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lj: SQQQ
Might join U, but I am having a hectic week--and it is only Monday.
Don't have the focus.
So, what happens when the Straits of Hormuz (or is it Srait?) are closed.
If all hell breaks lose over there, $120 a barrel Brent?
No prob. Everyone can just get their EV out of their garage and take a joy ride.
wadegarret: I'm listening to Rick Santelli. If Treasury auctions don't go well, we are in big trouble.
A depression next year?
littlejohn: Bought in VTLE Nov. 45 put. Lost half of the proceeds, but mid-November is a long way off in the oil market. Profit of about $1.70 a share. A bird in hand. . . Was tempted to sell the VLO $130 call for this week, but will keep my powder dry. 87 octane can be had for as low as $3.25 in these parts.
NYBob: Never happen. Putin's forces are too stretched.
lj: With the interest on the debt approaching $1T, the clowns are people who have not listened to Gaetz' message.
The budget deficit has to be addressed. Gaetz knows he cannot win this round. He has fired the first shot in a long war on debt.
But then again, does that problem pale to insignificance with WWIII about to start?
Should we thank President Biden for drawing down the SPR? Does the USS Gerald R. Ford run on solar energy.
Maybe it recharged its battery at Musk's solar recharging station in California. Doesn't run on wind because I didn't see any sails. Aargh!
Film at 11.
lj: The oil market should be interesting this week! People are turning on their heat at night around here. The heating season has started.
NYBob: My guess would be that Halliburton bought Coots and Boots because there was a problem with the rig long before it blew--it was a ticking time bomb. Just a guess, maybe 100 percent incorrect.
OT: No time for football today, but a quick look reveals Virginia Tech should have stayed home.
(For my generation, VT is called V P AAAH down in the Commonwealth.)
The Crimson Tide and TA&M matchup looks like a good game.
al44: VERY clever of Babylon Bee, but, 72K IRS agents and a new FBI headquarters bigger than the Pentagon later, and it could become reality. When are Republicans in Congress going to stand up to this mess. When we elect more conservativfes, that is when. The House is controlled by RHINOs.
If there were 50 like Matt Gaetz, the country could get back on the right track.
Unfortunately, there are only about 15 or 20 like Gates, including my little Margie!
On the road to brownouts and blackouts. The grid will not be able to support EV's.
https://www.yahoo.com/news/toyota-latest-sales-data-reveals-201413395.html
lj: EGY
Last week was the week to sell November calls!
GRRR: News like this makes me nervous. I hope this company is the real deal.
https://www.dailymail.co.uk/news/article-12598495/The-dangerous-scam-aviation-history-mystery-fraudster-duped-worlds-biggest-airlines-using-FAKE-turbines-nuts-bolts-3-MILLION-scheme-army-hoax-staffers-dummy-offices-including-one-near-Buckingham-Palace.html
lj: VTLE
To amuse myself until mid-November, sold the $45 put at $3.
lj: GRRR Thanks for offering the advance warning, but I have filled the tank. I don't want one more share, unless it were to drop to 10 cents or something weird on a big market selloff. If it is a legitimate company, their products are recession proof, but that is just the opinion of this tech expert who can hardly work a smart phone!
littlejohn: I found today's follow-through in the drop in oil very surprising. Gasoline demand should be the same as it was at this time last year.
NYBob
I think the Senate runoff elections in Georgia were fishy. Stacy Abrams lost her race, yet the Dems won both Senate seats?
Weird.
If they take down Trump, anyone who thinks Trump won the 2020 election will be put in a reeducation camp, or worse!
JMO
lj: To be honest, the Government, if not run by Marxists, would order those Kaiser workers to return to work.
AMD: The CEO makes noise to the effect that the company will eat NVDA's lunch. The stock moves up. The stock moves down. To paraphrase Lewis Stone's character in Grand hotel, "Prices go up, prices go down, and nothing ever happens".
TSLA should be $50 a share.
