Short term momentum trader.
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Oct 11 168 SPY call option up 100% from bottom.
I mentioned earlier today to look to play some SPY call options
in the near future.
Market will be volatile, so more opportunities like this will come.
Do some paper trading first get your feet wet as option trading
is finer art than trading stocks.
After morning flip of $1600 profit, I was waiting for a dip to reload near $4.50. Got close, but quite didn't make it.
Big drop is justified but not this much.
This is way overdone. FDA hold is gazillion times better
than getting rejected or halted.
The process difference to get it reinstated differs
by years and tens of millions.
Still looking to buy some and hold in IRA. I think it will
minimally double over weeks or months as things are sorted out.
My (gut feeling) guess is that NUGT will likely trade
near the $41 low to $45 high range tomorrow.
FDA is cautious, I think its extreme over-reaction.
I think the probability of getting it reinstated is high.
May require some testing or detail evidence.
Risk/reward ratio (favoring profit side) is high in my opinion.
I flipped it for a nice profit during the massive panic sell,
but now I'm thinking this is a pretty good buy and hold possibility.
I would pick up some...even if its small amount.
Traders, look for SPY call option to play.
We all know congress is going to come to some resolution
and not go all the way to the "default".
Nice timing of SPY call option in the near future
could bring 300% to 1000% gain once congress comes to
a resolution...depending on the option.
Only thing is don't jump in too early, as I see market
heading lower until then.
Risky, but ARIA could be a multi-bagger.
This is NOT FDA rejection, and they did NOT stop all the testing.
Though risky, I think most of the gig damage has been taken
this morning.
In terms of the upside vs. downside, I think its a reasonable
chance to take here.
Particularly if you manage it with stop loss.
I flipped it this morning for $1600 profit, and
I am looking for reentry.
Would love to get $4.50 or below again...but I'm not sure now
it'll get there.
GLTA
Remaining 1/2 got stop limited.
So the grand total profit appears to be little over $1600.
What a heart throbbing hellish trade that was.
If it dips below $4.50, I may load up again.
At times I just jump in right after it tanks hard...but with tight stop limit.
About 1/2 the time, I get kicked out with small loss,
and other 1/2 the time, I get a descent profit...usually
multiple factors of the stop limit loss.
So its a good probability play for me.
It's nearly impossible to guess the top and bottom,
so sometimes we just have to play (with proper risk management).
Good luck
Doubled up at $4.10, so I have $4.30 average now.
Small shares...just have 2,000 shares. Too risky to play more.
Just sold 1/2 at $4.95,
Holding the remaining for more with stop limit at $4.70.
ARIA is halted...Could get really interesting here.
https://www.nasdaqtrader.com/Trader.aspx?id=Tradehalts
Had a bid for $4.50 but didn't get there yet,
I hope it doesn't open back up big...
Let me get some first!
As always these things are oversold and then bounce.
Watching for bottoming pattern to jump...at some point.
What do you mean?
Options are already being traded...
Nice Scalping! Every bit counts.
NUGT is not going anywhere fast.
It's bit on the downtrend at the moment,
but it's not going down straight.
There's plenty of volatile up/down moves left.
My (gut feeling) guess is that NUGT will likely trade
near the $41 low to $45 high range tomorrow.
Bunch of political morons in congress.
If a major company's board of directors can't come to an agreement,
they don't just shutdown the company until they come to an
agreement.
These morons from both sides are play the game of chicken
to see who blinks first.
They are elected and paid to run the government,
not shut it down.
Oh, there is no certainty in anything at this point,
but BK filing potential has increased dramatically in current condition.
Once in this limbo mode of not able to generate new business
and is short on money to insure even the current accounts
is near choke hold on the company.
Some white angel would have to come through for TWGP to have
any chance at recovery.
Otherwise, it'll be gradual burning through cash until
inevitable BK.
I wouldn't go long on this at this point.
