    Now very pleased that I did this yesterday. Lost 4500 today. Could have been worse
     
  15. Jesse Palmer

    Jesse Palmer Hair Product & Roses
    Donor

    :dennard::golfclap::rain:
     
  16. gordon bombay

    gordon bombay magician's alliance enthusiast
    Georgia Tech Yellow JacketsAtlanta BravesAtlanta HawksAtlanta Falcons

    FSLY has been on another planet
     
    Baseballman86 likes this.
  17. HuskerGuy99

    HuskerGuy99 Above Average Member

    lol it's almost always like that brother. You did a good thing selling half yesterday. With that said, you bought yourself plenty of time, so the time to panic has not come. Could have panic sold my GS puts today when they shot up $8 out of nowhere but now I'm looking at GS down $8 after hours so right back in business there with plenty of time.
     
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  18. pacey

    pacey Well-Known Member
    Donor

    Yesterday’s late 300 point rally appeared to be an attempt to retrace some of Wednesday’s 700 point loss. The rally reached an intraday high of 25,769, so it was about 200+ points shy of Tuesday’s ‘Island Reversal’ gap at the 25,993 level. During a major decline, gaps are natural targets for a retracement. The Japanese call this ‘closing the window’. But because this ‘window’ was part of an ‘Island Reversal’, I don’t believe it will be closed. It’s still possible that the Dow could stage a small rally from yesterday’s close, but the odds are high that the rally will not exceed 26,000.

    Yesterday’s rally only changed the Sector Ratio slightly. As we go into today’s session, the Ratio is 14-10 positive with Energy, Cap Goods, Material, Household Products, and Autos at the top of the Strong List. The Weak List was led by Utilities, Healthcare, PharmaBio, Telecoms, and Leisure. Looking at the Weak List, with Healthcare and PharmaBio being highlighted, I think you should pay attention to stocks and ETFs in this area, especially if you currently own them. Two days ago, Medtronic was highlighted by my trend algorithm as a short after dropping 4.46 points. The thing I found disturbing was that during yesterday’s rally, the stock did not participate. This tells me that healthcare stocks, like MDT, could be in for some real trouble once Wave 3 down gets rolling. Like I said, be careful if you own them.

    After yesterday’s rally, the market is overbought and set up for some type of decline. The thing I’ll be watching is to see if the decline begins to look impulsive. An impulsive move to the downside now would increase the odds that Wave 3 down is underway.

    h
     
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  19. pacey

    pacey Well-Known Member
    Donor

    Stagger Lee hey check your charts, I am seeing a decent down day coming per the DXD chart. Crossed the 4hr yesterday and the after hours has us back above the 1hr with positive indicators. I think that rally at the end of the day yesterday will help convince people to take profits today. Nike missing is going to trigger hedge funds to move money as well.
     
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  20. Stagger Lee

    Stagger Lee Crazy. Sexy. Cool.
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    I bought a bunch of SDOW yesterday. Here for the ride.

    I also own some Nike though :/
     
    Houndster likes this.
  21. pacey

    pacey Well-Known Member
    Donor

    I am thinking I may buy some Nike shortly so i can make some money on it's bounce. 92/90 will be my target. I will throw a few grand on SDOW and ride that with you today as a scalp.
     
    Stagger Lee likes this.
  22. pacey

    pacey Well-Known Member
    Donor

    Well the first hour has been great. Stops are all in so even if the market turns today was a good day.
     
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  23. Stagger Lee

    Stagger Lee Crazy. Sexy. Cool.
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    I had to step into a meeting and arbitrarily placed a stop loss way too high, and it triggered at $25.28. I was in a rush and didn't have time to think it through.
     
  24. billdozer

    billdozer Well-Known Member
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    Clemson TigersCarolina Panthers

    I bought SPXS, same thing for me.
     
  25. southside

    southside Well-Known Member
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  26. Stagger Lee

    Stagger Lee Crazy. Sexy. Cool.
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    Starting to see some TSI, RSI, and MACD negative divergence on the 2 min. Went ahead and sold the rest of my SDOW at $26.10. Will reestablish a position when price moves back to the VWAP or 20 SMA
     
  27. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    Spy testing 301. If that happens, damn
     
  28. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    guess its time to start getting some money in for the long run
     
  29. Baseballman86

    Baseballman86 Well-Known Member

    Good
    SPY puts
    DRI puts
    FSLY calls
    KR calls

    Horrible
    TLRY calls
    FB Calls

    Overall net - +0.31%
     
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  30. Baseballman86

    Baseballman86 Well-Known Member

    Is the expectation that it could fall off a cliff if it drops below that?
     
