Over the last several sessions, the best trade has been to avoid buying early, and wait til the afternoon to pick up a long.
I’m watching many of the names we discussed last night, namely YELP, SUNE and TWTR.
The $RUT is doing something a little different today as well. Last several sessions, it has led to the downside in about every probe lower. Today, it’s holding around its opening low, while everything else is trading beneath that same level. Subtle divergence, but a change of character, even if only temporary.
More later,
OA
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Yellen speaks today. That should be good for a big market pop. They may sell it tomorrow but I’m going to YOLO weeklies before the speech.
The weed basket was battered down on the heels of the PHOT halting, but it is shaping up to be a day of respite. The last 2 days probably offered some of the best entries in this space…certainly better than when I started some positions. Watch TRTC to see how it reacts at these levels. (the downside is if SEC finds something fishy with PHOT, it will probably spill over into the others again and bring them down).
fyi…fitx and rxnb have reportedly terminated their agreements with phot. it could be ugly if/when it opens trading again.
Did you see PHOT letter to shareholders?
I did read that letter and thought it sounded like they were on the up and up. Did you read it the same way?
Yes, I think they are a decent company in that field. I’ve been in my position for almost 2 years and I don’t plan on backing off it yet.
Yes, well written letter like the previous shareholder letters, much better than if they hadn’t said anything, which would be bad PR. I think their PR team/CEO is pretty good at exuding confidence, which is key. This might shape up to be a great buying opportunity…as they even mentioned in the letter there is likely to be a negative impact on shares when trading is resumed. This letter may have even been distributed prior to the news of some agreements being terminated, so if you throw that on top…it might even be a bigger pullback. So, I’ll refer back to the CANN model again…where shares dropped heavily on the day it resumed trading, then basically doubled in price and has risen considerably since then. That’s one possible outcome. You have to figure there will be plenty of people spooked at the idea of holding on to this, so it will see a drop. CANN today…40% gain
Took some IWM here. Liken it. Out of PCLN YOLO + 110%. Done for the day
Nice job Danny.
boring stocks doing fine: CTL, AGCO, DE,
Winners: BITA, ATHM
According to my math model.. We should hold today.. Maybe even go out on highs
I bought May SUNE calls.
added to yelp here, these things look ready to go.
why did my comment get erased?
What comment? Maybe you got flagged for spam.
Yellon is way over her head – she’s a joke
bot some SUNE calls, I went for the first week May.
$fcx starting to look really nice.
OA, last week FDX was a bearish idea, last night bullish, did you see something in the price action. Volume pocket that you don’t think will be traded thru, or low beta stock setting up triangle like the ones that break to the up side…pinch explode!
I think you can trade the move away from balance, in the direction it decides. The fact that the market melted lower, and FDX held firm had a more bullish tone to it.
Shorting IWM with both hands
bought nq futures 503.5
could be another late day charge. These momo have much more to go and hopefully will carry the market
right on cue: IWM falling apart. HUGE divergence.
…peaking head out of fox hole again…
Did a little scan for stocks less than $10, greater than 20% short:
SNTA – descending wedgie, with some success in the past on wedgies
CHNR – interesting chart, basing, any thoughts? OA?
ARNA – triangle
Then off my old watch list:
SQNM and PLUG looking better
PSUN if anybody felt like playing the possible bear trap bd from it’s triangle.
…sliding back into fox hole…
SNTA dam near o/s on the triple stoch too.
YGE – K4 calls are offered at $.45 – that’s not even $.20 of time value for a full month – that seems “cheap” to me
They are cheap as hell for a stock that moves like this.
FWIW, I’m in from $.30 from the other day
K4?
K = May
highs of the day would be lovely
out half NQ +10 holding the rest
In CSLT from 18.50… Think it can go to 24 in a short amount of time…
did we talk abt OAS in the energy discussion – i missed this setup, then again my screens are covered in energy today
I don’t think specifically…at least not lately…been in it since Feb, so glad it finally is gaining ground. NOV has generally been OAS on steroids.
specific to last 6 months, longer than that the win goes to OAS.
In TWTR @44 also…
yelp really strong, momo stocks look like they are going one at a time (as Jeff always says) i’m holding and see what tomorrow looks like, not getting greedy in this market is the main thing.
Sold my IWM for 120% just took some puts in GM @.91 May 30’s $33
Good work today
VXX is killing my profit margins. But made 200% on some small option plays. Only doing 1% on each Jeff.
$34 looks to be resistance on GM
love the set-up in JASO
+1
See some old yahoo message board types have decided to join us w/o avatars of coarse..a bottom must be in
buy $FCX 32.98
formergeek how do you set up an avatar?
Wasn’t referring to you chief lol! You’ve been posting reasoned thoughts, not emotional blather. Click on the w at the top of the page will lead you to setting up avatar
Oops couldn’t find the link till i clicked on chat for After Hours. There’s a settings link that asks if it’s time fir a new avatar
I’m sure UncleBuccs can find you a good avatar or 2 to use…or at least throw in the rotation.
yoshii11 & cheifton, I kinda like this guy: http://www.clubdead.tv/IndianChiefHead2.png
cheifton, get your Gravatar right here https://en.gravatar.com/site/signup/
looks battletested, and therefore..wise.
thanks yoshi11 and UncleBuccs. I’m all set and love the pic! I’ve been trading for about 10 yrs so I feel somewhat battle tested… I guess anyone thats made it that long is. My style of trading has changed a bunch over the years and I have to confess I don’t trade options only stocks and futures. I came here for numerous reasons and one is to learn options. I’m excited to be a part of the community!
like the pic and welcome to this little corner of the world
chiefton – looking like a boss….and welcome, btw. Looking forward to learning from you as well.
Wish I would have YOLO’d some GOGO weekly $17 calls at .05 yesterday – going to 1.00 today. I have some May 17s, should get something out of those.
nice turnaround this morning in the futures, I’ve put a sell order in for $69 on yelp. Not sure it gets there today but I’m out all morning.
Sold AMGN 45% on my calls. I ask myself is that even worth posting…lol
Bot BWP Calls for dirt cheap. Looking for it to gap fill to $19.
And bot May SUNE calls
All are 2% positions this time.
wondering if I should roll PLUG now or wait till end of day in case news hits.
I sold my calls right before that little spike at 2pm. Bastards!
shorting IWM with both hands for the cascade fall next week
buying NUGT for a measured move to 45
finally a winner 1st in a while Apr. NOV 77.50 in @ .9 out at $4.00
Great trade, bidder. Wow – so much for low beta, huh?
Was an OA pick several weeks back. Looks like might have sold a little early- but not complaining.
What price?
nice look on that BIOF the other night, minb boggling where thats coming from
Prepare yourselves for RMBS Rage!!!!lol
@ Uncle Bucks you seeing this bro….Broke $12 and going
OA, which option do you have SCTY ? Thanks.
bot SINA common a bit ago
I like sina here to. I might pick some up nearer to the close.
If Yelp breaks and closes below 63.8 I might bail. I’m not letting this turn into a loser. Hard to tell what the markets going to do here, it’s been a pretty solid run. Would be nice to see a couple of quiet days.
I see we are taking a much needed break from the rough seas. Added piece number 2 to TWTR today. Almost added to SINA on the brief pullback.
nothing much better than the weed play this week. If you haven’t gotten your longterm baskets in play, you should take some long hard looks at whats available now. Good for both long and short term trades…maybe wait to see what sets up next week, just in case its simply a 1-2 day bounce…but I think it will extend beyond that. I lowered my cost basis in SPLI today
I might also pick up some feye at the close if these momo names hang in there.