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I think these are the most OVERBOUGHT SPY conditions this year...truly unbelievable!
The only index that isn't ridiculously OVERBOUGHT, is Nasdaq...
Lol, what's a dip...10cents, 20cents, SPY doesn't know how to "dip" anymore, only "space travel"!?
Nice, Ang, you worked it today!
Personally I'm holding QQQ and SPY puts that I bought 1pm after selling calls...decent day! Hoping for a BLOODBATH tomorrow, but I'm sure that's WAY to much to expect...I'll settle for a SPY drop of .50%, SMFH!
And there it is; the "boys" had a tiny spec of volatility to shut-down, propped AMZN despite the negative news, and now setting-UP for the usual creeping-UP, and a little 12-1pm rally - UNBELIEVABLE how this pattern just continues daily!!
Will sell SPY scalp calls at 1pm, and add to my QQQ longer-term short position then...
and that's only a .68% decline from here, but it's clear "they" don't even want to all a .20% decline; every dip is met with "angry" buying resulting in a quick BOINNNG and new highs. It truly is unreal at how this market is propped-UP daily.
Easy money on calls; i.e. scalp calls daily, but build a long put position...
I cannot believe we're hoping to just see SPY 250 again...
AMZN's jump doesn't make any sense; they're already struggling with profitability, and slap-on a $300M fine, AMZN should be heading towards $880, but instead jumps-UP nearly 1%. I added HEAVY 10/13 143P QQQ's since I believe AMZN and AAPL are going to lead techs lower...
JMHO
Yeesh, don't even think I'd try the QQQ 144P at .01 now, that turned positive fast from AAPL & NFLX which were showing weakness earlier...SMH!
Gonna expire worthless - oh well, early Friday for me! Can't say it's been a profitable week, actually a deep loss week, but that's how it goes sometimes.
Good weekend all!
Friday lotto; QQQ's 144P for .05
SDVI, leaving the trips FOR GOOD...very soon!
JMHO
Slowly slowly, the morons holding this back are being EXTRACTED...I could not believe people were selling .0007's after SDVI basically "showed it's cards". Easy buy and hold here (added HEAVY .0007 to .0009), just like ONCI in the trips, and a much better share structure. I won't be selling for a long while.
JMHO
I was thinking exactly the same thing; since 12pm very low volume and yet UP .20%, when double the volume only drops SPY -.05 at the most...I suppose that's an indication of the strength of the bull market, OR, possibly the blatant manipulation UP when they see volume is low...
Banks are up big; I just off'ed my BOA calls, and I think I was too soon!
I think it might be the other way around, especially for QQQ's - I'm not buying this sudden "relief" in techs with AAPL and FB under pressure...
JMHO
Very true, risk, however, re: QQQ, technicals bearish as long as it remains below SMA50 at 144. This should help pull SPY down below its SMA50 this week.
JMHO
I held and just sold, very nice rug-pull, as we expected, ANG!
Yeesh, I should have known that "they" don't want or can't have a Red Friday...put lotto = money down the drain, seemed like a reasonable gamble.
I have 3: TD, Scottrade and Interactive Brokers, but mainly trade options through IA. I'm going to get a TradeStation account going soon since I've heard they're the best for options and futures trading.
Exactly, that's why I went with QQQ's - SPY is holding because money's moving out of one part into another and stopping any heavy slide.
JMHO
Hope so - looking for a quick 3-4 bagger Friday scalp...
Friday lotto: QQQ 144P @.05
NFLX was a speculation emotional play, no "trusted technical indicators" at all, just a "bad" hunch. APPL was similar to NFLX, but a "good" hunch.
For indices like SPY and QQQ, I use my "trusted indicators".
Yep, my sell just hit...I'm fine with that!
Here's your scalp!
Yeah, don't want to get greedy...going to cash-in 75%, and hold 25%...
$148 is my target, I think it'll bounce from there, but I'm close to just pulling the trigger today because I need some realized profits and cash.
I might try a lotto play, SPY 247P 9/22, DOW starting to look toppy!
I'm with you, Ang, except, I have SPY 246.50 and QQQ 142 puts with 9/29 expiry - all of my trusted technical indicators are showing a BIG "rug pull" within the next week. We'll see.
BTW: I got killed with NFLX 175P, and lost everything (about $10K), but thanks to an AAPL alert from you around $163, my AAPL 155P are doing great (about $13k profit)!
WDRP, are you finally ready for multiple pennies - I've always thought the potential was here, just needed the right mix of shareholders?!
Personally, I'm holding VERY TIGHT!!
JMHO.
Will, this is looking like it could be our next BIG runner together; good to see you.
I didn't see any wash trading, but it did appear that BIG buyers and sellers knew today was the day to exchange large holdings; as I said, looks like a "changing of the guard" and possibly an open market BUYOUT, or change of control.
I've seen this once before with an old-MMG ticker which subsequently ran to .0145.
Either way, I'm holding longer-term, and might add some more .0003's, or hopefully .0002's within the coming weeks.
JMHO
Looks like an open market change of control happening here...
JMHO
True, and then there's those gap fills to $249 and $246.50, but as we've seen many times before, SPY holds off on gap fills as long as possible, but they EVENTUALLY do happen...
JMHO
So true...witching should shake things up a little tomorrow + whole host of economic data. Fed B/S aftermarket...
Yeesh, hopefully the "quad witching" will create some volatility tomorrow...this slow bleed UP or DOWN is no good for anyone...
I know FCOL, however, if Techs continue to slip, selling momentum and volatility could pick-up, but what a SNOOZEFEST right now chewing-up premium...
Or will the Techs pull the DOW down...this time...not a lot of conviction either way from what I'm seeing...?!
This bull is STRONG, but I couldn't resist the "put temptation" any longer...lol - clearly the TREND is UP, but there are far too many underlying negatives that don't support these valuations...a small consolidation adjustment to SPY 246 is required...JMHO!
We'll see EOW whether it was the RIGHT decision...
Added heavy SPY & QQQ 9/22 puts EOD - waited patiently all day - overbought signals all over the place. Also, NFLX 9/22 175P.
JMHO
Holy premium burn...FCOL, looks like 2c per hour right now...
Bought big this last UP, Yen is up and only getting stronger. Financials are heavy down too, including GS.
Must be a dip coming, not sure how deep because the QQQ wants to defy gravity...
Yen up big, but so is QQQ now..interesting...
Looks like SPY and QQQ want to push down, but DOW keeping things up...for now...Yen weakening a little...
Loaded my puts back a little cheaper..