Official Investing Thread

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

  1. HuskerGuy99

    HuskerGuy99 Above Average Member

    Why did I go away from BA this morning? Could have pulled up a 5-bagger or more on 0DTE calls from 156. Went with PEP instead and pulled a respectable +20% and I'm back on the sidelines waiting to see what happens into Euro close. Breadth is 95% up today in the S&P 100 so it is looking like the opposite of yesterday thus far. Watching 336.50 and 338.50 levels.
     
  2. HuskerGuy99

    HuskerGuy99 Above Average Member

    Market selling off but S&P 100 is showing a 50/50 split on up/down breadth. Volume also not quite there. No need to panic on long positions yet. Gap around SPY 327 area is still there. We did spend around 25 minutes at 332.50 level so watch that for clues on rest of today's action.
     
    Sportfan likes this.
  3. HuskerGuy99

    HuskerGuy99 Above Average Member

    This is from last week but still applies today. Remember that this is where we started to gap down and sell off during the crash earlier in the year. We bounced from here during the last correction a few weeks back, but if we break below and close below, Sunday night and Monday become very scary for any short-term plays. Could still rip higher today into the close due to options expiration. That is why I am watching volume and breadth closely.
     
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  4. pacey

    pacey Well-Known Member
    Donor

    an hour left, whats the tip on how this thing is closing today.
     
  5. southside

    southside Well-Known Member
    Donor TMB OG

    Vix back at trend level and VXN inching closer to 32
     
    NothingIsOT likes this.
  6. kinghill

    kinghill Well-Known Member
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    Any of you have custodial Roth IRA accounts for your kids? I've been throwing a set amount into their plain old savings account each month just to have another area to throw some savings... maybe use a bit for college expenses when it's that time, but now thinking maybe I should setup IRA accounts for them and put a minimum in just to get it started, instill the importance of saving for retirement, etc. so they can take it over when they're 18 or when they start working.
     
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  7. billdozer

    billdozer Well-Known Member
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    Don't they still have to make money in a job to do that? I've thought about doing that when mine get old enough to make money doing something like babysitting, etc.
     
  8. kinghill

    kinghill Well-Known Member
    Donor
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    Oh shoot you're right. Didn't even realize that. Thanks. My kids don't have earned income.

    Welp nevermind.
     
  9. billdozer

    billdozer Well-Known Member
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    I think there are still ways to put money into taxable that you can gift to them though.
     
  10. letan

    letan Just looking for the gator board
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    Real MadridJacksonville JaguarsFlorida GatorsTampa Bay Rays

    utma should work right?
     
  11. billdozer

    billdozer Well-Known Member
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    I believe so yes. Still a ways from considering something like that for me. I'd rather make sure my retirement is taken care of before considering my kids'.
     
    letan likes this.
  12. HuskerGuy99

    HuskerGuy99 Above Average Member

    Wish I knew! I'd be a rich man. Just sat on the sidelines watching. In my opinion, it was not a bullish close. It looked like a squeeze up to 335 at end of day. Possibly shorts covering before the weekend. Then we continued to sell off. Not a super-bearish close, but I do think the elements are in play for a possible gap-down into next week. That's two 1SD-down weekly moves in a row. Another would put us around SPY 325. I think we do get there and possibly test 319.5 again to see if strong buying is still there.

    The volatility dropping is no different than when it was rising during those couple weeks where we were going up. We are going down AND seeing volatility drop. The other notable thing is volume dropped from the first down day last week through Friday. First big sell day was 150M SPY volume. That went down to 85M yesterday. So we are selling off and volume is dropping. That means any BIG selling could take us to where I originally was waiting for a correction, which is SPY 305 level. If that happens, you will most-definitely see the VIX and company shoot through the roof.

    Short-term trading again needs to be tight and fast. Can't get too greedy with all the bounces and dips we will be seeing. There will be a lot of opportunities in the coming weeks. Take what you can get and avoid short-term deep OTM calls as those are probably the most risky buys right now.
     
