I am getting burned out. I was coming a long time ago. If I “ignore” your questions, just know that I’m not really ignoring them.
I wrote up an educational post on Chart.ly blog here. I’m sure it’ll be useful for some of you.
I will be in Alabama this weekend. I will likely be in all or mostly cash by the close.
Make note of the neutral range in the SPX:
CA,
do we have a J-Hook on the SPY daily chart? looks like the secondary breakout would be today. This is the first time i’ve heard of this pattern, but noticed it kinda looks like it on the SPY daily chart.
need BPOP to stay over 2.00; nice CIT swing, CA
As do I….and I think we’re going to get our wish….
Getting burned out can be very healthy – maybe now a bit of a consolidation phase is coming as it were, then on to new heights. In a past life I interacted with employees that tended to get “burned in” – very sad if you follow.
Lately I can’t keep up with the frenetic pace here because of my “day job” though I love it – a couple of things catching my attention that I’ll be watching today –
Shippers; DRYS, EXM, EGLE, and even OCNF
Regional banks; NPBC, SUSQ, and of course HBAN
Trying to keep my cash position north of 70% and stay happy taking small bites out of the market for now.
ugh…burned in doesn’t sound good at all.
in an off-topic related note: saw inglourious basterds yesterday, and it was outstanding.
Enjoying my overnight calls in C and NVDA and big BPOP position….going to be a nice start to the day….
Ching Ching.
GTE 4.19
Bah
bought arun, kfn, scss this morning
ETFC is interesting
QLGC
KFN
Thanks for the educational tidbits CA!
“Give a man a fish, you feed him for a day. Teach a man how to fish, you feed him for a lifetime!”
GNW
FNM BTFO
CNXT breaking out
scss b/o
FRE….little bugger keeps pusing up….trends with AIG
ETFC looking to go again
FRE, FNM going hog wild
ETFC BO
bought ETFC $1.64
GNW, ETFC btfo
A question for the Doc or anyone else interested.
What do you think about Repros Therapeutics? (RPRX) The company’s liquidity position is terrible at this point, but their pipeline seems great.. I’ve heard $70/share (at current market cap) if indeed their fibroid drug pans out.
I know this really isn’t the place to ask, but I’ve seen it bouncing around and getting traded lately and I wondered what traders, medical professionals, and combos of both think about it.
I think they are toast – stock manipulation class action suit, FDA pulls their primary drug for safety concerns…3 million left in cash….toxic
Medical perspective – as an OB/Gyn I’d never even consider a drug for fibroids that had a less than stellar safety profile since the surgery (hysterectomy) is easy.
YRCW BTFO
29% open short interest. Well maybe not anymore…
Can someone please quickly clue me in as to the difference between the filled in candles and the hollow candles when looking at a chart???
just read here:
http://bit.ly/1rtu1
Thanks Aris, google was giving all kinds of crazy results. I appreciate the help and the community here
What I don’t get is on stockcharts.com they have black candle stick, I know about hollow and red ones but not sure what a black one represents. I don’t see the same thing on freestockcharts.com
Thanks
I think the black candle on stock charts means that it closed lower then the open, but higher then the previous close
Good spot on ETFC
ETFC looking rather messy
a little. i’m staying strong for a little though.
ETFC seems okay on the 30mn / 5 day and 10 day
YRCW may have more
FRE and FNM looked poised; lil more market strength for them to BTFO
sold 1/3rd BPOP @ $2.10. i still have a larger than normal position here.
HGSI b/o
YRCW did the J-Hook breakout that CA was describing in his post? Second entry should be coming soon? Agree?
Added SVA 6.31
NVAX strong pop on good vol … FWIW
ABR BTFO
HLCS doing the heavy lifting in my portfolio today now at 1.40, big volume on the day. Last big day it reached 1.50 but this is a long term hold for me, a 3x position.
Was going parabolic here at 1.48 – seems to be profit taking at the previous high – but I think this one can rip massively at any time.
took another position at 1.43 with a tight stop at 1.40 – pure speculation on a rip above 1.50
stopped out
rinse and repeat
Short ARUN 9.48
Doubled short at 9.33
Covered half at 9.44
OGXI
Short PCLN at 157.46
Cover 156.36
BANKERS PETROLEUM (BNK.TO) looks really strong if you’re looking for a Canadian jr oil and gas play!!
KFN anyone? Its trading like a bitch now.
PARD
Swing YSI from yesterday. Its doing well.
INCY & TRID look immenent
hey r u on twitter teahouse?
no … sorry
Short AIG at 49.89
Covered at 50.34 …My keyboard is an idiot.
Short again at 49.98
SRZ
SRZ just broke free – nice call
Im in TRID from yesterday when it took a big crap on me. Finally making money on it, but wondering if it is poised to go higher?
PARD btfo again
on that note, /CL (Crude Oil) just made a J-Hook intraday on a 5 min chart.
also – just got back to see my Euro short, although it was whipped around all night and day, is paying off +40 pips now – still see more downside.
covered Euro short 1.4293
+65 big fat nasty pip-eroonies
I had a vision… nasty violent unwind of a nonsense move from yesterday.
AXL
Bio – INO, NVAX, BCRX
Anyone hear of BTA out of Oz?
TRID lacking vol …?
yup – died on the vine
gotta ck YRCW
ck? …
u a day trader btw?
More of a swing trader but starting to do more day trading as the market looks toppy and I’m trying to stay in cash as much as possible.
