Not touching TSLA. That company is a mess. I'd sell any bounce. The debt-ridden spike signaled the top imo
i feel like we're getting very close to some sort of short-term panic/capitulation/whatever we want to call it low here in the market. feels like most of the bad news is now baked into the cake. unless we're somehow going into a 1918 spanish flu pandemic (no way jose!), this all does seem like a massive overshoot on the downside imo. just like the upside last month was getting to be a bit of an overshoot on the upside. looks like we just about hit @Venom08's DJ30 downside target almost to a tee and have thus far bounced! very interesting.
Can't believe it.... Got into USO Jan 15, 2021 $9.50 / $10 call spread for $.07 Max sell price $.50 Max profit = $0.43 Possible 6 bagger math was all messed up...lol
just putting this in here in case i somehow forget to bump this later on this evening @Venom08. holy cow you nailed those calls to a tee (again!) the USD is having its best day in years today, and the DJ30 literally hit your downside target on the nose. golden mang!
Grabbed VIX November 18, 2020 $11 / $12 put spread for $0.21 Max sell price $1 Max profit $0.79 Little bit of a gamble, but if this virus dies off, it could pay off. GTC order to close @ $0.80
I've fully loaded up my SEP-IRA by now, the bottom is coming up no later than Monday. Low should be around 18800-19200 on a closing basis. Currently buying a ton of SPY, DIA, QQQ, UDOW calls that expire next year and 2022. I'm long UUP (long US$) via calls and I bought puts on FXE (it's a bullish Euro etf)
haha thanks! I'll be honest 2018 screwed me over because I bought the crash back then with calls but got burned later that year. They were mostly set to expire in the spring of 2019. I've slowly rebuilt my account since then, and it's probably the most it's gone up ever this past month. Most of my gains have been from gold shorts though.
well, another new record for most consecutive 4% (+/-) closes on the SPX today at 8 in a row also, did we mange to "close" above the 2018 xmas eve massacre lows on the SPX? i think we did right? ed: looks like we did, interesting.
ok, so far this drawdown in the market off the ATHs on a closing basis is -29.5% or at least on the SPX. something tells me the lows could be in, at least on a very short-term basis. this week def. felt a bit more panicky, and disorderly than i have seen in a very long time. i feel like this was a real overshoot on the downside imho. i'd be very curious to see if someone can put up a chart in here of one of the indices with the long term RSI. i'm interested to see if we broke any kind of oversold readings going back 10 or more years. i feel like maybe we did this week? but can't confirm. anyway, thus far this is the 2nd worst correction during an election year, with 2008 obviously still leading it by a mile. it will be very interesting to see how these next couple of weeks/months go. but, i just have a sneaky feeling that we might have seen the worst of this for the time being. feels like all the of bad news is now in the market for now. just my 2c here.
