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Got it. Thanks. Enjoy the rest of the weekend
Agreed, barring a catastrophe we should head higher. Just need digestion.
I am looking at seasonality more than anything. Look at charts to test and hold 21DMA....and bounce from there. Some may test 50DMA. This week is historically weak....thinking slightly down to sideways consolidation before making a run to 222 on SPY later this year.
Got it, this is a hedging strategy for core holdings. I tend to be a bigger fan of just selling covered calls.
This doesn't make sense. Do you have a link?
Should be a good day trader next Monday
Yeah I don't have it in me today....cut everything with small profit and ran to the couch. Til next week JB
If anyone followed on the AMZN put play, it's forming an intraday falling wedge. Usually resolves up FWIW
Alright peeps....I'm all out of weekly positions. Calling it quits for the week. Enjoy your weekends!
Exactly, but I've followed plays like this in the past and the following week they pre-announced and got a 20% bump. Never know.
HLF making a very ugly candle....needs to work to fix that
BWA earnings on 7/28
Following sharp paper trade. Saw 9000+ contracts go through at ask....almost 40X normal volume.
In AMZN 735 Puts
BTO BWA Aug 32.50 Calls @1.25
In BAC 13.50 puts @.03
Sitting on 50 98.50 calls....selling 1/2 at open.
Adding this one back to the watchlist after a couple year hiatus
HLF +12% on report FTC determined Herbalife not a pyramid scheme, will settle.
I know I joke around a lot....but someone needs to seriously give Ackman a hug and hide all sharp objects...
NFLX 98.77 pm
Lol
Might be a good day for golf...
You know what they say about shorting a dull market...
Man, I've been up since 4:30 scouring every chart I watch....nothing gets me excited. It's actually great that we are entering earnings....at least we can get some volatility in reporting names and trade the post-action.
Thanks buddy....appreciate that. Truth be told, right now (last 2 days included) is a tough trading environment. Problem with all time highs is there are no known resistance levels to trade against, so ultimately price wonders until people take profits and it consolidates....creating a heavy volume area (Volume-by-price band will build), and ultimately it creates a resistance area. Major support is where price broke out, and despite all the gaps on this run to new highs, price doesn't HAVE to fill those....consolidation happens two ways, through price or through time (sideways). Time to be patient and not over trade. Stock pickers market for the time being.
It's kind of funny, I don't need to post here, I enjoy posting here. It's not my board and not my business, I simply have fun posting funny crap occasionally and ultimately enjoy helping people out when I can. It makes me laugh when anyone gets on here and starts attacking someone's post which was not intended to champion a paid trading service or serve an agenda....it was an answer to a question that I got which I took time away from my business (trading) to answer.
I'll say this about that (and then move on), I've never known a successful trader who doesn't legitimately want to help others, nor one who isn't legitimately happy for those that do well.....
Agreed
It was just an arbitrary percentage that I picked for the purposes of answering that guys question. A number I figured was easily doable intraday and kept a new traders expectations grounded. Once someone gets in the habit of locking in gains and becoming consistently profitable, they can learn to actively manage positions. I wasn't about to get into the legging out of positions and leaving runners when discussing basics. The percentage is personal preference....he just wanted to know "what I would do if I only had $1000" so I gave him a quick template.
FCX & Copper
Watching copper very carefully as it it breaking trend line resistance and poised to make a play at multi-year resistance with a break and hold of current levels. Tough nut to crack, but if strength continues, FCX could beast out with its recent break of a 3 month long consolidation.
$Copper
Daily
Monthly
FCX
Nasty stuff
Good morning
I trade for a living. I do this every day. I post my trades in real time. And lastly watch your mouth. Deleted
I won't....frustrating price action
$2mil Straddle bought today @ ~6.00 on AAPL. Gives you a range either way
Looks to be headed that direction....like it
AAPL strong pop