Stock Trading

[Del]

Last week was pretty wild, but the market didn't react with a lot of volatility.

News of First Republic Bank's failure spooked the market. But settled down when Big Brother agreed to bail them out. Financial sector (XLF) is lagging the market.

GDP for Q1 on Thursday morning.... market expected 2% annualized growth. The economy came in at an anemic 1.1%. You'd think the market would be fearful of a global recession, but the reaction was rather optimistic. I think investors are looking forward to some dovish talk from the FED next week when rates are announced Wednesday. If they don't get it, the hammer could drop.

Exxon and Chevron beat earnings on Friday. Some glee evident in XLE on Friday. As far as I am concerned, the energy sector is the only place that has real fundamental strength underlying any growth. It should hold on in case of any general market collapse.... although when the paddy wagon pulls up to the cathouse, everyone goes. Even the piano player.

Tech stocks are leading the market. LEEROY JENKINS!

[sweetandsour]

Last week was pretty wild, but the market didn't react with a lot of volatility.

News of First Republic Bank's failure spooked the market. But settled down when Big Brother agreed to bail them out. Financial sector (XLF) is lagging the market.

GDP for Q1 on Thursday morning.... market expected 2% annualized growth. The economy came in at an anemic 1.1%. You'd think the market would be fearful of a global recession, but the reaction was rather optimistic. I think investors are looking forward to some dovish talk from the FED next week when rates are announced Wednesday. If they don't get it, the hammer could drop.

Exxon and Chevron beat earnings on Friday. Some glee evident in XLE on Friday. As far as I am concerned, the energy sector is the only place that has real fundamental strength underlying any growth. It should hold on in case of any general market collapse.... although when the paddy wagon pulls up to the cathouse, everyone goes. Even the piano player.

Tech stocks are leading the market. LEEROY JENKINS!

I can't recall where I read it, an API newsletter perhaps, that oil prices have been rising but oil companies still fear a recession. The oil price and market prices are going every which way, with no real direction.

I'm still not doing it right, just buying and selling more on observation rather than research, wrt my trading account anyway. I bought some shares of Western Alliance at 39, hearing that it may rise just based on reported so-called sympathy rise when other banks reported some profits, but very quickly sold it at 38 for a small loss. But I made up for it by selling my AAPL at ~168, (bought at ~160), before it reached 169.

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

[Del]

I can't recall where I read it, an API newsletter perhaps, that oil prices have been rising but oil companies still fear a recession. The oil price and market prices are going every which way, with no real direction.

I'm still not doing it right, just buying and selling more on observation rather than research, wrt my trading account anyway. I bought some shares of Western Alliance at 39, hearing that it may rise just based on reported so-called sympathy rise when other banks reported some profits, but very quickly sold it at 38 for a small loss. But I made up for it by selling my AAPL at ~168, (bought at ~160), before it reached 169.

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

Oil stocks will lead when the recovery comes. But we aren't in recovery yet. Oil might do well during recession, relatively, but they aren't going to invest or gear up into the teeth of a global downturn. If America has a change of heart and leadership, we might even see taxpayers investing in energy infrastructure, as energy companies are not going to invest much into the risk of another Biden death stroke. (I just read that the company behind Keystone XL has abandoned all efforts to finish the pipeline. They are restoring the land to original state, per their contract requirements.)

I just pulled up JEPI. I want to smoke a pipe and look at it. I'll let you know what I think.

I've made $25,000 this year on condors, starting with $55,000 in my account.

But I lost $12,100, being stupid with XLE. I sold at the bottom of the bank failure crash. I need to keep my position size small -- and admit that I'm just not very clever about buying and selling stocks. I should just hold my position and let it grow in its own time. Maybe sell some covered calls when it's at a swing high.

[Del]

JEPI has extremely low volatility. As a result, there's no premium to speak of regarding covered calls. If I invested $11,000 for 200 shares, I could expect to make just $4 per month in covered calls. 0.45%.

This is an ETF to hold for its dividends. It pays 10% to over 11% per year. On 200 shares, that's better than $1200 cash per year in dividends, or $100 per month. That's about how much I want to make by selling covered calls on a more active position -- about 10% per year.

Definitely no excitement for a trader. This feels like a decent place to park some extra cash and forget about it.

I am intrigued. This feels like a good place for me to hide cash from myself, so I am not so tempted to overweight in XLE. It pays out dividends monthly.
https://www.nasdaq.com/market-activity/ ... nd-history

[Del]

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

AMD reports earnings after the bell tomorrow (Tuesday). Good luck!

JEPI is trading ex-dividend as of today (May 1). In premarket it's down 1% from Friday's close, equivalent to the dividend.

I am looking for an opportunity this week to sell 100 shares of XLE (I already have too much again) and buy 200 shares of JEPI.

[Del]

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

AMD reports earnings after the bell tomorrow (Tuesday). Good luck!

JEPI is trading ex-dividend as of today (May 1). In premarket it's down 1% from Friday's close, equivalent to the dividend.

I am looking for an opportunity this week to sell 100 shares of XLE (I already have too much again) and buy 200 shares of JEPI.

I got everything cleaned up this morning, taking advantage of the morning surge before XLE began to drop. That felt kind of good. I sold 100 shares at 85; it's down to 84 now.

I had a short put to buy XLE at 84 on May 12. I don't need any more XLE, so I closed that option. Too much risk of getting assigned in the money.

