Many market players seem to be inclined to look for a sharp, snapback rally in the tape.
But before that happens, we are seeing more stretching of marquee names to the downside. First and foremost, major casinos continue to stay quite weak, namely LVS MGM WYNN. Indeed, bottom-fishing these names has proved to be particularly ominous this autumn. Still, earnings are coming up, which is good enough reason to cover shorts and wait for a better short entry later this year, as I have seen no evidence of a major bottom in place.
In addition, marquee momentum leaders such as GOOG NFLX PCLN TSLA are also quite weak at the open, seeing me stay sidelined here, largely in cash.
On the Ebola front, of CMRX TKMR get going today I may take a stab on the long side.
All in all, this is a corrective market with risk remaining lower.
>All in all, this is a corrective market with risk remaining lower.
Yep, there is also the risk that in the next week or two. We see a speedy downward woosh, a -500, -1000 day on DIA.
Would be something
I have no idea what you just said can’t take my eyes off the picture…lol
Focus, Danny
Chess your camera must have made a noise…you have to disable the sound.
https://twitter.com/stoolpresidente/status/521424128172388352
Ha!
G damn Chess, i was going to post something but now i’m stammering and nobody’s going to read it anyways. I’ll wait for your next post lol
Haha
I’m heavy cash with all my option positions crushed except for BAC. Sold TKMR this morning for +5%. So not all bad
Good man, Danny
TKMR has some momentum. Did you take a position in it?
-bet theres a fox news channel somewhere that will say she asked for it.
holding GNTX and BNS puts, not letting TKMR or D calls go till I see the whites of their eyes. If this works will have a real pic on here soon. reading iBank helps, alot.