same here, just trying to find a gap to enter long, now im looking forward to the consolidation of MACD,
BW11
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@juanmasl, I'm already holding the bag.. so I'm just going to hold it.
If you're still on the sideline.. wait for confirmation.
twallem
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Double dip, lower longterm trend line, touched the 200sma. What could possibly go wrong😅
BW11
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@twallem, I have a feeling it's going to get worse before getting better.
jlonghitano
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Couldn't agree with you more; very disappointing over the last few months. AMZN has essentially been flat for seven months. I attribute the lack of upward movement to Bezos and his wife selling billions in shares. They obv can't sell all at once and the amount they're selling is probably why this thing has been flat for these past seven months. Just my hypothesis. I started dabbling in calls a few weeks ago and theta and IV have killed my contracts. Murphys's Law says that once I close out the position, or hedge it with a short call contract, this beast will go up $300. Haha
BW11
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@jlonghitano, haha nice. same boat. As soon as our directional bias changes, it goes against us.
jlonghitano
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@BW11, You're not going to believe this, but I had a long call SHOP contract and it was annoying me because the stock wouldn't go up. The next day I sold short a contract to create a spread to earn some theta and SHOP went parabolic (this was about two weeks ago when it went from 1100 to 1400 in three days or so). I actually lost 6k versus the probably 30k I would've made if I just held the long side. FML.
BW11
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@jlonghitano, Can you please do that again for Amazon? =P
BW11
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@jlonghitano, I put on some call spreads.. not on amazon though.