Monday Bloody Monday..................the U2 song should say Monday not Sunday.
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Its not that bad yet. On the SPY l like $509 for a temporary spot of interest, and below that $500 is a better spot if the markets get there. I think the markets rally here actually and the goal for the rescue operation today is $527. Right at this moment the $516.50 spot is another level of support the SPY can try to hang its hat on. As the morning progresses, I suspect the futures will start to rise, and by the end of the day the $527 area will be in their sights.
The QQQs I like the $413.50 spot as a good spot for an entry today if it gets there. Right now the futures are resting at another support area of $429ish, the rescue goal for today is $455.
So that's my outlook for trading today, heavy selling the last couple of days has me thinking we get a counter trade and a nice pop. These are all scalp or day trades as I do suspect more selling to come it really hasn't gotten that bad yet.Comment -
Look up "Carry Trade" Japan.Comment -
2% is bloody monday now...
What a joke.
Bring on 20% and that's still too little in this trash market.Comment -
Well the SPY started the day at $510,and I did buy some calls. Not a bad rise, but I still think the $527 is the goal so I hung onto the small position over night, which is a risk in itself these days that must be thought of with heightened awareness. The QQQ was caught in woman's land for me, so no trade.Comment -
I get a TON of these, most meaningless. This one is worth noting!!!
This one is a proxy of Intel and may have suffered from Intel's plummeting.
Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) CEO Amnon Shashua bought 631,963 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.Comment -
The QQQ was caught in woman's land for me, so no trade.
A Freudian slip or a Slurrism?Comment -
Volitivity = Opportunity. Please post your opps. I'll offer FLNC, and MBLY as mine.Comment -
All's good. No problems!!!Comment -
I ain't going NOWHEREComment -
The VIX got way overbought so we're going to see a bounce. The big question is if the bounce will stall out at around 50% retracement of the move down. If it does, we could be looking at a fall and winter of carnage.Comment -
I'm posting my plays, and the SPY top out yesterday 2 bucks where I thought it would which isn't that bad when you consider it started at $510. That's old news already how about today's trading action? Well its all about the high from yesterday in the SPY $529.75, right now the futures market is making a run for that level and after the opening, if the price can't make it above yesterday's high and close on an hourly basis above that, I'll be buying a ticket on the PUT train to expire on Friday. I think at least a visit to the $510ish spot is on the docket sometime in the near future.
How about if the SPY is able to eclipse the $529.75 area? Then $536.50 would be the next stop on the bullish train and maybe even $538 before the end of the week, and I'll be on that train as well if that happens, but a more jumpy get off the train vibe for me on the way up.
All options I'm getting expire on Friday, but I reserve the right to jump off that train at any time with the increased volatility going either direction if the trade winds tell me to do so.
I'm more in the camp that we get a nice gap and crap today, but that is just a feeling. As usual I will let the chart dictate my actions.Last edited by Slurry Pumper; 08-07-24, 07:01 AM.Comment -
Boy this doesn't feel good to me. One wrong geopolitical move and this could be a plunge??Comment -
OK sometimes things happen like I think they are going to happen and give an example of why I do certain things. Just this morning I posted to see if the price for SPY can get above yesterday's close and stay there for an hourly closing candle before I would go long. Well look below and you'll see why I state that on the 5 day chart with hourly closes. Looking at point 1 and 2 shows that the SPY went above yesterday's close not once but twice today. Each time it was unable to keep it there for an hourly close. Usually you only get 1 chance at it before it falls away, but today price really hung around for a while making a bull flag before they gave up and selling started. Yes I had to wait for both failures because it never really gain steam to the downside after the hourly closes. Eventually I jumped on the PUT train (choo choo) and rode that down to the bank to cash in. At the end of the day, I did take some profits but I kind of expect this ride to continue to start tomorrow to the $510 area, or even maybe a gap down below that for a Ka-ching moment so I still have a half a position going.
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I'm kind of waiting for the 1st good geopolitical decision to help us not get into more issues. It seems to me there have been a series of decisions the last couple of years that got us to this point and a good decision is sorely needed. A few more crappy moves and we'll be in a totally different world situation.Comment -
I forgot to mention that the volume from yesterday was relatively lower than the previous couple of days volume. This may indicate a bear trap or fake out operation. This morning I see the futures down to start with but the table will probably be set by the jobs number coming in at 8:30.
To the downside some interesting levels I think about are $515ish, 510ish, 509, and of course the fat round number of 500, all for three SPY.
To the upside we have $522.80 which is highlighted in yellow from yesterday's posted picture, and if price can eclipse that with the hourly closing thing, I would expect a run back to and probably higher than yesterday's high to a gap fill of 533, then 537ishComment -
Individual stocks are hard to play for me during times of high volatility. Plus I think my method of playing is more profitable for me.
Its been a great week, I didn't get the big ka ching yesterday when the market gapped up in the morning, but I was able to get rid of those PUTS and keep a profit in the sale. Then following the rules and waiting until the hourly close, I did pick up calls in the SPY which are currently working out. The thought is that the 533 spot in the SPY will be taken out today and I think the sooner that happens the better as the market will just float up the rest of the day.
The support resistance spots of interest:
Upside $533, 537, and if it gets out of control 543.
Downside, the break-even spot for those calls from yesterday is $529.50, then further downside targets are 525, 522.75, and 519 if it gets out of control. Of course, at each level it must be beyond that point after the hourly candle closes to start a position.