  31. pacey

    pacey Well-Known Member
    Donor

    I think the resistance is 300 and then if we break that it is 280. Once 280 is broken the market is FUCKED
     
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  32. HuskerGuy99

    HuskerGuy99 Above Average Member

    301 and 300 is what I have seen in terms of support. 303 is what we want for resistance now. I have SPY 298 puts ready to roll. Busiest morning in a while for me.
     
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  33. pacey

    pacey Well-Known Member
    Donor

    Because I am entirely inverse i guess the terms are reversed for me.
     
  34. HuskerGuy99

    HuskerGuy99 Above Average Member

    There are a ton of levels between 280 and 300. 280 is very strong resistance as well.
     
  35. pacey

    pacey Well-Known Member
    Donor

    I don't think anything stops the drop from 300 to 280.

    When the levee breaks I'll have no place to stay.
    Going down, going down now, going down
    Going down now, going down
    Going down, going down, going down

    Going down now, going down
    Going down now, going down
    Going down now, going down
    Going d-d-d-d-down
    Woo, woo
     
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  36. pacey

    pacey Well-Known Member
    Donor

    280 SPY is only 1,200 points away on the DOW. that can easily be hit next week.
     
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  37. HuskerGuy99

    HuskerGuy99 Above Average Member

    Ahh, I'm just daytrading the range right now. 301-303. Yeah we could hit 280 in a week easily with a gap down night. But the levels in that range have been strong. 298 293 291 all have to be handled first.
     
  38. The Hebrew Husker

    Donor
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    As someone who doesn’t day trade/pay attention to volume as close as you guys. I ask this as a novice just out of curiosity.

    Looking at SPY I see a random spike in volume around 12:10EST when it got to 301.25 it looks like. For lack of a better term what happened right there?
     
  39. ohhaithur

    ohhaithur e-Batman
    Donor

    Just bought a July 6 SPY put, you doomsdaysayers got to me
     
  40. HuskerGuy99

    HuskerGuy99 Above Average Member

    Computer buying kicked in. 301 is the support level it wants to defend. If selling volume is high enough it will punch down. The opposite can happen at resistance levels.
     
  41. HuskerGuy99

    HuskerGuy99 Above Average Member

    I am not really holding anything for more than a few days. Especially short-term options like that. Ideally I am holding those for less than an hour. Just be ready to snag money and get out when you can.
     
    Stagger Lee likes this.
  42. The Hebrew Husker

    Donor
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    So basically “big” sell off drives it to 301.25, computers kick in to buy it there and it stops the fall?
     
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  43. ohhaithur

    ohhaithur e-Batman
    Donor

    I'm planning on holding through this weekend. I expect the bad news to pile on
     
  44. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    there's so much money still sloshing around even with all the bad news and economic data i'm still on the fence about even the 22k dow marks

    i could see long plateaus in the 24-26k range
     
  45. HuskerGuy99

    HuskerGuy99 Above Average Member

    It stops the fall if the volume is weak. Does not necessarily have to be a big sell to drop the price.
     
    The Hebrew Husker likes this.
  46. HuskerGuy99

    HuskerGuy99 Above Average Member

    I would take first profit I could today and if you want to hold, buy back in at the close. I do believe we are going to mildly pump to finish the day as multiple time charts look close to oversold.

    EDIT: Dollar also dropping
     
    #18746 HuskerGuy99, Jun 26, 2020
    Last edited: Jun 26, 2020
    ohhaithur likes this.
  47. Baseballman86

    Baseballman86 Well-Known Member

    I closed my SPY and DRI puts earlier for this reason. I will absolutely buy back in if we get a ride to close it today. Considering FB calls as well but probably should stay away
     
  48. Baseballman86

    Baseballman86 Well-Known Member

    FL and TX are officially clamping back down on businesses, right before July 4 no less. Does the market care??

    Beer/liquor distribution shut down to on-premise accounts in both states.

    time to short BUD?
     
  49. dukebuckeye

    dukebuckeye P.G.I.T
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    I sold all of my BUD and STZ positions today.
     
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  50. pacey

    pacey Well-Known Member
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