flsupreguy EXACTLY. We are in for a bumpy ride!by Darcy3 - Trading Discussion
NYCSB: "Yea, the next several days will be key in seeing which direction we choose. The support on GW's monthly 21sma is there at the moment. Time will tell" I don't know... whenever I see the 200 moving average above the 50 moving average I look for PUTS. This was the 5 and 8 chart. But when I look at the 21 I see a downward push of the 200 moving average. That sends me a signal or warby Darcy3 - Trading Discussion
You saw something in advance of this huge sell off. Go back and re-look at what you saw. I don't know what chart you used for entry. I usually watch the 8, 21,34 and 55 now. If you used a larger chart compare what you saw to a smaller chart like a 5,8 or 13. I did this often before I finally figured out how I saw a move ahead of that actual move. I mean look at how the market did today (5/5/22)by Darcy3 - Trading Discussion
The market (DOW) has been down over the longer run since Jan 2, 22 according to the weekly DOW chart. The monthly broke the 20-moving average on 5/1/22. How this market acts over the next several days will be interesting and will tell if we will remain in a recession. My downward long-term trend has NOT been broken. What concerns me most is the DOW on the monthly chart going below the 20-moving aby Darcy3 - Trading Discussion
Congrads! I too like consistent small gains. 4/26 traded NVDA on open 192.5 Put bought 4 contracts 13.60 and sold near to the close for 15.75. Usually I don't stay long but 21 chart showed this never moved past the 20 moving average so I just rode it. Most of the time I am busy doing other things but minor surgery has had me stuck in the recliner this week.by Darcy3 - Trading Discussion
Got in @ 12:37 out @ 2:31 bought 4- 220 April Puts for 5.95 sold for 8.65 LOVE THIS STOCK!by Darcy3 - Trading Discussion
Thank you flsupraguy. Traded NVDA today @ 9:40 3 contracts $13.10. Put in a GTC for 13.60 sold out @ 9:45 for 14.40. Done for the day. Used a 5 and 8 chart for entry after looking at 13 for room to move up and GW's settings on Stoch RSI on 21 and 34. I could have remained right now @ 11:24 could have sold for 22.55. No I am happy to be out with my brick. It would have been a $2,835 profit...by Darcy3 - Trading Discussion
Traded OXY today off the 3,5,8 and cleared $322.50 in 7 minutes. It is a "brick". Right now, at 10:14 3/21/22 I am expecting a pullback using the 5, 8 and 13 possibly to $60. Then I'll take a look again. Watching my 20-moving average for the right signal.by Darcy3 - Trading Discussion
"Blow off the froth" I learned that from my cousin who lives in Wales. I don't get much froth off ginger ale my drink of choice. Anyway, today traded OXY at 9:52 AM 5 contracts for $4.20. Put in a GTC for .50 up and out at 9:59. Profit $322.50. Done for the day. Why OXY? I waited for my moving averages and then this.....by Darcy3 - Trading Discussion
Yes, this market is great for how I trade. Once you blow off the froth you can get to the real taste. It is going to be a bumpy ride. How long? Watch the larger moving averages. Cross overs will let you know.by Darcy3 - Trading Discussion
No. If you use the daily to trade you MUST buy out in time. Smaller charts are best for the weekly or in today out today options when using those moving averages. Places to look for a longer trend...Warren Buffet just bought a huge stake in OXY so oil companies are a bet on right now. Allow me to share this IF IF IF you trade on a daily chart find what small chart best goes along with you daily cby Darcy3 - Trading Discussion
Trade banks and/or credit cards on that news I have LOVED SQ!by Darcy3 - Trading Discussion
Looked at doing some calls today (2/28 @ 10:00AM) but the spread on the ones I looked at are $1 to $1.10 spread. I am waiting until lunch.by Darcy3 - Trading Discussion
RichieRick this market isn't doing fundamentals and as I know you well know that could change Monday. It is trading off the news in the first few hours. Market went up as soon as the news began saying Russia and Ukraine were in talks. The 21, 34, 55, 233 all have the death cross with the daily close to one. The 233 shows DOW could hit 34,200 while the daily 34,600 to 34,700. Moving averages justby Darcy3 - Trading Discussion
Yep, GameOver another term is "round trip".by Darcy3 - Trading Discussion
If I had vault stocks I would keep them but I would also be doing widows and orphans (covered calls) if I owned enough to do those trades.by Darcy3 - Trading Discussion
