137 replies to this topic

[dTraderB]

Strong support & probable ELECTION SEASON SUPPORT ZONE 5640-60.
BUT, this & other support levels can be smashed if no conclusive result by mid-November.
In any case, I will continue adding to LONG POSITION

[12SPX]

That is a great question d and I have decided to hold off on day trading but have literally made more than 6 months of trading in just selling the 6000 calls twice this cycle alone as premiums were insane.   $52 to be exact lol!!  Took them off a few minutes ago.  I've taken also taken profits on other closer in calls and as of today but still holding my out of the money 6100 and 6200's for example but may pull them as they have great profits in them with a little premium in them below the $2 range now.  With the big sell off on Thursday I did sell some way out puts at the 5300 level but covered them also today for a small profits as there could be a huge drop as people are talking about.  NObody knows what really could happen and it may just be better to sit in cash and watch the show with some really rogue trade levels placed I think.  I was saying before that I thought we would sell down into the election and eventually rally into the end of the year and then after that a sideways we will go no matter who wins.  Of course no one really knows so we'll see but one thing I do know is that no matter what the market will be there to trade either way.....

Edited by 12SPX, 04 November 2024 - 09:31 AM.

[dTraderB]

Agree. I am slowly building SPY & QQQ CALL position with hedges. Also looking for pullbacks in big tech & financial stocks, A50 & HSI, and VST es & nq trades.
There will be BIG SWINGS UP & DOWN that will allow me to exit & enter above and then holding larger positions at extreme levels.
My FF is low around 5640 - 60.
FED will cut 50bps on Thursday, markets will pop, drop, & then wait for final resolution of this election.

I DO NOT THINK TRADERS will resist buying ES & NQ BELOW 5650 & NQ 19500.

That is a great question d and I have decided to hold off on day trading but have literally made more than 6 months of trading in just selling the 6000 calls twice this cycle alone as premiums were insane.   $52 to be exact lol!!  Took them off a few minutes ago.  I've taken also taken profits on other closer in calls and as of today but still holding my out of the money 6100 and 6200's for example but may pull them as they have great profits in them with a little premium in them below the $2 range now.  With the big sell off on Thursday I did sell some way out puts at the 5300 level but covered them also today for a small profits as there could be a huge drop as people are talking about.  NObody knows what really could happen and it may just be better to sit in cash and watch the show with some really rogue trade levels placed I think.  I was saying before that I thought we would sell down into the election and eventually rally into the end of the year and then after that a sideways we will go no matter who wins.  Of course no one really knows so we'll see but one thing I do know is that no matter what the market will be there to trade either way.....

[dTraderB]

Add 1 each qqq, spy CALL @ 5737 20095

[dTraderB]

Will be surprised if es, nq markets do not finish at or near low at 5pm today

[dTraderB]

Closed 1 a50 long 13775
Closed 1 hsi long 20985
Holding long 1 each
Will add longs below 13500, 20750

[dTraderB]

Key developments that should provide more direction to U.S. markets later on Tuesday:
U.S. Presidential and Congressional elections
US October service sector surveys from ISM and S&P Global; Canada September trade balance
US corporate earnings: Super Micro Computers, Marathon, Dupont De Nemours, Archer-Daniels-Midland, Emerson, Microchip Technology, Jack Henry, Devon Energy, Assurant, International Flavors and Fragrances, Yum! Brands, Gartner, Progressive, Cummins, STERIS, Henry Schein, Targa etc
US Treasury auctions $42 billion of 10-year notes
European Central Bank President Christine Lagarde and ECB board member Isabel Schnabel both speak, ECB Vice President Luis De Guindos attends European Union finance ministers meeting
Bank of Canada and Bank of Japan publish meeting minutes

[dTraderB]

Danielle DiMartino Booth (@DiMartinoBooth) posted at 6:21 PM on Mon, Nov 04, 2024:
Since the market closed...

1) KPMG cuts audit staff 4%

2) Lattice Semiconductor to cut 14% of workforce

3) Paystudios to cut 30% of workforce

4) Navitas Semiconductor to pare headcount by 14%

Three large bankruptcies filed today per @business

cc @dailyjobcuts @MacroEdgeRes
(https://x.com/DiMart...9246280773?s=03)

[dTraderB]

DailyJobCuts . com - Layoffs / Job / Economy News (@dailyjobcuts) posted at 9:33 AM on Mon, Nov 04, 2024:

💰 Berkshire Hathaways cash fortress swell to a record $325.2 billion by the end of September. Warren Buffett continued his stock-selling spree and held back from repurchasing shares.
https://t.co/kffvCI1nWV

[dTraderB]

BREAKING: Samsung is cutting 30% of foundry staff, planning 50% chip line closure by end of 2024. 👀

-DigiTimes

Danielle DiMartino Booth (@DiMartinoBooth) posted at 6:21 PM on Mon, Nov 04, 2024:
Since the market closed...

1) KPMG cuts audit staff 4%

2) Lattice Semiconductor to cut 14% of workforce

3) Paystudios to cut 30% of workforce

4) Navitas Semiconductor to pare headcount by 14%

Three large bankruptcies filed today per @business

cc @dailyjobcuts @MacroEdgeRes
(https://x.com/DiMart...9246280773?s=03)