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  • #16,981
  • Aug 14, 2019 10:33am Aug 14, 2019 10:33am
Quoting moneymaker2
Neither drop will be really big, but will head to the next support around the 25775 level (10EMA on monthly chart), or roughly 500 points down from today's close.
Well, errands didn't take as long as I thought, but it doesn't look like I missed much.

The mid-BB on the monthly chart is roughly 25660, so that is the next support level. The lower BB on the daily is roughly 25400, and the lower BB on the weekly chart is roughly 24900. Right now, the monthly chart is going to be strongest....
  • #16,982
  • Aug 14, 2019 10:41am Aug 14, 2019 10:41am
I think the panic will wear off pretty quickly on the recession scare. The Fed already talked about lowering rates, and this may indicate a possible recession two years out, so I think a lot of the drop was just algorithms doing their thing with the inversion data. Just my take, anyway....
  • #16,983
  • Aug 14, 2019 11:40am Aug 14, 2019 11:40am
Have a bid in for the following, though I doubt it gets hit:

HQY Sep20 70 CALL @ $1.50

I would go to $3.50 on the 65 CALL, so I'll watch it to see if it drops a little more...
  • #16,984
  • Aug 14, 2019 12:44pm Aug 14, 2019 12:44pm
I took a chance on a bounce, tried a leg-in, bot Aug19 SPY $292 calls for 65c, immediately went under water, want to sell Aug16 $292 calls for >50c or sell Aug19 $293 calls for 65c or better.....c'mon PPT....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,985
  • Aug 14, 2019 1:59pm Aug 14, 2019 1:59pm
Quoting The Fool
....c'mon PPT....
...If the last hour candle is big n green, I might be ok...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,986
  • Aug 14, 2019 2:29pm Aug 14, 2019 2:29pm
Quoting moneymaker2
Have a bid in for the following, though I doubt it gets hit: HQY Sep20 70 CALL @ $1.50 I would go to $3.50 on the 65 CALL, so I'll watch it to see if it drops a little more...
In the following:

HQY Sep20 65 CALL @ $3.50

Had to hit the Ask price, they never came down to $3.40 Bid, so just barely got it....

But, it should be good for some decent bucks on the bounce...
  • #16,987
  • Aug 14, 2019 2:32pm Aug 14, 2019 2:32pm
Quoting The Fool
{quote}...If the last hour candle is big n green, I might be ok...
GIMME a close above $286....hot volume in the last 1/2 hour, anything can happen, bulls vs. bears, ....not looking too good...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,988
  • Aug 14, 2019 2:50pm Aug 14, 2019 2:50pm
Quoting moneymaker2
Have a bid in for the following, though I doubt it gets hit: HQY Sep20 70 CALL @ $1.50 I would go to $3.50 on the 65 CALL, so I'll watch it to see if it drops a little more...
Canceled this bid since I have the $65 CALLs....won't get hit.
  • #16,989
  • Aug 14, 2019 2:55pm Aug 14, 2019 2:55pm
Just got in:

DIA Aug16 256 CALL @ $1.86

More of a gamble than a technical trade, so only looking for a little profit at the open tomorrow.....
  • #16,990
  • Aug 15, 2019 8:38am Aug 15, 2019 8:38am
Quoting moneymaker2
Just got in: DIA Aug16 256 CALL @ $1.86 More of a gamble than a technical trade, so only looking for a little profit at the open tomorrow.....
Out of:

DIA Aug16 256 CALL @ $2.04 up from $1.86

Not a killer amount, but spendable money none the less....
  • #16,991
  • Aug 15, 2019 11:17am Aug 15, 2019 11:17am
Quoting The Fool
{quote} GIMME a close above $286....hot volume in the last 1/2 hour, anything can happen, bulls vs. bears, ....not looking too good...
...bounce too weak, gonna need a lot more green yardage now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,992
  • Aug 15, 2019 1:36pm Aug 15, 2019 1:36pm
Quoting moneymaker2
{quote} In the following: HQY Sep20 65 CALL @ $3.50 Had to hit the Ask price, they never came down to $3.40 Bid, so just barely got it.... But, it should be good for some decent bucks on the bounce...
Added to the following:

