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#20,180
#20,180
It feels like one of those days that will begin with an opening relief rally and then the worm turns with sell the news, weak hands selling because they’re happy to get even, and short term profits being harvested.

It would be very bullish to see the gains grow throughout the day, but I expect to give back 3/4 or more of the early pop if not turning negative by the closing bell.
 
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#20,181
#20,181
Thunder Good-Oil said:
It feels like one of those days that will begin with an opening relief rally and then the worm turns with sell the news, weak hands selling because they’re happy to get even, and short term profits being harvested.

It would be very bullish to see the gains grow throughout the day, but I expect to give back 3/4 or more of the early pop if not turning negative by the closing bell.
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I concur. However, lots of bluster right now.

I'm still sitting on my stack of cash from selling on Thursday before 3-day weekend. Badly misplayed that hand.
 
#20,184
#20,184
It’s going to be a good morning to sell covered calls.

I’m going to shop contract prices on XOM, OXY, FCX, INTC, and others. I like the 1-2 week expirations.

I’ve already sold CCs on CRWV. Unfortunately CRWV went up while everything else was tanking. I still have a cushion though. I should have bought back the contracts yesterday.

Edit: scratch selling XOM and OXY calls today. Oil industry is a big loser today.
 
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#20,186
#20,186
Pretty surprised that the market isn't giving back more of the gains and oil isn't rallying more on this news of disagreement between US/Israel and Iran on whether or not Lebanon is included in the ceasefire.
 
#20,188
#20,188
Likewise. I have a bunch of it in reg account and SEP-IRA. I keep thinking it will pull back for a buying opportunity. Not so far, and it continues to go up so...........?


Oops, reply was about PL, Planet Labs stock.
 
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#20,190
#20,190
Vol737 said:
Well, gains held up. Pretty good day.
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I'd be stunned if we didn't get some kind of pullback. We rallied right into the declining 50 DMA today; actually closed above it, but we're at an area where you might expect some selling regardless of what the headlines are.

The ceasefire seems fragile AF, and has already been violated, yet equities and even oil traded all day like they expect flow through to Strait to return to normal pretty quickly.
 
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#20,192
#20,192
05_never_again said:
I'd be stunned if we didn't get some kind of pullback. We rallied right into the declining 50 DMA today; actually closed above it, but we're at an area where you might expect some selling regardless of what the headlines are.

The ceasefire seems fragile AF, and has already been violated, yet equities and even oil traded all day like they expect flow through to Strait to return to normal pretty quickly.
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To see a pull back tomorrow would not surprise me at all. Right now, everything is so short term you just don’t ever know. It’s all about short term themes at the moment.
 
#20,194
#20,194
BigOrangeMojo said:
All of the gas stations enjoy the profit margin boost. Its pretty much informal collusion...
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I talked to a gas buyer for Weigels several years ago. I asked him why when the price of oil goes up, why does the price of gas go up within 24 hours? He explained that the cost to replace the gas sold today would be higher so they had to account for the replacement cost. So I asked him then why didn't the price go down within 24 hrs of the price of oil going down? He said if they did that they would have to sell that gas at a loss and they couldn't do that. I just rolled my eyes and laughed.
 
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#20,195
#20,195
BigOrangeMojo said:
All of the gas stations enjoy the profit margin boost. Its pretty much informal collusion...
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The gas stations aren't the ones enjoying the margin boost, at least not past the first few days after the spike. It's the oil producers.
InVOLuntary said:
I talked to a gas buyer for Weigels several years ago. I asked him why when the price of oil goes up, why does the price of gas go up within 24 hours? He explained that the cost to replace the gas sold today would be higher so they had to account for the replacement cost. So I asked him then why didn't the price go down within 24 hrs of the price of oil going down? He said if they did that they would have to sell that gas at a loss and they couldn't do that. I just rolled my eyes and laughed.
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I mean...he wasn't wrong.
 
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#20,197
#20,197
05_never_again said:
Could fall apart at any second, but stunning how well the markets are holding up.
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Wait and see mode, I guess? Maybe it's whipsaw trade fatigue. The portion of my portfolio that is stocks/equities/ETFs, had I sold them, I wouldn't be any better off. Back pretty close to where they were before all of this started and still collecting the yields along the way.
 
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