I’ve been waiting too long for this.
The weight of small caps on the market will make an important move here today. Future generations will look back on this day and applaud the Russell 2000 for finally taking a stand, and allowing the rest of the market to flourish and release it’s built up pressure.
As most volatility indicators are predicting, this should be a big move. With short interest at 2011 levels, be cautious here as things could get fast.
Me? I’ve built up several positions over the last several days, putting myself in the front row for all of this. With significant opportunity at stake here, I’m positioned to rebound from this year’s financial mayhem quickly.
Wishing you all the best out there.
Top Picks: FB, FSLR, JASO, P, BIDU, AMZN, SUNE.
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Long a couple FB 60.5 May 30 calls here.
Indeud
OA, how you like my $TSL pick from a few days ago as one of the best?? gave the whole sector quite a boost today.
Wait, I thought the TAN was going to implode today?
Haha, right? I started building a position in $TSL on the longterm aversion thesis.
Thinking about JASO for that as well.
Yeah? $JASO’s aversion looks kinda flat to my untrained eyes. I started $SOL on the same thesis.
so you think short tan and long tsl is a loser trade? ok, i’m wrong then
Bchu, don’t be mad. I’ve been saying solar is a buy. Nobody trades into earnings, I was just responding to your TAN lower remarks yesterday. Horrible spot to call lower.
Nice call on those of you that took the $TSL trade. Smokin Day.
Is chub and bdchu the same person?
Whoops. I thought that was known.
Maybe that was why he copped a ‘tude.
Long IWM weeklys since last fri morning with the same outlook. Fslr looks good here, but can’t really play it with short term options and this environment doesn’t seem to reward buying three months out. Thoughts, beside long term stock investor like yourself?
We’ve been using weekly options to trade all this. Don’t buy time you won’t use.
Playing low beta till volatility comes in, maybe when TAN or Fslr makes that higher low.
Smart.
Several stocks are slowly confirming this set-up…good to start slowly.
I’m assuming this market turnaround if it takes place will happen over the course of a couple weeks / months. Is your plan to continue to use short dated (weekly) options and play individual setups each week? Or are you going to take some relatively longer term (1 mo +)option positions? My thinking is to wait for some confirmation that the bleeding has stopped and then go longer dated…although this week’s batch of weekly options panned out in a big way.
Unless I am looking at a bigger move over time. I bought JULY JASO today, as an example. I have longer dated calls in SUNE, FSLR, etc.
https://www.youtube.com/watch?v=-xZiyzbWH6E
Sold BIDU 160’s for + 456%. TY Jeff seems profit is finally reflecting price movement
Cheaper options! The ONLY way to buy ’em.
no one knows what to do! Has to be a decent move coming one way or the other before the end of the day.
Too funny. What if we do this for another week…
I am very green today but I don’t feel good about it as in my anxiety level is thru the roof and has been for months, slowly building. wow.
I added to SCO, my only dog. Have calls in FB SUNE SINA and P still.
looney short a couple weekly puts in NFLX
Lol! This is funny, you can almost feel the struggle. Someone take the reins!
Shorted CL 104.03.
this 3630 area on the NQ is huge. Its the top of the left shoulder and really my line in the sand to get bullish. Would like to see a big push through on volume.
I always look at the market at 10:30, 12:30 and 2:30 as possible pivot points. We appear (fingers crossed) to be holding and looking to close higher. Cover in May and go away? The fade trade have left many to scarred to get aggressively long. We normally would have seen a robust counter trend rally by now.
Raul did some great profiling on this range, and we appear to be accepting higher prices.
thanks for the shout out OA, prices unseen since the beginning of April.
agree w above, the RUT looks like its getting pushed around without the support of the underlying constituents, which act like theyre catching bids. SWC says Putin land grab hedge
You can tell OA is getting a bit perky by his picture choice…
Yesterday I saw MY as a possible trade mentioned here and went with it. Paid off big time. Thanks.
Anytime.
Sold WDC puts +42% tired of it flapping around
$soda is in a price range for a while with low vol….is it a buy or to early and wait a bit longer ?
It’s a great stock to be watching for a squeeze.
i cant be mad at a chart like ARII either
i’ve never seen bears pushing hard ( volumes ) during this ,let’s call it “correction”
Look at FB pushing up against that short-term resistance line.
