Yep, playing CANE WallStreetBets style with out of
the money calls. Up 75% on July 10 calls so far today. Tight
spreads when I got in but they've widened out a bit now. Did the
same with BVN back when it first broke higher and up over 600% now
(on a much smaller outlay than I normally would have
done).
Hey Matt, would you mind commenting on MACD and RSI divergences
here that you do or don't see on this chart? I tend to see them a
bit differently than you so it helps me learn when I can compare
notes (especially in real time).
Probably rhetorical questions, but I'll offer my take anyway
I don't see retirement accounts going to cash
in masse in a panic scenario. However, when institutional investors
all line up on the bearish side, we will be close to a bottom (e.g.
when Tom Lee at FundStrat stops his bullish calls and people start
admitting that a global recession later this year is a real
possibility). I think we have a date with 360 on the SPY before
this is all over (another 15+% down) but will likely have a few
tradable rallies before we get there.
Any thoughts on setting a stop just below the 61.8% retracement?
My working theory is that triple bottoms are very rare and if
we lose the 61.8, we're likely going to have another leg lower
where the market can start trying to find a bottom again...but I'd
love to hear any contrary opinions out there.
Posted by jtsurfah on 25th of Feb 2022 at 11:31 am
Thanks for the guidance on this trade. I got in yesterday and
split the middle on your suggestion for targets last night. Just
filled to complete probably the largest scalp / 1 day trade I've
ever put on. I'm typically more of a swing trader, but this
market seems to call for taking profits when you have them!
EXPE - nice break out but I don't get it. How did it escape
getting flushed in the recent correction? It's got a negative PE
and the analyst ratings are not great (the 4 I primarily follow).
But it is making making a new 52 week high and an all time high
today. Strange. I'm obviously missing something.
Thanks for this info nugget. I've been wondering why a chart
will look like a symmetry break sometimes and you comment that it
stalled at symmetry. Makes sense now (with your comment about waves
vs. total move)
Zoom - on days like today I'm missing the live version
Matt used to link to! Looks like the 60 and 120 stopped out today
based on yesterday's levels. Anything showing up on the
shorter time frames?
VIX
Matt, is that dashed line on the chart around 22 a buy stop
level? Seems crazy that the VIX is still in the low 20's with
the market down as much as it is. I'm not sure if that a good or
bad sign at this point.
The community is delayed by three days for non registered users.
LIVE - mistake on my
Posted by jtsurfah on 3rd of Mar 2022 at 03:31 pm
LIVE - mistake on my watchlist (I thought it was Live Nation), but it's on fire today and looks like it wants to go higher. Maybe a good mistake :)
Speaking of dumb stuff from
Sugar is sweet
Posted by jtsurfah on 3rd of Mar 2022 at 03:23 pm
Speaking of dumb stuff from WSB crowd - GME 680 strike calls expiring in June still have a tight spread and can be sold to lemmings for $142 each.
Yep, playing CANE WallStreetBets style
Sugar is sweet
Posted by jtsurfah on 3rd of Mar 2022 at 03:20 pm
Yep, playing CANE WallStreetBets style with out of the money calls. Up 75% on July 10 calls so far today. Tight spreads when I got in but they've widened out a bit now. Did the same with BVN back when it first broke higher and up over 600% now (on a much smaller outlay than I normally would have done).
Hey Matt, would you mind
SPX 5 min
Posted by jtsurfah on 1st of Mar 2022 at 02:26 pm
Hey Matt, would you mind commenting on MACD and RSI divergences here that you do or don't see on this chart? I tend to see them a bit differently than you so it helps me learn when I can compare notes (especially in real time).
Probably rhetorical questions, but I'll
With all the news going on ... i'm still surprised ...
Posted by jtsurfah on 1st of Mar 2022 at 02:17 pm
Probably rhetorical questions, but I'll offer my take anyway I don't see retirement accounts going to cash in masse in a panic scenario. However, when institutional investors all line up on the bearish side, we will be close to a bottom (e.g. when Tom Lee at FundStrat stops his bullish calls and people start admitting that a global recession later this year is a real possibility). I think we have a date with 360 on the SPY before this is all over (another 15+% down) but will likely have a few tradable rallies before we get there.
