Guys, Dow down 150…all my stocks are up. Not to mention, I have front month OTM calls on these.
SINA, DANG, MCP, YGE, FSLR, CRUS, P, SFLY, GRPN, PWRD, DECK
In other news, my attempt to broadcast out of the trunk of my car while traveling today has resulted in an ultimate fail. The internet here is shit, and I apologize. It is not strong enough to transmit voice. I would like to try this again for the After Hours with Option Addict crowd, and perhaps even invite the Piker’s along with us, to see our hand at market mastery.
Tomorrow, I will be back for our normal time as usual. Enjoy watching others lose money in this tape.
OA
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OA, noticing relative strength in the housing stocks here. Any of those looks best for a YOLO?
Housing stocks are not great for YOLO-ing
YOLO? A new technical term?
YOLO – adv – Informal euphism for “You Only Live Once”. Implies a high risk high reward trade, usually executed on a Wednesday or Thursday with a Friday expiration. See also “Hail Mary”. OA has been unusually prescient and succesfull in calling profitable YOLO trades for this room in the past 2 months with a success rate approaching 75%.
Can also be used as both a transitive or intransitive verb as in that stock YOLO’d, or that stock is YOLO’ing. In the usage above, it appears to be a noun, however the CORRECT terminology would be – “Any of these look best for a YOLO TRADE, therefore behaving like an adverb.
Great description! Thanks for taking the time to ‘splain it to me.
Y- You
O- Only
L- Live
O- Once
Trading an OTM weekly option with 3 days or less til expiration.
You only live once!
Yes, I submitted it to Investopedia.
MCP… that’s all I have to say.
Ditto and Amen, brother.
MCP seemed like the “forgotten stepchild” last night as I reviewed my portfolio. As of this am, my position has tripled (from a loss) into a 3 digit return.
fuck me, I’m up .35 bps market is down .85 bps …I’m about to go write a testimonial!
You really should. And don’t forget to mention your returns.
Actually you can write it here – OA will put it on the testimonial page.
Got to love this tape.
I am learning to LOVE these “down” markets. With my speculative holdings now 90 percent OA picks, I’m up 8.5% this morning. While it’s nice to make money, it’s even NICER to be making money while most of the Joe Schmo’s out there are losing their shirts, clawing their eyes, and shredding their garments !
(I know their is a German word for the celebration of others tragedy, (schausenfraude ?) – can some lit major help me out here ?
schadenfreude = pleasure derived from the misfortune of others.
Evil dude ha ha.
Thank you sir. My intent is certainly not evil rather – a double your pleasure kind of fun (eg I’m winning they’re losing). And I’m picturing the blonde Doublemint twins as I type this !
OA – The way BTU has behaved the last few days prompted me to look at ANR. Looking at that low in Aug, if ANR holds 5.75, do you find it of interest?
Goldman recently upgraded ANR from “sell” to “neutral”, FWIW.
Jesus – SODA up 29.78% percent here and I bought at the bell THIS MORNING !
Putting in a midnight (PST) order at the ask definitely requires an Indiana Jones style “leap of faith”, but I am certainly learning “courage of conviction” in this room.
Is 8am too early for celebratory cocktails ?
No…It’s 5 somewhere, right?
Have you seen her, tell me have you seen her?
have you SINA dude
OA – Housekeeping Items
Exit strategy on MCP – I had pencilled in a target of 10, and am resisting the urge to take profits.
Reminder you committed to an upside target on SINA today.
Thanks
Long PAY Oct 24 strikes here. Check out GPN.
Nice bump on earnings for GPN. Question is, will it hold ?
Nice volume hole in PAY up to $29 – in at 35 cents sell at $5.
Purdy
i’d like to submit a new term: HOBD.
Hookers and Blow Day. A day when the market is red but your account is 8%+. 8 being reference to 8ball of course.
Could you please leave women out of this? I’m not a prude, but I come here to trade and learn, not be put down. Thanks.
my apologies ma’am.
Ilene, let’s not be sexist…. maybe the hookers were male..
OA gots too many winners to remember SODA. What a BAWS indeud.
^ my testimonial btw.
