Shut down the government. Sell your stocks. At this point I think we’ve flashed our immunity necklace to market weakness for the last week. I’m glad we’ve had some lower stock prices too, as a lot of better name stocks are trading at much better prices in terms of entry.
The strength of the Russell and Nasdaq are quite simply impressive, and should be monitored closely if you are still riding a bullish bias. During After Hours with Option Addict today, I am going to speak towards things I watch during each trading day, and want to point out how the divergences in the indicies on an intra-day level make for great trade signals.
No trades from me as of yet, but will update you with any moves I make.
OA
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PLUG…that’s all….chart’s don’t get much more beautiful.
So I heard about a reverse split…no?
i gave you info on that a few days ago…CEO seems to think it won’t happen now. see this interview…http://m.bizjournals.com/albany/morning_call/2013/09/5-questions-for-a-happy-andy-marsh.html?r=full
good article put out today…http://seekingalpha.com/article/1717092-buy-plug-power-before-october-1st?source=feed_f
this stock is just starting…at least i hope…i have a massive position.
Could you please tell us the names of ” lots of better names stocks are trading much better prices in terms of “entry” “, which you like to enter ? Thanks.
What will you do with that privileged information?
: ) off course love to buy them and hold. Because all the good names I’m looking are higher priced and hesitate to get in here.
If I tell you now before they set up, you might get in too early and get emotional.
You know me well, Sir. : ) Waiting your voice.
LOL!!!!!!
Let YGE go @6.58 this morning exceeding my 6.50 target, thank you for the helpful input. 16.2%, week and a day.
May revisit if we get a pullback to the 5.90 area for the ride to 10. Thanks again.
Look at that! You made money in a losing environment.
Some call that Alpha.
some seek it.
Without the volume bands you have been sharing and your answer to my question on AH I probably would have bailed in the 6.35 range. Every couple of bucks and percents add up at the end of the month/year. Thanks.
True..I am holding
CEO “We will work closely with Nasdaq and work to remain a listed company and bring the stock price up,” Apparently without a reverse split…and in three days?
So those stories last night actually were kinda cool, bro. Those days were fun with SKF and SRS too but wish I had been in your trading room for that fishy one!
LULU is so effing primed to go. But a big market reaction to congressional inaction Monday will kill it…
IPXL setup? Decent volume profile overhead if it can get moving up. Hasn’t moved in that sector that is crushing today.
nm… too low beta and more of a manufacturer than biotech. Still think the entry looks decent though.
Thanks exited DECK today. Entered at $1.72 and exited @ $4.0!
Looks like $MOBI broke out even without a functioning volume chart…
Your Bear Stearns story last night was bitter sweet to say the least. I was a broker there, felt like I was on the Hindenberg. a few of us ( including me ) wanted to buy BSC puts for our own accts and compliance absolutely REFUSED to let us do, it almost had a fistfight break out right there in the office over it.Best firm on the street to be a broker, hope Jimmy Cayne’s ass cheeks grow together.
Man, if the ship is sinking, compliance should be telling you to offset your life losses by at least letting you help the bitch burn. Sorry to hear that.
My brother in law was a 25 year employee of the company and his entire 401-K had to be in Bear Stearns stock. I think he got something like $2/share at the end. To say he was devastated is an understatement. I felt a bit guilty riding those puts down and bailed way too early.
he’s an idiot
Do you need assistance, Jeff? 🙂
http://www.youtube.com/watch?v=I6ovXnZcb_A
HAHAHAHAHAHAHA
Lots of stocks running well for me. Thank you OA! I am making money today even on my VIX options hedge. At least on paper. Not gonna book it till Monday uncertainty. After all that is why it is called a hedge.
Well spoken
OA, dumb question on exiting a call position: if fund is not an issue, does it make sense that I “short” the corresponding equity to secure my call that expires tomorrow? Since option volumes are much thinner…I assume come tomorrow the short position would cancel out the assigned call automatically. Thanks in advance!
Any call that is .01 in the money will be excercised per CBOE rules. If it is out of the money it will be excercised. So if you bought a call, tomorrow you will own the stock. If you sold the call and buy the stock, then tomorrow you will have sold the stock at the strike price of the option.
Correction: If it is OUT of the money, it will simply EXPIRE.
Thanks! I understand the basics.
Wait, you are long a call that expires worthless tomorrow, right?
No, I’m $2+ in the money but I’m thinking about taking the profit via shorting the equity because the option spread is bigger than I’d like. I was thinking doing the inverse of the case where I long equity but I could take “exit” by buying put contracts… Again, this may be a dumb thing to do but in that case I need to know. TIA!
While I don’t understand what you are trying to do – let’s be clear about one thing. If your option position is open at 4pm today – tomorrow morning you WILL own 100 shares of the stock/contract at the strike price of the option.
why don’t you just sell your calls?
You do not want to sell because the spreads are too wide? You’d rather just buy the stock?
May I ask the ticker symbol?
if the call is in the money, the bid should at least be the extrinsic value. If not, well that is one illiquid bitch I imagine.
Symbol is UA. The spread should decrease approaching expiration.
So it worked. I shorted UA at 80 to take precise profit for my in-the-money 77.5 calls. The difference for me is peace of mind — I could try to sell my calls for 2.50, but I may not get it and end up risking holding shares over the weekend. Today both my calls and short positions are gone from my account.
just got in on some clf/mcp/grpn’s
Whole Foods is looking wholesome and ripening up for a pick. What do you think?
Look at V and MA. I am getting attracted to their basing pattern. Thoughts? While I have pushed most of my new purchases for Monday morning, I think I am ready to dip into one of these today. Would appreciate any insight you may have on them.
Charts of $DNR look promising.
I love the exchange of ideas in here daily. You guys are awesome.
Forget whole foods, go with RNDY. Chart looks great and ridiculously undervalued.
Fade or rally into the close . . . Thoughts? Want to do a couple of high profile YOLO’s into the close!
GMCR going to bounce here?
My take is,,, max pain at 73.80ish then hover around a while, then run to 80-81, then aversion 77, then up. We need some good push to run, means good earning in Nov. I’m in all the way for loooong shot. Sir. OA, what do you think??
Sorry not “max pain” but more like bottoming process starts. I trade GMCR since 2009 and had lots crazy moves ( because of high short %), but always management prove themselves.
GRPN got its gap fill – easy to manage entry here. CLF – good entry right now. But I’ll hedge if /TF takes out morning low.
purdy and OA: glad to hear someone is buying this dip with me…bargains on BYD oct $15, DECK oct $67.5, GRPN oct $13, MCP oct $8…
my (former) fslr weeklies are now zeros. love it.
What price you looking for on YGE? Looks to me like its going to $9
OA target is $10
I agree with this. Above 7 there is a volume pocket until 9.
Hi OA,
What do you think of CALL? It fits some criteria – hasnt yet moved up with overall market / high short interest / etc. but seems dead.
Thanks!
Are all you YGE longs holding through the weekend?
I bailed on my YGE options and stock with a tasty gain. I will look for rentry on a pullback and if that doesn’t happen I still made $$$, so I am happy.
I sold a few to cover the initial trade investment, leaving the rest to run
rolled out my FSLR profits and back in on some oct week 4 42’s. Nice price improvement day.
Vix is pretty high today
Lot of risk into the weekend. Insurance being bought.
Good idea to book some profits?
LL closing strong after bullsh*t raid by the DHS, DF & G and DOJ