As we near the upcoming holiday, I give thanks for the great feast of profits that have been available this year. It has been the easiest market I’ve encountered in the last 7 years, and I’m glad we’ve made some great strides to this point. I’ve made some great calls, and been able to navigate the turns better than most. However, I sit here, having reviewed a few thousand charts today, and feel like I did back in late September – the set-ups here are horrible, and all that remains of the market here are the giblets.
I looked for stocks to buy, looked for stocks to sell, and I got very little. My watchlist is down to maybe 10-12 ideas. Everything else out there doesn’t really look actionable, which means this could be a super slow week.
Watchlist: MNST, COF, F, WIX, SWKS, JAKK, NURO, GERN, PRAN, GSAT
In closing, let me say this: if you do not like the way you are currently positioned, do something about it. Nobody is forcing you to remain invested in a place that you prefer not to. Rather than complain, why not take action? It would be easier to engage in here if there were more actionable ideas being passed out over all the bitching, moaning, and complaining.
OA
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In the spirit of tis thread, my contribution to the group (I will follow on with specific stock suggestions):
5 Day Sector Performance Leaders
Conglomerates + 3.14%
Healthcare + 2.39%
(within the sector leaders are BioTech & Drugs, Healthcare Facilities).
Financial + 1.19%
(within the sector leaders are S&L’s, Insurance, Investment Services)
Solar with its placement in the Technology Semiconductor space:
-0.62% over 5 days, but +9.63% over 13 weeks.
Mr. lanforce, may I ask names of your holdings for short term and long ? Appreciate.
Right now I have the cream of the OA collection (APOL, C, CLF), my own pick (NOAH), and JASO through earnings.
Am considering an IBM short position and need to coin toss FSLR (thinking January options right now).
Long term (shares) holding: NOAH, BBY, FB (IPO shares), FSLR, SCHW
Thank you very much !
Oops – forgot also shares in CHK with a basis of 17.50.
If I had no positions, I’d be very tempted to buy YELP, FSLR, LNKD, GRPN here. Since I own them, I’m comfortable holding them know this. At least for another few minutes 🙂
haha. i like your list but i would recommend against getting into those. solar and social media are done for the year
BUT Complaining is soo much easier than holding one’s self accountable! lol I couldn’t agree more with the post. Everybody own your own trades…and stick your own neck out on some actionable ideas. Amen. (PSMT made a run, possible break to the upside in the making, but I’d tread carefully) Meanwhile GOOG kicking it higher.
i am thankful for your Citi group call.
You are thankful for more than that.
You will be thankful that the bear traps in Social stocks went off today, and even though you will thank me for these trades in the coming weeks, I will not be returning any calls.
i haven’t sold out, sir. I’m a patient and prudent bear. 17 trading days in the option world is an eternity.
I didn’t take the social stocks due to $$$ requirements, but it doesn’t mean I don’t believe in the logic of the trade – so I will program the “nyea nyea” keyboard shortcut for you…
I want the giblets, happy thanksgiving OA
You too bro.
Stocks by sector worth a look:
Conglomerates: AGI, BLMN, TXT, TYC, USNA
Healthcare: IPXL, NSTG, NVO, DVA, FMS, HMA, GSK, PFE
Financial: ACAS, AMTD, BX, ETFC, MS (on pullback), SCHW, UBS, UNG.
Admittedly on the financials, it’s hard to find liquid stocks that are not at/near their 52 week highs, but there may be a gem or two in there ripe for a new rip, or a reversal – or at least something to fall in love with.
One other thought – UAL continues to make everyones top 10 list in a sector that is doing quite well. For those that know me, I obviously can’t take a position there – but it might be worth scrutiny for a pullback.
If I ever get the chance to be a big time trader, I hope I am half the trader that you are today. Most of us would be lost without your input and hard work. THANK YOU!
I’m in a number of the trades as well- solar smorgasbord, C (Thank you OA!), RSH, WLT, CLF, APOL… plenty of time left.
Just in the FWIW column, I dumped WLT as did, I think, Option Addict. If you still have premium left, you might want to consider a graceful exit.
Would you be willing to elaborate on your WLT exit?
AMKR, ATHN and AA are my favorites right now. Still holding SWKS, TSL, C, JCOM, ALGN, and WLT. All of these are options that expire before Feb except for the AA calls.
Im up today 20%, but Im not holding any stocks – my account is 100% percent call options. Im still a kid so I can afford the risk.
OA – as soon as i got the dough I’m going to sign up for your services, which Im thinking will be very soon!
Currently up 290% on C calls, PT at $55. Thank you sir
-Sandwich, if you are new to the option thing, be sure close your trades before expiry if they are in the money!
yep, learn that the hard way… thanks steve