I am in awe of the shit financial advice thrown out over the teevee and throughout many different arenas on the internet.
Very few have gotten this market right lately, and what’s worse is how wrong most have called it.
Look, we operate in the shadiest industry on earth. It’s like the weight-loss industry. Everyone has the magic pill or supplement, and they’re willing to sell it to you. How many pills do you need to pop before you realize, its not that bad genes run in your family, its that nobody runs in your family?
These last few weeks should encourage you to reduce the noise you listen to through financial media. It’s a matter of time before these retards are run from their privileged positions anyway. Take your advice from traders, not reporters or internet marketers. When you start to take these people for what they are, their value diminishes significantly.
I’m pretty excited about the analysis we’ve done around the market over the last few weeks, and even more excited to start highlighting the rotations that will start taking place over the next few days. If I didn’t earn your respect in the last few months, than perhaps I don’t want it. I’m focused and excited for the gains setting up in the month ahead, as you should be as well. Speaking of which, welcome to STOCKTOBER.
OA
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bring it on!
how to make no money in trading.. watch CNBC
OA- you earned the respect !!
how to make money in trading:
Watch Cramer, then do the opposite of what he says !
but I do have little respect to Cramer, ex. the very next day he said ” don’t short UNXL”, it leaped. or ” buy, buy, buy” for FSLR. He calls right sometimes.
I think it’s his timeframe that people don’t understand.
I’ve never understood why their are so many Cramer haters out there. The guy is a decent stock picker, and ran a very successful hedge fund for years.
Admit it or not his show is entertaining, and he has called out some decent stock plays.
I TOTALLY AGREE!!!
I’m with you, Plumber – I think it’s a “time frame” thing – we’re mostly traders here – we’re in and we’re out. Cramer’s picks, however, tend to be long term views
HEY I GOT ONE RIGHT !
I mentioned CTSH in the blog yesterday as looking coiled. Sure enough today it pops. While I didn’t trade, it’s nice to know I’m STARTING to learn how to fish (I think I’m at the hook baiting phase, next stop casting). Thx Jeff for teaching your strategy AND taking emotion off the table (eg patience).
Could you peek at GS and see if you think it’s wall of worry or ready to pop toward 165-170. I think it’s the beginning of a pop, but confidence level is only 50%.
Thanks
I would go elsewhere in financials into this next leg up.
I find this slightly humorous.. the ad that is placed right next to your post is “1 tip to a tiny belly” And has a picture of an obese cartoon girl in her underwear. Apparently google picked up on some key phrases in your post and thought you were one of the weight loss gurus.
It’s like that post I did long ago about “assholes” and a Tim Knight ad showed up.
ha
Do you think YOKU is ready here? Or give it a few more days to consolidate? Thinking Oct expiration.
Very soon.
Am I correct that if we see a rollback to under 28, then the setup is practically perfect ?
OA, the “perhaps I don’t want it” reminded me of Bisping’s epic post weigh-in speech: http://www.youtube.com/watch?v=r4LMjn8PF0o
Beyond Epic.
was that before or after he ate hendo’s right fist?
I cant believe I havent been trading options this whole time. SINA is a good first start. 🙂
first hit is always on the house.
That is the perfect tag line.
So when do we actually sell this thing? How do you know when to get out while the going’s good? or is that a question for AH??
Trade management is the toughest thing to learn in this game. Whenever you enter a trade, you should have a handle on risk/reward. There was a nice pop today. How far do you think it will go ? OA bought 85’s so obviously he thinks it’s above that. All time high is 87 and change. OA committed (Barons thread) to a target price tomorrow. Personally I am looking for 86, but have set flags for any sign of a decline. If you have multiple options, some will take their profits out of (let’s say) half and let the other half ride. OA disagrees with this strategy. If trading is not your full time job, then it’s a good idea to set a target sell in the form of an order. You can make money VERY fast in this game. You can also lose it JUST as fast.
87.30 is an area I’m looking at
Good work OA… SINA taking off, did not take the trade unfortunately.
Still some money to be made with put spreads, if you are feeling lucky.
Look how SINA broke out on 9/5, pulled in on 9/6, then began its move to highs. Tomorrow may offer that opportunity, I missed it so I will be watching.
I am sitting here bro wondering what’s going to happen when the market actually goes up. This market of stocks is all new to me.
