The Market closed up Today

[william the wie]

It appears that the big short purportedly from China was covered today. China's dilemmas appear to be making each other worse.

 

[ABikerSailor]

The market lost 800 yesterday, but only gained 99 points today.

That is still a net loss of 701 points.

 

[The Banker]

US Markets still strong, and US economic data is still good.

 

[william the wie]

Covered puts and calls are yielding way up.

 

[The Banker]

Covered puts and calls are yielding way up.

I sold puts on SHOP on friday. SEP 13, 340 335 strike. SHOP is a beast, one of the strongest stocks this year.

 

[Picaro]

Covered puts and calls are yielding way up.

I sold puts on SHOP on friday. SEP 13, 340 335 strike. SHOP is a beast, one of the strongest stocks this year.

It hit above 380 yesterday, didn't it? And in the face of news and rumors of declining consumption.

 

[Picaro]

The market lost 800 yesterday, but only gained 99 points today.

That is still a net loss of 701 points.

Maybe a 2%-3% movement; not much on a base line of 25,000-ish +. + or - 2,500 in today's markets isn't a cause for massive panic given how large some of the giants are in numbers of shares, just some concern, depending on which stocks are leading the drop or fall. Little of it reflects much of the real economy anyway with P/E ratios at absurd levels for many of them, just pump and dump schemes among institutional buyers and sellers.

 

[The Banker]

Covered puts and calls are yielding way up.

I sold puts on SHOP on friday. SEP 13, 340 335 strike. SHOP is a beast, one of the strongest stocks this year.

It hit above 380 yesterday, didn't it? And in the face of news and rumors of declining consumption.

Yea it should hold up nicely. 340 is the where it was at before it's blow out earnings so it seems doubtful that it would drop to that level, but anythings possible. It I have problems I can just add a week and roll it down to probably 330 or lower. Forget bonds, forget gold, in times of economic distress put all your money in SHOP!

 

[ABikerSailor]

Well, today the tariffs go into effect with China. Wonder what the markets are going to do tomorrow?

 

[Picaro]

Covered puts and calls are yielding way up.

I sold puts on SHOP on friday. SEP 13, 340 335 strike. SHOP is a beast, one of the strongest stocks this year.

It hit above 380 yesterday, didn't it? And in the face of news and rumors of declining consumption.

Yea it should hold up nicely. 340 is the where it was at before it's blow out earnings so it seems doubtful that it would drop to that level, but anythings possible. It I have problems I can just add a week and roll it down to probably 330 or lower. Forget bonds, forget gold, in times of economic distress put all your money in SHOP!

Do you happen to know who the biggest buyers were?

 

[Bruce_T_Laney]

Well, today the tariffs go into effect with China. Wonder what the markets are going to do tomorrow?

On Tuesday let see what our Market does...

 

[xband]

Pump and Dump.

 

[william the wie]

What I find confusing, I have not run the numbers, is it looks like in most cases getting the underlying and writing straddles would be highly profitable

 

[william the wie]

Pump and Dump.

Don't ever say that unless you want the SEC to check out your market moves.

 

[xband]

Pump and Dump.

Don't ever say that unless you want the SEC to check out your market moves.

I learned that term in Penny Stocks where I lost a little money over pump and dump and got out and never went back. The SEC is welcome to investigate and the IRS is welcome to audit me.

 

[william the wie]

the legal fees are repaid slow and sometimes only after bringing charges and the Clerk's office is always a problem area.

 

[The Banker]

Covered puts and calls are yielding way up.

I sold puts on SHOP on friday. SEP 13, 340 335 strike. SHOP is a beast, one of the strongest stocks this year.

It hit above 380 yesterday, didn't it? And in the face of news and rumors of declining consumption.

Yea it should hold up nicely. 340 is the where it was at before it's blow out earnings so it seems doubtful that it would drop to that level, but anythings possible. It I have problems I can just add a week and roll it down to probably 330 or lower. Forget bonds, forget gold, in times of economic distress put all your money in SHOP!

Do you happen to know who the biggest buyers were?

No I don't?

 

[Picaro]

Pump and Dump.

Don't ever say that unless you want the SEC to check out your market moves.

I learned that term in Penny Stocks where I lost a little money over pump and dump and got out and never went back. The SEC is welcome to investigate and the IRS is welcome to audit me.

I get audited quite often, as most who file W-2G's every year do. No need to fear either of them if you're paying your taxes and keeping decent records. Once in awhile they find the IRS will find they owe you money.