Stock Trading

[Del]

Aug 8: Stock market is up this morning, all excited about the latest Democrat spending bill.

NVDA gapped down over the weekend, probably due to fear regarding China and Taiwan. Currently trading at $181 at 9 am.

[sweetandsour]

Aug 8: Stock market is up this morning, all excited about the latest Democrat spending bill.

NVDA gapped down over the weekend, probably due to fear regarding China and Taiwan. Currently trading at $181 at 9 am.

NVDA revised their expected earnings downward, and it's stock price almost immediately dropped 15 points. But reportedly they've partnered up with another potential manufacturer stateside, in order to benefit from the recent chip legislation. Anyway the price just can't quite seem to get to 200, my exit target.

Re the market, I would've expected it to drop today, after last night's tax bill that got passed.

[sweetandsour]

Aug 8: Stock market is up this morning, all excited about the latest Democrat spending bill.

NVDA gapped down over the weekend, probably due to fear regarding China and Taiwan. Currently trading at $181 at 9 am.

NVDA revised their expected earnings downward, and it's stock price almost immediately dropped 15 points. But reportedly they've partnered up with another potential manufacturer stateside, in order to benefit from the recent chip legislation. Anyway the price just can't quite seem to get to 200, my exit target.

Re the market, I would've expected it to drop today, after last night's tax bill that got passed.

Re NVDA, it closed at 190 last Friday and opened at 175 this morning, going as low as 173 before closing at 178. I wanted it to keep dropping and bottom out in the 150s again, so I could buy some more. You know darn well it'll be back up at least into the 180s.

[gaining_age]

How bad will the market fall next with the pending interest rate jump to .75 to 1%?

[Del]

How bad will the market fall next with the pending interest rate jump to .75 to 1%?

Not too badly. The market already knows this is coming and they aren't worried. Interest rates are still low (below historically normal rates). The market expects the rate hikes to end relatively soon.

But we will see what happens this week. On Wed and Thurs mornings, some key inflation numbers will be announced for last month. Market expects that July inflation will be 0.2% (down from 1.3% in June; 0.2% is "healthy & normal" monthly inflation). Also the Fed will disclose their thoughts about inflation and future rate hikes. There could be some big market reaction to this.

Inflation isn't over yet. Gas prices have fallen a bit due to Biden's release of extraordinary amounts of our strategic oil reserve (1 million barrels per day). This will end suddenly in November (conveniently after the midterm elections) with half of our reserve depleted. If we aren't drilling by then, fuel prices will likely shoot up again.

[Del]

Consumer Price Index announced 0.0% inflation in July.

This puts us at an annualized inflation rate of 8.5%, down from the previous projection of 9.1%.

Stock market is already elated in pre-opening trading. SP500 (SPX) is already testing resistance and poised to continue its recovery from the low set in mid-June.

This could be a wild trading day. But maybe not.... there is a tremendous drop in the VIX (volatility index), indicating that the measure of fear is down.

NVDA is looking to open around 177.

Mercifully, I still have adequate margin on my condor in Russell 2000 index (RUT) that expires today.

[sweetandsour]

Consumer Price Index announced 0.0% inflation in July.

This puts us at an annualized inflation rate of 8.5%, down from the previous projection of 9.1%.

Stock market is already elated in pre-opening trading. SP500 (SPX) is already testing resistance and poised to continue its recovery from the low set in mid-June.

This could be a wild trading day. But maybe not.... there is a tremendous drop in the VIX (volatility index), indicating that the measure of fear is down.

NVDA is looking to open around 177.

Mercifully, I still have adequate margin on my condor in Russell 2000 index (RUT) that expires today.

I put in a buy order for NVDA at 165 but it got down to only ~167. Today it opened at 177, 10 points above where I was trying to buy at yesterday. Maybe I'm doing it wrong.

[Del]

I put in a buy order for NVDA at 165 but it got down to only ~167. Today it opened at 177, 10 points above where I was trying to buy at yesterday. Maybe I'm doing it wrong.

I was predicting that inflation news to be worse than expected -- not BETTER than expected. So I would have bet on NVDA at 165 or less triggering today as well.

NVDA has been searching for new levels of support and resistance since the revenue warning on Monday. It hasn't yet re-tethered to the SPX index.

I don't know what to tell ya. If you are bullish on NVDA and the market in general, then you can add some today at 175 and ride it out.

If you still want to gamble a bit, you can bet that it will hit 170 again while it is still gapping and searching for a level at which to tether to the SP500 again.

If you don't want to sweat the volatility, you can decide to wait until after earnings are announced on 8/24 evening. You might catch a big gap down. You might miss a big gap up.

It feels like UP to me... but my feelings are worth less than a tin of Valle Crucis.

[Del]

I had a really good week with my condor on RUT.

I sold a big, wide condor last Wed to expire today for $709. $5000 at risk.

I rolled up the low puts THREE times to squeeze some more profit as the index rose -- and I'm still not close to breaking through the calls!

I hope I haven't just jinxed it.

My total cash haul is $1328 on a $5000 position, or 26.6% in one week. That ain't normal -- but I'll take it. That's as much as I made in ALL of July. Also in May. (I lost $500 in June.)

Summer market doldrums are a great time for condors.
===========================

My position is copper is recovering. I'm in CPER, an ETF that tracks copper futures. So... paper copper.

I bought in early May on your buddy's bet that Russia/Ukraine conflict would end quickly (it didn't). Price began dropping in early June, hit bottom in mid July. I doubled my position on July 28.... and I'm getting close to break-even now.

I rolled up a covered call on my copper last week when the recovery started looking strong. I'm so glad I did, because I'd be looking at giving away half my position while it's still under water.

[sweetandsour]

I had a really good week with my condor on RUT.

I sold a big, wide condor last Wed to expire today for $709. $5000 at risk.

I rolled up the low puts THREE times to squeeze some more profit as the index rose -- and I'm still not close to breaking through the calls!

I hope I haven't just jinxed it.

My total cash haul is $1328 on a $5000 position, or 26.6% in one week. That ain't normal -- but I'll take it. That's as much as I made in ALL of July. Also in May. (I lost $500 in June.)

Summer market doldrums are a great time for condors.
===========================

My position is copper is recovering. I'm in CPER, an ETF that tracks copper futures. So... paper copper.

I bought in early May on your buddy's bet that Russia/Ukraine conflict would end quickly (it didn't). Price began dropping in early June, hit bottom in mid July. I doubled my position on July 28.... and I'm getting close to break-even now.

I rolled up a covered call on my copper last week when the recovery started looking strong. I'm so glad I did, because I'd be looking at giving away half my position while it's still under water.

There's money to be made just day trading NVDA's ups and downs. I just haven't caught the rhythm lately, or maybe just a little too greedy. But anyway I put in a limit order for 170 this morning, and it's at 178 at the moment.