I would in fact sell any long positions, as I see the stock
deteriorating gradually.
$42.01 bounce worked!!!
$450 profit at $42.90 exit.
LOL...that's how it always seems to go.
Only if we can see 5 minutes into the future... :)
Even a free falling log bounces off mountain side... :)
Should see some bounce towards closing.
Got the $42.01s...let's see what happens.
Got $41.50 stop limit protection in just in case.
It's almost there...I lowered the stop limit to $41.50 to give it some breathing room.
Perhaps, but NUGT/NUGT crossing is of only interesting observation
and it lacks any meaningful technical merits...I think.
Gold is heavily manipulated and they will drive the price
past where traders guess as the short term bottom or top.
Congress will come to an agreement eventually,
and the market is going to roar on the news
and mining stocks should coat tail ride it back up above $50s.
NUGT almost hit my $42.01 just now...but it reversed back up.
Still waiting...
Bid @42.01 Waiting...
Stop limit @41.90.
It's the weakening of their financial situation.
They don't have sufficient fund to even safely insure
current accounts, meaning they are unable to create
new insurance business.
Their credit rating was lowered again today,
and it's now harder to raise money
and even if they do, it'll come at a hefty price tag.
Hence the reason why the stock keeps hitting new lows
by dropping big % for the past 2 months.
I think the short side is more profitable play.
When stock tanks hard right until end, I've often seen it
do a nice brief pop right at closing or right at the beginning of AH.
This is because aggressive shorts are covering it.
So if you like to get a quick pop, the best is buy
just before close and sell within minutes into AH
when shorts are trying to cover.
Low $9s might be good long entry.
$10 is a bit awkward place for me to go long or short.
Been playing both sides between $9 to $11.50.
Hehehe...Covered incrementally starting at $6 and below.
Just bought $4.45...just for sympathy to see if it bounces a up.
Ain't holding this long though...TWGP looks like possible BK candidate.
It was Seeking Alpha article that originally exposed the
HIMX being a supplier for Google Glass that skyrocketed the stock.
Two sided blade.
Just create JNUG/JDST board!
It's going to be fun trading these on top of NUGT/DUST!!!
Welcome Ladies & Gent, JDST will be exciting!!!
Those that love to trade NUGT/DUST twin,
I think you'll love what I think will be even more volatile
JNUG/JDST pair.
Happy trading...always!!!
Welcome Ladies & Gent, JNUG will be exciting!!!
Those that love to trade NUGT/DUST twin,
I think you'll love what I think will be even more volatile
JNUG/JDST pair.
Happy trading...always!!!
Exactly. Sounds like a battle proven trader!!!
This is not about bashing a company.
This is more about recognizing market's sentiment and reality
and trading accordingly.
I've never read about a successful trader who's strategy is to
buy and hold stocks that are tanking and tanking.
They will be out of this game quickly.
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Additional Information
Yup covered at $173, and just flipped a call option.
Now I have put option working.
We've Warned About JCP's Fall
Psychologically, JCP won't find support until $7 at least.
In(OCT4,$24) @.22, Out@31 41% gain
Man I timed that perfectly!!!
GDX @$24.03. Bought some (Oct 4 24) call options at .22 cents.
Got tight stop loss on this.
My stop limit on the call option is to cover it if
GDX falls through $24 level.
Like to see gold back to $1315, and GDX to $24.50 level.
Still holding $176 short.
Was willing to cover at $170 in AH but didn't quite reach that far.
I think more drops are still coming, particularly with the
broad market being jittery.
However, for intraday options, I've played both call and put,
for short term reversals. These quick options plays been
providing 30% to 80%. Though, due to the risk, I've already
play small amounts (like 1K to 3K) only.
Covered the put option for 40% profit,
but likely hold the @176 short position overnight.
Crawling its way to below $7.
This slow death is sometimes more painful because
one thinks "maybe it's the bottom now"...
When it reality, she just keeps on falling.