Despite the fact that we’ve spent a ton of time in the last few weeks studying former market tops, one element to consider is market positioning during the process of market weakness.
For example, in the Great Social Media Bubble (not my take) of 2013, you wouldn’t hide in Social Media stocks for protection into a market correction. It would be like buying shares of CSCO, INTC, MSFT in Y2K to ride out market sell-offs.
You must be sitting there, in amazement, looking at how stocks like TWTR, FB, BIDU, FSLR, YGE, YELP, YOKU, P, LNKD (In other words, my book) are all trading higher today, while the rest of the market is selling off. This happens to most of the retail public to keep you from ever having an edge. They are doing their best to confuse you, transfer your money, and permanently remove you from this sport. I shed a tear each time I see this happen to you, because you could grind it out and master this game, but would rather get so close and turn away right at the worst possible time.
So act quickly. Sell off everything. Close what is left of your Zecco account. Cancel all your trading services. Run for the hills.
Myself? I’m sticking to my ongoing thesis, which is working like a charm today.
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Maverick: What’s your problem, Kazanski?
Iceman: You’re everyone’s problem. That’s because every time you go up in the air, you’re unsafe. I don’t like you because you’re dangerous.
Maverick: That’s right! Ice… man. I am dangerous.
😎
At least you didn’t post the volleyball scene.
arguably the best scene in cinematic history…arguably
its been a while… i can’t remember if they are wearing jorts in that scene, or full length jeans. If its the latter, that’s ridiculous.
+1
http://www.youtube.com/watch?v=_7HkG6OSo3E
DAAAAAAANGER ZONE
Forget Reaganomics, THIS is wealth distribution.
Zecco LOL
YGE on verge of brkout
Mental toughness is they key to this game. Every time one of my stocks sell off after great news, I imagine a syndicate of hedge funds forming like Voltron, with one goal- fleecing the retail public. Tough out their bullshit sell-offs and rewards are plentiful.
I might print this and post it on my desk.
Hahaha please do. This is my #1 trading heuristic FWIW, as well as FTW.
Sorry for my naivety, but how does this mental toughness go hand-in-hand with stop loss?
Personally depends on the stock/my outlook/analysis/gut feeling most of the time. With high beta names, I think too narrow of stops will be counterproductive, as they’ll get blown through quickly. Lotta things to consider for that question though.
Jeff any thoughts on QIHU Dec 13 wkls $90? Like it here.
I’m watching that too – could we spend a couple of minutes on this one in AH today ?
I’m in…like it here about to b/o
Like the stock, hate the spot.
VMW…finally. hope we can take out $85 next week.
Kudos on great positioning, OA!
Would it be better to chase your book, or go for the ones on your book that haven’t moved big yet ?
Thanks,
Out
Plan them into Jan from here, not Dec.
Speaking of retail, was anyone watching/expecting GIII today ?
YOLO Dec. calls on SWY, it’s trading down today.
Thoughts on your old IDRA trade moving forward?
Wowsers! didn’t even think to check that one today and it is up near 14%. between that, VMW, and CF, my account took off like a rocket ship today. days like these I want to lock ’em all down, but I’ll let some ride.
I never put in the stop. Pleasant surprise to say the least.
What was your entry on CF ?
Oct 30th, $2.24…shares not options…rode the elevator down on the 31st and took the stairs back up before today’s action. Overall, small gain for the position…but I was down more than I’d like to say.
i had written vmw off to option heaven. she awoke today. pleasant surprise.
You still in GURE LNKD and ODP? I don’t see them on your position list at tradingatticts.com
Yes, I do.
dip buy certainly confirmed on TWTR…i’m just worried the $50 calls were too ambitious. Obviously buying at the end of a 6% up day is not wise, but in wanting to manage out the trade, is it better to add funds via a lower strike, or go out in time? Like Dec 47’s?