I warned that the DOW was heading down. I didn't think it would be because of Russia aggression but I said " Yep NVDA since I posted above has moved $40 down. Market is running scared today. From what I see thus far DOW's heading to 31,800. That's what I see at 10:13 1/24/22" Because of a possible cyber war look for stocks that offer cyber security. They should go up. Expect pullbacks (by Darcy3 - Trading Discussion
If you think about it really most all trades are NEWS. I remember GW telling our class to take notes on the market, what made it move. Investing should NOT be done on news. You need research to invest. A trade is there to catch the ride not the knife. Researchtrade is a great example of using news combined with research on a company to invest and then use the research to do a covered call. Tradeby Darcy3 - Trading Discussion
I remember that being said but the way I trade in today/out today NEWS trades have treated me very well. Today (11/15/22) with a sour PPI report the market shot through the roof (should have caved) and according to the talking heads it was because Russia is supposed to de-escalate. Just hearing that caused the market to move up on rumors but there is more to it than that...possible short coveringby Darcy3 - Trading Discussion
It does look like we are in sink with our thinking. The market really doesn't look good. Once they (the Federal government) declares this pandemic over interest rates will soar. I venture to say at least a quarter point and probably every quarter. I like what Ghabour said 4 weeks ago because I could see it on my charts. Also, he said watch the bond market because it is really telling the directioby Darcy3 - Trading Discussion
Looking at the DOW, and NADAQ according to my weekly and monthly charts we are still in a down trend. I use a regression line which gives me a bottom top and center regression. The trend still shows down for those time frames. The S&P however on the weekly shows down while the monthly chart shows up although the monthly chart is beginning to flatten. As those of you have done this for a whileby Darcy3 - Trading Discussion
Yep NVDA since I posted above has moved $40 down. Market is running scared today. From what I see thus far DOW's heading to 31,800. Thats what I see at 10:13 1/24/22.by Darcy3 - Trading Discussion
PS... I removed how I would have traded NVDA for the long trade buying out in time off an 8 chart from a close. I felt it needed to be separate from how I traded FB. I stated that I would have traded off the fact that on the 8 chart the 50 moving average blocked a high point even though there was a long white candle on 1/18/22. I would have bought a PUT for the following month. After the close NVby Darcy3 - Trading Discussion
RichieRick "Do you always buy options in the money?" Yes. I expect to be out of my trades in about 1- 2 hours so why buy out in time? Yes, I found it a waste of my money to buy out in time because I do not trade "to hang in there". I fully expect to be out of my trade quickly. If you are trading using earnings or splits, then buying time makes sense. I do not use weekly's (hatby Darcy3 - Trading Discussion
flsupraguy "What do you think was the underlying reason the stock gapped up like that?" I don't try to understand any underlying reasons. I merely use moving averages to tell me if a stock will go up/down and to about where it will go. Remember Bollinger bands are also moving averages. The gap for EXPE on 5 chart happened on 1/12/22 and then consolidated. That gave me the clue that thiby Darcy3 - Trading Discussion
Bought 5 Jan 182.5 calls @ 9:52 of EXPE Used the gap lines I had placed in 8 chart from 1/04 plus 50 moving average pushing it higher. Put in a .50 move. Out at 9:56 with $625.00 profit. Note white candle starting at 9:51 on 21 shows no bottom wick. Momentum was in the upside. Full move up in EXPE was at the open. Been trading ROKU and FB most often.by Darcy3 - Trading Discussion
Thank you NCTrader. Miss him every single day.by Darcy3 - Trading Discussion
I scope through a list of stocks I watch in the morning beginning around 9:45 -10:00. I do begin looking after hours as to the position of the stock and candle before the open. @ 10:34 candle on 8 chart engulfed the white one before it. This shows the strength is leaving the upward projection. 21 and 34 chart confirmed direction. I played it down on the 8 chart to the 20 moving average which showby Darcy3 - Trading Discussion
At 10:38 got in Roku 237.5 Put. 3 contracts out .50 up @ 10:58 Using moving averages for when to get in and it it was going to go down. Needed at least $1. move from moving average to moving average in the direction I planned my trade, Moving averages are support and resistance. Bigger the moving average the stronger the support or resistance for the candle.by Darcy3 - Trading Discussion
Thank you GameOver for the nice complement.by Darcy3 - Trading Discussion