  13. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
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    If you have an s-corp and your kids are old enough they can be employees as a work around, for instance.

    There are almost always solutions. Just depends how much you're willing to pay to find them. I've straddled personal and corporate my entire career.
     
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  14. NothingIsOT

    NothingIsOT Always down for the Kroger parking lot!
    Donor
    Miami DolphinsFlorida PanthersDetroit TigersMiami Heat

    Oracle surprise win on tiktok

    Who’s buying calls at open tomorrow
     
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  15. NothingIsOT

    NothingIsOT Always down for the Kroger parking lot!
    Donor
    Miami DolphinsFlorida PanthersDetroit TigersMiami Heat

    If you want the chicken shit safe way to play it, IGV is the ETF with the largest exposure to Oracle at 7.5% (note: Microsoft has about same weighting in the portfolio which should definitely offset Oracle gains).
     
  16. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    you mean the overtly pro trump company and ceo got the green light why i never
     
  17. NothingIsOT

    NothingIsOT Always down for the Kroger parking lot!
    Donor
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    Those OOM calls you bought pre-announcement are going to print. Congrats.
     
  18. Vince Benedict

    Vince Benedict Well-Known Member

    $VXRT given FDA approval to begin study / trials of its COVID19 vaccine. Delivered via tablet, stable at room temp.

    In on a $6.50 call expy 9/18. Cheap thrill.
     
    ohhaithur likes this.
  19. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
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    lol jk
     
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  20. HuskerGuy99

    HuskerGuy99 Above Average Member

    Looks like another max pain type day for Monday options expirations. SPY puts expiring today are trading at twice the volume/OI of calls expiring today. Max pain close is SPY 340 which is currently where we are trading around.
     
  21. HuskerGuy99

    HuskerGuy99 Above Average Member

    95% of S&P 100 is trading up and volume is trash. Volume is back down to August levels thus far. Don't overextend here.
     
    Sportfan likes this.
  22. The Milkman

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

    Has anyone jumped into 2023 leaps?
     
  23. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    i dont day trade
     
  24. Baseballman86

    Baseballman86 Well-Known Member

    DKNG partnership with ESPN, up 12%
     
  25. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
    Donor TMB OG
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    Flipped some on the run-up but caught the tail end.
     
  26. pacey

    pacey Well-Known Member
    Donor

  27. Baseballman86

    Baseballman86 Well-Known Member

    May belong more in the penny thread, but SPAQ finally making some good moves and now options set to be available tomorrow (or so I hear). Should be an exciting couple days for that one.
     
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  28. Vince Benedict

    Vince Benedict Well-Known Member

    I've seen enough for today.

    Thanks, Vaxart.

    20200914_152755.jpg
     
    ohhaithur likes this.
  29. ScFan27

    ScFan27 Well-Known Member

    Just sold some PENN calls for a nice 110% return. That stock just kept running today.
     
  30. Vince Benedict

    Vince Benedict Well-Known Member

    Stoolie's doing their Lords work.
     
    ScFan27 likes this.
  31. HuskerGuy99

    HuskerGuy99 Above Average Member

    Pain trade on low volume day (SPY 58M during trading hours) so everybody with options expiring today got screwed over. I was -3% on the day which is actually horrible because I missed my bid on BA $165 calls this morning by a penny while being too greedy. Then I watched it return over 100% during the course of the day. Thought I got in good when it got close to $165 with some puts and the market action looked good moving down but BA did not move much with it and then squeezed a little in the last 30 minutes, so I had to let it go for -3%. I anticipate a small down day tomorrow but can't hold overnight in these conditions. At one point today 99% of the S&P 100 was advancing. That tailed off to 90% end of day. Volume low across the board. Conditions are still dangerous for a short-term swing lower. I expect that to happen Thursday and Friday due to another pain trade on Wednesday. If it doesn't, the correction is potentially over in my mind.
     
