If yes, then I have to roll everything I have for this week. Will select the week after earnings. Hope earnings are the start of the next rally.so what's next $940?
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If yes, then I have to roll everything I have for this week. Will select the week after earnings. Hope earnings are the start of the next rally.so what's next $940?
Pre-market looking ugly. Bear raid and then bounce today? Or perpetual sell-off following macros?
I’m not saying it won’t happen, but the SP will be backstopped by strong earnings. A drop to that level would take a complete market dump, I reckon. We’ve been down that road before, not too long ago.Premiums are going to be good for sure, but I'm not feeling too confident opening new BPS. 20% OTM would be in the upper 700s now. That seems safe, but who knows these days.
I would posit that “few if any” implies none, which isn’t correct. ;-).Looks like we go lower before any kind of rally. I posit that few if any predicted the price action of the past week with TSLA. I sold some BCS last Monday with trepidation and some CCs that have obviously fared well, but not on the basis that I thought the entire rally would collapse and be erased, but in the belief that it would stall for earnings. The BPS I sold on the never ending dips afterwards all look sick.
I believe that has many of us rattled here. TSLA executed well beyond even bullish expectations and is getting hammered ostensibly over a quarter or half a point of interest rates. I expected a beat down at some point, but timing is everything and the timing here is tough to swallow. But that is how the market works.
Should be an interesting week.
Easy to hold spectacular earnings against TSLA in this environment by pointing out how ”ridiculous” and “overextended” their PE remains while ignoring growth trend.I’m not saying it won’t happen, but the SP will be backstopped by strong earnings. A drop to that level would take a complete market dump, I reckon. We’ve been down that road before, not too long ago.
Guess you would be the exception.I would posit that “few if any” implies none, which isn’t correct. ;-).
$990 might provide some WEAK support, I’ve moved my $970 target to eh gads, $936, then there is an air pocket down to high 8XX, $879, then below $800. With so many rapid moves in the past four weeks, getting closer to exact is never going to work for technicals other than solid bases or near term or ATH. Stay frosty, volatillily is your friend if you’re ready for it.so what's next $940?
Thinking on those same lines..I think I'm going to roll my 850/1050 to the 28th and reduce the number by 1/3 with a small debit in order to free up margin. I will then use that margin to either widen the spread on my 1/28 850/1100s, or actually buy more shares for a quick 20% profit when we jump (and preserve more margin than I would buying calls).
I shouldn't enter new bullish positions until Jan 20th, if I were to keep losses in the last year to offset some of the massive gains I cached in.$990 might provide some WEAK support, I’ve moved my $970 target to eh gads, $936, then there is an air pocket down to high 8XX, $879, then below $800. With so many rapid moves in the past four weeks, getting closer to exact is never going to work for technicals other than solid bases or near term or ATH. Stay frosty, volatillily is your friend if you’re ready for it.
I DO think this weakness will continue till then but I do agree that a reversal could be furious and quick. At This point I’m collaring a range, sub 850 with puts over 1200 with some OTM calls spreads.. plus ready to deploy ~ 750k if/when I feel that is better for my re-buy medium term entry.I shouldn't enter new bullish positions until Jan 20th, if I were to keep losses in the last year to offset some of the massive gains I cached in.
Do you think there is any chance this weakness may persist until then? That'd be wicked (for me), but I expect reversal would be likely furious and quick, and before then...