195 replies to this topic

[12SPX]

That always is the problem, were addicted to the market lol!!  I have been trading for over 40 years so usually give more advice on trading lifestyle lol!!  The nice thing about how I trade is I can go years with paying only about an hour a day analyzing the market if I want and still make money.  Selling out of the money options is the best way to trade the market with little effort in my view and make good money with low risk and little attention if you have the right formula.  With out of the money options the plan isn't to take regular profits its to let that premium decay over time and basically let them expire worthless.  Trades like that 4200 call trade are short term trades so need to be on top of them so your right there just like the 4000 put I had sold at the bottom.  The 3500 and 3200 put trades are almost at the level of taking almost full profits but we'll see!!  When it comes to day trading, I've been following the tape on the market since I was 13 and why I basically only use basic technical indicators, go by the flow of the tape and option prices which is pretty simple.  Main reason why I'm thinking of a break is because its taking up to much time keeping my winning record going lol and tennis is calling!!  Do think this thread is popular though because even though we have differing styles we are the only guys on here that actually show our trades right when they're  placed not hours or days later lol!!!  Every day is an adventure that's for sure!!! 

[K Wave]

AAPL and MSFT still struggling around their big pivots around 149, and 270 areas...

 

Next few days should give some insight as to whether the recently made swing lows on those will hold or not...

 

My guess at this point is that June Monthly is going to be a bug ugly red candle on those...

But if not, then  will have to start to give bulls a bit more credit...

[K Wave]

Crude holding right where expected thus far intraday....

 

Breaking that pivot low just made is key to today's high being a big swing high...

 

If it does not get broken soon, then it could go even higher, despite it looking like Ukraine could essentially surrender at any minute...

 

Just way too many stories in the media right now about crude...so we are close, but does not mean we cant have full blowoff first.

 

 

 

Super interesting conversation I had with the local Pak Mail guy the other day.

 

I had always assumed he and his wife were Russian, but when I saw the F Putin and the Ukrainian flag he had on the wall, I suspected just maybe he was actually Ukrainian.

Anyway I asked him about it and we ended up having a fairly long conversation.

 

I told what I had studied about Eastern Ukraine and asked if it was true that that region really did align more closely with Russia.

 

Well...turns out he was from Donbass region, and while he is no fan of Putin, he is even less of a fan of as he called him "The Idiot Zelensky".

And he confirmed that the that region would prefer to be independent of Ukraine.

We both agreed people should have the right to govern themselves as they see fit, not as some world organization thinks they should be governed.

And he also said it was ridiculous to think Crimea would ever be given back to Ukraine, as it should have never been given to them in the first place by Khrushchev.

 

He is quite rightly concerned that Ukraine is going to end up far worse off than if they had just negotiated a deal with the Russians from the get go.

 

And then it took and even more interesting turn, when his wife mentioned that her sister's family had all left Ukraine, except for her husband, who...wait for it....

 

Is head of the Biological Lab program in Ukraine, and needed to stay behind in Kyiv, for obvious reasons.

I said to her, you mean the ones the NY Times and WaPo say don't exist?

She went OFF about the lying US press at that point.

 

And the kicker, not only do they have labs, but the US taxpayers fund them....

 

Anyway interesting times...

Edited by K Wave, 31 May 2022 - 10:53 AM.

[K Wave]

Trannies still riding the line...

 

Once it breaks, then we see if bears can roll it back over or not...

 

[K Wave]

Looks like WaPo is now trying to get out in front of it after the non-stop lying....

 

https://www.washingt...-tipping-point/

 

Anyone with a working brain saw this inevitable outcome coming from a mile away...

 

Although I still think there is a real good chance Russians are going to take Odesa real soon, unless Ukraine agrees to terms pretty quickly...

 

 

[K Wave]

I think 15 min crude chart is one to watch going forward...

 

If it breaks the 200 later on, and makes the air gap run down to the 900....odds that today was a major swing high would grow tremendously.

And another breach of the 900 might just seal it in...

 

OTOH, if it continues to hold the 200, and shoots out the top, who knows where she stops...

 

[K Wave]

Bigger picture on Crude...very likely all about the 2 hour 900 now...

 

A breach of that after a failed breakout at 110 could be deadly...

 

[redfoliage2]

SPX hourly chart still in extremely over-bought conditions, so expect more consolidations .................. 

[12SPX]

Finally got it starting my short build at 4160, profit stop 4159.75 sell above

[12SPX]

Oh and off to tennis,, will let you know how it goes!!