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DOW 23,000+ today?

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Grant 302

basic and well known psychic
So continuing to hammer on 35k means to me it’s gonna make a break for it sooner than later.
Closed over 35k on Friday. So less than 2 week from this post on 7/12.
Going forward, I’m expecting a sharp breakout that will surprise to some extent…the market pundits at least.
That last flushout / dip was impressively deep and brief, fwiw.
3D663E22-3EA7-4B86-BF74-370FB78346FD.jpeg
 

TymeSlayer

Tramps like us, Baby we were born to run...
3,786
2,738
Exp. Type
HPDE
Exp. Level
3-5 Years
Brighton, Colorado
Chicken Little here, reporting breaking news:

Inflation, hyper-inflation, ongoing material shortages and freight issues up the kazoo. It's all around us yet the government and the fourth estate downplay this as a short term problem.

When you play with a bullet and a hammer, something bad will happen. It's coming sooner than later.

Now back to our regularly scheduled programing. :p
 

Grant 302

basic and well known psychic
government and the fourth estate downplay this as a short term problem.

I don’t disagree here…but most people draw the wrong conclusions about what those conditions mean for the future of the markets and economy in general.

Being risk adverse has paid off in only relatively brief instances. At least in recent times.
 

Grant 302

basic and well known psychic
Why is it the Dow always adjusts itself and never to you????????????....all tho it may sometimes by accident.................
It’s not unlike all those that don’t understand stuff like basic physics and science and such. Coincidences don’t make people ‘right’.
 

TymeSlayer

Tramps like us, Baby we were born to run...
3,786
2,738
Exp. Type
HPDE
Exp. Level
3-5 Years
Brighton, Colorado
Current economic policy, despite stated intentions, usually make the rich richer and the poor poorer. They also close the gap between middle class and lower class and create an even bigger bottom tier. Don't construe this as any kind of political statement but I see this pretty much as that old saying about giving a fish and teaching one how to fish. When all this government sponsored free cash goes away, so will the ability to pump money into the economy and the stock market will react accordingly. And then at some point, inflation may recede along with these shortages of materials. I absolutely hate shorting stocks but given the current conditions, now may be a good tyme to root out some of these overpriced, economy sensitive companies and play the game.
 
1,482
408
LRCX reports earnings tomorrow after the close. I'm not privy to the overall numbers, but our division is a huge one and revenue is up a lot over the past year, and two years. That said, the stock will probably go down.
 

Grant 302

basic and well known psychic
Revenue up 45% with earnings up 70% year over year. Aaaand the stock is down after hours. All systems normal.
Lol.
Didn’t play anything before market close. Even the options expiring Friday looked expensive for say a $10 move either way. Might play tomorrow if I wake up in time. Or if the premarket looks interesting.
 

Grant 302

basic and well known psychic
Started buying up calls that dropped from ITM to just OTM on the weekly. About half an hour after opening bell. Best positions could be unloaded right now in the 2x to 3x range. Might sell some to make the day activity ‘cost less’ and see what happens through tomorrow. In for way less than I made last quarter with the strangle straddles but I might start buying longer dated positions if I make enough to justify it by tomorrow. Good times.
 

Grant 302

basic and well known psychic
Strategy is the framework for success in whatever you seek to accomplish in life...........................
Fail to plan, plan to fail. Fail to learn, learn to fail. Always good to plan…and edumacate oneself.

Added more LRCX calls, longer dated. Won’t add put protection unless the price action makes me concerned.
 

Grant 302

basic and well known psychic
Dumped all the LRCX calls expiring today. Easy way to play the $30 dip and bounce. Letting most of the forward expirations ride. Might buy some puts by the end of day depending on the price action.

Small rotation in the broader market. Looks good to me and expecting the breakout for the Dow and S&P to simply continue and keep producing new all time highs.
 

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