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That was quite the crush the last few minutes of trade... wow-
Crazy move...
But even nuttier:
SPY 210 puts are still about ~1.00 more expensive then calls... With SPY at 210...
Hand sitting here...lol-
Just random thoughts-
The VIX destruction the past few days was nuts but what bothered me was the market moved up... But not really much for as much as it has been crushed. I always have VXX in my watch list and the past few days the way it has been destroyed was unreal-
It was when the VIX printed under 13 that everything reversed-
Why? Who knows...lol-
But was such odd market behavior the past few days...
Even worse now...
Some people just got slaughtered I'm sure-
One good streak is all you need-Thought myself that last Friday was a tell in the anemic response to that data-
Been short all week a bunch of 209 SPY puts I bought last Friday. Very happy with the returns, though nothing like yours...lol-
Seems crude is the new tell in the market, and just going to run with it until it stops working-
It does go hand in hand with your dollar strength concerns. Though you seem certain of Santas arrival, it almost seems every single person is expecting him, which either makes for a short short visit, or none at all-
The market will tell it's story either way-
Bravo
And a round of applause-
This could get ugly, maybe not like Octo-bola, but the set-up is there-
But Ebola, nuts to soup, isn't in the money market matrix, but crude definitely is...
Glad I got my options this morning cause premiums are gonna start rising-
Question I wonder, if the floor does drop out underneath the general market, will the bounce be anything of note?
Thanks. Always nice to have a good trade,because they sure don't always end up winners like that-
Just thought it was something to bring up, for a brief discussion point at least, since if this is a near-term bottom, could influence other sectors of the market for sure-
Especially that last day in October in GLD, where there was substantial volume, but relatively small price action, that really got my head scratching...
Regardless, like yourself, it's high up on the watch list now, especially if it maintains above 1200 for a few days. might think of a medium term option play on it at that point. Until that Swiss situation resolves itself though, think I'll tread lightly till then-
Haha-
It turned out to be one crazy week in it for sure. Some massive intraday swings and all that on Swiss rumors and bank easing...reminded me of penny stocks back in my dumb days-
But that price action last Friday was absurd, even compared to this week-
I've been riding house money on it since last Friday. Bought a decent handful of 114Nov28 calls at about a buck and sold half that same day when they doubled. I'm no good at using indicators to time a move, usually find myself getting in too early and sweating premimum decay-
Nowadays I let the stock tell me with a loud voice what it's gonna do, and in options, always better to be a little late then early-
Did have some hard bounces off the 1200 that Y talked about, still not sure which way it'll go. Prolly gonna close it out tomorrow, what with the holiday week and see if this move continues next week. With my uninformed opinion, think it might have a bit more, but if I knew, I wouldn't be here...lol-
Friday was one interesting day for sure, market wide-
Thought I'd ask the round table here at one of the few boards I visit on a daily basis, even though I know it's outside the normal index discussions:
Any thoughts on gold/GLD today? Absolutely huge reversal today, 40 buck swing in one session-
Reminded me when I watched the SPY back in the fall of '10 when it had a 4 handle swing in one day-
Don't usually like playing commodities, but had to after seeing that action-
Just curious on snap thoughts, gonna play with the charts this weekend-
Again, amazing board, and I'll get back to my lurking status...
Today might be the ugliest candlestick I've ever seen for AAPL...
Ha!
Post of the year-
IBM looks mighty interesting on the big board after the breakout today...
Since sideline moves are never quantified, appreciate all the info I've read over the years, one of many thousands who have taken your musings and bettered themselves in all facets-
Something isn't right with Nasdaq today-
GOOG very weak this week...
Canary in the coal mine?
Will be interesting how rebalancing for the month affects the end of day-
Have seen that, most others had the neckline slanting in the opposite direction from the 1747 low up-
ChiChi had a great chart if I recal
Which means it pierced it on the last drop then bounced right back over-
Not the best technical guy, just an evil momentum scalper here, but would at first think that would negate it...
However, that would be a perfect setup to inflict max pain this OpEx week and after-
Being one of those people who was in on that dramatic run back in the day, it kinda saddens me that it's still the same dialogue being had years after the fact-
Reason it took less horsepower was there were just a tiny bit less shares available...thankfully though I'm sure many here bought in at a much lower price then some of the bag holders awhile back-
BIEL was my first home run, rode it from .008 to .10, and I gave up pinkies for options a long time ago, it will always have a place in my stock-trading heart-
Remember to trade, never invest OTC...
Let the flaming commence...lol...
I distinctly remember last year in May it was a great ISM number that caused a similar reaction, drive the market way up till about noon, then the correction started-
Might it happen again? Who knows, but it's in the back of my head though-
Gonna be many very angry shorts today-
Call SINA the gameday bucket-
Cause it go boom-
Perfect lotto out play there-
I need within 5 cents dammit!
If no one tells me what to do, how can I trade...lol!
