Investing General Discussion

Lines now drawn. We have support at 4300-4320 and resistance at 4450 see if today if it can break out of that range. My feel is that another check of 4300 will probably fail given we have checked it 4 times now. On the bull side if we can close near 4450 resistance today opens up a chance for a bullish Friday to try to run it up 100 pts rather quickly.

Seems to be too big of an ask to get on top of 200d today, far more likely to try to hold this level in the afternoon and another strong push tomorrow. Even if you are bearish it's folly to not realize how strong a counter trend rally can be from a high volume sell off like that. I'm sticking with a rally to 4600. I think it's at that level it could lose some energy and it's possible selling reemerges. No reason to try to predict that at this point but the chart in front of us is one beginning to tilt back to bullish. Setting higher lows since the low on Monday

Sanrith Descartes said:

Paperhanded the SPY straddle. Watching my losses in MTTR pile up I decided to commit at the open to the calls so I sold the puts and then grabbed the SPY call profits at $441. 30% profits on the total trade. I am concerned that no matter how good a company MTTR is, that the current environment is gonna punish it for the unforeseen future.

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Do you have (A) put or Put(s) on MTTR?

Sanrith Descartes said:

I had the Jan 20 puts originally and rolled them out to Mar for breakeven. Qty 2

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I think you can mitigate it over the next 6-8 months using options if you don't want it as a hold. Not saying getting even but probably could work $5/share in premium out of it.

Jysin said:

Ouch MTTR at $8.5

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Going to need a time machine to change my $18 cost basis with a $8.50 cost basis please.

Remember when it was $37.60 and we didn't sell. Pepperidge Farms remembers