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Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.
I was wondering what that giant candle was
Also interested in this
I’ll share when I’m on my laptop later. Don’t have on my phone.
The premium on those options is absurd. In for one ( ͡° ͜ʖ ͡°)
I played a quick 10min candle for a scalp earlier...but not sure how far out I'd want to buy to get the real sell off.
Feb 26 I hope
Looks like that one has a ton of volume.
About to pull trigger on $25c 1/15 on X. It's priced at .07 right now. We already know there is a shortage of steel plus Biden gives us his "plan" tomorrow. I suspect if he says the word "infrastructure" the stock should move a few points. Thoughts?
How much did they donate to the DNC?
I think commodities (Raw/industrial use) will continue to climb. But that bet is a wild card. I hope you kill it though
SPCE up 8% AH
Holding 4 SPCE 4/15 27C - gonna be another nice open if this holds.
Good luck. Was some aggressive 1/15 expiry call buying in SPCE near the close.
What game/website was this? Hoping my drunk self in college did the same thing.
Lmao. What the fuck is going on
GameStop is worth a bazillion dollars, duh
I took the 30P for that date, btw...so my premium is higher, but I was closer to ITM.
Anyone seeing any good setups? I'm kind of liking BA
Welcome to the short squeeze
God is on our side.
Are they normally like this? First time for me getting molested by one
Nice open. Would like to see it come down a bit before getting in
4.75 to 8 at open.
Have scalped SPCE this morning a few times, too.
Jumped into a couple BABA calls on dip.
Nicely done sir. Seeing more buying still which is good for continuation
This is one for the record books
Yeah, I thought about holding one but it dipped pretty hard and I thought the selloff was on.
I'm still a long way from not being shaken out of extra profits. I'm not gonna bitch and moan about 65% though.
GME is dumb
JMIA with another casual 10% day.
It’s what we get for betting against WSB.
They'll get bored eventually and move on to something else.
It's not just WSB it is literally everybody right now. Everybody piled into the long market. Buying some VIX calls today if I can get a good fill they are already charging a big premium on the price.
Where is pacey at BB running again.
There's some large institutions that went long over the last few weeks, so I'm not buying the WSB only angle.
funny, I bought 2,000 shares Monday.
Also 2K shares of DDD yesterday
Just got 1,5 00 WPRT today. Thats my next pop
just added another 750 WPRT.
HANK still says the end is near:
Comments 011421 - Thu, Jan 14th, 2021 -:- 6 : 38 : 45
Not much changed after yesterday’s relatively quiet trading. The Dow lost 8 points, closing at 31,060. The intraday high got up to 31,153, still short of last week’s high of 31,193, so its likely yesterday’s pullback was part of the wave 4 triangle that has been developing for over a week now. The quiet trading produced a small change in the A-D oscillator, so its also likely that the Dow and other markets will see a ‘Big Move” within the next 1-2 days. This rally should retest last week’s high, probably to the 31,200 + level. Also, given that the market has been trading mostly sideways for the past week or so, making wave 4 a larger springboard, it’s likely that wave 5 up will complete a bit higher than the 31,200 level, probably closer to 31,300.
The NASDAQ and SPX were positive yesterday, gaining 57 and 9 points, respectively.
Volume on the NYSE was moderate, coming in at 98 percent of its 10-day average. There were 278 new highs and only 2 new lows. The number of new highs was about 75 less that the new highs on Tuesday. Again, something to watch as the rally to a top continues.
After yesterday’s action, the numbers I’m watching for a potential move to the downside are 31,890 on the Dow and 3,780 on the S&P. A break below these numbers now would have Bearish consequences. On the other hand, if the indexes stay above these levels, it’s likely the Bullish ‘through over’ wave will continue.
Yesterday’s early rally was enough to turn the Summation Index positive again, so now The Tide is Positive. The Dean's List remains Positive.
The Sector Ratio remains at 23-1 Positive. The top 5 strong sectors are Insurance, Energy, Media, Banks, and Semiconductors. The only weak sector was the Telecoms.