Will look at VTLE puts tomorrow.
VLO: Will look at puts here, too, but, I don't want to buy shares at even $100 a share at this point.
lj: Didn't watch the market this afternoon. Oil bears should pay me not to watch!
My interpretation: a big recession or worse.
Peter Navarro thinks we could have "hyperinflation".
Why is TSLA soaring when oil has been hit?
Talk about counterintuitive.
AMD humming a Bee Gee's tune today.
Sell a put or wait it out.
NYBob: Vax mandate in Texas. It is starting again. Also, don't forget to turn off your radio, TV and phone before 2:00 p.m. EDT today (Wednesday). If U want to be super careful, they say to wrap your cell phone in aluminum foil and place it in the microwave oven until after the FEMA test is over.
lj: McCarthy did himself in when he went after Gaetz with the "having sex with a minor" stuff.
McCarthy is a weak sister who cannot stand on principle.
Believe it or not, Trump could be elected Speaker of the House.
Not at all likely, but it is not impossible.
Light entertainment for the rabbit hole crowd.
The debt has to be addressed. Those losers in Congress won't have jobs if they don't face reality.
This jobs report might mean hyperinflation.
Prepare.
lj: AMD
Was fine in the morning, got slapped in the afternoon.
An omen for tech stocks?
Don't like this mess.
lj: Jamie Dimond freaked out the market with his 7-percent inflation comment.
"Higher interest rates compete with insiders
trying to launder share positions to the
public to transfer money..."
Amen.
lj: 400+ points to the downside is not a train wreck. A better analogy would be an ATV in the creek.
The NASDAQ was down more on a percentage basis.
If by some miracle Matt Gaetz were to become Speaker of the House, then, imo, we'd see a very big selloff. My first choice for Speaker would be Rosendale of Montana. This is going to be another ship show.
lj: gasoline
"Gasoline prices wouldn't fall much when
oil prices dropped a lot..." That is true. They turtle walk prices down.
But it is counterintuitive to have oil at $90 and gas at $3.30 a gallon and below.
The oil company with the safest dividend is Vital Energy. (Sorry, I couldn't control myself!)
lj: You cannot get rich on the upticks in SQQQ, but it is worth a try.
lj: Which reminds me. You can get 87 octane for $3.33 around here. The disconnect between the oil price and the refined product might be a sign we are in a recession. Or, when oil was $68 a barrel, were the refiners gouging like crazy?
U would know better than this confused observer.
lj: NVDA can have very wild swings. Be careful. Agree 100 percent with your assessment of the NVDA-QQQ relationship.
I "discovered" 100 units of SQQ in my IRA, bought earlier this year. I'm down about 4 points.
Being a chicken, if there is a tech wreck, my big play might be selling SQQQ puts when I think the tech stocks have bottomed.
I'll buy an AI program to help me with the timing. Do U have Jamie Dimond's cell phone number?
lj: VTLE
Speaking of VTLE, I almost bought it in the first-hour of trading for a day trade.
Glad I passed.
It would have been a day fade.
lj: You'll get another chance. I missed a trade today in AMD. Should have bought it in the first hour of trading and sold in the afternoon. I'll try again tomorrow.
AI could result in you and I not being able to compete in the market.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
lj: Since we are kindred spirits, I'm not going to bother to comment on this here.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
Another AI nightmare. IMO, Jamie Dimond might be a first-class jackass.
https://www.dailymail.co.uk/news/article-12585261/JPMorgan-boss-Jamie-Dimon-says-AI-enable-3-5-day-workweek-reveals-technology-doing-equity-hedging-bank.html
Enable a 3 1/2 day workweek sure. But, believe me, employess on a 3 1/2 day work week will be paid 70 percent of what they would make working 5 days a week.
Does Dimond think people not in the 1 percent are stupid.
When half of the people in the U.S. are not working full-time, where is the Government going to get its tax revenue.
I suggest they start by seizing Dimond's wealth.