Any thoughts on setting a
A couple options should the market form a higher low
Posted by jtsurfah on 1st of Mar 2022 at 01:58 pm
Any thoughts on setting a stop just below the 61.8% retracement?
My working theory is that triple bottoms are very rare and if we lose the 61.8, we're likely going to have another leg lower where the market can start trying to find a bottom again...but I'd love to hear any contrary opinions out there.
Thanks for the guidance on
SPX 60
Posted by jtsurfah on 25th of Feb 2022 at 11:31 am
Thanks for the guidance on this trade. I got in yesterday and split the middle on your suggestion for targets last night. Just filled to complete probably the largest scalp / 1 day trade I've ever put on. I'm typically more of a swing trader, but this market seems to call for taking profits when you have them!
ASPS starting to look good.
Posted by jtsurfah on 23rd of Feb 2022 at 12:08 pm
ASPS starting to look good. Higher rates, lower growth, midterms, etc all potentially play into this watchlist pick from a while back.
Did you overlay these Fibs
If symmetry is our new handrail than here`s an scary ...
Posted by jtsurfah on 23rd of Feb 2022 at 11:54 am
Did you overlay these Fibs backwards?
I'm thinking an eventual touch
If symmetry is our new handrail than here`s an scary ...
Posted by jtsurfah on 23rd of Feb 2022 at 11:50 am
I'm thinking an eventual touch of 3600 (if not lower) - we're due for a visit to the 200 week MA area.
Probably a 100% crypto portfolio
SPX 5 min
Posted by jtsurfah on 18th of Feb 2022 at 03:03 pm
Probably a 100% crypto portfolio
EXPE - nice break out
Posted by jtsurfah on 9th of Feb 2022 at 10:47 am
EXPE - nice break out but I don't get it. How did it escape getting flushed in the recent correction? It's got a negative PE and the analyst ratings are not great (the 4 I primarily follow). But it is making making a new 52 week high and an all time high today. Strange. I'm obviously missing something.
BVN working out nicely. I
Gold stocks reverting back to mean
Posted by jtsurfah on 7th of Feb 2022 at 02:08 pm
BVN working out nicely.
I bought a bunch of calls early last week (surprised I got filled so easily) and they're nearly in the money now.
ETH broke above the 20
MARA looking perky today...
Posted by jtsurfah on 4th of Feb 2022 at 10:46 am
ETH broke above the 20 first today. BTC was stuck underneath it, but now trading above also...
Thanks for this info nugget.
SPY broke symmetry on this bounce. UPDATE: bought the pullback, ...
Posted by jtsurfah on 4th of Feb 2022 at 10:43 am
Thanks for this info nugget. I've been wondering why a chart will look like a symmetry break sometimes and you comment that it stalled at symmetry. Makes sense now (with your comment about waves vs. total move)
Ooops. I'm looking at QQQ
Zoom - on days like today I'm missing the live ...
Posted by jtsurfah on 3rd of Feb 2022 at 03:16 pm
Ooops. I'm looking at QQQ cycles....
Thanks
VIX
Posted by jtsurfah on 3rd of Feb 2022 at 03:15 pm
Thanks
Zoom - on days like
Posted by jtsurfah on 3rd of Feb 2022 at 03:14 pm
Zoom - on days like today I'm missing the live version Matt used to link to! Looks like the 60 and 120 stopped out today based on yesterday's levels. Anything showing up on the shorter time frames?
VIX Matt, is that dashed line
VIX
Posted by jtsurfah on 3rd of Feb 2022 at 03:10 pm
VIX
Matt, is that dashed line on the chart around 22 a buy stop level? Seems crazy that the VIX is still in the low 20's with the market down as much as it is. I'm not sure if that a good or bad sign at this point.
GDX dead, or just barely
Posted by jtsurfah on 27th of Jan 2022 at 03:45 pm
GDX dead, or just barely sitting on support?