After having positioned large for this recent run up, I am not too wild on the idea of chasing too much stuff up. In fact, I have taken two new positions here in LNG (calls) and ARWR (stock). I have a few positions nearing price targets, such as FB, GS, P, and UA. However, I am looking for the remainder to extend their gains a little further this week, which include DECK, FSLR, JASO, SPWR, SUNE and WB.
My main objective today is to look for entry points in momentum stocks that have lagged. Or, to buy pullbacks in these types of stocks this week. Take YY as an example. Seeing that stock pull back after establishing a new swing high tells me that we’ll likely see that higher low in the context of the trend reversal patterns we discuss in After Hours with Option Addict.
These are the set-ups I will be looking for this week. Hopefully we can actively discuss a few later today for a Trade of the Week tomorrow or Wednesday.
OA
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Nothing sexy or abrupt, but my ol’ friend RMBS is singing a little Curtis Mayfield tune as it continues to follow it’s sentiment destiny… http://youtu.be/sTpZ_4_KhDU
OA I was thinking about puts on Z any thoughts given this recent runup
Puts on the strongest leader in this tape?
danny i took puts on NFLX near 400….
Up 12 out of 14 days – a contrarian would think something’s gotta give
Jeff, at some point TWTR has to come back to play. Thoughts?
It might be around the time Fly releases PPT 2.0.
ROFLMAO!
trying my hand at $TWTR knife catching today with some June (4th week) calls. trading with only the loose change i found in my couch.
Just buy 2016 TWTR leaps and put them away. FB based in the low 20’s and teens for about 4 months or so before it finally took off and tripled. My money is on TWTR doing the same thing.
too late… couch money has already been deployed.
yeah baby… fly little blue bird. fly!
chuck it up or i’ll hit you with two.
took the opportunity to load up on LNG too. thanks.
When does PPT 2.0 come out?
Fly said sometime after 2,100.
Jeff, is $DANG coiling up or is it just plain weak? I only know one thing – it’s at its established price maturity. TIA.
There is a trade in there. Most china stocks are weak today though. Perhaps tomorrow.
Love the location of PBR and WB right now…
Got out of the rest of $TNA at 71.5. Added a bit to $EDC at 29.1, and have smaller equal parts in $SDOW and $SQQQ.
Thanks Jeff. Controlling my impulsive behavior is always an objective I have to tackle.
Jeff, bought some Mobi in the 6s and sold at 7.61 going into what turned out to be a good ER. What do you think here for re-entry?
Under $7 I would get in too…
Sold out of my Z puts and jumped into AMZN. at $1.08 (315’s) seems like a little aversion before going full beast mode tomorrow.
Thanks for the trade Jeff. Earlier I just thought Z was overextended; had to come in a little. Just a day trade which I turned for 85%. Deck and UA are both doing well. I also took the LNG trade but did June 1’s not to much time. Hesitation Netflix looks like it could dip to $380…Looks nice I just look for a lower low or an extended RSI to buy some puts.
sold my NFLX puts, nice little profit and went long some DECK and WYNN calls
That extended RSI is on the 1 minute Chart just for entries. BTW
i’m in that wonderful spot where i’m still licking wounds and have missed most of this up day.
i’ve carried a weekly apple call option pretty much ALL year and the last 2 weeks, (the weeks i haven’t carried) I’ve missed enormous winners. Murphy’s law.
One or two good weeks of this will erase or redeem that drawdown.
You know how we do.
Picked up AFFY…same set-up as ARWR from this am
Jeff;
FEYE looks to be on a fast track to $40? Thinking about buying some $37 calls for June 1 or would you do this week. Don’t want to buy too much time
Matt; options are dirt cheap jump in the deep in. I’ll give you my banana floaty…lol
Which side are you favoring danny? Like individual names here, but RUT has had a nice 4 day bloop that might come in.
Oh yeah, good call whoever through out ARWR the other day!
Threw… jesus.
really strong market, I think the worry of a collapse has to be out the window for the time being. Any pullback should be bought IMO.
Picked up LPI
Got into June PBR calls. Looking at WB, LNG and hope to see FSLR under $60 this week to get into June or July calls.
The stock gods were shining brightly upon us today, however do not forget to sacrifice virgins in their honor or you will feel maximum pain tomorrow.
FB was among my leaders today. Continue to hold this week’s 60s and 64s (from dirt cheap) and next week’s 64s. Will be looking to take off this week’s calls tomorrow if we don’t bust strongly through $64.
ARWR arrrrr booked that sucker,,,kohler classic
fb score
short CL 104.12.
OA, what did you say you look for after a huge volume spike in a stock for a green light to open a new position?
The recent price action in SINA is what I’m looking at specifically.
Sold 1 of my 2 FB May 30 calls for 3.1 this morning from ~.75. Still holding all SPWR 32 May 30 calls and a single SUNE 19 June call. Long stock CYTR, PGNX, SNTA, and still riding DUST to 32. Other positisno as well like DDD Aug 75s & 80s and worthless June GOGO calls, MCP calls, JPM 57.5 I still believe in,
Thinly traded, but EPZM could move into the pocket above. WBAI sticking around, I think it looks good.
Taking some MOBI under 7 after a great ER and a pullback.
Btw does Nomura’s TWTR upgrade change your mind? Nice short term squeeze catalyst.
short NQ 3719
Sold half of my several SPWR 32 MAY 30 calls here. Travel day tomorrow and don’t want to risk the rug being pulled too badly!
at $1.50 for a double and riding rest for now.
out 1/2 CL +82.
out NQ -5. Pretty good day but looking for a at least a little pullback in the markets
out last 1/2 CL +1.35. I wanted to hold but it’s to good to pass up in one day.