Thanks OA ! What is the target for SINA ?
apparently the play on FSLR is to sell at the open and rebuy at the close. These pops don’t last long.
Up 35% yesterday.3% today.Sold BYD YGE SINA.Looking to sell BITA SOHU YY Made my profit and ain’t got the balls to wait for more besides,gotta work tomorrow.The wealth effect seems to work,bought a second monitor.LOL.OA have a nice trip.
M. Bear – evidently male hookers are ok.. Just make a small amendment to HOBD & call it ‘Liberace Day’.. candleabras optional
lol
&&& My Love Does it Good &&&
P Pops !!!
I swear to God OA has a time machine
Johnny $SINA!!!!!
out of SINA.. Its okey 110% might pop another 3% tomorrow, thats story of my life
@Matt – A) did you make money? B) did you execute your plan?
Learn from each trade – and work on growing a positive attitude.
Oh yes.. I am still on the learning curve.. Thanks
Good man. Suggestion – I find it helpful to keep a trading journal – jot down notes/thoughts/what did I learn. You might too.
Congrats on a very good trade!
Totally agree – and don’t forget to REALLY look at your entry points – a lot of times they make the difference between a killing, a good trade, or a loss. Having a good historical reference for daily prices is a help – being on the west coast, I find a lot of my trades COULD have been better if I had let my original buy order stand for the day rather than being in a hurry to fill. Sometimes a .20 to .30 difference per option contract. Usually on those I realize I was “chasing” the stock – which is usually NOT a good trade.
Like others, been wondering about SINA target. So I took the chart and drew two different kinds of trendlines suggesting two different outcomes.
http://my.jetscreenshot.com/13249/20131002-yhnb-20kb
http://my.jetscreenshot.com/13249/20131002-nqgz-19kb
In the first case, short term target is achieved.
In the second case, it still has room to go.
Looking at the volume profile, I am inclined to go with the first case.
I know OA is out today so anyone expert in giving feedback to my prognosis, I am all ears.
Depends on stock or options.If you got options be careful.If you got stock i believe there is an Alibaba connection.Good luck.
RSI making new highs (barely). MACD about to confirm the bullish crossover, and Bollinger Bands are expanding up, usually a bullish sign. But, what the hell do I know
You get smarter each day, my friend.
OA was looking for new highs which would be above 87.70ish. I saw a trader yesterday in here with an internal target of 86.40. My own trigger was 86, but I am conservative on such things.
FWIW to ALL traders contemplating selling, note that OA is not in front of a monitor much of the day, so he is obviously comfortable letting his positions ride. I personally don’t see any major pullbacks today.
Great inputs, all. lanforce, I agree OA must be comfortable to let it ride. I also agree with Harper. Although OA doesn’t give much creedence to lagging indicators, the RSI, OBV, macd, slow stoch are all looking quite constructive in the context of price movement. Maybe I will hold for one more day.
Unless I can get 4.60-4.70 today, I will hold for longer term.
Maybe take profits somewhere above $87 unless you think it’s going to break out as SINA is one of those stocks that can really run and trend once it breaks.
All out +120%
Still holding. Thinking of cashing end of day. After all they are YOLO weeklies.
Not a Level II expert but there is a constant bid. The bid order size is also larger than the ask order size, which is usually a good sign that demand is more than the supply. This seems to me that prices will hold for at least a bit more time.
It’s already hit and lost its day time high. With weekly’s if it were me, I’d pull the trigger now (it’s at 87.05 as I type this). Fight the urge to try and milk every drop. You’re in time decay land now also. My .02
Daily chart could be about to enter into an “enthusiasm” run in sentiment chartand still has higher highs, higher lows.
30M chart inverse H+S breaking out which can also be seen as a transition from discouragement to wall of worry on lower timeframe if that helps.
But if the daily is a big ascending triangle it still may consolidate for some time before it clears new highs and runs some more so if you have an option position you may want to take some off before the 30M grind mode comes to “aversion” or buy some more time and wait it out.
87 was the short term target i believe.
I believe he was looking for new highs
I am out SINA, was great pop in 2 days !!
I will hold looong FSLR though.
Just took FB Oct 55 WK4 for .75.Includes earnings. Thinking the MOMO runs up till then after what happened in July. Thoughts? Doesn’t anybody else like to look at pics of food all day?
