Happy Fathers Day to all the fathers on the board. I hope you all enjoy the day. I will be spending the day with my son and his girl on lovely Lake Hopatcong as by next year this time it will be Happy Grandfather's day!!! Due on my my birthday Aug 7. I am thinking that she should be called Duana, however my son has other thoughts. :(

Broken. 7700 is next, waiting for an upside reversal there.

Originally posted by MarcinO

Nasdaq support at 7735.

And when I say "someting is up," I mean the grandchildren are probably "up to something."

Al :--)

Originally posted by albert

When the grandchildren are quiet, something is up.

Al :--)

Originally posted by Duane

WOW AL, that sounds like Fathers Day and Christmas all in one. Can't get better than that. I'm going to have to hit you up for some grandparenting tips, sounds like you are quite adept!!

Originally posted by albert

It all sounds cool, guys. I enjoyed Father's Day/combined Birthday celebration with my wife and my 2 sons (39 and 37 years old), their wives, and four very energetic grand children. I really enjoyed spending the time with them. Some of us watched YouTube videos cast onto our TV screen. Some of us spent the day running around the house and chasing each other, and making drawings.

Al :--)

Duane, did you live in nyc then? Yes I remember the old Quad cinema. The walls were so thin that you would go see a serious drama and hear people laughing hysterically through the wall in the next theatre. The Quad was restored a couple of years ago and reopened, and is pretty nice. IFC is good now, Film Forum, The Quad, Metrograph down on Ludlow Street, The Museum of the Moving Image, MOMA, and The Walter Reade at Lincoln Center.

Originally posted by Duane

Your Son sounds like my kinda guy! He definitely got it from you! You remember rat, the Quad Cinema back in the day, now it IFC, or Film Forum.. I love movies.

So happy that everyone that could spend time with family. That's what all about.

I just want you all to know, when he was alive, my Dad was the BEST DAD EVER !

LOL, Good Times !!!

Originally posted by rat89

I actually worked on movies for almost 24 years, in editorial, and as a sound editor. I left the business when my son was about 2 because the hours were brutal, and I was fairly high up, and could see that there was no place up there where I could avoid working 70-80 hours a week. It was a hard thing to do, but I took a break, and then never went back. My son, oddly, became a cinephile. He sees well over 1000 feature films every year, and know many people in film, and the programmers at all the repertory houses in nyc. Funny how that worked out.

Originally posted by Duane

Originally posted by rat89

I had a father's day outing to see Rolling Thunder Reveu on the big screen with my wife and son who will be 20 this month. Then dinner out. If anyone gets a chance to see it on a big screen, definitely do it.

That sounds awesome rat. Gonna check it out on Netflix. Big screen must have been awesome. My son, who is thirty, has not seen a real movie ( AKA one without a superhero ) in years. Obviously your son has a great dad who is cinematically and culturally aware. Me not so much. We hit the links in the morning, then had beers and burgers for lunch and then we saw Godzilla, which we both slept thru. HOWEVER, anytime I can spend time with him anymore is a blessing.

gld

Paper trading. Made a bit more on AGN weekly calls. I guess there is a possibility that AGN may be broken up into smaller units, and that may attract buyers and sellers.

Duane - I just prefer options on stocks. :--)

Good Trading,

Al :--)

The drop in Nasdaq looks serious. Maybe it will test low 7600's. Minor support at 7655.

fas - failure to break through the 76.50 area could be an early warning that spx is completing its cycle move

I am not the only one looking suspiciously at recent rally of indices.
https://www.zerohedge.com/news/2019-06-20/bmo-everything-will-change-after-tomorrows-quad-witching

Originally posted by MarcinO

Nasdaq poised to hit 7820-40. I am playing along, but to be honest I don't get this market. With the Fed decision yesterday and prospect for rate cuts, there was nothing that hadn't been already priced in, yet the indices started march up, but waited with the best part till Asian and early European session. To summarize - something stinks. I wouldn't be surprised if the whole post decision advance turned out to be fake, so on any sign of weakness at the area I will be more then happy to reverse my position.

soon, but not quite.....technically P5 is complete here at a new high, but there are some interesting targets: P5=P1 at 3050, and at .886*P1 at 2970. The external retracements are:
2941 - 2346 = 1.128 at 3017
2941 - 2346 = 1.27 at 3101
2954 - 2729 = 1.27 at 3015

Price is at the trend line and set up for a potential break out; many will see it as a cup and handle...my feel is that it will break out, that 3000+ is manifestdestiny, and that it will one day, without warning, reverse hard, and head down into its next cycle move.

Just looking at my daily paper trading results. Two of my active winning long term option trades, GIS and ZYNE, have similar five features: 1.) A top, 2.) A Bottom, 3.) A Gold Cross, 4.) A fibo retrace to a significant fibo, such as 0.886 or 0.618, and 5.) a subsequent fibo retrace to the 0.300 - 0.382 area with STO OS, followed by a roughly 10% gain.

Al :--)

Duane,

Thank you. Your charts are awesome, so clean and sharp!

Al :--)

Originally posted by Duane

Well done Al. I salute your diligence. Your charts are great!!!!!

Originally posted by albert

One more time, please. The conclusions I came to are based on only a few charts. I looked through a file of past charts with Gold Crosses, and found that the situation is more complex that I thought. No surprise. Sometimes price makes a Gold Cross, than heads down. I will try to come up with a better discussion of the setup. More later.
Al :--|

Originally posted by albert

Oops again. Paper trading. I did not have any options on ZYNE, just some stock. I do have some call options on GIS in my paper trading account.

My apologies again

Al :--))

Originally posted by albert

Oops. Zyne was more like a 40 percent rise.

My apologies.

Al :--)

Originally posted by albert

Just looking at my daily paper trading results. Two of my active winning long term option trades, GIS and ZYNE, have similar five features: 1.) A top, 2.) A Bottom, 3.) A Gold Cross, 4.) A fibo retrace to a significant fibo, such as 0.886 or 0.618, and 5.) a subsequent fibo retrace to the 0.300 - 0.382 area with STO OS, followed by a roughly 10% gain.

Al :--)

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