Stock too a major hit with the allegations against the CEO.
When he signed the stock jumped 7%
Today the stock is down following the market (-3%)
My major concerns with the allegations were the harm on the brand.
Current and potential future deals will be affected by the allegations against the CEO.
E.g. the hotel in Boston.
However now that the CEO stepped...
Looking to continue a few more days before I start building long positions again.
I am not building a short position because they usually are not very profitable for me, not worth the risk.
Happens to be free falling the same time as the crypto markets. Looking for absorption again to start building positions.
I don't want a repeat of Dec where I kept buying...
At a potential support area, but the price action is still a landslide in the 15-min interval.
Looking for "absorption" price action to consider it a support and buy in.
The price action for the day looks very bullish.
Today there was news about a downed Russian plane, and the market gapped down.
But oddly, the market made a strong move up through the day closing above the open.
However I'm going to try to use my volume analysis skills to use, and I see "somewhat" a different story.
I'm not sure if the first 15 move up is an...
Channeling upwards, staying under supply line
demand lines are showing an acceleration in demand
Closed today close to accelerated demand line.
Saw resistance at 202 twice early in the session.
Dropped to 200.50 mid-session but recovered to mid-range at 201.3
Volume is lower than average today at 105M, will be interesting to see if trend continues on Monday.
Have mixed feelings about this one.
The move today is very bullish, still need to check volume at end of the day, but I'm guessing it is above average with the gap up over friday. It steadily made higher prices throughout the day.
However we are reaching the 200 resistance line. And I previously considered 197.5 to be a resistance area. I think there is a good...
gap up, and steady move up throughout the day. Angle isn't very steep. Looks like hesitation in the last hour. More volume on the moves pushing up than the moves pushing down. (Maybe the colors are distracting, especially in consolidation areas)
SPY @ 188.2
Trading in a channel downwards.
Bigger trend is down, but at a possible support around 187.
Made lower low than yesterday, but by not much. From 187.3 to 186.9, before it started rallying up in the last half hour of the trading day. (not good for bears)
If this support fails, I expect next support to be ~181
If I am correct, I expect resistance...
SPY fell from 201 to 190 in 5 days, step ladder like.
drawing a channel, we are currently at a supply line.
In the last hour, SPY has been hitting resistance at the supply line.
I decided this is a good position to go short.
The risk, there may be supply at 190.5 area, the most recent low.
VIX is high enough for me to take a strike 7 points away at 200 for...
Added short position at 188, ~191 and at 193.4
@188, I had woken up and saw that the market had gapped up but trended down the rest of the day.
I recognized there was a support close by, but didn't have any short positions. I was scared of missing out so I entered a short position. Hindsight I caught the bottom of the day :(
sold OCT calls 51DTE 201/206...
I entered this long position earlier around 7:30am when SPY was at its lowest of the day, but it didn't get filled.
However it has hovered above that price and now broke that low and filled my position.
Originally I was going to wait for 204, but I decided I wanted to make sure I took advantage of the high volatility at 17.
So I added a long position
sold a 57...
@205.5 (-1.33%)
Gapped open lower, closed the gap then went even lower. Currently at lowest area of the candle.
This is a strong bearish move so decided to get on the call side.
sold 57 DTE Oct calls 212/217 for 1.08.
Could have done 213/218 for .88, but decided to take the extra risk for higher premium. Don't think it will reach 212 soon.
Am waiting for drop...
SPY @207.68 (-1.08% move so far)
Sold OCT put spread 199/194 for .86 58 DTE
I am treating this mornings move as an overreaction, taking the opportunity to place a trade farther out of the money with 199 strike.
I shouldn't have any concerns until SPY reaches 199.
If SPY reaches 204, I will enter another long position
FXI near bottom of range.
Will look at tomorrow's price action in the morning to determine if I want to get in.
If it stays around the 38.8 level, I am looking to get in.
If it goes up, I may decide to sit this one one.
If it drops a large percentage, I think I will still go in and bet it is an over reaction, but go in with strikes further out of the...
