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The Short-Term Trading Thread

  • Last Updated:
  • Nov 30th, 2020 3:59 pm
Member
Feb 14, 2010
492 posts
428 upvotes
Toronto
Back in SPY 343.25 quarter
Out 345.25

Still looking for the break below 3400 on the S&P; maybe next week will be it.
Have a nice weekend all.
Last edited by thelastword on Oct 23rd, 2020 3:40 pm, edited 1 time in total.
Deal Addict
Aug 18, 2003
1043 posts
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YVR
Strong close
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Jun 8, 2017
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inferiorplanet wrote: Thanks. No clue whether market will go up or down from here... But feel that room to fall is greater than room to rise in next few mos.
If North America/ Europe's covid spike this flu season resembles anything like China's in Jan/ Feb, may be in for a rougher ride than many anticipate. This is the rest of the world's first kick at the can during flu season.
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Aug 18, 2003
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YVR
market dipping on no stimi news - needs to hold 3400 ES imo....anyone else?
To learn who rules over you, simply find out who you are not allowed to criticize.
Member
Feb 14, 2010
492 posts
428 upvotes
Toronto
Morning folks
Lets see if the 3400 level can hold.
SPY 339 quarter
Looking to add and hold this position long term.
Member
Feb 14, 2010
492 posts
428 upvotes
Toronto
jerryhung wrote: oh, like TODAY they care about the Covid #'s?
They need a news headline for market down days and up days.
If tomorrow is up it will be stimulus talks ramp up or if its down stimulus talks called off until next year.
You get the story.
Deal Fanatic
Jun 27, 2007
5472 posts
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no positive tick all day, VIX at the HOD and markets melting down
was waiting to short, but no bounce makes this extremely dangerous. Missed early strength in NAS... hate Mondays! my mind is not quick enough
3372, this is supposed to hold, but I see absolutely no strength. every major sector down and tech not far behind.
next stop is 3200 and then maybe 3000 - longer term. I hope for a bounce to 3400-3420. if we gap down tomorrow, forget about it
It's easy to grin when your ship comes in and you've got the stock market beat.
But the man worthwhile is the man who can smile when his shorts are too tight in the seat 😃
In Fed We Trust - Make ES Limit Down Great Again!
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May 6, 2010
2847 posts
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Markham
That's what I asked the missus every time the market takes a dive. They didn't know about the 2nd wave, 3rd wave ... until now?

jerryhung wrote: oh, like TODAY they care about the Covid #'s?
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Oct 21, 2014
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Burlington, ON
jerryhung wrote: oh, like TODAY they care about the Covid #'s?
My guess - Covid numbers, stimulus, start of earnings week and presidential election next week has probably over torqued the algos. There's way too much "uncertainty" in wall street parlance.
Deal Addict
Aug 18, 2003
1043 posts
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YVR
Thinking about a short strangle on appl...anyone like it...? earns oct 29...sell (nov 6) 95p/sell135call for a credit ~ .60

Image
To learn who rules over you, simply find out who you are not allowed to criticize.
Deal Fanatic
Jun 27, 2007
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Charles wrote: Thinking about a short strangle on appl...anyone like it...? earns oct 29...sell (nov 6) 95p/sell135call for a credit ~ .60
pretty good trade. very conservative, sure money if nothing happens ;)
I see 100 as strong support. And with delayed phone, hardly all time high - almost 90% POP

p.s. markets bouncing from gap close - NQ 11360 and ES 3350. Now, I wish ES rises to 3400 on "continued hope for stimulus". This has been strong support, now should be resistance.

edit: shorted 3397.5 small. Market can still go higher a bit, although not much - 3410-3420. There is a chance we could open lower tomorrow and repeat today's drop - this risk has risen substantially. Also, bought few SPY puts in Dec 335 for 13.
It's easy to grin when your ship comes in and you've got the stock market beat.
But the man worthwhile is the man who can smile when his shorts are too tight in the seat 😃
In Fed We Trust - Make ES Limit Down Great Again!
Deal Addict
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Jan 28, 2012
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MrMom wrote: For those who were smoking the stimulus hopium, they can finally get with the reality.
No kidding, everyone knew there wasnt going to be a stimulus right now, should have just been priced in
Deal Fanatic
Jun 27, 2007
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Rhaegar wrote: No kidding, everyone knew there wasnt going to be a stimulus right now, should have just been priced in
no stimuli until Jan 2021? I would think so... but then, if Dems sweep, they could demand package now, eg Nov. Most likely, there will be smaller deal sub 1T
then we have the FED in two weeks, they can't do much, but commit to hold rates low for extended period of time. Like it depends on them
which means market is not going anywhere fast. Market is at the Feb 2020 level when unemployment was sub 5% and companies were performaning at its best
are we in the bubble? some companies are def overvalued, and some are zombie burning cash - their survival is questionable. Best case, they will be front loaded with debt for years and years (think airlines, cruise lines, industrials, hospitality, etc)
It's easy to grin when your ship comes in and you've got the stock market beat.
But the man worthwhile is the man who can smile when his shorts are too tight in the seat 😃
In Fed We Trust - Make ES Limit Down Great Again!

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