Its been such a good week that I'm gonna go light unless the opportunity shows its face and smacks me around. I'm more inclined to sell those calls from yesterday and go do a liquid lunch with maybe a bong hit or ten.Comment -
Last week the SPY ended up right where it started around $533. Same thing for the QQQ at around $451. I still thing there is some serious falling apart that will need to happen here in the markets as bad news starts to really add up. For this week however, I'm gonna be bullish until I get a sign or signal of rough waters ahead. I'll play it like last week as it looks right now like the futures will jump above resistance at $533, so as long as it stays above that for an hourly close I jump in for rally.
Some SPY levels that are interesting $538.50, $543, $549.40
Down side levels $533, $530, $522.50, $518.50.Comment -
A lot of chop yesterday and in the end nothing really happened. Today I think there's more economic news to hit the tape so hopefully there's movement one way or another.Comment -
Hedged High dividend play equal parts
YieldMax TSLA Option Income Strategy ETF (TSLY) Stock Interactive Price Chart (seekingalpha.com)
1 share of each @ todays current cost
$29.25 payout according to last month's dividend = $1.82 monthly dividends per shareComment -
I do think the market can hit new all-time highs, we're only 4% away on the S&P 500. That said, the top performing sectors over the last month have been 1) Real Estate, 2) Utilities 3) Consumer Staples, and 4) Health Care. Over the past 3 months, Real Estate, Utilities, and Health Care are the only sectors to outperform the S&P 500. It looks like the market is taking a defensive stance.Comment -
Well the SPY made it to the $543 spot which roughly correspondes to a 60% bounce back from the recent dip. Or for you Fibonacci fans the 61.8% area. Is this it? Yeah maybe, I'm kind of expecting another down leg. Then again who knows. Numbers I like as resistance/ support
Upside SPY: $549, 555.50, 559.50, 562.40, and the all time high 565.16.
Downside SPY:$538.75, 536.60, 534 532, 527.50, and 522.50Comment -
Maddy, Josher, Slurry
thank you for keeping this thread alive.
6.5 years now and going strong!
good health and good investment returns to You and Yours
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Not quite to my target yesterday but we still have today yet to go. I would caution everyone that during election season reports and just about any market news will be completely fabricated as a political play. This goes for affects that move markets either way. Overall I believe we are heading for a cliff, but where that point is I have no idea so in the meantime, I just buy gold on any dip to hold and play weekly call and put options as a scalp to swing trade.Comment -
Intel 0.74 to book value ... Compliments to Investor Place
Using the market’s pessimism to your advantage
Billionaire Rob Arnott, founder and chairman of the board of Research Affiliates, is credited with one of my favorite investment quotes:
In investing, what is comfortable is rarely profitable.
Intel is not a "comfortable" investment today. On the other hand, buying a stock like Nvidia would be very comfortable. After all, even if its price fell, who could blame you for buying this AI chip king?
Be that as it may, Eric suggests Intel will outperform Nvidia looking forward. And part of his rationale is this difference in sentiment and expectation for the two companies.
Let's go to Eric in his August issue of Investment Report:
Trusting popular opinion is toxic because it tends to rely on linear projections. It expects yesterday's trends to become tomorrow's trends as well…
Clearly, popular opinion favors Nvidia over Intel. But I would take the other side of that trade. Over the next few years, I expect the unpopular shares of Intel to outperform the wildly popular shares of Nvidia.
Nvidia's high-flying stock anticipates ongoing Hall of Fame results, while Intel's depressed stock anticipates endless disappointment. It reflects a company that will continue riding the bench at the little league level for a long while.
Therein lies today's investment opportunity. Even modest signs of improvement at Intel could propel the stock to much higher levels.
A quick look at valuation helps shed light on why just a hint of good news could boost Intel's share price (and outperform Nvidia) …
Today, Nvidia trades at roughly 75X its cash flow, and its price-to-book ratio is 55.
Meanwhile, Thomas reports that Intel trades for just 11.5 times this year's cash flows and 0.74 times book value – its lowest point in history, and one of the few times it's ever traded below book value.Comment -
Last week the SPY got to within 50 cents of one of my targets. Not bad considering the SPY gained 20 bucks in total. I know it's a what have you done for me lately type of bidness. $555.50 is a pretty stout point of resistance so, I wouldn't be surprised if the market either hangs out here for a while or even trails back down a bit as the week progresses.
Same strategy, buy calls or puts that expire at the end of the week with the knowledge that I will be getting rid of them either daily or in a few days. If a level has been busted through, up or down, I wait until the hourly candle close to e
ensure that it is a breakout before buying.
Upside: $555.50, $561.50, $565.15, $57.75
Downside $553.00, $550.00, $549.00, $545.50-545.00, $543.00Comment -
Intel? Interesting theory, thanks.Comment -
Another, that I've been supporting for years here is FLNC. Look at the support levels over the last 3 years. There's a lot of underlying money/support in this one. Been like a cash register for me. Buy circa 15 sell some at 23? and keep building position.
Energy storage is the future!!Comment -
I've been adding various forms of gold in my long-term account for years. Guess I should venture out and consider some of these potential value plays.Comment -
Epic thread. I am going to dig into this during the weekend. Who knows if SBR is staying afloat much longer, but this seems like it's going to keep me entertained for at least a week, maybe moreComment
