[RangeFinder]

Kicking myself I didn't place one for DKNG (Seasonality).

Did a Vert on Wells Fargo. Probably will close the position before the end of this week.

[RangeFinder]

Will apple hit 180 anytime soon?

Anyone's guess. I personally don't think they will hit 180 until next fall.

[Slurry Pumper]

No disrespect to Slurry and options, but anyone coming up with some decent stocks? I've been killing FLNC and a few others. My prior Lithium stocks have soared of late.

A pair I'm crying have missed are RIOT and MARA.

I've been all over the lithium play for a few months and pretty much they have been big winners.

I'm still waiting for my FLS play to break out. I bought that a week or so ago after the FED meeting announcement at $32.30, and now currently at $34.28. making another bull flag on da charts. It needs to break out above the $34.90 level for another leg higher to form.

Another play in the area where Flowswerve is is also making a steadier move up and that is Marathon Petroleum (MPC) closed yesterday at $95.18. Bounced off the 200 DMA and then just now made it above all the other moving averages and bumping up at resistance $96.50 and $98.15. After that I'm looking for $115.

[Madison]

i sell 15 puts on that one... and then if i have to buy at 15 i sell 15 calls against it... been pretty decent for a while

Nice. When did you place and what did you use for expiration? Been trading equities for decades but just now trying to acclimate myself to options. How long to expiration and ROI has always been a challenge for me.

[Madison]

Did a Vert on Wells Fargo. Probably will close the position before the end of this week.

What tool are you using to come up with WFC? Would really like to get a tool/understanding of "implied volativity" relative to the option chain.

[Madison]

I've been all over the lithium play for a few months and pretty much they have been big winners.

I'm still waiting for my FLS play to break out. I bought that a week or so ago after the FED meeting announcement at $32.30, and now currently at $34.28. making another bull flag on da charts. It needs to break out above the $34.90 level for another leg higher to form.

Another play in the area where Flowswerve is is also making a steadier move up and that is Marathon Petroleum (MPC) closed yesterday at $95.18. Bounced off the 200 DMA and then just now made it above all the other moving averages and bumping up at resistance $96.50 and $98.15. After that I'm looking for $115.

Always appreciated!

[RangeFinder]

What tool are you using to come up with WFC? Would really like to get a tool/understanding of "implied volativity" relative to the option chain.

I use TOS (Thinkorswim). When I do verticals, I use really boring stocks, ones that traded at a support level for awhile and then went upward. They're about a 2 week trade for me. I do them a lot and just start new trades after ones I close. I look for a min .72 Delta on the call side. On the put side maybe around .30. You can grab 15% ROI if done right.

[Slurry Pumper]

We got a little bit of a reversal today. Maybe the bears are coming back from vacation and a little bit of a pullback is in the cards. We are coming up on the 2nd month of this sideways to choppy rise in the markets I have been touting so I'm gonna start looking for a top number. The $425ish spot happens to be the 61.8% Fibbo retracement number for all of you natural science people. There have been several calls but for tomorrow if the close is below the $416 level, that would mean on a weekly basis the SPY rose above an important spot only to close below it the next week. That would be a selling signal for me if that were to occur.
I'm still in the $430ish camp, I think the Ranger is in the $454 camp although I may be wrong it could be another poster that I got mixed up with. Either way we are getting in that neighborhood for something to happen pretty soon, so if you haven't been participating in this latest rally, now really isn't the time to jump in and don't be swayed by the 0% inflation and the awesome employment numbers. Things still suck and will continue to suck for a while.
As for the options volitivity rates. All I know is the "Greeks" run all of that stuff and the rate of decay is a big mystery to me. Sure I would like to understand it more but I don't know shyt about it and the calculus that brings on the values isn't that interesting to me. I get enough difficult calcs just figuring out how to pump slurry around efficiently. All I do is when it is a quick day trade with an intraday change spot that I have previously identified, I hit it with a 1 or 2 day expiration because those decaying numbers are almost all down and pinpointing the place of change is the most important thing. You can usually pick up a contract for a couple of bucks, then another couple of dollar move just about doubles the investment.. It gets a little more tricky when I try to get a month out, and I find that is when I fail most of the time. My super long term things of a year or more even seem to work out for me if I identify a price I think a stock will be at sometime during the year and buy that number at a reduced rate or "out of the money" as they say.

[KnuckleHeadz]

I've been all over the lithium play for a few months and pretty much they have been big winners.

I'm still waiting for my FLS play to break out. I bought that a week or so ago after the FED meeting announcement at $32.30, and now currently at $34.28. making another bull flag on da charts. It needs to break out above the $34.90 level for another leg higher to form.