Some of the top stocks on the MWL pulled back yesterday, which is perfectly normal after their explosive gains. On the other hand, Tesla (TSLA) rose another 4.97 points. I saw that Westport Innovations (WPRT) moved into the #2 spot on the List, just behind superstar DDD. This begs the question, should you Buy WPRT? I’m not going to answer that question because as you know, I never make Buy or Sell recommendations. But I will tell you this… All my research shows that the best time to Buy a stock is when my Scalp Trading volume indicator on the Dow turns positive, not after it’s been positive for a while. I demonstrated this in my ST Class (the videos) and in my follow-on training webinars.
The volume indicator on the Dow (DIA) has been mostly positive since 3 November but went negative for a short time in mid-December. Once it turned positive again on 21 December, it gave the ‘all clear’ signal to Buy top stocks on the MWL again. So just recently, we had two times to get into and trade top stocks ---both on 3 November and again on 21 December. Each time produced big winners. Actually, they produced HUGH WINNERS! The important thing to note is that there were NO losers! But things are different now as I look at Westport. The volume indicator on the Dow has been positive for over a month and during that time all the top stocks have surged, including WPRT. Will they continue on a path to the moon? Hmmm? You all know how I feel about stocks going to the moon.
The one thing I never like to do is buy overbought stocks. Yeah, they can always go higher, but the odds are not in your favor. And right now, WPRT is extremely overbought with a 3-period RSI of 95.66. The stock also appears to being close to completing the final fifth wave of its pattern. If I look at some of the other top stocks on the MWL, they all appear to be in the same boat; all continuing to trend and approaching tops. So, for now there's no need to replace one of my trending stocks with WPRT. I just need to manage the trending stocks I already own. Once these top stocks stop trending, that would be the time to re-examine my holdings. If the volume indicator on the Dow (DIA) is still positive and one of my top stocks ended its trend, then and only then would I look for another stock. If the volume indicator on the Dow is negative at that time, I would begin looking at stocks from the Weak List. But not now. Right now, the Dow appears to be entering its final wave 5 up. If this is the case, the top stocks should continue to trend. I’ve already started to take a few bucks off the table on a few of them, but I still want most of my horses to run. When these leaders begin to fall out of the trend zone, that will be my signal that the overall trend of the market is about to change. I’m not going to try to predict the exact top for each of the top stocks, but rather let my Horses tell me when this Bull run is over.
Model Update: There were NO Changes to the Model. It remains 100 percent in cash.
I think the turnaround thesis on GME has some positives:
- New board/activist shareholder with significant high level e-commerce experience (former Chewy founder and multiple of his exec team)
- Reduce store footprint, but enhance existing retail experience, incorporate PC hardware sales (i.e. copy Microcenter)
- Leverage brand to build/partner with digital retail experience (will be tough to unseat something like Steam, but it's crazy gamestop hasn't tried this to date)
It's been a meme stock forever on WSB based on the short squeeze stuff, but I think the real fundamental value is certainly much higher than where it was trading last summer. I wouldn't get in now, but it doesn't surprise me that it popped some.
Only because he said not to.
Paid a premium but already up about 40% on these. Hope Biden doesn't jack things up tonight.
The top shareholders control a huge majority of the stock. They can punish people that don't know any better. Squeeze city just like all those Chinese stocks people were spreading propaganda about last year.
Was not wise to the WSB, but holy hell at the GameStop call.
Will be paying attention from now on.
Reminder for this, plz
Hank right now:
GOING TO REMAIN ALL CASH DURING ONE OF THE MOST HISTORIC AND PREDICTABLE RUNS OF ALL TIME
/ES futures just traded down on 7000+ contracts in a 5 minute candle. That almost never happens at this time of night. Something big is brewing.
Long way to go to open, but my VIX calls are hoping like hell Hank is finally redeemed lol.
He needs to retire
Starting to get into this...