The volume in the SPY has gotta compare to holiday half-day trading volumes. Apparently, not many are hankering to buy the breakout.
All I really have here in terms of commentary, is that a failed breakout would at least trigger something fast to the downside. Stocks in the last two days have still managed to show good dispersion, even within the high-beta and growth names everyone is watching.
A few more days of this type of action and we will have slowly sailed into summer grind mode. Continue to stay focused on individual stocks.
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Jeff, if you had to, which index would you hedge with?
IWM/QQQ. The stuff that’s going down.
would you include YY as a short candidate as well?
Same trade, yep.
the IWM is causing major problems in the market. It has to find a footing before anything positive happens
Stopped out of my TNA call mid morning. But that MCP 3 put wokring fine.
this could get ugly. The NQ broke support. Next level I see is 3570.
Did you see how the RUT didn’t extend its lows with the NQ, YM, or ES?
Remember that divergence scenario we discussed last night?
also stopped out of rest of my SVXY 70 weeklies this AM. Looked at taking a UVXY call but too expensive.
time to pick up those FSLR calls, OA? getting awefully close to $60
Where did FSLR close?
$61.89
No. Ask me another $1.89 lower…
It’s under $60… How about now?
Looks like I’ll be buying puts tomorrow in anticipation of the pop n drop scenario. Especially in the IWM andQQQ
Why tomorrow? What pop?
ugh, watching all my positions reverse is demoralizing then see VIPS
OA, any chance the new saying could be “cover in May and go away”. For the high betas that were systematically decimated since March there really has been no counter trend rally. Thanks
Very constructive way to view this.
It’s better than what my good friend told me, whom I hold in the highest regard for market scenarios that confuse me.
He told me “Sell in May and go ____ yourself.”
I don’t see that on my sentiment chart…
I think for many of us who were trying to buy dips in those names that (go —- yourself) already happened.
When we had the January dip in the major averages while the four horsemen et al. were running. Now that is reversed with high levels of apathy on both sides of the tape to quote Chess. No reversal moves. Go figure
short 1 TF
long 1 ES
SPY only thing going up consistently in this market. dip buying mode to no end
short NQ 3598
out 1/2 +9.5
closing the other half before the 830 data…to unpredictable. +4.75
short again 3592.75
out -1.25
Feels like something is going to crack soon. Buyers better step up in the IWM. Kicking myself for selling that NQ
That was an ugly start to the day
Solar getting bitch slapped. Here’s ur $60 buy target for fslr
my buy limit just hit. I am in.
this market sucks. but buy the fear.
One bright spot is that the Russell isn’t being the 3x ETF for the SPY today. It’s only a double.
Russell blew the 1090 support. Crash coming
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mkay
Between this and the market, this is certainly clearer.
This market is loose and can wipe people out. I would wait and see what the afternoon looks like before going long.
Yeah,. don’t go long yet til you see evidence of a big buyer.
Short any bounce
non localized ionized transmittor.
unauthorized transmittance from the oncogene detected
clearing free radials and preparing for discharge
prepare the transitor to redirect the electrons. commencing.
purify the cells and cleanse. mission complete, tragedy averted.
FSLR at $59ish.
Stuck in a 3 day work conference. Haven’t done anything all week.
Trend support, my indicator nearly all oversold. Good stock.
Picked up a couple 80 leaps. IV is low.
How much more sideways action would you need to see before you take interest in AAPL?
For a quick trade, or something else?
quick trade
Closed SPY yolo puts for 240%…. Closed QQQ’s for 180% shoulda held longer. Selling into this selloff
I just received an ‘oversold’ email on my celled-phone from the PPT. Surely the gods are growing bored of grinding my bones into silt…?
I feel that oversold signals works mostly on etfs. Hardly in individual stocks
I sold the other half of $EDC this morning at 28.71 and just put a quarter back on at 28.31.
Jeff- can you alert when FSLR officially creates a buy signal? Only armed with my iPhone so can’t see your indicator. I’m looking to re-buy the ones I sold last month, and purchase more of jan 2015 calls.
Absolutely.
Are you looking for shares or calls?
Took the WDC puts lovin that trade