Sunday, February 14, 2016
The first hit is always on the house.
Joined Aug 2, 2009
1,367 Blog Posts

LOOKING OK INTO NEXT WEEK

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Feeling pretty good about this look heading into next week. All conditions in oil, credit, banks, carry trade, etc are looking better here ahead of the weekend.

Here’s another look at last years bottoming process.

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And a look at the last two months on the hourly.

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After getting shook from the NKD last night at breakeven, I bought the NQ this morning as well as some $NFLX and $GOOGL calls that expire today…just for some day trades. As a reminder to my beloved After Hours with Option Addict patrons, I am leaving here in a few hours for the weekend.

Have a great long extended vacation away from this stuff, and email me with anything you need.

Also, a quick public service announcement, but next weeks Investor Boot Camp with Jeff and Jeff is locked and loaded.

We’ve got some great things planned for you next week, so be sure not to miss it.

OA

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OA BUY: /NKD

last-samurai

Against my better judgement, I got hammered and bought some Nikkei tonight. 14935.

Any of you guys trade shit at night?

OA

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SWEEP THE LEG

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The term leg sweep is in reference to stocks taking out a low, only to reverse.

Legs = market lows.

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This also is in reference to the Karate Kid movie, in which an illegal method was used by the Cobra Kai’s to hurt Daniel Larusso and remove him from the tournament.

The two tie together as when the market will do whatever it has to do to win, short of cheating, but playing dirty.

“No Mercy.”

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POLLS ARE OUT

WASHINGTON, DC - MAY 21:  Apple CEO Timothy Cook gives reporters a thumbs-up after testifying before the Senate Homeland Security and Governmental Affairs Committee's Investigations Subcommittee about the company's offshore profit shifting and tax avoidance in the Dirksen Senate Office Building on Capitol Hill May 21, 2013 in Washington, DC. A Congressional report released yesterday said that Apple, America's most profitable technology company, used a complex system of international subsidiaries and tax avoidance efforts to shift at least $74 billion out of the reach of the Internal Revenue Service between 2009 and 2012.  (Photo by Chip Somodevilla/Getty Images)

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A couple weeks ago, bulls had hit a low that hadn’t been seen since 2004. This most recent poll has seen a bull/bear spread not seen since 2008.

More later,

OA

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UNPRODUCTIVE AFTERNOON

iB7Ys3a

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Stocks are pretty wound up here, and bonds are slowly grinding higher. With oil at session lows and no other leadership being offered up here, its starting to look pretty dire out here.

Are you trading this, or just watching?

OA

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