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I have no idea. Why are you OTM short?
~d
...sigh...
The CEO sold over a million shares on June 1 and only holds 19,000 shares now. How is that for confidence in your company?
It should be going down soon, not up. But for the short term...
Do you know about volume holes? If you put a volumeprofile study on CMG on ToS there is no volume until you get up to about 1061. It's not much, but should serve as resistance.
Those areas of low volume are magnets for stocks, and also gaps.
Also, no one going to this board at all. Way too quiet. Part of it is the stock is so expensive and not a glamour stock too boot, but also should be good for shorting soon. If it was going up, the vultures would be pounding the pavement short here.
I was taught not to add to a position until it dropped at least a dollar below my cost. This was for stocks, not options. For options I add another contract or set of contracts not until my cost has gone down one third of my position - and I usually hedge overnight for Globex.
~d
Could be, that's why mental stops and position managing is important. I trade technicals, mostly.
~d
LOL, I shorted the SPX from 2016 to 2019 on the basis it was too high.
I'm going to post a chart tonight if you'd like.
~d
Ashy,
What time frames are you using and what indicators? I am going to post a chart later which shows why I kept out of the trade till now, and why I think it's finally getting ripe for some decline soon.
Pending the kind market makers, of course.
It was originally 2870, but I have adjusted it to 3020 and possibly 2960. If we don't get there, it will be incredibly bullish for the summer.
~d
Only trade over 200 shares that went through was a 301 share sell at 3050.04. Looks like they are definitely holding it up for insider sells.
Most of the rest might be algos trading shares around.
~d
When they're finished, it should drop like a rock. Should be soon.
~d
Still burning theta. When it goes, it should be fairly rapid back to 1000.
~d
Below 309.80, next target is 308. Volume gap in between.
~d
Golf it is, then.
You get much more leverage swinging a golf club at some one's head then a chess board.
:)
Finally. Let's see if this thing has legs. P/C ratio lowest in last year but not a lot of vol selling to help blow up this thing.
So we shall see...
OT: You don't understand. They WANT us dependent and helpless and consuming all the time and not thinking and easily controlled and addicted to hand outs.
It's not political ineptness, although it looks like it. I can't seem to get the point across; it's very frustrating.
OT: When I was a little kid of 7, my brother was already reading advanced chess magazines at 5. He was brilliant. My dad was a well known scientist who invented the military - well, never mind - and my brother took after him.
He would always win at chess with me. Always, I couldn't stand it. One day, when he was winning again I took the chess board, hit him over the head with it and threw the pieces at the wall.
Golf sounds nice though.
~d
I respectfully disagree. However, full moon, perigee and lunar eclipse, anything could happen.
~d
Well, if you weren't a stranger here lately, you'd be seeing I have been buying puts and adding since the last week in May.
What does your secret guru say and how are you? In reverse order.
~d
There is no way this stock should be flying so high during a 3 month period of inane social distancing, masking wearing and everyone terrified their food is going to have koodies in it.
~d
Oh yes.
Dipping into puts tomorrow or Friday at the latest.
~d
I know, I'm jealous.
~d
That was very nice, a warm Thank You.
Have a good evening,
from Deva
Sherlocksky's Folly
Why are your calls deep in the money, but not the puts?
I hope I don't regret asking this question.
~d
Man, you put me in a room full of men by myself and I sure would not be fighting.
lolololo....
Keep your chin up and watch out for sucker punches!
Fighting what? eom
Between today and Friday we have a full moon, perigee of the moon and also someone said, a lunar eclipse.
Not sure of the last one.
Also have a June 5 318 call on board, just in case.~d eom
Shorted SPY at 312.79. Not part of long term (June) shorts. Swing trade. SPY today reached 313 projection I made back in March of this year.
Edit: The time to short is when eveyrone is scared to short.
I am noticing in the last few weeks that afternoon trades have been interesting, particularly ones that are 15 min before the bell.
Shorted SPY at 312.79 @ about 3:50 pm, not part of l/t shorts. Just trying out an idea here. May start day-trading last half hour of day if we don't go/gap down tomorrow morning. Maybe even last fifteen minutes. I've met very rich traders that only trade the first half hour of the day and the last. Never had the courage before, but this action primarily on Globex is for the birds.
~d
Call ToS and ask why you can't sell credit spreads. Could be you're just not approved for them.
My account dropped below the minimum at one point and I was still allowed to do credit spreads? I might give a call myself. Every since Schwab announced the takeover they have turned into the mafia.
~d
LOL, I hear you (the losing thing). Not fun at all.
Thanks for the clarification. I will be transparent about my buys and sells.
~d
Really? Is it ToS? Options are not margin-able and there should be no minimum to sell a spread as the long option covers the short option.
Try Tastyworks. I started with 500 in one account and did credit spreads on it as I built the account up.
Terrible platform though. Don't use it for charting and even trades are clunky.
There have been none recently, which is one of the reasons I'm so bullish over the summer.
~d
You might want to hedge underneath the puts.
I probably would have sold an OTM call about 10 points over the recent high just now, and waited it for outright puts. I have lost two much money trying to front run and options don't trade overnight.
Good luck, Ashy. I will be joining you soon, probably.
~d
Hi, Glen, are you being serious? Delete the posts if I violated ToS, by all means.
I just thought it would be OK since I was open about my entry and I have never 'pumped' a stock before. I am in it for the fundamentals, not the technicals, which is new for me. I just wanted to share it - I like to share.
They do kits for testing coronavirus and if they pass the FDA trials, could really do well. Much easier to pass for a test than for a vaccine. It's a real company with real officers who haven't sold a share in three months.
Of course, it goes without saying that if they doesn't pass, they will dump. But if Goldman Sachs and Black Rock own it, I think that's a good sign for the futre.
Won't post about it again. My apologies.
~d
There have been no Hindenburg omens either on the Naz or NYSE, which is very bullish overall.
~d
Glen, back in the second week of March when I said we would soon begin the 'short squeeze from h---' here, I posted two potential numbers as goals.
One was 313.
The other was 322 (or 327, hot sure).
Both were AH ghost prints from February. Not sure if we hit the 322 (327) one on this round.
Best regards,
~d
Sold 1/2 of my TTOO @ 1.32.~d eom
Yes, I agree. I was saying that I'm not in the short yet, just watching.
Market up on Treasuries and banks today, ng.