trading

[defc0n]

I don't know what the TA was indicating then, but the TA now is pointing towards more downside (of course, it is still only probabilistic outcomes and nothing is definite).

If you're going to trade (not advised) you have to use both "news" and technicals (TA). Even though the house may win most of the time, if you're going to play Blackjack, you still wanna learn the rules.

Certainly looks like 260 was candle toppy. I’m still not confident Q3 results are going to change anyone’s mind for the upside either. I might try some more 10:30-11am sniping from time to time in the near future again though who knows

 

[Antares Nebula]

I don't know what the TA was indicating then, but the TA now is pointing towards more downside (of course, it is still only probabilistic outcomes and nothing is definite).

To be clear, it is only short-medium term. I think it will recover going into the end of the year. JM2C

 

[Nate the Great]

I was impressed by how rapidly the SP came up to 264 at earnings.

Hopefully, we can clear 300 by December.

 

[EVNow]

Looks like SP is just following Nasdaq after the initial drop. Ofcourse the expected bear attack may still happen.

 

[EVNow]

Looks like SP is just following Nasdaq after the initial drop. Ofcourse the expected bear attack may still happen.

There is the bear attack. Pushing SP from 222 to below 220, even as Nasdaq goes up.

 

[anthonyj]

There is the bear attack. Pushing SP from 222 to below 220, even as Nasdaq goes up.

If Fed disappoints I'm expecting $211 to break fast. I think that is what the bears are trying to set up

 

[Nate the Great]

I don't think the FED would at this point.

Orange panda isn't helping.

 

[mrmage]

Sold 212.5 exp Aug30 puts @ $3.725 today. Let's see how that works out. I'm ok buying shares below $210.

 

[defc0n]

Short term view looks like it wants to keep near 220. Long term chart is pointing to more downside, though. I’d still be cautious here: how soon will there likely be any good news?

 

[Antares Nebula]

Just like last week, I sold my puts too early this week. But something is better than nothing I guess. If we get a bounce up into the 225 area tomorrow, I may play for some puts again. Seems to be making lower highs. Until 235 is definitively broken, we look to be in a short term downtrend.

I'm also a little cautious about the SEC dropping the hammer in the next week or two (re the solar production tweet). If there is anything there, my guess is that it will come out by then. It's approaching a month since the tweet. Otherwise, it was likely a nothing burger.

 

[Antares Nebula]

Sold 212.5 exp Aug30 puts @ $3.725 today. Let's see how that works out. I'm ok buying shares below $210.

Ha, ha... I'm actually thinking of buying those puts! I guess that's what makes a trade. But I'll probably wait till Friday or Monday. Wait for the theta decay to kill some premium. I usually only buy present week puts, but if you're selling it's good to sell later weeks, as you get that time premium. GLTY

 

[mrmage]

Ha, ha... I'm actually thinking of buying those puts! I guess that's what makes a trade. But I'll probably wait till Friday or Monday. Wait for the theta decay to kill some premium. I usually only buy present week puts, but if you're selling it's good to sell later weeks, as you get that time premium. GLTY

I'm always nervous about picking up shares at a price that's too high, so I only write puts when the exercise price is something I'd buy. Usually means at least 1.5 weeks out.

 

[Antares Nebula]

okay, crazy crap show premarket. But after things settled down a bit, I bought both a few 232.50 calls for 0.33, and 217.50 puts for 1.04. Most likely both will go to waste -- I've been making profit the last few weeks, so it's okay. The puts was my original plan, and I was able to get it cheaper today than yesterday. The calls are just in case there is some teeth to this rumor or another follow up rumor.

 

[Cherry Wine]

Closed out my 220 calls and credit spreads today at a slight loss - and opened some up at higher strikes to hopefully remain slightly profitable on my trades this week. It's been a wild ride, and the bet that TSLA would turn more sharply downward this week did not pay off, so I'm going back to my previous tactic of selling OTM calls/spreads (which are hedged by my long shares and options).

 

[defc0n]

Will probably exit my s&p short following Powell’s speech on Friday.

 

[Antares Nebula]

Closed out my 220 calls and credit spreads today at a slight loss - and opened some up at higher strikes to hopefully remain slightly profitable on my trades this week. It's been a wild ride, and the bet that TSLA would turn more sharply downward this week did not pay off, so I'm going back to my previous tactic of selling OTM calls/spreads (which are hedged by my long shares and options).

I thought so too. But stocks always surprise. May have to wait for next week. Range is narrowing again. To perhaps state the obvious, looking for a break of below 210 or above 230 fairly soon.

 

[mongo]

I thought so too. But stocks always surprise. May have to wait for next week. Range is narrowing again. To perhaps state the obvious, looking for a break of below 210 or above 230 fairly soon.

Walmart and Tesla just issued a friendly-ish joint statement. So hopefully above.

 

[defc0n]

Chinese retaliation finally arrived. Now the question is whether Powell speech will magnify the drop or not.

 

[bdy0627]

With the Chinese tariff news coming with the market up near the top of it's current trading range, it's difficult to imagine Powell preventing it from catapulting back down toward the lower end of the range again. We'll see soon enough.

 

[Antares Nebula]

Yeah, normally Friday is quiet and price trends to max pain. But every once in a while, you have crazy Fridays. Tariffs + Powell = Volatility. Could be good for trading given cheap options. But not easy!