02/02/2021 Live Update

[Al_Dente]

Smalls have a healthy respect for the NYAD (20ma)

[Al_Dente]

SPX has a healthy respect for the call buyers (20ma)

[Cobra]

Amazon unveils Helix building as heart of HQ2 campus in Arlington
Architects said their inspiration for the double helix comes from nature’s fondness for the form in everything from DNA to the Milky Way

2021-02-02_07-36-37.png

Amazing, but not looking pretty, maybe I'm old fashioned.

It looks beautiful to me. It seems like Bezos knows a thing or two. Ha ha.

Like a lot of people, thinking of FedEx or Amazon, prior to their inception, the ideas seem nonsensical. Too big. Too much distance to cover. Capital needs too big. No wonder Fred Smith's idea got a failing grade at college. So, like nearly everyone else, I did not have their vision for their ideas.

change color to yellow, it's a drop of something.

[Al_Dente]

Dave Portnoy tweeted around 10:00 ET, "I have officially sold all my meme stocks. I lost 700k ish. Vlad and company stole it from me and should be in jail." 
Before the cash session opened, Portnoy said he has three r/WallStreetBets stocks. The first is NAKD, where is down 30% from where he bought it (-$63k today). The second is NOK, where he's down -29% (-$12k from where he bought it), and AMC, where he's down $100k from where he bought it. Today alone, Portnoy said he’ s down $-172k in these three stocks. Portnoy added that he never owned GME.

[JFR]

SPY 5. Still got steam in the boilers? We will see.

[BullBear52x]

Gap fill area, the reaction here will be a tell of what to come, bears last chance to make it big. day traders hot spot.

[Al_Dente]

Background:
The colorful Portnoy was the owner of Barstool Sports (I think he sold it).
He month(s) ago screamed into the camera “Stocks don’t go down” just before his long went down.
He infamously pulled letters out of a scrabble bag, and longed whatever symbol resulted (reminiscent of the decades old Chimpanzie Dart Board game).

[BullBear52x]

Dave Portnoy tweeted around 10:00 ET, "I have officially sold all my meme stocks. I lost 700k ish. Vlad and company stole it from me and should be in jail." 
Before the cash session opened, Portnoy said he has three r/WallStreetBets stocks. The first is NAKD, where is down 30% from where he bought it (-$63k today). The second is NOK, where he's down -29% (-$12k from where he bought it), and AMC, where he's down $100k from where he bought it. Today alone, Portnoy said he’ s down $-172k in these three stocks. Portnoy added that he never owned GME.

He fold? He was saying He is willing to risk all 2 million for the cause, the traders were like, why not more? very good advertisement but expensive one to make name. (He is good guy I like him, but people with money do crazy thing from time to times) so he got 125 million left to fight 5 to 8 billion each hedge fund guys? these hedge fund guys are shark, they are good, you can not compete day trading with them let alone with their size of money and dark pools to be where they are. their nature is go big or go home and they love their games.

[Al_Dente]

YESTERDAY Nomura's McElligott noted that there is now absolutely no "crash up" being priced whatsoever on a US Equities Index level….
The vol market is saying we are at risk of outright "crash down."
Implied volatility (ie VIX) is the key lever at this moment.
Should we see the VIX break 30 to the downside [it is now 26 ish] then the SPX may make a quick move to 3800 resistance. The zero gamma critical support level down shifts to 3740, should that level break then 3700 becomes the target.

[Cobra]

Members only update at 12:11 pm
http://www.cobrasmarketview.com/2021/02 ... ay-update/

[Cobra]

Lots of small doji, feels like a pullback here first is likely

[BullBear52x]

reminder V-POC =3838, ES, couple more points to go.

[BullBear52x]

3 sells this morning, so far so good for day trade. ready to sell more if it hits 3838 area.

[BullBear52x]

Buy dip intraday, bears want to see this one fail, I do.

[JFR]

SPY 5. Gettin' the squeeze. Waiting for a breakout.

[Cobra]

As usual the very first test of EMA20 in 2+ hours likely would be bought, watch EMA buy setup which sometimes is only good for a scalp though.

[Al_Dente]

SUMMARY OF WHAT VARIOUS BIG BANKS THINK OF THE RECENT CHAOS, and what comes next [as usual it’s either up or down...]:
All eyes are on the VIX which a couple think the Reddit gang will target next….
“Even if [KEYWORD “IF”] 1.8 million original members [of Reddit] add one additional call option on VXX or UVXY, the new flow will double the existing open interest of VXX (1.92m) and almost triple that of UXVY (1.04m). This is happening against a backdrop of already elevated AUMs and call option open interest in VXX and UVXY.”
https://www.zerohedge.com/markets/will- ... to+zero%29

[K447]

Background:
The colorful Portnoy of ... Barstool Sports ...

You may find this of interest.

https://www.etftrends.com/welcome-to-th ... -going-on/

A different perspective on why and what is/was happening.

[brucekeller]

Looking at the meme stocks that were 'pumped by WSB'(PLTR, BB, GME, AMC, NOK, SLV etc.), you'd think we were in the middle of a 7%+ down day on an index.

[Al_Dente]

Background:.. ...

You may find this of interest.
https://www.etftrends.com/welcome-to-th ... -going-on/
A different perspective on why and what is/was happening.

Thanks.