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BEARS battered, AI rally to new ATH


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#11 dTraderB

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Posted 03 June 2024 - 07:44 AM

NVDA up 38, much higher spike on "good news" but then retreated to a mere 3% up. Will close 1 or BOTH CALLS above 1150 & keep the 1100 PUT
Will add PUT above 1180 if traded today

#12 dTraderB

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Posted 03 June 2024 - 07:53 AM

Considering GNE PUT, 40 or higher JULY... but will watch the 5m chart after 9:30 am

Yes, this is an AI BUBBLE .... market can soar even higher, SPX 5600 possible before it cools... still this far smaller than the DOT COM BUBBLE:

The Kobeissi Letter (@KobeissiLetter) posted at 7:26 AM on Mon, Jun 03, 2024:
BREAKING: GameStop stock, $GME, soars over 80% after "Roaring Kitty" announces that he has bought $65 million of call options and $116 million of stock.

"Roaring Kitty" is currently up over $300 million on this $GME position.

The stock has now added $5 BILLION of market cap https://t.co/F23Yw4SBDl



#13 dTraderB

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Posted 03 June 2024 - 08:39 AM

Closed 1 CALL
holding 1 call, 1 put
Will close CALL or sell a call above 1165

NVDA up 38, much higher spike on "good news" but then retreated to a mere 3% up. Will close 1 or BOTH CALLS above 1150 & keep the 1100 PUT
Will add PUT above 1180 if traded today



#14 dTraderB

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Posted 03 June 2024 - 08:40 AM

Will add 1 each SPY & QQQ PUT above es 5315, nq 18750

#15 12SPX

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Posted 03 June 2024 - 09:17 AM

Awwwww spring starts. take your time although its raining here today lol!!  Was quite the reversal on Friday, could have held my longs into the close lol!!  Someone really needed to make their books look good for May.  That much of a surge can have a complete reversal though so we'll see what happens.  For now I have an average short of 5285 and 18650.  Could be an interesting June for trading as May was so strong but on weaker volume and there are more and more hopes for the rally to go to the moon but the economy continues to run out of steam and that could cause a sudden shock for the market overall.  So far its just been hitting individual stocks and the overall market is running on the AI hype which is another thing that could have a sudden shock or that maybe greasy baby or whatever his name is fails on gamestop lol!! 



#16 12SPX

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Posted 03 June 2024 - 09:18 AM

Jeffrey A. Hirsch (@AlmanacTrader) posted at 0:15 PM on Fri, May 31, 2024:

June Better in Election Years: Average Gains Range from 0.9% DJIA to 1.9% NASDAQ

https://t.co/n2UFtd6Irmhttps://t.co/f1jS3B5nYG

It's interesting as the chart that I saw shows June is weak on election years!! 



#17 12SPX

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Posted 03 June 2024 - 09:55 AM

Out of most of my ndx trade for a 40 point profit, we'll see about later selling more higher....



#18 12SPX

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Posted 03 June 2024 - 10:06 AM

Out of the rest for a 50 point profit and took 5 point profits on my ES trade.  Looks like I was right about the reversal and it almost appears that bonds are rallying a bit while stocks fall, hmmmmm



#19 dTraderB

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Posted 03 June 2024 - 11:03 AM

Closed 2 YEN SHORT @ 155 975 & 156.06
FLAT
Will reopen above 156.45

#20 dTraderB

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Posted 03 June 2024 - 11:40 AM

New SHORT 156.125
will add above 156.625, 157.20 ...

Closed 2 YEN SHORT @ 155 975 & 156.06
FLAT
Will reopen above 156.45