[Slurry Pumper]

Well yesterday we got a pop and then a pull back. I think that continues probably starting today or tomorrow. Looking at the $406.50 on the SPY as a point of support, then $404. Up north its gotta get to and above the $412 spot for me to think the rally can keep going.
Meanwhile how about those precious metals? and better yet those large miners like AU are taking off in a quiet way which means you can still hop on that band wagon and hitch up until it gets touted on the bidness networks. IF you don't want to do your due diligence at looking at the miners try GDX and buy the basket etf.

[ChuckyTheGoat]

I don't like some of the Fangs like Apple, and Meta which have enjoyed a little run the last few months. Netflix is making a run at a huge break down monthly candle it produced last April. If that fails watch that sink like a stone.
I think Chewy will come down to make a double bottom on the monthly at around $22 before I'm willing to step in there.

Salud, Slurry. Sold some AAPL.

[milwaukee mike]

Well yesterday we got a pop and then a pull back. I think that continues probably starting today or tomorrow. Looking at the $406.50 on the SPY as a point of support, then $404. Up north its gotta get to and above the $412 spot for me to think the rally can keep going.
Meanwhile how about those precious metals? and better yet those large miners like AU are taking off in a quiet way which means you can still hop on that band wagon and hitch up until it gets touted on the bidness networks. IF you don't want to do your due diligence at looking at the miners try GDX and buy the basket etf.

weird that hymc and mux are still so cheap, hymc could double today and still be cheap

[Slurry Pumper]

weird that hymc and mux are still so cheap, hymc could double today and still be cheap

Well those have almost doubled since the beginning of March, and will probably double again at the very least as people start to toss money at the natural resource extraction industry. I can tell you, my work in the mining sector has stepped up considerably in the last year. Well except for things in the U.S. for some reason that market isn't working that well for me.

[ChuckyTheGoat]

Hey, Madison. LAC: in!

Buy low, right? Thanks and Good Luck to us.

Madison, LAC +4% today. Giddyup.

[Madison]

weird that hymc and mux are still so cheap, hymc could double today and still be cheap

HYMC ... care to comment on the possible delisting. Looks like they got an extention until 10/2023 to meet the minimum bid. In the article I read the (at least for me) scary comment about potential for a reverse split.

Best,

[Madison]

Madison, LAC +4% today. Giddyup.

The whole Lithium sector is VERY volatile. I'm in LAC for the long run unless something terrible happens.

[Madison]

HYMC ... care to comment on the possible delisting. Looks like they got an extention until 10/2023 to meet the minimum bid. In the article I read the (at least for me) scary comment about potential for a reverse split.

Best,

Also, market cap versus revenue is concerning.

[milwaukee mike]

HYMC ... care to comment on the possible delisting. Looks like they got an extention until 10/2023 to meet the minimum bid. In the article I read the (at least for me) scary comment about potential for a reverse split.

Best,

to me it doesn't really matter whether they trade on nasdaq or pink sheets or wherever, the company is worth what it's worth... also doesn't really matter if they reverse split... if amc/ape ever gets their $12 billion they will just buy the rest of hymc

reverse split, delisting, whatever, they still have $170 million in cash and mine that is worth more than the debt... at $2000/ounce gold, and $25/ounce silver, the gold is worth $700 million and the silver is $2.5 billion.

so the stock is really a no-brainer at 50 cents, probably worth $2-3

[Madison]

to me it doesn't really matter whether they trade on nasdaq or pink sheets or wherever, the company is worth what it's worth... also doesn't really matter if they reverse split... if amc/ape ever gets their $12 billion they will just buy the rest of hymc

reverse split, delisting, whatever, they still have $170 million in cash and mine that is worth more than the debt... at $2000/ounce gold, and $25/ounce silver, the gold is worth $700 million and the silver is $2.5 billion.

so the stock is really a no-brainer at 50 cents, probably worth $2-3

Thx!!

[milwaukee mike]

Thx!!

no problem, we have a good mix here... slurry with the technical analysis, me with the accounting background, etc

another thing on hymc, if you're a covered call seller there are options, for example you can get .15/share for the jan $1 call... so now you're in at 35 cents instead of 50 cents, problem of course being that the max you get is $1, but the offset is 35% premium for 9 months on something 100% out of the money.

or you could get cute and sell the may $0.50 calls for $0.10, that gives you almost 20%/month

[Slurry Pumper]

