Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Late Night Strategy for Tuesday

V0A6N3s

After a few days of bouncing, I have my eye on the mega cap semiconductor Intel as a short setup into Tuesday.

On the daily chart, below, note the bear flag pattern forming after the recent correction off the highs. I like this as a short on weakness.

I am also considering SOXS as a bearish ETF for the semis as a whole on weakness.

Drop me your top tickers overnight.

_____________________________________________________________

INTC

Stock #Market Recap 10/20/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

In addition, please see the top of this video for details about attending our iBC Investors Conference this November.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Anyone for a Deep Fried Apple Burrito?

l

We have AAPL and CMG earnings after the bell tonight.

Who is playing them, and how?

Looks like the burrito is pricing in a big move.

I am flat and waiting for some more information from the tape before putting on fresh trades. Perhaps tonight’s earnings reactions will shed some light.

More about this in my video market recap after the bell.

See you there.

Close, But No Cuban Cigar

Mr. Cuban went long Netflix under the theory of a buyout. If that happens then, sure, it is hard to argue with that bullish thesis behind the investment.

But the chart is showing signs of ending a mature bull run. And betting exclusively on a buyout in lieu of a healthy chart is often a low probability bet.

As I noted last week, this is a broken steep uptrend now, with the stock experiencing a shocking disequilibrium after earnings and increased competition.

I suspect if Netflix were going to get bought out, it already would have, like OpenTable.

Longs who are betting solely on the buyout and ignoring the damaged chart be close, but get no Cuban cigar.

__________________________________________________________________

NFLX

Staring Into the Big Blue Abyss

XDMTT8c

I have been cautious on IBM for quite some time, as I believe the long-time market bellwether had been throwing cold water on the bull with its underperformance throughout mid-late 2013, and most of this year too.

Today’s sell-off exacerbates the long-term technical picture, as the stock appears to be confirming a major top on the mostly timeframe, below.

I expect a move down to $130 in the coming month, based on the sheer size of the topping pattern. As you might imagine, that does auger well for the Dow and likely other major averages. A move back above $200 negates the bearish thesis.

Long-time readers will recall how wildly bullish I was on the stock in the summer 2010.

However, Big Blue has been a Big Value Trap for a while now.

I suspect the trap door is shutting as we speak for a good while longer.

_____________________________________________________

IBM

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Late Night Strategy for Tuesday

V0A6N3s

After a few days of bouncing, I have my eye on the mega cap semiconductor Intel as a short setup into Tuesday.

On the daily chart, below, note the bear flag pattern forming after the recent correction off the highs. I like this as a short on weakness.

I am also considering SOXS as a bearish ETF for the semis as a whole on weakness.

Drop me your top tickers overnight.

_____________________________________________________________

INTC

Stock #Market Recap 10/20/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

In addition, please see the top of this video for details about attending our iBC Investors Conference this November.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Anyone for a Deep Fried Apple Burrito?

l

We have AAPL and CMG earnings after the bell tonight.

Who is playing them, and how?

Looks like the burrito is pricing in a big move.

I am flat and waiting for some more information from the tape before putting on fresh trades. Perhaps tonight’s earnings reactions will shed some light.

More about this in my video market recap after the bell.

See you there.

Close, But No Cuban Cigar

Mr. Cuban went long Netflix under the theory of a buyout. If that happens then, sure, it is hard to argue with that bullish thesis behind the investment.

But the chart is showing signs of ending a mature bull run. And betting exclusively on a buyout in lieu of a healthy chart is often a low probability bet.

As I noted last week, this is a broken steep uptrend now, with the stock experiencing a shocking disequilibrium after earnings and increased competition.

I suspect if Netflix were going to get bought out, it already would have, like OpenTable.

Longs who are betting solely on the buyout and ignoring the damaged chart be close, but get no Cuban cigar.

__________________________________________________________________

NFLX

Staring Into the Big Blue Abyss

XDMTT8c

I have been cautious on IBM for quite some time, as I believe the long-time market bellwether had been throwing cold water on the bull with its underperformance throughout mid-late 2013, and most of this year too.

Today’s sell-off exacerbates the long-term technical picture, as the stock appears to be confirming a major top on the mostly timeframe, below.

I expect a move down to $130 in the coming month, based on the sheer size of the topping pattern. As you might imagine, that does auger well for the Dow and likely other major averages. A move back above $200 negates the bearish thesis.

Long-time readers will recall how wildly bullish I was on the stock in the summer 2010.

However, Big Blue has been a Big Value Trap for a while now.

I suspect the trap door is shutting as we speak for a good while longer.

_____________________________________________________

IBM