The AI horror stories are starting to come out:
https://www.dailymail.co.uk/news/article-12584079/Tom-Hanks-slams-fake-dental-plan-advert-uses-AI-version-warns-fans.html
Wait until there are 72K new IRS agents. Just wait.
al44: There needs to be a million person peaceful march on Washington as they did during the Viet Nam war. But wait. That cannot happen because, as a result of the Soviet-style imprisonment of the Jan. 6 people, we have become a nation of cowards. Sending money won't do a damn thing. They have won.
lj: U are preaching to the converted: "Denial of reality is more likely just
price propping to offload shares on
those adding new monthly buys..."
Could not find a trade for VLO this morning.
Bought Target (TGT) because it made a new 52-week low, though I didn't get the low.
It will be interesting to see whether their LGBQT debacle will affect Christmas sales.
Another huge problem for them is "shrinkage", to quote the jokesters in the media.
They will be closing 6? 7? stores and there will be writeoffs. Longer term, that might be a positive.
Tar jay is not really a store for lower-income areas. WMT has that covered.
I have this vision of TGT at $85 in a big October general market selloff.
So, until the budget mess resumes in November, at best, the market should go sideways.
AND, a drum roll please: [insert littlejohn's saying here]
If it moves up a little, I'll definitely sell a call.
lj: U are preaching to the converted: "Denial of reality is more likely just
price propping to offload shares on
those adding new monthly buys..."
Could not find a trade for VLO this morning.
Bought Target (TGT) because it made a new 52-week low, though I didn't get the low.
It will be interesting to see whether their LGBQT debacle will affect Christmas sales.
Another huge problem for them is "shrinkage", to quote the jokesters in the media.
They will be closing 6? 7? stores and there will be writeoffs. Longer term, that might be a positive.
Tar jay is not really a store for lower-income areas. WMT has that covered.
I have this vision of TGT at $85 in a big October general market selloff.
So, until the budget mess resumes in November, at best, the market should go sideways.
AND, a drum roll please: [insert littlejohn's saying here]
If it moves up a little, I'll definitely sell a call.
Trump drops the "F" bomb--BIG MISTAKE. This might ruin his reelection bid.
https://www.dailymail.co.uk/news/article-12578413/Donald-Trump-uses-word-motherf-r-slamming-Dems-indicting-California-GOP-convention.html
lj: Your mind is very sharp in the early morning hours. U can tell by my posts that I am running on fumes at that time.
Your post gives me a lot to think about. Very intriguing strategies you lay out. And, using GTC orders never occurred to me. I have been doing market order on all options contracts, believe it or not.
My first step in improving my options trading is to get out of bed before 9:30 a.m. I feed the dog at 8:00 a.m. then go back to bed--bad habit. And, I need to hit the hay before 4:00 a.m., even 5:00 a.m. Once I can stop that, I should be able to get my groove back on first-hour-of-trading purchases.
Film at 11. My plan for Monday is to purchase VLO on a downtick from the open, probably by 10:30 a.m., then go from there.
You snooze, you lose, comes to mind.
lj: I'm still with the MAGA coalition in the House. Balance the budget or shutdown the Government indefinitely.
The deficit will be close to $2T. There won't be any daycare when the currency is like Argentina's has been. This country could become another Venezuela. Guess who has been pouring thru the Darien Gap. Venezuelans, that is who.
Mothers won't have jobs. People will not be able to afford food.
The day of fiscal reckoning is coming. It might not be during this round, but the budget deficit has to be addressed or the U.S. financial system is DOOMED. DOOMED.
I don't think Federal employees should get back pay.
After all, they ARE the deep State.
Had they voted for Trump, the U.S. would be energy dominant and the budget would be balanced.
Sob stories fall on deaf ears of this MAGA supporter.
Oh, and by the way, how many Federal tax dollars are paying to educate the illegals and provide welfare. The Mexican border is open, yet we have sent billions and billions to the crooks in Ukraine.
You got me started, Vern.