CME_MINI:ES1!   S&P 500 E-mini Futures
Futures selling off like I said it would yesterday. See the morning dip along with MFI scrolling down on futures charts.

When MFI goes oversold, buy some calls in whatever moves with futures . I liked AAPL and SQ but both are overdone now. MSFT might be better than AAPL now.

Of course the other obvious play is to buy index calls, SPY or QQQ .

But that's for next week.... hopefully the algo sell futures into Monday and we get a repeat of this week. Easy play to buy calls on Monday when MFI goes oversold.... for Ponzi Tuesday.

Cleared out all of earnings plays for this week, a little profit. Not my best week, but can't complain as long as I make money. Yesterday threw me for a loop, bet on some wrongs stocks (some went up and some tanked), also got hosed by DDOG .

Feb 14
Comment: Almsot all cash, WMT calls and RGR puts for earnings next.

I'm expecting a light afternoon selloff, maybe try some puts on something after lunch.
Feb 14
Comment: Glad I didn't. In any case, I picked up BLMN calls and FLR puts for Tuesday to go along with WMT calls. (Not sure about either one so I didn't post ithem)

RGR puts look like a good idea, chart pattern indicates a drop before earnings.

The end of the day action looks bullish but we've all been fooled by that crap. Mostly cash for the long weekend, have a nice weekend.
Feb 17
Comment: MFI touched oversold despite futures actually going up. As I said before, a melt up.... this is why I tell people not to short indices. Really difficult to short the market right now with futures melting up.

We'll see what it does tonight.

Comments

The last 3 fridays have all sold off, let's see if we can continue the trend
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@dane4, I think the selloff this afternoon will be light because most of the weak hands left yesterday. The market opened with a big drop, anyone skittish would have sold on open, right into the sucker drop.
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@dane4, see... no selloff becaues of yesterday. Not sure what the end of the day rally was all about thouigh, nothing shows up on indicators.
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dane4 hungry_hippo
@hungry_hippo, we broke the 3 Friday sell off trend going into a 3 day weekend, did not expect that. Perhaps the weak shorts covered.
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@dane4, @hungry_hippo that's one way to blow up your account chasing ATHs lol!
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dane4 nobullshytrader0
@nobullshytrader0, I disagree @hungry_hippo has the right mindset by ignoring price, the majority of all days have been ATHs this year. Follow the channel + MFI/RSI.
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@dane4, don't mind him, go look at his posts, he's been shorting the market for 4 months, managed to make money the last week in Jan, that's about it.

... and absolutely ignore the price. Options trading is about movement direction, as long as you get the direction correct you make money. Look at TSLA, lol.
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hungry_hippo nobullshytrader0
@nobullshytrader0, it blew up all right, $7k today, half of it on one TSLA call, lol.

Stop by any time. Maybe you'll learn to read futures charts. That open ES1 gap from Monday afternoon had to fill, and ES1 was oversold on my chart so it had to go up. Your trolling is a buy signal.
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