My Oct 50’s are languishing right now. You could be right, but I’ve been seeing bearish signs from both Street.com and here (fly). They killed on earnings last time esp on mobile media – I think that will be the key to how much it moves.
Look at pics of food ? Nah, I simply inhale it.
Well,hopefully nobody catch’s on to the adtrap device before then.See Josh Brown’s blog for more on this wonderful invention.Gotta get me one!
Are you sure week 4 will include earnings? Think they report on Wed Oct 30
NAS just went green.
OPEN THREAD FOR OA pick TARGETS:
Portfolio up 18.65% today.
Recognizing how hard it is to simply sit back and watch your money grow today, here is a thread for your input on targets for your open OA positions: it also might be a useful excercise to think about and note your risk/reward setups on your trades !
Mine:
CLF – 22 (ha ha)
CRUS – 26
DANG – Not In
DECK – Not In
DRYS – 4.15
FSLR – 48 (OA is 50)
Reminder most are saying pop is 3-5 days away on FSLR.
GRPN – 13
MCP – 8.50 (OA is 10 IIRC)
P – 28.25
PWRD – 20.95
SFLY – 87.50 (Good entry point here on pullback – Oct 60’s @ .65-.70)
SINA – 86.50
YGE – 8 (OA is 10)
Feel free to add your thoughts as replies, and you can also add your performance for today if you like.
Oh and…
SODA – 68
Thanks – those are all really helpful and good to reinforce the plan of having specific targets.
Your target of 87.50 on SFLY – how do you arrive at that?
I’m thinkin SFLY target is a mistake.
Yikes – you are both correct. SFLY was a typo (a hazard of big spreadsheets and 50+ year old eyesight). Target was 58.50-60.50. That was based primarily on 9/11 and 9/19 highs.
and out of half my weekly sina 83s for 400%
THANK YOU, OA!
You had 2 I see.
yup – only a couple as I had just average joe’d a common long the day prior
Wow,,, what have you done OA !! All your students are really great, and I’m learning from them today without you. You are the true master. I will keep learning from you guys. Thanks!!
Looking at a shipper to buy before next pop. Thinking GNK or PRGN. Thoughts anyone?
DSX
Agree, coiling up nice and PRGN a beta of 2.2
FWIW, entered Nov 10 calls this afternoon…looks cheap, but only time will tell.
DECK keeps sneaking up but needs to pull back.FWIW somebody has an $80 target
did you buy puts on an open OA position? shame sir. shame.
No way, still have my calls. May not want to buy up here though.
Obviously, Goldman et al had OA chipped when he had that “procedure” Their algos deploy money based on his very thoughts.
Does the chip explain the strange hum on the audio during AH presentations ?
The best aspect of OA’s method aside from his sharp trading skills is his obvious love of teaching. I remember all my best teachers from eons ago and he is on that list.
Totally agree, biffer. Transfer of learning much easier/mroe fun when the teacher is inspired and inspiring. 😀
LITB= green fo me.
It’s been one tough hold, but this time patience paid.
Now if it just get some legs and run.
Shoot – that one was under my radar. I’ve another .20 to go to be green – but heck, we’ve got time.
Thanks for the heads up.
Ianforce – I’ve appreciated your comments today. Took some Oct 6 ANR calls during lunch. Will be fun to see how it plays out…
+1
Interesting trade – don’t be surprised to see a tad more pullback before it coils. It looks like a lot of volume on the sell side today.
And thanks for the appreciation – candidly I made a decision last night that after placing my order for SODA, I would NOT touch my order screen today – fighting the inclination in a moving market to “do something”. So knowing OA would be mostly absent, I figured I could be a cheerleader in the blog and remind people how WELL positioned we are for this particular market.
Good luck on ANR – remember PATIENCE is a virtue !
OA – you like $RKUS? ready to break out?
I’m reading this, blown away in terms of how far the group here has come.
My hat’s off to you. Well done all.
OA
We learned from the best!
OA has turned into a lurker.
LOL
that sentiment chart worked great today on the 5 minute.
looking at the daily it seems like we are in the disbelief warning phase.
