The Fed turned hawkish. These two charts show who wins.
Hi Traders, My favorite stock this week is Intel (INTC): It is breaking out into new highs and into my next pitchfork channel which will take it to $143.82. The previous high, which is the resistance it just broke out above at $132.76, is now our support and close below there will be my stop […]
Back In the Day…
Hi Shoppers, All this hullabaloo around the new SpaceX (SPCX) IPO and listing of the options reminds me of the old days when I chaired the Allocation Committee at the CBOE. I was on this committee for three years and chaired it for two, 2000-2003. Our job was to designate the new stock listings to […]
SPCX Options Making History
Hi Shoppers, Wow what a day in options history! SpaceX (SPCX) options officially began trading today and they made history trading 10,000 contracts a minute (as per Henry Schwartz at the CBOE). They may have also made history as the fastest cratering implied volatility of option pricing… EVER! Here at OP we talked about it […]
Remember Captain Kangaroo?
Hi Shoppers, We are dog sitting for our friends while they are on vacation. Their little dog is adorable and his name is Samba. He has a huge underbite and one snaggletooth that is always showing. Our friends are some of the funniest, wildest, best people we know. Their dog is just like them… he […]
I Told You We Were Going to Move
I did, I told you yesterday we were going to move today! After filling the morning gap higher, the market never saw the light of day: I told you during our State of the Market session this morning at 10:30 ET, “Do not believe this rally.” I posted this in our Traders Slack channel (the […]
I Told You We Were Going to Move
I did, I told you yesterday we were going to move today! After filling the morning gap higher, the market never saw the light of day: I told you during our State of the Market session this morning at 10:30 ET, “Do not believe this rally.” I posted this in our […]
A 244-Point Swing in One Day
Hi Shoppers, Wow! What a crazy a$$ day! What a trading range! The S&P 500 futures swung $244 from low to high. In one day. Up, then down, then back up again, bouncing right off our pitchfork support (a trendline tool that maps where buyers should step in) exactly where it was supposed to. Folks, […]
Small Accounts, You’re In
Dear Shopper, Day trading used to be a gated club. The price of admission was $25,000. For 25 years, if your account held less than that, you were mostly locked out. Make more than three day trades in a week and your broker could freeze you. (A "day trade" just means buying and selling the […]
The story behind Memorial Day
Hi Shoppers, Did you know Memorial Day goes back to the Civil War? It was called Decoration Day. People laid flowers, wreaths, and flags on the graves of fallen soldiers. One of the first recorded events happened in Charleston, South Carolina, in 1865. Freed African Americans and Union soldiers decorated the graves of Union prisoners […]
Why Thursday changes day trading forever
Hi Traders, There is great news in the options industry. Actual life-changing news. The doors are opening for everyone to day trade. For years, if you didn't have an account worth $25,000 or more, you were locked out. You couldn't open and close a trade on the same day. You couldn't buy an option at […]