OA, man you have been steady and patient through the chop. You can watch the boards here and get a good gauge on sentiment (less traffic and more bearish – the fly’s board is incredibly bearish). Waiting for the bounce with all the coattail shorts has been taxing to say the least. Hopefully, the counter trend rally for high beta starts today and had legs. Cover in May and go away (so the rest if us can climb back)
not sure what to make of this action. It feels like the big hitters have already left for the long weekend. The action is so slow for such a critical point in the market. Going to hold the CL overnight and see what tomorrow has in store.
Higher comments in OA threads=bullish.
Love it YELP didn’t participate today great buy in $59 yolos for .60
I took that trade a little bit ago. Love it.
Booked BIDU for 425%. Love it.
400%ers everywhere….lol
nice trade.
definitely worth a YOLO. took the YELP $59’s as well
Great call on the YELP yolo!
Deciding whether to hold the FB, AMZN, GS yolo’s into expiration tomorrow or take the gains and run. It’s been a while since I’ve booked some good wins. Took partial profits on GS already. Looking strong into the close though.
wow, i spent all day thinking yesterday was thursday…i need a vacation.
Cover. Run for cover. Let the counter trend be your friend.
for the record, i don’t know who user name bdchu is as some have claimed we are the same person
Oh, weird. Name is registered under your email address.
Awesome.
if it is, i never use it so not sure how people would know about it. i’d be interested in seeing a post from him
oh, r u talking about the after hours? maybe that’s it. my bad
https://www.youtube.com/watch?v=C4Rwil9xiPA
+1. dohhh
Buuusted. LMFO
LOL!! Cue that sad trombone!! https://www.youtube.com/watch?v=tKdcjJoXeEY
This made me laugh out loud.
SUNE FB on board BIDU real nice…
CBS keep an eye on it
I like FB for a big push here since there are some astute buyers waiting for higher prices. You know, the ole buy high, sell low trade. I’m of course referring to morons on Stocktwits saying they’d buy FB, but not until it trades above $64 “because I need confirmation it’ll hold $60 this time.” Confirmation shmonfirmation. This really made me laugh. How about buying at $58.50 instead clown?
So we have a buyer at $64! I can be a friend to you stocktwits clowns, and oh by the way I have an option contract I can sell you.
Quality – if I were short (I’m not), I’d be strongly anxious about covering $FB before the weekend. Thurs/Fri could be entertaining…
I think we’re set up for a couple of eye opening days in the market, including FB. It won’t take much buying pressure to start a squeeze IMO with the holiday weekend coming (I just don’t see huge selling risk with many fund managers who would normally be looking to dump issues out of the office).
I’ve read and heard a few people talking about the vix indicating complacency amongst the bulls, but you know what, I haven’t been complacent. No one inside Jeff’s chat room has been complacent. In fact, if anything I’ve seen panic over the last few months from many that used to frequent this blog.
Now are we feeling a little more comfortable the last week or so? Sure, but I don’t think anyone is taking anything for granted.
If anything, I see complacency amongst the bears. They have been shorting the rips like clockwork as if we’re in an established bear market. The pullbacks have been aligned almost perfectly with the trend line in the RUT. Every single pullback looks mechanical and yes, contrived. To me it has been one big churn so buy programs could churn everyone out and accumulate the best issues at lower prices.
I wholeheartedly believe the bears are about to get ripped a new one the likes of which we will compare to October 2011. If you’ll recall the SPX gained over 10% in a single month. When the bears short against the trend line, 200 day, or whatever else they’re using and stocks continue higher despite it all, it’s ballgame for the bears and we enter returning confidence mode. Like Jeff has said, the opportunity is right here, right now.
“The Most Hated Rally In History” continues to live up to it’s name… VIX doesn’t show it, but like you described, there is plenty of fear & anxiety on both sides.
Can’t wait for that VIX washout so we can buy options oh so cheap. The returns could be astronomical on short dated OTM options at a VIX of say 9.
@Quality +1
Haha, love the avatar EBG.
gold is really coiled up on the daily. There is a big move coming but unfortunately I don;t know which way.
out CL flat
really quiet pre market action. Looking like a slow couple of days going into the weekend.
Interesting little graphic in relation to projected growth in specific emerging markets (including India) from the World Economic Forum https://twitter.com/davos/status/469426379810148352/photo/1/large
wynn and yelp huge wins.
booked FB. why not.