Ming

Swing Trader/ Occasional Day Trader

Here to share my personal ideas and insights. Tweets are for informational purposes only, not financial advice.

[Ming @MonetaryMing]

@alma18499 @jjlim_2022 did you select strike based on price per contract or delta or other greeks?

[Ming @MonetaryMing]

@assflowcapital Checked spy net premium for the past 30 days, net call at lowest from past 30 days today at -67m

[Ming @MonetaryMing]

@market_sleuth Wouldn’t the expected move be worth it? Or are you playing safe in case there’s no move tm?

[Ming @MonetaryMing]

@Banana3Stocks Damn these printing

[Ming @MonetaryMing]

@assfacecapital last time market topped when we hit -300M

[Ming @MonetaryMing]

@assfacecapital Can you explain what this means? Why does this indicate buy the dip if net call is negative?

[Ming @MonetaryMing]

@assfacecapital you made it in 2 months you can make it back in 2 months

[Ming @MonetaryMing]

@assfacecapital This run up is mad tilting lol had to take a break and gonna wait out till next move

[Ming @MonetaryMing]

@assfacecapital Was thinking the math ain’t mathing lol

[Ming @MonetaryMing]

@ATMSnipes how far you think wave C of A can go? I am thinking a .618 - .786 retrace so 537 - 542 on SPY? Maybe another 5 waves up on the hourly? And at what point would you consider C complete? would like to hear your thoughts. thanks!

[Ming @MonetaryMing]

Day trading environment, swinging couple days out at most, very trappy environment so take profit when you can. No sign of reversal yet

$SPY $QQQ

[Ming @MonetaryMing]

@assfacecapital downward pressure is still too strong for any big reversal, think we can at least retest yesterday's lows

[Ming @MonetaryMing]

@assfacecapital for day trades, i see you use both tide and spy net, which one do you use for entry confirmation? Or do you just use tide and spy net for direction/sentiment and use levels on chart for entry?

[Ming @MonetaryMing]

Hey so far weekly closed at a support level, we could see a bounce this week, but we are in a longer term correction now, it can be a correction like we had from aug 2020 - December 2021 where price just chops in a range for months. Until that structure breaks then a new trend will begin.

[Ming @MonetaryMing]

$AMZN Daily Chart Analysis

#Amazon price reversal here with price breaking out of an Inverse Head and Shoulder pattern on top of down trend channel line. Also price action is associated with an increase in bullish volume. First target is 192.3, where price fills the gap and also aligns with the .382 fib retrace level. With earnings coming up, price could blow pass that post earnings and retesting ATH at 200.

BTW $META had the same setup as AMZN, which resulted in a 7% move up post earnings. Maybe we can see the same here

[Ming @MonetaryMing]

when you say divergence, do you mean the call and put are diverging like they're going opposite direction?

Also I saw a previous post where you mention divergence between spy and tide net? I see spy call up today while tide put is up, does that mean they're dumping underlying and buying spy calls? Thanks

[Ming @MonetaryMing]

@unusual_whales I mean i can see 529 premiums going negative, and big positive for 535 and 540

[Ming @MonetaryMing]

@unusual_whales how do you determine selling 529 and long 540s from the strike premium chart?

[Ming @MonetaryMing]

$SPY Daily chart update

As mentioned in previous post, as long as price is pinned between 538-549, it will be choppy meaning there will be a lot of traps. As seen with price on Tuesday, price attempted to breakdown but failed resulting a monster reversal gap up today. With price closing above 549 today, a 5 wave down is invalidated and scenario 1 is playing out. Price looking to go at least to 559, but very likely to hit ATH at 565.

[Ming @MonetaryMing]

$SPY Daily chart analysis - Choppy environment

Currently SPY we have 3 waves down, retracing to the .618 fib level where we almost filled the gap at 537. I am currently looking at 2 possible scenario.

1. 5 wave move down, meaning there is another leg down and possible reaching 530. This scenario is possible as long as price doesn't close above 549.

2. In the case where price close above 549, it would terminate wave 4 and it would instead be a 3 wave ABC pullback. In this scenario I would be looking for a retest under 549 for another leg higher towards 555-559.

Current condition is undecided as long as price is pinned between 538-549, which is why price has been very choppy the past few session. In this environment, we can either day trade or sit out and wait for market to provide us with a confirmed move.