I'm going to sit on 200 shares of JEPI and collect dividends. As long as it puts cash in my account, if it drops in recession then I can wait for global recovery.

Thanks for advice regarding JEPI. I'm gonna sleep a lot better now.

[sweetandsour]

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

AMD reports earnings after the bell tomorrow (Tuesday). Good luck!

JEPI is trading ex-dividend as of today (May 1). In premarket it's down 1% from Friday's close, equivalent to the dividend.

I am looking for an opportunity this week to sell 100 shares of XLE (I already have too much again) and buy 200 shares of JEPI.

I got everything cleaned up this morning, taking advantage of the morning surge before XLE began to drop. That felt kind of good. I sold 100 shares at 85; it's down to 84 now.

I had a short put to buy XLE at 84 on May 12. I don't need any more XLE, so I closed that option. Too much risk of getting assigned in the money.

I'm going to sit on 200 shares of JEPI and collect dividends. As long as it puts cash in my account, if it drops in recession then I can wait for global recovery.

Thanks for advice regarding JEPI. I'm gonna sleep a lot better now.

Wow, man, yw. I hope it works out for you. I should have bought some today myself for the next dividend, but it'll wait. I don't have a good feeling about AMD tomorrow, and am still beating myself up for not selling when it hit 99. The remainder of my account is still in cash, waiting for some deals. Crazy.

[Del]

I still have some AMD, bought at low 90s. I put in a limit sell order for an even 100, and watched it get above 99, but not quite 100, before it dropped to the mid 80s. It's back up to 89 now, and the papers say that if you have a tech stock now just hold it, so that's what I'm doing. I almost bought more shares when it was at 83.

An acquaintance suggested that I buy 100 shares of an ETF called JEPI, and sell covered calls for income. Plus it pays dividends 11%+. I hate to buy something that is at it's 6-month high at the moment (although it really doesn't move much). But I'll look more into that this week, along with all of the expected hubbub going on.

AMD reports earnings after the bell tomorrow (Tuesday). Good luck!

JEPI is trading ex-dividend as of today (May 1). In premarket it's down 1% from Friday's close, equivalent to the dividend.

I am looking for an opportunity this week to sell 100 shares of XLE (I already have too much again) and buy 200 shares of JEPI.

I got everything cleaned up this morning, taking advantage of the morning surge before XLE began to drop. That felt kind of good. I sold 100 shares at 85; it's down to 84 now.

I had a short put to buy XLE at 84 on May 12. I don't need any more XLE, so I closed that option. Too much risk of getting assigned in the money.

I'm going to sit on 200 shares of JEPI and collect dividends. As long as it puts cash in my account, if it drops in recession then I can wait for global recovery.

Thanks for advice regarding JEPI. I'm gonna sleep a lot better now.

Wow, man, yw. I hope it works out for you. I should have bought some today myself for the next dividend, but it'll wait. I don't have a good feeling about AMD tomorrow, and am still beating myself up for not selling when it hit 99. The remainder of my account is still in cash, waiting for some deals. Crazy.

Buying today was too late for the dividend paying out this week. With 20/20 hindsight, last Thursday was a fortuitous time to buy. Mid-March would have been awesome!

But we didn't know the future then. It always seems to go that way.

I'm not great with cash on my hands. I always want to swing for the bleachers, and strike out a lot. I'm better off buying a handful of free passes to first base.

Holding JEPI still gives me a full hand of option buying power, which I am able to trade profitably. This will work for me.
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Janet Yellen is warning that America's debt default clock is ticking fast. She says June 1. Maybe Biden's puppets are trying to turn up the heat... or maybe it's more serious than it looks.

The market will be complacent about this for a while longer, expecting that no one will allow default. As Biden is ruthlessly uncaring about America and the world, he will demand a "clean" raising of the debt ceiling with no restrictions on the excessive spending that Democrats passed in the previous Congress. The market expects Republicans to cave.

At some point in the next few weeks, the market will realize that this shite is serious. Very likely there will be another crash -- which Democrats plan to blame on those vicious, extremist MAGA Republicans. Hopefully not too deep and not too long-lived. But it could trigger the world-wide recession that we are teetering on already.

I need to hedge my downside risk. Maybe buy some puts as insurance. Meanwhile, I expect another surge of exhuberance on Wednesday after the FED talks -- although they might turn up the debt-fear rhetoric to help Biden as well. It's going to be a rough week.

[Del]

Joe will meet with Congressional leaders on May 9 to discuss the debt limit.

5 things to know before the stock market opens Tuesday

2. Default could be weeks away

Markets may start paying closer attention to the debt ceiling fight in Washington now that a potential U.S. sovereign debt default could come as soon as early June. Treasury Secretary Janet Yellen on Monday wrote to House Speaker Kevin McCarthy to tell him that the U.S. could run out of money to pay its bills as early as June 1. Her letter added more pressure to a process already fraught with partisan tension. McCarthy has sought large spending cuts in exchange for raising the debt limit into next year, in the thick of the 2024 campaign. President Joe Biden, likewise, has refused to negotiate on the limit, saying he would talk about spending in a separate context. The president called McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell to the White House for a pivotal meeting May 9 to try and hash it out.

[Del]

9:50 am.

AND.... The market has just noticed the debt ceiling crisis.