As discussed yesterday, “there was an initiative buyer in stocks.” We are in tradeable bounce mode. Having taken off the hedge for a big gain and added to longs, I am feeling pretty good about our market map this week. It was crystal ball-ish.
Note: I am long VMW Nov 85 calls here.
More later,
OA
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OAIG
OA, any thoughts on why AAPL is not moving that much?
I am very boolish on AAPL
OA, I am pretty heavy long right now and doing good thanks to you 🙂 I have alot of options expiring next week…what are your thoughts on holding these? Should I sell into the strength today?
I guess I should be specific: open, gme, appl x 2, and crus…All nice gains from 10/8…
You bought at a very good time – congrats.
Well I was waiting on a pullback and the panic level was pretty bad…so felt like a good time to take take OA’s trades…I didnt’ get at the very bottom, but it turned out to be a good entry…
CRUS is just a marginable gain, but I am just curious on OA’s thoughts going into next week…its probably a dumb question as we are all held hostage to the madness in Washington…
(Repost from Red to Green thread)
OA – I nailed a nice dip in AAPL and picked up put spreads (490/485) which JUST cover the cost of my 500 weeklies. There was about 2 bucks of time value in the put, so I figure anything over 487 I should be OK.
Still have some value in the 500′s – question becomes take it off, or let it ride as a YOLO ?
Bird in hand and all that…
Thx
I would be all over this, even still. Dip buy ahead of resistance…pop
Thanks for confirming what I was sort of thinking.
reading OA above, added to my AAPL 10/11 $500 calls….i know, i know…..never add to…
Well – you got em at a good price anyways.
got the add at $.30…but basis on position is $2.15…AAPL 10/11 $500 calls…I need another 7-8 points in the next 24hrs….also holding 10/19 $515 calls…..fwiw
Wow – you’re in steep. Did you see my note to OA on my put spread hedge. I’m in (average) @ 1.23, so I’m only knee deep compared to you.
That’s a lot of time premium to try and make back !
AAPL’s daily is starting to look just like the sentiment chart.
Thanks for walking me through this OA.
OA, must be something I don’t see about VMW-care to elaborate? pls
Look closer, its the same set-up I trade in most of my trades.
Look at the five day chart and overlay your wall copy of the sentiment chart.
Classic OA setup.
Jeff what is your take on CIEN. Close to 52-week high with 20% short.
Rajesh? You’ve been long from the teens, no?
Yes, been in and out. Looking to get in.
re VMW break of downtrend line, RSI bounce at 30, bounce off lower BB- All Daily. Am I close?
Falling wedge Mike
Consolidation, contraction, location.
I got nothing on trendlines.
OA,
Thanks for teaching me how to fish. I was able to pick CNQ the other day in AH…and today voila!
Quite a catch!
Is anyone considering buying FB into earnings ?
@Ian – I’m tempted – we’ll see
Hey – how you looking on AAPL ?
Still in the weeklies – waiting for you and OA to give the okay to bail
Lucked out on some TEVA calls I had, so that helps.
Excellent job with your put spread
OA got out of the weeklies on Wednesday for a quarter, sir.
I grew tired of the anxiousness over it in my room yesterday. Didn’t want to rehash the same words for the 100th time, so I cut it. My way of throwing a temper tantrum. However, I begged for everyone else to stay in it. I do this at times to dodge the questions.
Aaah – missed that somewhere along the way.
will watch this run and see if I can get out somewhere decent – avg at 1.73
You still have a decent play with a 495/490 put spread. High probability trade and will net you 247. You have a LOT of clawback to do.
Something to consider.
Thank you both for your time and thoughts here! Extraordinarily educational
***COCAINE TRAIN LONG SET-UP COMING***
edge of my seat to board the train OA
longer they hold apple down..the bigger the POP…its coming
Ian, darwin: see my post up above…loaded to gills on aapl
VERY GOOD ACTION IN AAPL TODAY, STAIR CLIMBING
My portfolio rocketed up today. Days like this I am more confused than happy. It has always been a challenge for me to know whether I should be taking money off the table or riding on the freight train. OA, it would be awesome if you share your more than two cents on this topic.
When was the last time we had a market up 215 ?
Your point is…?
Make hay while the sun shines.
I sold my BBY spread at days high, even though I probably could have gotten more letting it run to next week.
Gotcha. My point is it is incredibly difficult to time when you know a next flush is going to come soon, but before that this freight train could go on and on. I suppose the lesson here is screw the timing and start taking profits until you come to a level in portfolio that you are comfortable riding along with.
MCP YOLO NOW WKLY 7 calls .23
which strike good sir?
dvaughn…7. Have been in too.
For those of us already holding, is this a signal to double down ?
followed w/ next week 7s
rising channel in AAPL. needs to get thru $492.60 then shes off.
aapl really acting well. believe OA would agree.
Sure would. Frustrated everyone at the open, still maintaining my outlook. Still boolish.
check out GSVC
first attempt @ $492.60 coming
AAPL Cheerleader Thread
A place for all us weekly (tomorrow) holders to hang out and collectively nail bite.
Stock touching 492.32 as I type this.
Went with AAPL next week calls earlier today. Too much anxiety to keep up with to go for this week calls, given multiple longs in portfolio
I hear ya.
I am so knee deep in AAPL that I had to play and manage what I had.
Feel free to read that as I had NO cash to put into next weeks weeklies, so I’m making my lemonade out of a mixture of lemons and tangerines.
OA will be happy to note that Street.com notices AAPL and thinks there is a play there today. Vertical call spread.
I should also add they were insistent on a 490/495/500 butterfly last week, which turned out sooooooo well /sarc.
One lesson learned from the last 10 day roller coaster ride is this:
If you hold quality and give yourself enough time, you can not only withstand market setbacks, but learn to relish them.
If yesterday had happened a month ago, you would be reading my obituary today from a self inflicted gunshot wound. But I KNEW in my heart my holdings were good and that I had over a week left to see an up market and really get max profit out of what I owned.
As OA says, “it’s a poker game”.
And Jeff, you’ve given us some really GREAT cards to play with.
Thank You
Algos heating up on AAPL, next level cometh $492.60, bears trying to defend
Could one of you green eyeshade type (ie good with charts) help me with these. I can’t make heads or tails of what I’m looking at with the apparent market spikes on the open.
APOL
MTW
Especially on MTW, the price/volume figures just don’t make sense to me.
Thx