Not ambitious…just early.
added very little TWTR 50 dec 27
Those aren’t real liquid, at the moment…
I still have JASO, YGE, CLF, WLT, APOL, FB calls that are down c’mon jesus
they should be down for a while. I have all those holdings with the exception of APOL. They closed at the same levels as what they were trading at when the market we at the lows. One wouldv’e expected these stocks to rally even more so as the market recovered
IDRA 21% for the day. Like OA said, most of his picks are winners given time.
What about TC?
Please elaborate.
Should TC be given more time?
TC looks broken to me. I closed mine today. $2.50 was my line in the sand
Anybody still holding C Dec calls? I don’t know if this stock can handle anymore downgrades.
I’m still in – past the point of no return…
X2
Got out early at .96
URRE on anyone’s radar?
I think Jeff mentioned it not too long ago. Looks ready.
I agree – it looks ready to move off that flag.
I’m in your same boat
What target price we are looing for YELP ?
JASO approaching bottom of the long channel….probably another good opportunity.
YGE ….. anyone .. anyone …. Bueller ….
What about it?
thoughts? cut at 4.90ish or let it ride?
I playing via Jan 5C
Jeff .. my $plug bet payin off .. i saw right even when it got another p.o. last month in septmb..
there were to much money involved in to support the uptrend .. news and boom +100% nearly
hope someone is in .. think this trend is long and going to grow long
bood, I got out for a 60% gain. Thank you for throwing the idea out there! Problem is, I got out for no reason other than I was up–stupid mistake. Lesson learned.
it’s good to sell on +60%..
i don’t have a big investment in , but could be looking to add here . profitability is around the corner and technology can widespread and evolve . good name could mantain the trend , will look forward into 2014 and development .
when ftlk turned the corner ..well many of you know about this memorable mr tropicana pick .
i bought JASO jan $10 calls for 65 cents.
this stock is so weak and worthless
disclaimer: I’m grumpy
done with APOL piece of shit
my my how COCO has fallen over the years…i remember when this thing was on the rise a long time ago. doesn’t look bad here for a bottom feed….what say you? ha ha
easy to manage
I noticed COCO a few days ago and thought the same thing as you – bottom feed – haven’t pulled the trigger though
if APOL doesn’t hold here at $25.20ish, then i’m out as well.
@autumnalcity – upon further inspection, you are correct, APOL is garbage
I’m livid because it cancelled out my TWTR gains
Shippers having a good day with The Fly on point. NM breakout. CELG popping, like the stock longterm, tough to enter here for short term. TMO near a buy point…either anticipate breakout or wait for a break of the channel down these past few days.
Sold PRGN @ 6.04, look a little toppy on 5 min, hourly and maybe even the daily. Took 10.8% for two month hold. (stock).
Nice…looks like it could run if pushed over $6 with strength. DSX right at resistance. I have some DEC calls that I may sell half and let the rest ride.
I was originally watching 6.25 to 6.30 but that was 2 months ago. Just moving on. But will keep an eye on it as well as BALT and a few others.
Have you driven a Ford Option lately…
Good god Twitter short squeeze is upon us.
Haha, oh lord have mercy.
OA, nice call on TWTR. Picked up some week 4 Dec calls for a buck this morning. I liked your thought process on this one. Great call
Jeff!!!!!
I fucking love you
Not in a gay way; in a you’re a cool stock pickr guy kinds way…hehehe
This TWTR, and the detail behind it, was a pretty insane call. Especially when the world was awash with #TWTRbears…lol
What’s your target on TWTR? I’m having a hard time not booking these gains.
i was happy that my aut order for lnkd 225 call got executed in the morning. should have waited till noon. one good thing, i am not kicking myself on missing out nor showing panic when it drops
Jeff
Do you think $expr will rebound after the holiday sales?
IEP is the king…. never mind all the stocks… AAPL up only 10 but IEP went up 25 with the same chart structure… Go Carl!
I’m not the only one getting slaughtered in these options am I? Glad there are a couple weeks until expiration..
Good thing you didn’t buy weekly options.
lnkd @ 5.90 now sold at 3.95 le sigh