OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT

GPRO under investigation for actions by a couple to people who made actions that may have breached fiduciary duties owed to shareholders. :nerd:
 
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ARWR posted some negative news looks like. Stock is tanking.

SPY looking horrible

1211090


Looks like it wants to take that recent swing low out and the lagging indicator is getting close to breaking beneath the cloud.

Have a plan guys. This is the kind of day you wanna short pops with set risk instead of trying to buy breakouts.

For anyone thinking about chasing some puts. Wait for some strength to initiate. You chase some puts now and the market rallies you're gonna get killed by volatility and delta.

Edit: Held the lows it looks like and SPY is now in r/g territory. Lagging indicator bounced off the bottom for now.

8erQIZ.png

Good bounce higher I've got some iron butterflies in AAPL and FB that I want to work. Plus would like some strength to short into.

Days like today you gotta be flexible and play the price action. Take the best risk-reward set up and see if it works. Maybe we have a late day fade, maybe we keep trucking higher.
 
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I'm not gonna play TSLA's event. Feel like I'm long the market enough with my FB and AAPL iron butterflies. Rather just be safe in case we give these gains back tomorrow.
 
JohnnyRedStorm said:
The ichimoku cloud. It's an indicator that I learned from KeeneOnTheMarket and I've found it to be a helpful guide to quickly gauge how healthy a stock is, where to base my risk, potential resistance/support areas.

You could get the cloud for free on StockCharts.com and through ThinkorSwim.

Intraday, the cloud works best on the 5 minute and with trending stocks (Keene loves using it for AAPL, TSLA, FB, TWTR). And at the open, he likes to use the break and close above the cloud as a buy signal, and below it a sell signal.

Using the cloud with the daily chart, when the stock is above the cloud and the lagging indicator is trending upward, it is in bullish territory. When it is below the cloud, it's bearish (and if the lagging indicator crosses the cloud to the downside that's considered confirmation). Inside the cloud, is considered neutral territory.

Here's TWTR's daily with the cloud:

1208473


The lagging indicator is the red line. The 9 period average is the blue, and the 26 is the pink. So far this one would be consider bullish since the stock is above the averages and the cloud and the lagging indicator is trending higher.

Here's FEYE's daily
1208474

As you could see it's below the cloud and lately when it tested the cloud, it failed to break above it. And the lagging indicator is trending lower.

It's a guide like everything else. I like using it along with price action to see how I want to plan trades, where to stop out or add in.

Looking at SPY here

JiX7Ya.png

It broke under the cloud, the dip got bought up and now it's back into the cloud. If it closes above the cloud and continues trading above it, we're in decent shape. If it breaks down below the cloud and trades beneath it for significant time, that's correction territory.
Click to expand...

Where do you get those graphs?

Also JCP got killed because they slightly lowered one figure, even though everything else is steady or increasing.
 
^ Don't know what website you're talking about but I like to use Estimize for past EPS and revenue data


Capture-611412814981.png



http://www.estimize.com/fb


FB's beat EPS & revs the last 5 quarters, and the last 7 of 8.....



JohnnyRedStorm said:
I'm not gonna play TSLA's event. Feel like I'm long the market enough with my FB and AAPL iron butterflies. Rather just be safe in case we give these gains back tomorrow.
Click to expand...



Yea I have a feeling the announcement has been overblown and investors are going to be underwhelmed, especially if the rumors about the dual motor and self-driving thing is true. Still holding my shares regardless.



Based Mod said:
Despite everything...........in on JNUG :nerd:
Click to expand...

Nice trade, Based :smokin
 
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^ thanks that's what I thought, but I just wanted to be sure. If it does it again, it's to infinity and beyond this time. :pimp:
 
took an Oct 18 call spread in YELP 80-84 for .15. someone bought 2200 84 calls so Idk, gonna take the chance on a little mini lotto here. Not confident enough to take the 84 calls outright, but who knows maybe there's some takeover chatter that fuels a squeeze. definitely a gamble here which is why I only did a 10 lot.
 
I've gotten chopped up this morning day trading FB and TWTR. Should've done a much better job. Wound up overtrading a little instead of being patient and letting stuff work. Was short TWTR at .85 with risk to the hod but foolishly took it off prematurely thinking it might grind back. nope cracked next couple of candles. Same with FB at .70 except I didn't flip short after closing out my long for a small gain. Thought about it but didn't even though there was good set risk to the hod. Think I'm done for now till there's a trend set up.
 
Glad I put a stop on the JNUG position I bought into yesterday. SHEEEEEEEEEEEEEEEEEESH. Came up a tiny bit

GLD up, GDX down day again :smh:
 
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Days like today you gotta love your stops.

My problem was I overtraded this morning so while my stops were small, they added up. Dumb move on my behalf.

FSLR rolling over back to my original entry from last year. Might do something with this one eventually. Chart is beat so being patient and nimble.
 
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LAKE smh why can't I just long these hype squeezes. Saw it with DGLY TKMR VIMC and scalped shorts when the big picture was buy the dip
 
TSLA dumping. That run up last week may have been it.

Gonna keep an eye on it in case a trend develops and it tries to go red/green. Doubtful but who knows with this one, when it gets going it moves. Has broken the cloud on pretty much every shorter time frame so far. Not looking to short unless there's some strength—not a fan of chasing in the hole.

FSLR I'm gonna watch that 52.50 level for a quick bounce if it tests. Market needs to behave for this to be more than just a trade though. I'd need a higher low or .50 o/u to base my risk off of. Not crazy about catching knives.

Edit: Damn man I had some FB 76 puts this morning that I bought at 76.36. Sold them way too early for a small scalp since I had to get away from the screen :smh: had like .30 average and they went over 2 bucks :lol: my own fault could've taken half off or just monitored it from my phone.

p2p bubble :nerd:

https://www.theinformation.com/Facebook-in-Talks-with-Peer-to-Peer-Lending-Sites
 
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Based Mod said:
Nah. I mentioned I was going to go all in and then take it off the table before the event. Would've made bank if I actually did.
Click to expand...


Oh yeah, that would've been a nice little come up. A short would've been :pimp: too. Elon should've let that AWD come out unannounced, I was thinking it would be the Model 3.

Though I'm not a huge fan of the stock, I'm tempted to grab some :nerd:.
 
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