Stock Market/Investing

[knoxville7]

Been another really good week for Puts. Confident next week S&P gets into the 5400's.

thats like 2%, so prolly lol

question is, where does it go from there and how long does it stay down. we did just have 4 winning days in a row that went up till wednesday, so if today hadnt gone south so hard this week would not of been good for the puts

 

[HearshotKDS]

thats like 2%, so prolly lol

question is, where does it go from there and how long does it stay down. we did just have 4 winning days in a row that went up till wednesday, so if today hadnt gone south so hard this week would not of been good for the puts

10% is generally the healthy pullback/correction area from all time highs before market turns and starts to build new ATH. We had a few consecutive weeks in DEC and early JAN where market made new ATH so a lot of investors were expecting a pullback. Wallstreet wasnt expecting the new administration to be this aggressive with their questionable economic policy and I think that will push this correction to unhealthy levels - I would be shocked if we didnt hit 15% pullback in the next 2-3 weeks of trading and I expect to see the 500/5k/18k levels tested on the relevant indexs because the market loves symbolic round numbers. My guess is thats where it bounces and turns.

Heres the weekly channel and zones im trading SPY and SPX off of:

TA is sometimes called just astrology for men but its made me a ton of money the last 8 weeks. Markets hate the current instability and its absolutely made worse when the current US administration feels cute and tweets something stupid which seems to be an every week thing.

 

[HearshotKDS]

We hit 5400s on Monday like predicted, but I didn't expect such a sudden retrace back to the 8 ema which we almost had yesterday. Below is the channel i see in the Daily chart - I closed my puts spreads at open today because I suspect we will see SPY get back to where it closed yesterday and then expect it to go on to 563 where in my mind is a pivot point where the market can bounce or breakthrough and start a new leg up.



Ediy: SPY hit the 8 EMA 563.XX at 11:30, curious to see where we go from here.

 

[knoxville7]

We hit 5400s on Monday like predicted, but I didn't expect such a sudden retrace back to the 8 ema which we almost had yesterday. Below is the channel i see in the Daily chart - I closed my puts spreads at open today because I suspect we will see SPY get back to where it closed yesterday and then expect it to go on to 563 where in my mind is a pivot point where the market can bounce or breakthrough and start a new leg up.

View attachment 44713

happy liberation day! lol

 

[HearshotKDS]

happy liberation day! lol

Guess which point on the chart was when the tariff chart came out in his speech this evening.




Edit: Market is down another 10 points in AH after i posted this - this is covid black monday level drop in price. If you bought any 3 week or greater put at anytime since I made my post on March 14th they will be up at open tomorrow.

 

[Scoot26]

Not triggering a circuit breaker, so not as bad as COVID.. yet.

 

[TezMaKai]

Donald Trump is a fucking idiot

@Montucky
@greg23
@Noonthirtyjoe

Wasn't Trump's biggest selling point the stock market and economy?

 

[HearshotKDS]

Biggest drop happened between close and open, but im confident S&Pis going to run to 5400 even today. I'm up 30% on SPX 5450P and 25% on SPX 5400P bought at open. Probably going to take the money on these first green candle I see.

Edit: Good day so far



Edit edit: Last time spiking the football but I have another 80%er bought after I posted the above:

Ive made so much money today *so far*.

 

[Ares]

Schwabb keeps pissing me off because of their app.

I might pull my money out and move it to another broker.

@HearshotKDS what do you like, you're trading options and that's my gripe now on the Scwabb app.

I used to be able to get to an option chain right from the context menu of that item, but now you can't.

 

[HearshotKDS]

Schwabb keeps pissing me off because of their app.

I might pull my money out and move it to another broker.

@HearshotKDS what do you like, you're trading options and that's my gripe now on the Scwabb app.

I used to be able to get to an option chain right from the context menu of that item, but now you can't.

I use Fidelity but not because of its UI but because its the easiest to juggle my kids UTMA/my IRA/my cash brokerage account. I do like their "Chart +" for tracking channels and and support/resistance. But they dont have an easily viewable option chain. Honestly Robinhood might have the best UI as much I refuse to use their platform. I used Schwab 8 years ago and moved all of my assets off their platform because its horrible for anything other than buy and hold boomer investing.

 

[musclemom]

Donald Trump is a fucking idiot

@Montucky
@greg23
@Noonthirtyjoe

Wasn't Trump's biggest selling point the stock market and economy?

He's bankrupted 6 different businesses....lucky 7 is the country...

 

[HearshotKDS]

Biggest drop happened between close and open, but im confident S&Pis going to run to 5400 even today. I

Nailed it.

 

[musclemom]

Does anyone use the Fidelity Rewards credit card, instead of cash back you earn money to dump into an IRA?

 

[HeHateMe]

Does anyone use the Fidelity Rewards credit card, instead of cash back you earn money to dump into an IRA?

What's the percent on the rewards? Also, sorry for thinking you were nick80 when you dmd me randomly.

 

[musclemom]

What's the percent on the rewards? Also, sorry for thinking you were nick80 when you dmd me randomly.

No worries...so it breaks down for each $2 you spend, you get .50 in IRA money.

 

[HeHateMe]

No worries...so it breaks down for each $2 you spend, you get .50 in IRA money.

That's 25% and doesn't sound real, at all. What is the minimum Ira balance that one would have to have for this program, that sounds like a troll program?

 

[musclemom]

That's 25% and doesn't sound real, at all. What is the minimum Ira balance that one would have to have for this program, that sounds like a troll program?

Sorry read it wrong, it's 2%

 

[musclemom]

Sorry read it wrong, it's 2%

Of any/all spending

 

[HeHateMe]

Sorry read it wrong, it's 2%

That's cool still, but 25% would max contribution much quicker lol.

 

[musclemom]

That's cool still, but 25% would max contribution much quicker lol.

I'm debating between that and one that dumps the rewards into my kids 529 account.