HQY Sep20 65 CALL @ $2.65, bringing the average down to $3.05

More money than I probably should on this one since it is still pricey, but that chart looks great for a bounce up....so should be set for some decent bucks....
  • #16,993
  • Aug 15, 2019 2:29pm Aug 15, 2019 2:29pm
Quoting The Fool
{quote}...bounce too weak, gonna need a lot more green yardage now....
Yeah, that sucks! Sometimes it's best just to close the trade early and at least salvage some of your money....
  • #16,994
  • Aug 15, 2019 2:41pm Aug 15, 2019 2:41pm
Sitting here looking at the charts, I am musing over the fact that I'm old school and still use indicators, though only a few. But I am a visual person and I just like to be able to glance at them and get a good feel for what is going on, at least in my mind. It takes me about 3 seconds to look at one of my charts and see if a stock is worth looking at for a trade. I know many people are successful without them, but for the way I trade, if they banned all indicators tomorrow, I would never open up another trade!
Attached Image (click to enlarge)
Click to Enlarge Name: Simple Indicators.png Size: 154 KB
  • #16,995
  • Aug 15, 2019 9:03pm Aug 15, 2019 9:03pm
Not a whole lot to look at for tomorrow, but one that is worth noting:

THO Sep20 45 CALL @ $2.10 or better

Waiting to see what futures start the market at in the morning, might can get it cheaper if there is another dip at the open. Ask price is $2.40, but it moved up from $1.95 two minutes before the close with little change in stock price, so $2.10 or cheaper would be a good buy provide it doesn't gap up or down.....waiting on futures.

But it looks set to move up for some decent money soon....
  • #16,996
  • Aug 15, 2019 9:38pm Aug 15, 2019 9:38pm
Quoting moneymaker2
Yeah, that sucks! Sometimes it's best just to close the trade early and at least salvage some of your money....
....TRUE. Just small taters tho, a few of those $65 Monday SPY $292 long calls....I'll likely spread something against them Friday....it just takes a tweet ya know....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,997
  • Aug 15, 2019 10:27pm Aug 15, 2019 10:27pm
what do you think of this chart, money?
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-08-15_2024tlt.png Size: 295 KB
"If The Fool persists in his Folly he will become wise." - William Blake
  • #16,998
  • Aug 16, 2019 8:32am Aug 16, 2019 8:32am
Quoting The Fool
what do you think of this chart, money? {image}
On my Weekly chart, it looks very ripe for a drop, with the next stop on the weekly being around the 139 level (5EMA). On the Daily and monthly chart, it looks ready to drop, just not as ready as on the weekly.....

Hope this helps...
  • #16,999
  • Aug 16, 2019 10:34am Aug 16, 2019 10:34am
Quoting moneymaker2
Not a whole lot to look at for tomorrow, but one that is worth noting: THO Sep20 45 CALL @ $2.10 or better Waiting to see what futures start the market at in the morning, might can get it cheaper if there is another dip at the open. Ask price is $2.40, but it moved up from $1.95 two minutes before the close with little change in stock price, so $2.10 or cheaper would be a good buy provide it doesn't gap up or down.....waiting on futures. But it looks set to move up for some decent money soon....
Couldn't get into THO this morning. Had a Bid in up to $2.20, and some traded at $2.14, but mine never got hit. Had to be a Market Maker thing, as you can't even bid in $0.01 increments....
  • #17,000
  • Aug 19, 2019 3:16pm Aug 19, 2019 3:16pm
Quoting The Fool
I took a chance on a bounce, tried a leg-in, bot Aug19 SPY $292 calls for 65c, immediately went under water, want to sell Aug16 $292 calls for >50c or sell Aug19 $293 calls for 65c or better.....c'mon PPT....
...closed for 83c, never had a good shot at spreading, lucky not to lose money.....
"If The Fool persists in his Folly he will become wise." - William Blake
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