Another play in the area where Flowswerve is is also making a steadier move up and that is Marathon Petroleum (MPC) closed yesterday at $95.18. Bounced off the 200 DMA and then just now made it above all the other moving averages and bumping up at resistance $96.50 and $98.15. After that I'm looking for $115.

Mentioned MPC a week ago and during the pandemic when it was at $22.

We are converting one of the Northern California refineries into a Renewable Fuels Facility.

The Carson California facility is in the beginning stages of a 1Billion + project to rid itself of So Cal steam converting their main compressors into electric since they have the biggest cogeneration plant in California. The money for that projected will be recovered within the first 18months of start-up.

Take a look at the amount of refineries in the LA Basin and don’t be surprised two see only MPC and Chevron Producing in the Basin 10 years from now

[chico2663]

You call Trump a disaster. Bro, you are seriously delusional if you think he didn't do well for this nation economically and militarily. Look at what's going on now, you call the Dems a success?

Dude wtf. Trump is and was a disaster. Look at how much as a nation we took in and we spent. He will go down as one of the worst. He also was a fukk up military. We gave a partner that went back to old man bush. But his master in Turkey wanted them.


now back to stocks Tesla 3-1 split as of the 15th. Goog has still not made as much pre split (down 4. A share) but Amazon up 26. A share.

[chico2663]

Damn Tesla closed under 900. Was wanting to get 300 a share.

[Slurry Pumper]

After today it will be 2 months since the most recent low and the SPY and other indices are at spots that suggest things may make a turn. Over the weekend I had a pretty good look at everything so for me the near term top is 432ish. For today the line in the sand on the downside is 420.50ish. In between it's just regular summer drone type of stuff.

[ThaTopMoron]

i got in the BBBY push last week when it dipped back to 9 and ended week at 12.95

currently in pre-market it's at 15.25... popcorn kind of day coming up

trying to figure out when to get out... as both retail and big boys are in this play but think the big boys are going to try and leave the rest of us holding the bag


younger guy i know who works for pepsi told me to get into Zvia last week b4 earnings i got in at 3.25 it ended the week at 4.40... it's 52w low was at 1.86

[Madison]

i got in the BBBY push last week when it dipped back to 9 and ended week at 12.95

currently in pre-market it's at 15.25... popcorn kind of day coming up

trying to figure out when to get out... as both retail and big boys are in this play but think the big boys are going to try and leave the rest of us holding the bag


younger guy i know who works for pepsi told me to get into Zvia last week b4 earnings i got in at 3.25 it ended the week at 4.40... it's 52w low was at 1.86

trying to figure out when to get out... as both retail and big boys are in this play but think the big boys are going to try and leave the rest of us holding the bag

You are certainly gambling, but not for me to judge. Above stmt so true. BOL

[RangeFinder]

Dude wtf. Trump is and was a disaster. Look at how much as a nation we took in and we spent. He will go down as one of the worst. He also was a fukk up military. We gave a partner that went back to old man bush. But his master in Turkey wanted them.


now back to stocks Tesla 3-1 split as of the 15th. Goog has still not made as much pre split (down 4. A share) but Amazon up 26. A share.

Good news is we've got Donald coming back to be President, again. They raided his house for no reason. You liberals are so brain washed into the lies of this current admin. Can't help that, but voters can. November will be huge in getting idiots out of Congress. You can bank on that also.

That's if they don't cheat the elections. Again.

[Slurry Pumper]

So the daily melt up continues and for a trader like myself, its quite boring in the markets. Sure for the very short term I di pick up some CALLS yesterday in all the indices I watch, but aside from making steady gains day after day, it gets boring waiting for something else to happen. The last month has had very few down days which I suspect will change here probably during September sometime or when the SPY reaches about $432ish or maybe the push continues and we get to that $454 someone touted about 2 months ago right here on this thread.

[RangeFinder]

I think going long on a Put in the SPY, at 415 is a safe play at this point. I know most that get into Puts don't like going more than a few month's out, but this may be an exception. Going to go to at least Feb depending on the price. Should fully expect to close the position in January sometime.

[Slurry Pumper]

Well the SPY pull back a little just before the $432 spot which was just right at the 200 DMA. WE can't say it is a turn around spot yet, but for now atleast it is a resistance spot. We'll see how things go today. Yesterday's low is the spot I'll be looking at down south, $424.50ish. Below that starting with 10, 15,30 and finally hourly candles will get me starting to believe that maybe the markets are going to subside for a little while.
How about the continued march up north? Well the test of $432 is the point where they would need to break obviously with the same 10,15,30,and hourly candle closes. in between is just normal gamesmanship.

[pavyracer]

The stockmarket rises 2 years after a President is elected. The first 2 years performance is belongs to the previous presidents bad policies.

[guitarjosh]

The stockmarket rises 2 years after a President is elected. The first 2 years performance is belongs to the previous presidents bad policies.