Cool – thx for the info. Any thoughts on IAG by any chance btw? 🙂
Seasonally all golds are good till Xmass … I just have an infinity for FRG (gold & uranium)
EGO – IAG – RBY – ANV are favs but silver is really undervalued (MVG – no some research)
An infinity?
That’s a long time.
I like all those but don’t forget about SLW, King of the Silvers.
___________
That’s what happens when you drive an Afiniti …
Jake, you see that Fresnillo dropped their take under bid?
Already in? Pretty established lower trendline (started at 11:30 yesterday) – I would run like hell with my profits if it gave up that line. It should either consolidate from there or it could retrace.
Not in? – I wouldn’t chase it here (but that’s just me). It COULD still rip but there is too much risk vs. reward for me.
pennant on Euro 1 min chart – ready to play the break
risk to going long – 1.4300 resistance might reject the move
KFN coming back
BCRX
missed my chance at LEHMQ several times
0.10
0.11
0.12
this stock is insane
SRZ one to watch
yowsa, anyone catch the move in HLCS? My two attempts to add a fourth position earlier today missed but having a 3x position on the move softens up the pain. Tempted to take profits but I won’t – I just don’t know what the upside is but I’m pretty darn sure a fair market cap places the stock well north of $2, well north.
Yeah man, that thing was on fire today. It has been pulling back fairly consistently after run ups so I took profits on 75 percent of my holding at the close. Hope to get back in about 1.5 or lower on monday or tuesday but still holding a normal position. I am not a doctor but gene therapies are an exciting proposition and there are very good fundamental reasons to hold on to this one.
Taking profits is the right thing to do and must be smart investing – period. I’m gambling.
I bought in at 1.40 on friday, still holding, want to see where it goes on the open. Cant believe it went to 1.88 in AH
taking WRES home for the weekend … not too exciting but wth
Sold a small amount of BPOP @ $2.21 to leave me with a normal sized position for the weekend. Holding ETFC, BPOP, ZZ, WNR
Have a great weekend everyone
portfolio up almost 4% on the day thanks to the HLCS extravaganza, 65% cash (started with a higher percentage that than 😉 I could care less what HLCS does Monday or even next week, it’s back on a lot of radar screens.
Holding HLCS (3x) HGSI, HBAN (new today for the nth time), TSO (new),STAR (new for the 2nd time)
Retox –
I know you’re one of the currency guys here. By chance, did you see the discussion between Lance Lewis and Ryan Krueger of Minyanville on a potential revaluation of the yuan? Just noise, probably, and would take some cojones to be actionable. (Lewis is a diehard gold bug too, so anything that supports his long gold view…) Just thought it was interesting…
http://www.minyanville.com/articles/China-+currency-+lance-+lewis-minyanville-ryan-kreuger/index/a/24294
It also brought to mind Harry Schultz’s comments about rumors regarding embassies being ordered to stockpile foreign currencies, pending dollar devaluation and a bank holiday sometime this year.
http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future
Sorry, probably all noise. it’s the weekend, surf’s flat, too much time on my hands.
That first one will put a damper on your weekend.
We are, in so many ways, China’s bitch and there are so many ways they can fuck us. I’m just not convinced that they would be able to pull all of that off without destroying their own economy in the process.
There is no possible way to “smoke” the USD without bringing down the world’s major economies, banks, corporations and governments. We’ve all seen how our relatively minor mis-steps in lending have roiled the world.
Very similar to the cold war – mutually assured destruction is our best insurance.
I guess the most comforting part is; if that were to happen, and I were caught on the wrong side of the trade, my brokerage account would not matter anymore anyway. Bullets would be the new currency and I’ve got plenty of those.
Yes, the ‘do anyfreakinthing so that the shit doesn’t hit the fan on my watch’ will go on until our creditor countries’ politicians no longer find it in their short-term political interests to continue to accept our paper in exchange for things of value. Watch for changes in the political environment in China as well as in our many other creditor countries.
Worth noting is the very recent rise of an opposition party in Japan; a party that is gaining power in part by playing to the ‘let’s distance ourselves from the US’ sentiment among Japan’s population.
Thanks for your input, guys.
TA-i know you re busy in ‘bama. when u get a chance email me, i have a question for u.
dear CA,
you are a treasure…where is the best place during the trading day to study your trades where you post in real time?
Changing up for the week.
I’ll be back into ES (although I will still be scalping Euros throughout the day – I’ve been so tuned into that market and I don’t want to “lose my place”).
With ES, we are stuck in a range and, in my opinion, every day that we stay stuck coils the spring a bit tighter – we are setting up for a large move. I do have an opinion as to the direction but I am going to leave that out of this trade and play it either way until we break.
I’ll be using the 1025 SPX level as a guide – I view this as a fairly important support/resistance level.
SPX above 1025.50 I will enter long 10 contracts (using 1 hour & 1 minute charts to support the decision).
sell 2 at 1027.25 +1.75
sell 2 at 1031.00 +5.5
sell 2 at 1035.50 +10 if we reverse hard from 1035, dump the rest
sell 2 at 1039 +13
sell the remaining 2 at 1049 +23
SPX below 1024.50 I will enter short 10 contracts (using 1 hour & 1 minute charts to support the decision).
cover 2 at 1023 +1.5
cover 2 at 1021.50 +3
cover 2 at 1017 +7.5 – if we reverse hard off of 1017, cover the rest
cover 2 at 1013 +11.5
cover the remaining 2 at 1002 +22.5
I do hope for a little more range-bound movement this week so I can get some income from these trades before we get the larger move. I my very well end up taking a few small losing trades if we chop around 1025 but the subsequent larger move(s) should repay me in spades.
First entry will probably come tonight at some point.