Epic reversal today.
All day I was on the Twitter, luring bears into my cabin. Around 3pm, I left said cabin and detonated 3 tonnes of nitroglycerin in it. The market reversed lads. Go home to your wives and demand that she make you some stew, and to pour you a pint. This is a day of celebration, a day in which you’ve dodged the executioner and danced all the way home drunk as a skunk.
We trade higher from here, in a classic V shape formation.
Truth be told, I had placed an order to sell 30,000 shares of TRN at the very lows of the day, down about 8.5% for the session. I yanked the order before confirming it because I wanted to capsize across the rocks. Sometimes my fatalistic mentality has its advantages.
In other news, I have proof that we are living in the end of days, at least from America’s standpoint.
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I’m not sure this takes us to new highs, but I’m sure it takes us to a more pleasant place to sell.
I hope it is showtime is still alive. It’s surviving the the ebolaness of the market, in both directions, that is important.
Today was a very ebola day.
The market is going lower just because you posted that video.
wtf, thats mrs president looking like some dopey uneducated gangster fool, very classy.
reversal is BS, just everyone chasing end of day,
it aint over & we all go lower
Amazing volume on key instruments… TLT,VXX,ERX,XLE,etc
Was it really capitulation? Kinda hard to tell. The VIX is still nowhere near the 2010 and 2011 highs. NYMO not confirming either.
getting ugly in ah ..gonna crash tom. i’m guessing.
NFLX down 90 after hours. Does the broader market sell-off continue tomorrow.
HBO news today did not help.
Pity, that for 35 years of marriage I have done all of the cooking and quite frankly stew would be the last thing I would ask (demand) my wife to cook.
That’s truly sad, on many levels.
Well, you haven’t tasted her cooking.
The kids I think missed my cooking more than me when I would go out of town.
You people are smoking jumbos. NFLX doesn’t sway the tape
I gave up smoking. I now spend every last sweaty $5 dollar bill on bathsalts.
Giving people a reason to sell their momos. Everything red for me AH.
every guru: “see, i didn’t do anything today”
wtf are you talking about son?
Not sure why everyone is so hard on the First Lady. She’s a busy single mother… https://www.youtube.com/watch?v=YSJfKXj5qyo
The comments to the video are very funny.
Just now read some of them.. ha ha!!
She does look like a Tranny. Probably has a little pecker like Rick Santelli
Careful with that talk. You saw what happened to Joan Rivers…
Brawndo
https://www.youtube.com/watch?v=-Vw2CrY9Igs
NFLX down 104 LOL
Still up 600% from 2013 LOL
That’s how bubbles work. 75% downside
You are probably right.
He is probably wrong.
That’s true. When ebola really hits. No one will be going out. Netflix all day!
$nflx, $ebay and $axp all missed. wowzer. Today’s move could all be for naught.
Yup, getting lit up AH.
Would be nice to be at the KC Royals BB game now.
Would have stopped at LC BBQ just down the road (wearing a bullet proof vest, of course) for some burnt ends on the way to the stadium.
Afterhours is why I ain’t selling any UVXY for a while.
It’s a long term hold, or at least until it clear in your IRA.
Yeah, it’s nuts that UVXY is a hold. I’m kinda freaking out that it’s the end of the world, but at least I’ll have some coin when bread is $10.
TAKE THAT $5. You are crazy not to take that profit. You can trade through and just get flagged for free riding.
I am going to call my broker and find out if I have those free rides. You are right it’s worth a nice 10% chunk so I can get more for the ride over $100 and beyond.
One in the hand is better than two in the bush.
If Asia and Europe go up, we will open higher, despite EBAY and NFLX.
VIX futures rising to 23.93 (from 21.98 at the market close)
Bull trap volatility
Holding half UVXY
I think the NFLX action is only going to affect a few of the larger high PE stocks tomorrow (AMZN comes to mind) that are in similar positions – RUT drove the market today, not NFLX or AAPL or the other larger named firms
Read the NFLX earnings report, this is an overshoot. People are crazy.
Totally agree this is an overshoot – I couldn’t see more than a 12% move either way
WAIT UNTIL PRESIDENT UNDERWOOD HEARS ABOUT THIS. He won’t tolerate it.
One of these days I’m going to stop watching UVXY make 20% moves from the sideline and buy it, signalling a clear UVXY top.
I’ll tell you, today it was up 20%, and ended the day up 3%. The swings are going to get crazier the lower the market goes. I’ve been holding since $30, and am going to start getting nervous as it swings $20 intraday considering I have a huge position.
Seth, seriously, scale some out in the a.m or right now in after hours for $50, since NFLX miss has kept fear in the air. You did great but just a 3-5 day equity rally will destroy your profit. You gotta trade around with these things… even if you consider it an investment (which is probably unwise since mean reversion tends to be so violent) and even though it is in contango. The problem is you gotta be right day after day after day after day.
Thanks for the advice namoore, I appreciate it. And you are right, I would love to trade in and out of it. Which I am doing in my cash account, but I am not in UVXY there, because I can short.
Problem is that this is my IRA account, and I expect a full meltdown in the market. VIX is barely up right now considering where it was in 08. I expect to see that again and honesty don’t want to miss the move.
Do you happen to have any reference on how to identify tops after a parabolic move? I won’t mind as much if I’m early as I will if I’m late. I could end up losing a huge percentage of my gains.
You aren’t able to trade in-and-out with your IRA?
The problem is you’re basically betting on a full on crash right here, right now. Who knows, maybe, but if you bet big already and got a 60% move in your favor… Take off half, at least.
Pull up the vix ten year chart – i’m just looking on cnbc…
Don’t think of this as analogous to the volatility in sep/oct 2008, but instead look at the spikes/valleys in fall 2007. Vix to 30 and back under 20 three times.
Relief rally is not a reversal… good try though.
agreed indeud Mr P ; )
NFLX did not “miss”. They beat estimates and grew their fucking earnings 85% yoy.
Tough to be a shareholder of size when you risk taking 25% haircuts in an instant.
The pop in momos today was Einhorn the genius covering his bubble shorts.
he is not covering
If you guys don’t think smartmoney sold bonds into this panic today, you are sadly mistaken. That money is going to come into stocks.
SPY was due due to the financials. They were the last shoe to drop. Think about it.
Coal names held up well throughout the day. High beta names held up well. Lot of rotation into good names here.
Imagine this for a second – If europe and china barely pickup in terms of growth in Q4, where do you see a lot of the beaten down names? You are buying panic at this point. I am surprised Fly didn’t buy anything today.
How the hell is the SPY down almost a percent after hours. Damn you stock gods
Watch IWC (micro caps) for clues. It was up twice today in a terrible tape. I think this whole selloff is way overdone. I keep going back to the whole Calpers exits hedge fund holdings announcement on 9/21. Its been dislocated trading since!
XIV for the opposite of VIX