Last week we saw the banks come in with decent earnings on Friday but the markets still put in a doji candle or close to it after going up to hit the trend line made from last November's low point. Over on the weekly chart in the SPY you can see from below, the candle stick went up to tag the line and pulled back a little bit to end the week after fighting off a doji from the week before which is a sign or signal of a momentum change. Not last week as prices surged higher and it looks to me like $419 is the goal which is the 100 WMA, and a resistance line from way back that has been played with several times in the last year or so. I like those stochastic lines still spread pretty far apart on the bottom right hand side of the picture, and volume even picked up to normal when it was slumping for a few consecutive weeks before. The VIX has come down and is right near a level of support where we could start to see that bounce so keep an eye on the VIX.
Bottom line is I suspect we get a rally here to at least the 100 WMA next week in the SPY with at least an attempt of $419. The banks will lead the way with several of them reporting early in the week and I can see the narrative on all the business channels will be the banks are out of the woods here. Same story was going on in 2008, and I have to tip the hat to the bean counter's ability to shuffle the numbers around to make it look better than it really is. Then there is a high likelihood the VIX and the dollar will rebound here which is a bad sign for stocks. I'm still long in the short term for next week with a itchy sell trigger finger here if I see stuff starting to go to shyt below $410ish on hourly closing candles. I did buy some out of the money PUTS ($350 Strike, 12/29 termination) in the SPY last week for a long play, and will add to the position if we see $419ish or $402 on daily candle closes.

Also think Gold will probably come back a little bit here in the coming week to few weeks. We'll see if it can hold $1950ish, then I think it resumes the march up the slope later probably in late May when it bust through the all time high.

unwinable

[milwaukee mike]

gold took a $30 dump from $2010 to $1980... who cares, it's probably worth at least $5k with inflation/stagflation just getting started

[Slurry Pumper]

This entire week was a small range sort of tape with plenty of chances for a market drop but the by the dip crowd coming in and propping things up. Next week it's techs turn for earnings.

[homie1975]

just returned from two week vacay. did i miss anything big ?

[d2bets]

just returned from two week vacay. did i miss anything big ?

Not really. April has been tight range bound.

[Slurry Pumper]

Is today the day markets wake up and move one way or another? Who knows, but I'm still holding that around $420 on the SPY is the line. Unless they can get there it will be a down slide for a bit. If it does get there for a daily closing. Be on the lookout for a short squeeze as people like me cover. On the way back down, there are support locations just about everywhere, but below $408ish on the SPY with the daily close is where I think the buy the dip crowd has a hard time mustering the fight. Until the numbers I mentioned are seen, it will be choppy sea for you market sailors.

[Snowball]

Sell in May will work this year.

[Slurry Pumper]

Well the SPY cut through my 408ish line like a hot knife through butta yesterday, and that pretty much cements my bearish thoughts on the immediate future. Before the close I bought some PUTS that expire in about 5 weeks or so, but I fully expect a bounce either today or tomorrow. I'll be selling the rally to set up a bigger position for some downward movement in just about all the indices out there except for the QQQs. I think they will also fall, but for now they are defiant. This means I will hit them a little later in the week to start, and probably heavier in the upcoming week / weeks.
As for the GOLD, we did get a slight pullback, but never really tested the 1950 spot. Actually think another good area is the 1920ish spot if we find the price down there. Other than a pullback to shake out the short timers, I'm in for the longer haul as the metal gains energy to bust through the all time high here in about 1-3 months.

[Madison]

just returned from two week vacay. did i miss anything big ?

Real question is what did we miss. LOL

[Slurry Pumper]

Very interesting closing yesterday in the SPY had me buying calls that expire Friday as I believe that my prediction of a bounce will happen today. I can see the manipulation in the interest rates to get tech rolling along with the big boy tech companies coming in beating earnings estimates that they themselves put out there. This week's closing will be really important to the future moves so watch the rally til the close, then hammer the short plays. Just look at the Dow Transports and you can see what is likely to come.
Please don't get sucked in to the FANGMAN group, but use the opportunity to take profits if you already own them. And/or get ready to short.

[ChuckyTheGoat]

Been buying MSTR when opportunity presents itself.

Been selling off: AAPL and a few REIT stocks.

[Slurry Pumper]

Well the bounce yesterday was a little more than I expected and it seemed a little dangerous at the time, but I went ahead and bought a regular entry amount of Puts in the QQQs that expire just after Christmas. This gives me SPY, IWM, and QQQ puts for this time frame. I sold all of those calls from yesterday because that profit was just too great to leave hanging overnight with the last day of the week and month coming up today. For today, the 414.25 spot on the SPY is the next level I'm looking at and of course my short squeeze area of $419 is still out there looming. I think we get a pull back still and this news of a market melt up and things are looking well for the economy is all bullshyt. Gold still needs to trickle back down a bit before it takes off, and the KRE will probably be another good short play for the rest of the year here.
Do I have anything I'm going to go long with? Sure its a total speculative play on a shipper of all things believe it or not. ZIM at around this $16.50 to 16.75 spot is where I step in with gambling type money to see what happens the rest of the year and maybe beyond. I'll follow this buy up with another cost average down scenario at around $15 bucks but if it dips below $14.60 on a weekly close, I cut it loose and look for another place to toss highly speculative money.