Do you have any evidence for this, or you claiming that the market and economy from 2009-2011 was due to W., the dot-com bubble bursting and the 2001 recession was due to Clinton, and the early 80s recessions and bear markets were due to Carter?

[Slurry Pumper]

Looks like the SPY will open up below that 424.50ish spot. This may be a start of the pullback I've been waiting for. Can't say it is a down turn yet, just a pause. If the buy the dip crowd comes in this morning today could be a pretty profitable day for the people willing to take a day trade off the opening bell. The bouncy spot is right around $422.85 - $422.50 as a range. The SPY is getting there in the futures this morning and if it doesn't bounce before the open, I'll be playing the spot for a bounce with the knowledge that I may have to cut and run once the market bounces up and tops around 10:30 this morning, or the floor drops out and we go below $420 for any period of time.

[ThaTopMoron]

i got in the BBBY push last week when it dipped back to 9 and ended week at 12.95

currently in pre-market it's at 15.25... popcorn kind of day coming up

trying to figure out when to get out... as both retail and big boys are in this play but think the big boys are going to try and leave the rest of us holding the bag


younger guy i know who works for pepsi told me to get into Zvia last week b4 earnings i got in at 3.25 it ended the week at 4.40... it's 52w low was at 1.86

update

i KNEW the pump and dump was coming and they were going to try and leave US RETAIL holding the bags...

I CALLED IT

i sold my investment i bought in at $9 at 25 when it started to fly up tuesday morning... knew they wouldn't let it go like that ALL WEEK.

had no idea they would use the Gamestop guy selling his shares to cause the retail buyers to panic and sell... pretty genius

sold Zvia i bought into at 3.25 at 5.00 thinking it would slide back down towards 4.50 area again. pretty good prediction.

bought back in today at 4.80. think it will go back towards $10 or more over the next couple months

put all profits from BBBY and Zvia from buying in the last 2 weeks into AMC today on the dip so i will have more AMC and APE shares come monday...

[Slurry Pumper]

Alrighty those 2-3 months of sideways to up is coming to an end folks. This week the action will be important and I see 1 of 3 scenarios coming.

1. We continue the down slide and get below the 20 and 100 DMA on the SPY, $DJT, SMH and XLF by the end of the week but led by the QQQs. We would then be ready for the slide back down to and see if the lows from June come into play.
2. We get a shake out fake out operation courtesy of the trick, trap, fool and fuk you sideways crew when the market looks like it is going to fail and drop like Biden on a bike when it magically turns around at one of the following levels on the SPY; $418.25 - 417.75; $415.15 (20 DMA); $412.50, $408.25, and makes another run at the 200 day moving average. ($431.04) Before making the failure somewhere with the scenario as shown in scenario 3 maybe a couple of weeks into the future.
3. We wake up tomorrow and the rescue operation is underway and during the week the SPY makes a run for the 200 DMA ($431.04). It may come up short, spike through, or hit it on the nose before another rejection and the slide starts. It may even close a day or 2 above that level. My idea is wrong if we get a weekly close above the 50 WMA ($433) on the SPY.

All in all, the summer vacation and the melt up is coming to an end. Maybe not this week, but the dark clouds are forming.

As for my FLS (Flowswerve) play, I took 25% off the table on Thursday right before the close at $34. I'll take a little bit off the table and take that $1.85 per share profit while holding onto the rest and wait to see if the price can hold the $31.90 area where the support, 9, and 20 DMA happen to be at. Below that on a daily close and I'm short term out until the end of the downward slide in the over all market before jumping back in to try again at a lower level. Probably $28 if that is available at the time and the chart looks right.

[Slurry Pumper]

Well, the markets fell outta bed yesterday so scenario 3 is off the table. Scenario 2 is still in play as the SPY did fall and bounce off of $412.50ish ($412.40 actual) spot. Not bad for a Slurry Pumping fool. We can't say the rescue operation starts there however. It just may be a hanging out point for a further drop, but as of now it is looking like that cat is wounded at least. If it is a real rescue operation the 1st order of bidness is $415.15 which is the 20 DMA so that spot is now $415.55. If it can't even get there, that will be a notification that there are lower spots on the agenda for the very near term.

[Slurry Pumper]

Basically nothing happen today of note, all markets kind of took a breather but they are still in could go either way mode. This $412.50ish spot is the mark and the SPY was in that neighborhood all day pretty much after not being able to get above the $415.15 spot this morning. Below is the range that will bind. Above $418 on the SPY, (and similar for other indices), causes a run to fill the gap and towards the 200 DMA and maybe higher if the hype machine gets going. Remember we have elections looming soon and the FED will be coming out to give us all a good talking to after the close on Friday which will with no doubt move the markets to start the week after we all had a few days to digest.
Below $408 on a daily close, and I think we see the bottom fall out somewhat. There is slight support at the nice fat number of $400, but not that much and by then momentum selling may have taken over with the rush to sell.