But that's why I love this board; sound traders an opinions all the time. Many a time I've been talked out of a trade due to discussions here, and 9/10 it has been for the better-
Just wish Foot was around more, then everything would be perfect-
No one trades AAPL...lol-
Dumped my calls when AAPL broke 425 for a nice profit. Didn't think it run as it did, my lining myself up for some 435 puts for a day trade-
Not enough volume to keep it running this morning. Also picked up 40 VXX 20.50 weekly calls for a lotto-
The market can take care of anyone as long as you keep the greed in check and respect it-
Anyone else notice massive volume spikes on many stocks (AAPL, GS, and many others) at the end of day with seemingly little price movement with that type of volume?
Seems really odd... Holding a handful of AAPL calls due to the 415 break with oomph, but now, kinda concerned about Monday-
Hope I can get out even now...lol-
I like puts better anyway-
Yep-
Sorry I wasn't clear on that-
Couple hours after closed saw my order was cancelled when I got a push notification on my iphone-
Wonder how those who were playing with 10x what I was feel about the situation.
Same thing happened to me-
Was trying to dabble in DNKN puts, and my order never completed...
Ce la vie-
Had some puts I dumped this morning on the news release regarding them pants and the lead quality control person leaving, but that move the first hour was way overdone-
Broken stocks usually don't maintain it, and LULU a cheaper NFLX in regard to volatility-
But that's why they're lottos-
Time will tell-
Lotto LULU puts?
Got mine at 62.50, average .05-
Know you keep an eye on her, and she has been a gold mine as of late-
I'll take that bet... ;)
Gonna be a fun week for options, volatility is what we have been craving for-
Went heavy into SPY puts at the close Friday after peeking at the weekly chart-
Not exactly a gravestone dojo, but close enough to me-
People are chattering Cyprus isn't a big deal... But when you have legitimate bank runs, coupled with the Euro relation, will be crazy volatility the next few days-
Thinking FAS/FAZ should be fun this week-
Open is going to be very important, but not as important as the close-
Would not be surprised if there was a huge gap up to pierce DOW highs and SPX recent highs, but if that is sold off, it will remind very much of July '10-
Longtime lurker here but love the discussions read here. One of my daily Ihub stops-
Whoever that person was who sold all those SPY shares last week is looking like a guru now... ;)
What a day today-
I find it more fun to play FAS puts. ;)
Well the meeting ended without much flash, per status quo of expectations-
Euro is under some pressure, will be interesting tomorrow with the US markets closed...
But you cannot ignore volume like that, and if it warm 't op-ex week, I bet that bounce would've been much weaker. Closed pretty near to max-pain I believe ( going off of memory)-
Volatility might be making a comeback finally-
Tremendous volume this morning on the SPY-
(Relatively speaking)
Gonna be interesting to see how it closes today
Thanks for the great reply Low-
It actually does have to do with my retirement-
Shifted it to almost all aggressive back in Nov '10-
(Only 30 so I thought the gamble was worth it)-
and when I accidentally saw that chart while doing my daily routines, it really caught my eye-
Planning on shifting most of it to safer waters after seeing it, but kinda wanted an experienced opinion-
Sure is an odd time in the market right now...
Evening Low-
Curious as to your thoughts on the SPY monthly-
Bump and Run or Rising Wedge?
Just seems damn too big to be a wedge...
would post a link but it's quite a hassle on the phone-
Thanks!
Thinking it'll take that 15.9 out at the open tomorrow-
Classic sell the news scenario here-
Just wish I bought at the open. Loaded a huge amount at the 19 strike when it bounced to the 16.90 levels, and hoping to sell half tomorrow-
Haven't posted here but have been this and the old board for a long time, and love how you all trade and make a good living trading the right way-
It certainly has made me much better-
Best of luck to all-
IMHO, Think that gap around 420-430 is going to limit any bounces until it fills-
Me thinks it will be tough to trade AAPL between 400-500 due to how quickly it loved through this level on the way up-
I usually trade this everyday, but I'm hesitant taking a stance either way till something firms up-
But that VIX spike today might be a signal for something, unless it's not... Lol...
Foot prolly knows more then the rest of us-
That gap around 430-440 is going to put a ceiling on any bounces...
Going to be very interesting for sure with AAPL, and sadly the algos care not for the great fundamentals of the company...
I wonder if the recent action in the stock would have been the same had they split the stock on the way up at some point the past few years...
Interesting seeing you comment on AAPL, low-
My question is, do you see consolidation till earnings the 23rd?
And if that causes it to violate that downtrend line, are you abandoning the trade, or is there another setup you see?
Has been very interesting to watch how it has reacted since it was first pulled close to 500-
Appreciate the thoughtful reply-
Agree with almost all of that. Was in many call positions that I closed after those meetings came out and simply went short GLD via puts after watching the price action and seeing how the daily chart ended-
Really don't see a bounce tomorrow-
Jobs numbers come in good/expected, then the case to ease easing still exists-
Big miss still means bad
Will still close those GLD puts before Yellen speaks tomorrow, but that GLD screamed the obvious overnight hold to me