UPDATE August 7
PUMPED!!!! I have a new stylus and iam coming off what was actually my 3rd best day ever, and a tremendously well executed week👏
Allow me to get a little bragadocious- After all what good is having GIANT conviction if i cant share it...
Allow me to get a little bragadocious- After all what good is having GIANT conviction if i cant share it...
I sold a round of options closer to a 70% gain, to cover my positions
these I sold at .74 almost a 90% gain
double me up... I actually closed these at 7.90, then opened new positions an hour or so later.
CCXI - Just YES!!!, so much yes!... My baby - letting go is hard to do, I wanted to ride with them to the hundreds, I will miss that. ![]()
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more on CCXI later ![]()
I know some money managers that envy this. This is a limited investment account (I can only trade certain stocks and ETFs during regular trading hours no options)
That morning I recieved several congratulations texts on my drive to work, I was confused, it was followed by more "are you even coming in" I was really confused, then I saw MR Ts Hank Hill making it rain post and i knew something good happened. That was followed by CLF that broke out, just as I posted (I even posted an update before open trying to alert all, shown below)
Then I bragged
After that I was near useless at work, I had a stupid perm - a - grin and was strutting around like a peacock 🦚 (You gotta let me fly!) whistling Harry Belefonte (Jump in the Line)... Well I did extend a couple contracts at huge increases so maybe not useless 🤷♂️ ... Anyhow enough bragging and let's see some charts.
My position, I sold a portion at 1.20 to pay for my entry
Let's see how we look going forward
Here is one of my positions I just opened, I sold a batch at 2.15 to pay for my entry
Yes I know these are short dated options, but I've got conviction (plus they've paid for themselves already).
Qualcomm looks at a near top, just need the last pop
Here is my position so far, a little longer out because I'm setting it up.
Let's see how it looks
and since SLV (and the Qs) is affected by the dollar lets look at it $USD(USDindex.FX$ I expect a bounce (and a market dip) then a drop (market surge) - AND THEN RESUME UP
And now a serious note, because iam about to say and do some sacrilege and sacrifice my baby. $ChemoCentryx(CCXI.US$ ![]()
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BEAR with me while I explain, but first: charts to show what, I will tell why followed reluctantly by sharing how.
There is no reason for it, charts don't follow news, news follows charts- want another sign of proof?
Look at where that buyout candle ended on the Weekly and Daily charts above - I drew that trendline many months ago and we ended a 52 buyout almost on the penny touching that trendline....
AND WE WILL HIT IT AGAIN - I think just after we fall.
What I believe will happen
It has not been bought out yet, nothing is complete (look at twitter) this will fall because people (like iam) will take massive profits and sell, does it deserve to fall - NO but that doesn't matter, it fell after approval and it will fall again.
Now what am I doing about it. Well since the buyout is 52 and I sold a good chunk around 50.5 that's 1.5 "loss" per stock, but it's not at 52 BECAUSE THE DEAL IS NOT FINAL, THE STOCK IS IN PLAY!
The rest I sold 40 strike calls, but heres where i go crazy and short my shares by buying 55 puts. My numbers are off by a dollar it should be $50.5 not 51.5 apologies
If I sell now I get about 50.5 per share, if I sell calls and buy puts I get 50.5 per share BUT if my analysis is correct I make a bundle on the way down.... OR and this is big but I'm betting (obviously) it doesnt happen: shorts rush to cover and this goes to 70, but like I said I dont think so.
That was a lot and I'm sure very confusing, I often think faster than I type and it ends up being jumbled. Feel free to ask questions and I will try to respond when able.
That aside a look at oil futures
Ok too tired and restless, I'm sure I left a bunch out, I may post an update later maybe not we will see.
As always good luck ![]()
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Engineer, Commodity Buyer, Alert Bettor,
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Mike Hunt : Nice work!!!! I’m long on SLB. I think it’s a no brainer that CCXI will pull back. But I’m not as bullish on QQQ as you are. I think it might get rejected for the 3rd time on the upside boundary of the downward channel it’s been in since April. Good luck!
Albert Ck : I would be excited to the last chance of catching up if CCXI boat having U turned as you predicted so….
$18-20
BruceLin8 : Baba will go up?
Mr Trecherous : Damn. Now it's all suspenseful & shit
No sleep tonight
102235596 : Heya are you saying that ccxi will drop, regardless of an expected good ER today?
Mr Trecherous :
iamiamOP BruceLin8: yes, I'm bullish on baba
iamiamOP 102235596: I think so
Colmi iamiamOP: Did u sold the ccxi or Hold?
Jason Jason8 : Do you follow amc?
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