[Snowball]

NBR is a buy now. posted chart on stocktwits.
_flipper_

[KDeen10]

The market has one big run left. The Dow has been hanging around it's ALL TIME highs for at least a year. My theory is when it's hanging near it's high after covid, banks, ukraine, rate hikes then it's going higher. If it were to hang around it's lows with a flurry of good news it would be going lower.

After this run we are looking at a big recession mostly caused by job losses because of automation. A recession maybe even depression inside 10 years.

[milwaukee mike]

Been buying MSTR when opportunity presents itself.

Been selling off: AAPL and a few REIT stocks.

vno eliminated the common stock dividend, which makes the preferreds even more stable... no reason stuff like vno-o should still be in the 10s, even with their commercial real estate problems it's worth 20

[d2bets]

The market has one big run left. The Dow has been hanging around it's ALL TIME highs for at least a year. My theory is when it's hanging near it's high after covid, banks, ukraine, rate hikes then it's going higher. If it were to hang around it's lows with a flurry of good news it would be going lower.

After this run we are looking at a big recession mostly caused by job losses because of automation. A recession maybe even depression inside 10 years.

Market is not hanging around all time highs. Still 15-20% off 16 months ago highs.

[ChuckyTheGoat]

vno eliminated the common stock dividend, which makes the preferreds even more stable... no reason stuff like vno-o should still be in the 10s, even with their commercial real estate problems it's worth 20

Sorry, Mike, I have no idea what VNO is. What is the stock symbol??

Vornado Realty Trust NYSE: VNO ??

[ChuckyTheGoat]

vno eliminated the common stock dividend, which makes the preferreds even more stable... no reason stuff like vno-o should still be in the 10s, even with their commercial real estate problems it's worth 20

You like this one?

Vornado Realty Trust NYSE: VNO-O

[milwaukee mike]

You like this one?

Vornado Realty Trust NYSE: VNO-O

yes, should be an easy double over the next couple years

[ChuckyTheGoat]

yes, should be an easy double over the next couple years

OK. Thx, Mike.

[Slurry Pumper]

I largely took Friday off as the profits from Thursday's Calls were enough for me with the knowledge that profits can evaporate quickly. As it turns out Friday was a continuation of Thursday's rally with OK or decent volume. At the end of the day as the SPY, QQQ, SMH, were pushing up to the high for the day right at the close, I was buying those Puts that expire in late December just as I touted everyone to do a few posts ago, and even though the IWM wasn't doing the same, I also bought those Puts as well. I'm now fully loaded up waiting for the drop, or the breakout to come.
There may be a furtherance of the rally next week so $419 on the SPY is still a interesting spot, but I am moving my line in the sand to $422 on the weekly close after looking at a bunch of technical shyt this weekend. Its been raining all weekend here in PA and I've been pouring over the charts and looking at all of the indicators from Jim's indicator emporium, and I just think all the signs point to a drop, and not only a drop but one that will be pretty large and hurtful.
There is however a FED announcement coming this Wednesday and we all know that while anything can happen, it is more likely that a 0.25 point raise will happen again. Who knows how this will affect the markets, but more importantly the Fed's answers in the interview will move the markets around. In my view even if there is a short squeeze run above $422 in the SPY, it wont last, and I may, depending on how it eclipses this level, add to the Puts I have to be in a rare overweight scenario. The FED is why I'm moving my cut and run price to a weekly close because I can see a short squeeze happening early in the week but even if the market moves up after the Fed announcement, I can see a re-evaluation before the week end.
To re-interate its time to bust out those stones and put them back up on the block for this opportunity. I see an almost full stack of pancakes with bacon on it telling me that we are at or very near the top for the time being and the downside is near.
It's likely that I will be buying Calls that expire on Friday off the Monday opening if that banking collapse scenario isn't already moving the market down by then or atleast making investors nervous about going long. Its a hedge play and will help alleviate the losses in all of those Puts if I do have to sell those things at a loss.
It's gonna be a big week here at Slurry Pumping Central and weeks like this are the ones that make the profits for the year.

[homie1975]

Big week, Men.

fasten your seatbelts.

[Swaggy P]

How much are you up so far Slurry Pumper?

[Slurry Pumper]

How much are you up so far Slurry Pumper?

I don't really keep score on a daily basis, but I typically put up about 5% of the over all account in any given position, and it takes me 3 entries to get there. Its been an OK year so far, I haven't had the big win yet, but those are the things you can't bank on. I may have to grind out a 25% gain this year with my weekly index strategy of determining where the market is likely to move that week or day even, and placing bets to reflect that.