It's looking like the market just wants to whipsaw around. Not really sure it's good for trading today other than really quick day trades.
Expecting up though
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Today would be a good day to play stocks that normally fill gaps, decided to play PCAR again. Spread on calls wasn;t as big as usual.
PCAR options tend to have big spreads so i usually just throw stock in my 401k, but I didn't feeling like playing with my 401k this week. In this messed up market, I've been taking small potshots with my 401k, up 20k for the year. Single digit returns isn;t much, but still better than the fund managers.
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Whipsaw! LOL, markets now green
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I'm bearish on CASY for earnings but the options premiums are too high
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Held the green line which is bullish. I maintain bullishness until tomorrow morning then I'll figure out what to do next, lol.
Crazy whipsaw market, one thing i noticed though is that garbage stocks did not tank on the gap down today. they all just dipped, so I'd be careful about shorting garbage until next week. I flipped my PTON puts, didn;t make as much money as I wanted, but a win is a win
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Almost looks like teh market is setting up to pump bad news on Friday, inflation numbers Friday morning.
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More whipsaw, lol. Flipped my PCAR calls on the gap fill and bought one CASY put for earnings. Realized the premium is high because they're monthly puts.
No way people are spending money in the shops when gas pries are so high, and margin on gas sales are low so the high gas prices won;t help profits either.
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DAY BY DAY GUYS!
I think the market gaps up tomorrow, but you never know. Also, MFI went from oversold to overbought in less than 24 hours last week, the same could happen here. Assume more whipsaw, quick trades.
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I'm just gonna say whipsaw every day just so i can be right, lol. Hard market to trade, market selling on strength again, but not dropping on the gap down. It;s been a sideways drift for an entire week now.
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Indicators are slightly above the midpoint now, I'm guessing up and then back down once MFI and/or RSI get overbought.
In other words, more whipsaw, lol. But bullish for tomorrow morning, I think.
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Be car3eful how much position you carry overnight, we've been alternating up and down days lately
G*D*MN*D Whipsaw@#$%&***!!!! Lol I'm green on day but not by much. Missed the rip by minutes, closed longs early dammit.
And yeah, Fri could be pumper, last Fri was dumper, it pumped the Fri before that, weeklies alternate like dailies, eh... 10 Jun would be end of rally according to my active chart, that has been the duration of these bear rallies, see if they pump it.
hungry_hippo
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@DaddySawbucks, I wasn;t sure so I just did the easy play and played the gap fill on PCAR. PCAR almost always fills gaps.
hungry_hippo
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@DaddySawbucks, I bought one CASY put for earnings, I'm done, lol. Crazy whipsaw market. Gap plays seem to be the only thing that consistently make money
DaddySawbucks
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@hungry_hippo, yes, took a nap and woke up to a giant bear flag lol
jakslo23
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Today the US is pumping, while the Euros are dragging down, seems like they realized they are f...d after all. However, looks bullish for Nasdaq, 13500 in the near term seems probable.
jakslo23
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Yup, it is a challenging market, but still tradeable if you have time to sit in charts.
And yeah, Fri could be pumper, last Fri was dumper, it pumped the Fri before that, weeklies alternate like dailies, eh... 10 Jun would be end of rally according to my active chart, that has been the duration of these bear rallies, see if they pump it.