THIS WEEKS PRICES ARE MORE ATTRACTIVE

142 views

I passed up doing much last week in order to be ready for tomorrow’s move lower. I’ll be able to unload my $VXX, and hopefully catch an oversold signal tomorrow.

I don’t get home til about noon ET, but I am likely going to go for some $SPLK and maybe $FB or $GOOGL if things come together as discussed last week.

Stay frosty,

OA

LOWER IS EASIER

3,656 views

The pain trade is usually getting pinched on buying the dip too early, or chasing the market up too much.

We’ve got relatively decent structure from Monday’s lows and Tuesday’s range. As folks change their mind of being long here, I want to buy some stuff they’re selling. Easier to buy red and sell green during this process.

If you hadn’t noticed, the $VIX traded into the 15’s today. That is a fantastic sign for the environment moving forward.

OA

OA BUY: $WING

1,036 views

I picked up shares of $WING this morning, extra lemon pepper, just under $29.

UPDATE: And another block just under $28.

OA

BUYING THE NEXT DIP

2,034 views

Going back over the last few years, most of the tradeable lows in the market have taken about three days to set-up. After a washout move, there is normally a weak bounce to follow, then the test or breach of the washout low.

spxdips

My preferred scenario here is that we’re red tomorrow, with all the indicies testing or breaching lows with the exception of the Russell.

I think that move might last 2-3 days…but from there it is imperative to see where the $VIX and ATR’s are at. If they remain elevated, it would be wise to balance things out with a couple of strategic shorts.

For the day, I am only watching. Tomorrow, I like $SPLK, $PANW, $GPRO and either an $AMZN or $GOOGL depending on where they land.

OA

TAKING MY TIME

2,324 views

Ugh.

Well, I have managed to absorb a greek uppercut these last few days, and have been trying all morning to determine if this is the beginning of something or the end of something. I’ve been able to endure market weakness all year, but this move was much different from all the others, obviously.

A $VIX above 17 means strategy has to change. Since we’re that close…I have not done anything today other than play a few scalps in the $NQ_F/$TF_F.

The $NYMO has traded in a relative range this year, getting as low as -65. We’re -50 right now.

I’m considering getting back into $SPLK if the tape firms up. Otherwise, I am in no rush to do anything here.

OA

SUCKS TO BE ME

3,185 views

Man, these summer Friday’s are getting old at this point. This has been the biggest risk off day that I recall seeing all year. So many familiar names in the -3% OR MORE club, and I end off the week getting smashed.

It’s been a great year this year, but this week sucked bad. I’ve been forced to scale back on a few things, but I don’t like ending the week on a note where the stocks that have outperformed on the year have been liquidated as much as we’ve seen thus far.

The crazy thing here is that the market isn’t fast. That detail is pretty important to consider, because all it does is indicate that money doesn’t leave the market, it just rotates. Notice how the stocks in the +2% or more club are of the quality variety today.

I’m going to sit here and pout for the rest of the day. Trading sucks.

OA

 

THIS WEEKS PRICES ARE MORE ATTRACTIVE

142 views

I passed up doing much last week in order to be ready for tomorrow’s move lower. I’ll be able to unload my $VXX, and hopefully catch an oversold signal tomorrow.

I don’t get home til about noon ET, but I am likely going to go for some $SPLK and maybe $FB or $GOOGL if things come together as discussed last week.

Stay frosty,

OA

LOWER IS EASIER

3,656 views

The pain trade is usually getting pinched on buying the dip too early, or chasing the market up too much.

We’ve got relatively decent structure from Monday’s lows and Tuesday’s range. As folks change their mind of being long here, I want to buy some stuff they’re selling. Easier to buy red and sell green during this process.

If you hadn’t noticed, the $VIX traded into the 15’s today. That is a fantastic sign for the environment moving forward.

OA

OA BUY: $WING

1,036 views

I picked up shares of $WING this morning, extra lemon pepper, just under $29.

UPDATE: And another block just under $28.

OA

BUYING THE NEXT DIP

2,034 views

Going back over the last few years, most of the tradeable lows in the market have taken about three days to set-up. After a washout move, there is normally a weak bounce to follow, then the test or breach of the washout low.

spxdips

My preferred scenario here is that we’re red tomorrow, with all the indicies testing or breaching lows with the exception of the Russell.

I think that move might last 2-3 days…but from there it is imperative to see where the $VIX and ATR’s are at. If they remain elevated, it would be wise to balance things out with a couple of strategic shorts.

For the day, I am only watching. Tomorrow, I like $SPLK, $PANW, $GPRO and either an $AMZN or $GOOGL depending on where they land.

OA

TAKING MY TIME

2,324 views

Ugh.

Well, I have managed to absorb a greek uppercut these last few days, and have been trying all morning to determine if this is the beginning of something or the end of something. I’ve been able to endure market weakness all year, but this move was much different from all the others, obviously.

A $VIX above 17 means strategy has to change. Since we’re that close…I have not done anything today other than play a few scalps in the $NQ_F/$TF_F.

The $NYMO has traded in a relative range this year, getting as low as -65. We’re -50 right now.

I’m considering getting back into $SPLK if the tape firms up. Otherwise, I am in no rush to do anything here.

OA

SUCKS TO BE ME

3,185 views

Man, these summer Friday’s are getting old at this point. This has been the biggest risk off day that I recall seeing all year. So many familiar names in the -3% OR MORE club, and I end off the week getting smashed.

It’s been a great year this year, but this week sucked bad. I’ve been forced to scale back on a few things, but I don’t like ending the week on a note where the stocks that have outperformed on the year have been liquidated as much as we’ve seen thus far.

The crazy thing here is that the market isn’t fast. That detail is pretty important to consider, because all it does is indicate that money doesn’t leave the market, it just rotates. Notice how the stocks in the +2% or more club are of the quality variety today.

I’m going to sit here and pout for the rest of the day. Trading sucks.

OA