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  32. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

  33. Vince Benedict

    Vince Benedict Well-Known Member

    $121.25 call 9/18 expy of $AAPL looks attractive early this morning at 73c. Thats $4.05 over opening price with the stock up $1.84/1.6% premarket and a 1 pm ET event today out in Cupertino showcasing updates to their watch and iPad lines.
     
  34. Baseballman86

    Baseballman86 Well-Known Member

    Tax question here, maybe not the right thread but I figure somebody may know.

    my sister started a charcuterie box business as a side job and now she’s likely going to make as much or more with that than with her day job as a teacher. She should setup as an S-Corp, not C-Corp, right?
     
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  35. southside

    southside Well-Known Member
    Donor TMB OG

    Yes. There’s a cutoff where Llc is decisively better than S Corp IMO, but sounds like she’s past that income level.
     
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  36. Houndster

    Houndster $25 Standard Unit
    Staff Donor TMB OG

    S-Corp is just a tax election. You can elect S as a corporation or LLC
     
  37. Oranjello

    Oranjello Well-Known Member
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    Probably, but she should ask (or retain) a CPA familiar with her entire tax situation before making any kind of election
     
  38. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    She should find a CPA. There’s no black and white “right or wrong” answer.
     
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  39. Vince Benedict

    Vince Benedict Well-Known Member

    I had to look up "charcuterie box" just now.

    Turns out that I see these things everywhere and I had no idea what they were called.

    This thread is a goldmine of information.
     
  40. Baseballman86

    Baseballman86 Well-Known Member

    They like to call them “graze boxes” but I figured charcuterie was more descriptive. They’re a damn gold mine. My SIL is doing it in California and on pace to make like $150K with it by herself, and my sister is in GA on pace for around $90K but she splits it with another woman.
     
  41. Sportfan

    Sportfan From Six to Dumptime

    guess it got deleted but this is exactly me, pay day so adding onto a low expense ratio ETF and back to reading about everyone’s options trades here.

    maybe once I finally get laid off (see:fired) due to COVID I’ll start dabbling in this stuff but for now I’m in set it and forget it mode.
     
    Lyrtch likes this.
  42. Vince Benedict

    Vince Benedict Well-Known Member

    Your SIL is just printing money. Thats amazing considering she's dealing with both perishables and I imagine she's shipping out orders out as well via UPS, USPS, or FedEx.

    That doesn't strike me as the easiest business to run but it looks like she's got it down to a science. Good for her, I hope she has continued success.
     
  43. HuskerGuy99

    HuskerGuy99 Above Average Member

    BA does it again. 5 minutes. 66% return. Probably done for the day again lol. Hope it doesn't run to $175 and make me punch the air.

    Just want to add it's an amazing feeling when your low-ball bid gets hit almost immediately and then your profit target gets hit less than a minute later.
     
  44. Sportfan

    Sportfan From Six to Dumptime

    Added to VOO @313.71
     
  45. Baseballman86

    Baseballman86 Well-Known Member

    She has the good fortune of living in Orange County, where lots of folks have money to throw around and there are picturesque picnic spots every 500 feet. Perfect time/place/idea I think.
     
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  46. Oranjello

    Oranjello Well-Known Member
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    Do they just go to Publix, buy meats and cheeses, package them, and ship them? Or do they buy wholesale?
     
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  47. HuskerGuy99

    HuskerGuy99 Above Average Member

    OC is definitely a nice place. Trying to move there if housing prices ever drop again.
     
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  48. HuskerInMiami

    HuskerInMiami Well-Known Member
    Donor
    Miami DolphinsNebraska Cornhuskers

    what was the story behind this?
     
  49. ScFan27

    ScFan27 Well-Known Member

    How do you pick your mornings with BA? Do you follow a down day with a low bid on a call? Sounds like this has been a constant winner for you.
     
    HuskerInMiami likes this.
  50. texasraider

    texasraider thanks
    Donor
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    $IPOB (one of Chamath's SPAC's) announced a merger with OpenDoor. Up 16.5% today. Up 30% in the past few weeks

    I bet pretty big on IPOB & IPOC. Looking great
     
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