When correlations are so low, it’s truly the only way to trade.
OA, feels like LGE still has room and solar is going pop in 3-5 days. my tgt is 10. is it wise to let OCT work a bit longer?
YGE?
sorry abdroid typo – yes YGE
Heading to $10
Stop the presses! Indices drop a staggering 0.2% after President’s inflammatory speech.
Stocktoberfest at OA’s house! …SLC gets wet.
Sold out of Cree with only a 300% gain.haha.OA you must be plugged into the great algo in the sky
The market gods are smiling upon me. I’ll ride it as long as I can.
And all this on the ONE day of the week I go to work late, so slept in and missed much of the excitement.
OA, do you give your members real time trades?
Yes indeed.
What was that one William Shatner Magazine cover or whatever calling for the end of priceline? LOL, would be funny to see it now. PCLN over $1000!
That Barron’s cover is on the wall here in my office.
I found the article while doing an image search for the cover.
http://online.barrons.com/article/SB50001424052748704567604578410841103474014.html#articleTabs_article%3D1
The financial TV is there to get ratings, not dispense accurate and reasoned advice. They do have some news items interspersed with the snake oil salesmen.
Thanks for UA and YGE OA – I’m exiting YGE today on black daily candle
huge score on $YGE. All thanks to OA.
Anyone here looking to get into $ANGI?
(Repost from Barron’s Thread)
Jeff
Out of YGE at 188% – Thank You !
Put in a placeholder sell order last night for $2.85 on FSLR (the close had been $1.65) and son of a bitch if it didn’t pop before I caught it. 220% gain, however I’m still bullish on the stock.
Cash poor margin rich, what do you think of a 42/45 long spread (say week 4 Oct) ?
Don’t limit gains in a spread. There is a big move coming.
Also out of YGE today, 230% gain. Rolled the money right into some P and CRUS.Thanks OA. We are killin’ it.
LONG OCT 67.5 Calls – SODA
LOVE IT!
Coach OA, I have been on twitter for 5 years everyday watching traders…your Sept. 2013 is the best month I’ve watched and traded…OH yea, SINA +60% since this morning…i took some profits…nice work, sir!
Maybe you can coach me on how to use Twitter. Deal?
Deal OA…..TheFly was one of the first guys i followed in 2009…twitter is a powerful tool if used wisely, i will keep on tweeting you..I’m @dvaughn21
bought 40 contracts of the Jan 2014 calls on $SUNE. I see a big move ahead.
gonna miss the live review, but daytime Weds would be awesome, IMO
Interesting analysis of FSLR and the solar market in general – a little dated (08/22) but surprisingly prescient – this guy knows (and owns) solar !
http://seekingalpha.com/article/1652952-just-how-high-can-solar-go
Jeff K. da bomb,,in the zone when the market in chaos..he’s getting more in tune as the years go by
Is it too late to get in YGE visioning 10 ? I am in FSLR but not in YGE, so want to get in, knowing many traders took profit and done here. I know ” never chase” rule, but if we see future prospect, why not… What do you say Sir ?
If you didn’t want it at 5…why pay 7? What happens when you buy here and it hits 6 before 10?
Horrible entry here. Don’t let a missed trade trigger an emotional buy. Regardless of the stock or target price.
Thanks ! When it was 5’s I didn’t have money for it. I was in other stocks. I have money now from selling those, so I want to buy YGE. Off course I can wait to see if next chance comes to me. Sometimes simply depends on how much money I have and want to use, risk as a small retail investor.
What do you make of ticker SR?
Can’t log on to live trading “session full”
got the same message here
Just took 1/2 off my first options trade ever, SINA +110% overnight. Thank you, sir! will let the rest ride. It’s nice to be up when them market is down.
i love top ticking an exit. sold out of my position with the stock at 86.40 Heck may just re-enter
OH yea, SINA too, I am all out for 100% +…welcome to the world of options leverage Harper..it really isn’t this easy, I can assure you….of course with OA it is a different ballgame
Hey O addicts, Coach did it again…+90% in P $27 calls from yestrda…ridiculous…took 60% off…also watch WLT, SODA, FSLR, YOKU on the move….Coach ownes or mentioned all these..another nice week so far
MCP showing a lot of life here