it might actually be close to the bottom. I mean, we took a 10,000 point hit....****ing 40 percent. we may have a few red days, but I don't think its going to tank 2000 points like it did. I might wait for a 500-700 red day and go all in. long term plays and dividends. should have bought in at 18k LOL ****. although I'm still up for the past 30 days, after all this horse shit.
SVTP stock pick thread.
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I'm holding on to my calls. S&P closing above 2600 was extremely significant today. I saw some large players trying to close it below, but the Fed and FOMO came in and wiped them out. This was a level of resistance dating back to the 2018 trade wars correction and very important. Next stop is 2720 and then 2870 and then I'm going to go ahead and say the correction is fully over after that. Again, this may all sound crazy but today's action proved how much power the Fed now has, and we will get continuous short squeezing on the way up, particularly retail who will keep piling on their shorts and puts and getting wiped out.
Portfolio clawed back to down 41%. Max low was down 58%.
I'm down 16.48% ytd and feel pretty lucky.
VIX is holding up extremely well given current market action, which signals to me we may have some very bearish activity short-term. The way the markets are reacting today doesn't make much sense at all (what is new) so it will be interesting to see who wins the day. I am still long UVXY (I thought markets would gap down big today) and looking at NUGT puts and a few other small cap plays related to COVID-19.
Also kicking myself for not picking up CHWY during the last week while I had been waiting for a long-term entry. I like this company a lot!
Also kicking myself for not picking up CHWY during the last week while I had been waiting for a long-term entry. I like this company a lot!
The 2 trillion relief package and the Feds stomping on some shorties make figuring out the market tough.
They are doing everything in their power to keep the markets propped up, which is telling in itself.
-Fed Firehose for banking liquidity
-Congress Stimulus ++
-USD Swaps to stem foreign margin calls
-Pension EOM/EOQ buying
-HY+ IG tighter, bid
Basically, small businesses are going to get absolutely ****ed while the fed does everything in it's power to save the stock market and the big players.
-Fed Firehose for banking liquidity
-Congress Stimulus ++
-USD Swaps to stem foreign margin calls
-Pension EOM/EOQ buying
-HY+ IG tighter, bid
Basically, small businesses are going to get absolutely ****ed while the fed does everything in it's power to save the stock market and the big players.
Ridiculous....but exactly what I have been thinking. I keep forgetting that the stock market and reality have nothing to do with each other...
+700 today I mean WTF. Makes ZERO sense. Maybe the american people aren't truly afraid. I could be wrong but I think we will have the fastest market comeback in total history.
Agree on zero sense.
I thought for sure with the announcement of longer stay home recommendations, potentially until June, things would shit the bed.
Crazy.
“You’re full of $#!+”
Joe Biden
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Can't trust the activity of March 30/31. Lots of rebalancing going on and thee VERY important tape paint before everyone's quarterly 401k statement goes out in the mail. (when most passive investors see their holdings) this is crucial for consumer confidence. Let's see what April 1&2 bring. This Covid economy halt is probably going to last into the summer. Deaths will start ramping up soon. Nurses and Dr.s will start falling ill soon. Followed by their families.
Better testing about to show up on the scene too, so numbers will start going up. My friend had to wait 6 days to get a result for his Covid test. Abbott Labs has one now that does it in minutes.
Better testing about to show up on the scene too, so numbers will start going up. My friend had to wait 6 days to get a result for his Covid test. Abbott Labs has one now that does it in minutes.
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Man, I thought SPY was good to go to 272 at least. I should have followed the chart I drew a few days back a little more. Got rejected off the old channel, then RSI nosedived through it's trend line afterwards. I'm still holding my calls, they're dated pretty far out but it's not become more of a bagholding situation I have to be patient on instead of a trade. I still have my SNAP puts and I guess I'll be picking up more puts on something once volatility settles down a bit. Here's the chart:
Anyone else looking at APT? Flipped some calls this morning on the gap fill, but looking at this for a possible swing. Looks short-squeezy to me.
WTRH - I am long @ $1.16 for a swing....$1 stop $1.50+ target. Looking for this to get some momentum with other names in the category. Should see $2+ imo
WTRH - I am long @ $1.16 for a swing....$1 stop $1.50+ target. Looking for this to get some momentum with other names in the category. Should see $2+ imo
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lol.....market prices in double the unemployment numbers, but a tweet from the Trump sends oil up 35% in minutes. The man is smart, he knows the algos were going to buy that crap. I miss watching the markets every day like this.
Since casinos are closed, I took out a small gamble today and bought some SPY puts that expire tomorrow when SPY was trading over 250
I am holding KLXE ($0.71 average) into next week OPEC meeting on Monday. Riskier play, targets between $1-$1.50
Also, call me crazy but I am looking at LK calls. I think this goes back to $15 area.
Also, call me crazy but I am looking at LK calls. I think this goes back to $15 area.
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WTRH - Stopped out, but I went long again with a small swing position at $0.97. I don't think this one is done yet.
KLXE - I didn't get my OPEC meeting push like expected, but the chart was really beat up and looked good on all time-frames. Sold at $1.45 this morning for 105% . I will likely get back in this if it wants to retest my original buy area.
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