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In GLD $183 6/9 P $1.34
Notable Current Positions:
1) AXSM $75 6/16 C @ $3 - biotech with nice technicals
2) BOIL $2.56 avg.
3) NG_F continuous contract @ $2.26, I think I forgot to post this. Sorry about that!
4) GLD $182.50 6/2 P @ .96
5) GLD $182 6/9 P @ $1.15
6) JFIN $7.50 7/21 C @ .15 - Chinese financial services play with good fundamentals & great technicals
7) VKTX $25 7/21 C @ $1.30 avg. - biotech with a potential blockbuster weight loss drug in the pipeline, again with awesome technicals. it's gapping up big this morning on light volume
8) WW $7.50 6/16 C @ .55 - This trade is a total dud and if I'll be lucky if I can salvage my cost basis
9) YEXT $10 6/16 C @ .25 - cloud computing play with nice technicals
A couple more on my shopping list:
EDIT. I've been trading it and want to reload calls. I'm eyeing the speculative $10 6/16 calls.
Lastly, YOU, that's the symbol lol! A company that opeartes a security platform which enables access to predictable entry lanes in airport security checkpoints. I like their business model and technicals. I'm eyeing the $24.80 6/16 calls.
So much to do so little time. I missed this killer NVDA short set up. I need to catalogue the proven set ups the better indis produce over and over again.
The power of the one below is astounding.
I named this one bullish RAMBO pattern disrespect. I marked when it materialized today with a timestamped white vertical line. About 45 minutes after open new daily lows printed after the pre-market bullish RAMBO. That was the heads up the bearish trend was very strong. NVDA weekly puts were intraday multi-baggers after that signal.
Also, I don't mention this much but when the short signal appeared about 45 minutes after open today there was a 30 (red line)/10 (white line) bearish ema crossover under vwap (purple line). That made the NVDA bullish RAMBO pattern disrespect short set up exponentially stronger.
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I'm working on sticking to a no more than a handful of positions that need to be actively managed at a time. I used to have too many positions that required babysitting, leading often times to poor execution despite my technical thesis being correct.
Quality over quantity. Everybody's different but for me, I've been at this long enough to know that when my number of actively managed positions gets into the double digits, the quality of my execution slips. Just a personal lesson learned from my experience I thought might be helpful to share.
Now for instance, I'm locked in on the gold short opportunity like a laser. We'll see but I think it could really turn into something special.
Just to clarify my gameplan for GLD puts. The ones that expire the soonest are always the riskiest so instead of adding to it, I used the opportunity for a better entry to open a new position in the less speculative puts that expire a week later, 6/9.
Yes with a close eye on the key pivots I noted.
Gold 1K Tick:
I've noted this before but worth repeating the Better Indis are easy to overcomplicate. But I don't think they could be more simple than this:
Pros have been active all day @ a technically consequential level. Yesterday they had plenty of chances to buy under $1970, even under $1960, instead they have been active in the $1980s all day.
That's what it comes down to, where are the pros active, in dips or rips.
In GLD $182 6/9 P @ $1.15
Well that's pointless. They don't show as bold until it's clicked on.
In AXSM $75 6/16 C @ $3.00
Cut QQQ $345 6/2 P @ $1 from $1.59 Another salvage trade. I won't cherry pick. I'll post the good, the bad, the ugly, and everything in between. It's an important reminder how risky how I trade is. I gave this one way too much leeway.
This board is getting busy from all my posts so going forward I will bold my trades to make them easier to spot.
GLD P reload: $182.50 6/2 @ .96
Indeed. Gold short still in play. If I see more of the same the rest of the session. I look forward to reloading GLD puts for the o/n hold as long as I keep seeing signs of pro profit-taking/shorting.
Out GLD $183 6/2 P $1.28 from .83
In QQQ $345 6/2 P @ $1.59
Out AXSM $70 6/16 C $4.30 from $3.20
Yea thanks for mentioning NVDA. Taking a look @ it now.
Depending on what I see near the daily highs, I'll add or cut GLD puts.
To be clear I wasn't applauding your screw up, I was liking your chart and your take on it. I know I the Better Indis are powerful but so are all the indis that are mainstays on your charts. Combined, magnifies the power of both exponentially.
A long-winded way of saying 2 heads are better than 1.
Thanks for posting and explaining what is notable to you.
In GLD $183 6/2 P @ .83
Waiting patiently to see if pros show up again in a short-term top.
Cut $182 6/2 P @ .60 from .67. Gave it room but I respect the key level we've discussed noted numerous times @ $1986.
Back in GLD $182 6/2 P @ .67, yes the same one that I shook myself out of.
I'm scalping GLD puts as long as $1986 holds. I'll try to post as many as I can. Also, if it holds by close I'm holding o/n.
Out GLD $183 6/2 P $1.40 from $1
Yea I got headfaked. Thankfully I realized it quickly and reloaded puts.