Check out FSLR end of day move.
Sweet
Mr. FSLR must have been buying.
I put my FRO on, and got my GAME on today.
Check out that FRO!
http://2.bp.blogspot.com/_je3tmgx-OvM/TRw8tPnHD1I/AAAAAAAAADI/_q5JXlERwiM/s1600/moss-afro.jpg
Congrats to everyone who had a good day today – it seems like much of the prep work done in the past 10 days managed to come to fruition on a day when the DOW was down 60, the government was closed, the bond market was in turmoil, and Cramer delivering his 2001st broadcast.
Imagine what we all can do on a “good” day.
(Closed for the day up 19.02%.
THANKS OA
So what’s the good word, OA? will we see you tonight? or tomorrow afternoon?
Was DCTH one of OA old picks? MOBI was, but don’t know if he’s still holding….
OSGIQ moves for today anyway…
Thanks,
Out
DCTH was discussed in AH and MOBI was on the “watch the chart” list for this week.
I feel so left out so I guess I will talk my book too:
FSLR bot the stock at $38.19 still holding
FSLR bot the Oct 43 calls during to todays dip @ 1.65
YGE bot the stock at $5.67 still holding
YGE bot the Oct. 6 calls @ .44 still holding
P bot OCT 25.5 Calls yesterday @1.56
GAME seems to be stuck at 4 and that is where I have been buying, the longer the better
I am long HIG stock @31.70 one of my few red marks.
I sold LITB yesterday at a loss, and of course it goes up today.
FRO and BALT for fun only…
It has been unbelievable watching these picks unfold, and I have not even been in on the bigger trades, as the options are so new to me…but the whoosh factor of OA had been CRAZY good….
yoww the Cult of Kohler…lets set up base camp in Waco
the solar company that is first…uh winning,,and POT
Hi OA, what is your long term target for RENN ? Thanks.
A few winners today as well UNXL,YGE, CLF, NQ, GOGO. Banking coins and having a blast w OA and this group.
just noticed…the market was down big today…lol
I thought it was going off until OA reminded us it was down. LOL
ANGI getting hit in afterhours, tomorrow may be shopping day.
Sir OA, does any of big name hedge fund investor’s call affect your position ? ex, D Einhorn shorts one of your holdings, then you feel unease and sell or doesn’t care ?
Some of big name investors have power to move stocks, and I get scared.
Please enlighten me. Appreciate.
Jp…your imagination is running wild…lol.
Harper – tomorrow…usual time.
Being a first timer to the live-webinar check in this morning, I was definitely amused at the attempts to make it work. Cheers for trying, OA!
Per your schooling active recommendations, the end of day had me up AGAIN. These last few weeks have been phenomenal! Thanks again OA.
OA I just ask you about my position in CRRS and it goes up 24% today?If anything you good luck!
OA, any thoughts on CYCC and ZNGA? I’ve held long on both for a while. CYCC looks coiled big time. And as for ZNGA, so much volume this year. Not sure if that’s accumulation or distribution.
FOSL…How about some 125 calls?
OA is this the after hours group or your Trading Addicts group?
After hours
Hi OA, what I meant was today D Einhorn says he is short GMCR. I remember what he had done to GMCR in 2011,,,, so I am scared same move gonna happen ??? So, those situation affect your position of holdings ?
I’m not in GMCR. Hedge fund managers don’t bet against me.
Which service provides the real time calls? Is there a link?
For trade alerts http://www.tradingaddicts.com
Did you ever get out of SINA or still holding it? I held but getting out tomorrow morn hopefully with a graceful exit.
I hope for much more comedy today as well
StocksRider – looks like we were right on holding SINA one more day lol…could of, would of, should of. Now, I’m pumped for whats next!
TheHarper, congrats. I just sold it and booked my gains.
OA, do you ever catch falling knives with near term strikes and expirations for a mean reversion play i.e. ANGI?
Only on occasion.
I am thinking about this as well. Oct 20s?
booked FSLR. done and moving on for good.
I FINALLY sold SINA weeklies. Booked 270% gains.
Awesome
Option addict,do you do this for a living? is it possible to trade for a living starting with an account size of 100k or should this just be viewed as passive income?
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