All in all I can feel the move coming folks, and I'm in the it will tank camp. If not this week, then on the Monday after the FED. I don't think we will be waiting for a big move for too long. The only thing that is keeping me from saying it is a complete stack of pancakes is the FED coming out on Friday. There is a chance the bulls can come in for a buy the dip rally or the FED's statement might cause the bears to pile on. Remember I'm also in the camp of it doesn't matter what the news is, its all about the relation of the news to the charts so good news can be taken badly and bad news can be met will cheers all depending of which way the chart is positioned.

[RangeFinder]

Slur, I don't like the way this market is acting. Low volume, stocks way down off highs and some ugly chart patterns on the major indices. I did a covered call on F after the big hit they took yesterday. Wimpy I know. I will close all my Put positions by the weeks end before the disaster which is the Fed opens it's pie hole on Friday. No telling what the idiot is going to say. So, I will sit on my hands and let things play out.

[Slurry Pumper]

Well I hear what Range is putting down. Never a whimpy thing when protecting capital. I sold off a little of my FLS a few days ago.
Bought some puts in XLF off the open on Monday, and by the time the Fed comes out to lie to us, I plan on being out. I usually don't buy on a hole but I just see that hole getting deeper. The Fed statement will more than likely be a calming one so a pick up in the XLF is a high possibilty.

[ex50warrior]

And here comes another 1/2 Trillion $ of gasoline on top of an already burning inflationary fire. More devaluation of the dollar. I gotta keep buying commodity stocks.

[Slurry Pumper]

Well yesterday's inaction speaks volumes in the market as for the rest of the week it will probably be a bounce off of these levels. The SPY couldn't get above the nearest resistance of $415ish. Other indices have the same action going on so this morning they are simply going to gap over the $415 spot. I smell a gap and go this morning. The overall downslide is still going to happen, but not before they make another run up towards and maybe above the 200 DMA. So Scenario 2 is working out for the week.
Since I'm a few hours late to this trade, I buy a few calls in the IWM that expire next Friday off the open and wait until after the morning rush to decide if I should wait for an intraday pullback to buy more. It may still be a gap and crap which will send prices lower, but I don't see them getting below the $191.50 spot. If it is a gap and crap, I'm still coming in a little heavier towards the close today with calls that strike at $197 for next Friday. They are out of the money for now and cost is listed at $1.30 in the pre-market, and unless there is a turn around in the futures this morning, I expect to pick them up at a couple bucks off the open and on a gap and crap, they will probably go down to 50 cents give or take later in the day.
Its a small speculative play for me so a little capital with big payoff possible when things break my way. If they don't the bet goes down in flames, my longer term Puts make the same amount as my calls here. The longer term put plays are still intact as I bought those to expire after the election.

[Slurry Pumper]

A little bit of an audible this morning when the IWM was nice enough to come back to $193 where I loaded up somewhat. Of and running now so lets see how it does going into the weekend.

[RangeFinder]

Beware of the Fed tomorrow.

[Slurry Pumper]

Beware of the Fed tomorrow.

I should have mentioned this before. Don't try this at home kids, I'm a trained Slurry Pumper. Consult someone who knows what the F is going on because the Fed can come come out tomorrow and take a dump on you real quick if your not watching.

[RangeFinder]

I should have mentioned this before. Don't try this at home kids, I'm a trained Slurry Pumper. Consult someone who knows what the F is going on because the Fed can come come out tomorrow and take a dump on you real quick if your not watching.

Hence, the covered calls.

[slewfan]

Anyone looking at SoFi.. ? ..

With the government paying of the college loans, may have a positive affect…. It is 2+ dollars higher than it’s low and 18 dollars lower than it’s high.

I bought 1000 shares @6.59.. Was up, now down a little on the after hours.. Already have a thousand shares @ 15.75 before it went in the shytter…

[RangeFinder]

Anyone looking at SoFi.. ? ..

With the government paying of the college loans, may have a positive affect…. It is 2+ dollars higher than it’s low and 18 dollars lower than it’s high.

I bought 1000 shares @6.59.. Was up, now down a little on the after hours.. Already have a thousand shares @ 15.75 before it went in the shytter…

Looking at the 5 day chart, it looks like they hit a double bottom which is bullish. However, they do have some headwinds as a company and that loan forgiveness isn't going to send that stock soaring as most of their customers don't qualify. Long term you'll be ok once all these macro conditions go away which may be 3rd quarter next year. If you like their fundamentals, by all means hold long term 3-5 years if you're that type of investor. If you're a short term player, I think protecting yourself with covered calls weekly might be the right play until things settle down.