Despite a great fill, I can’t hold this overnight.
What’s killing me, is NONE of this is being reflected in all these asshole stocks we trade. VIX exploding, market waterfalling, and all these shit stocks are holding their lows this week.
Kill me.
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Thank Yellen for jawboning biotech and small caps. Just stupid.
Head up OA! Back to the lab and start anew next week!
best post you’ve made all day. and how can it be a ‘great fill’ when you’re getting buried in it? Way to cut your losses short – and believe me, they would have been much worse
did that make you feel better? back on topic, why are you thinking you should have bought NUGT, when you could have bought USU or BLFS!!! (see what I did there? Anybody can do what you just did and criticize or kick somebody when they stick their neck out and make a pick for all to see).
point being, everyone that posts is open to criticism, myself included, but there’s a tactful way to go about doing it. carry on.
I gave him a sincere compliment on realizing a mistake and cutting his losses quickly. This tape is tired. This is the wrong time to consider TNA
I would totally respect this opinion had you not given it literally 100 times last year.
I can now imagine how you felt all year last year, getting gorilla raped every month.
Cheers.
I made 14% last year and am up 19% YTD. and with much less volatility than you I would bet.
You lie…
Even at 14%, if you had just taken the S&P, you would have made 30%….
Rape is relative friend-o
Yeah I’m flat…risk management is key through this mess. TNA is down a dollar from where my stop triggered.
this has become a case in which i wish i had waited a couple of days before taking the positions i have, because my entire portfolio is red.
Hayy derr OA, dis marquet iz brokt! Itch a Rigg game!! U shud hav assed-ked Einhorn to teech u da poker so u cud make mo’ monies since the marr ket is goin ta hell an takin err one’s moneys along wid-it!!
(grabs head screaming until it explodes)
If it were reversed and it were breaking out to teh upside through teh upper BB, we would be staying long. Definitely think getting out here as it blows through lower BB is the right move. I would think continuation to the downside.
A bit early but outside month possible
bot amzn 355 yolo at 1.10
PCLN broke down hard, YELP making new low, FSLR broke down lower, /TF broke and heading lower….TSLA decent though.
DDD looks ok as well
that turd FUEL seems to have a hard line drawn @ $22. we’ll see.
amazing with this drop p/c ratio still < 1 today.
Trend change is coming; the garbage small cap/social media 10000 PE stocks that worked last year are about to get the paper shreader.
I’d argue the smart money already made the money on shorting ANGI,SPLK,FEYE,etc midway through last year and have moved on.
Kinda a perfect storm this week with Yellen, plane shoot down, Israel-Gaza-Hamas war
yes it is, but that helps support OA because major tops don’t happen “clean” like that.
wholeheartedly agree -we will have an interesting next week, but I still like the plays I have heading into August, although I did unload my YELP calls, though
end of day breadth grid.
http://ibankcoin.com/hattery/files/2014/07/breadth-7-17.jpg
Good stuff there. Thanks for sharing~
I am beginning to realize that OA’s portfolio is kind of like a 3x momo ETF. Nothing wrong with that, works super great when things are booming up. Just not the place to be when things get a trifle bearish.
Not exactly, but position size dictates this. I choose many positions at smaller sizes as opposed to fewer positions with larger size.
gnat- i second that. OA is great during a good market breath. On downdays/pain days, his strategy can get dangerous.
You should listen to me explain this style when it comes to equity curve and drawdowns. It’s controllable, and puts me out in front of the pack quickly when I get the turns right.
but- OA continues to be a good educator or charting/market analysis. The world is not perfect.
anyone having a hard time logging into afterhours with OA?
Yep I can’t get in either.
Well in this case, much like April, position sizing doesn’t matter because the entire round of call purchases are smoked.
Futes continuing lower after hours.
Super frustrating tape this past 2 weeks.
Hindsight is 20/20 but would you rather have 12 positions at 1%, 7 at 2%, 5 at 3% or 4 at 4% right now?
Right now is exactly why position size does matter.
I think the bigger issue is actually expiry cycle risk. Lots of stuff expiring this week, so having rough market conditions will make it a lot worse for most than if it happened a week after July expiry. You could have positioned size light and still really have felt draw down just as if you had positioned sized more aggressively on less sensitive timing. Today’s and last weeks action excluding AMZN make much to virtually all of your July contracts worthless, where as if it happened next week instead you’d have cashed in your chips and the August paper would have plenty of premium to salvage and some potential to bounce and recover.
I might be alone, but I took the contrarian view that there will be something of a green spike tomorrow, and an opportunity to sell our relatively strong positions. As always time is the enemy, but I’m taking the fact that everyone is bearish to hold a few calls into tomorrow.
May the odds be ever in our favour.
Conserve your energies OA, ff (aka. fuck face ) is a sad individual, requiring special “help”. Your strategies have delivered great returns, a looser like FF can only dream of – indeud.
Peace.
Maybe it’s time to consign “loose” to the dustbin. Invariably mistakenly substituted for “lose” and hardly ever needed for its own meaning.
I was the little bitch that bottom ticked the futures. You’re all welcome.
Crazy day. I’m going to be looking long in the morning for a trade in the NQ. I think we have a quick move coming (maybe a couple of day) and if it’s a nice bounce I will be shorting this thing hard.
This is going to sound nuts but IMO the NQ can sell off 200-300pts and still be in a nice uptrend! Since April we have gone up 500pts without any meaningful pullback.
The problem with going up in a straight line is the pullback is usually fast and how you knock out a large group of market participators. All speculation but it’s how I’m going to trade it.
Went long RUSS at EOM. Those rubles are gonna tank.
YOLO’d TNA 73C for tomorrow. See you in hell !!
Wouldn’t it be something if the bottom got put in overnight. NQ futures screaming higher. Fingers crossed for some good fortune tomorrow.
Was in the trading room all day and watched the AHWOA video but now after dinner and a couple glasses of wine I could set emotions aside and look at charts.
With the exception of a couple of charts, (out of over 100 in my watch list) there are very few that I wouldn’t feel confident in buying right here, right now.
A surprise considering just how apocalyptic today felt.
It’s funny but I went through every single emotion you could think of today. I ended the day pretty much pissed off and cursed the stupid stock market.
I watched the AHWOA video and actually felt a bit more optimism, but still generally pissed at this airplane BS. Then after seeing the NQ futures bottom I’m now a little less pissed off.
I feel optimism about tomorrow that I’m convinced is hopeless and will only be met with more selling, for this is all we know for 2 weeks straight now.
I believe these emotions have been felt by many a trader today. If we get just the least bit of a bounce to stick tomorrow I think we could see confidence start to snowball a bit and have a really nice trend day. I feel this might happen because my emotions are telling me otherwise. It’s just a weird feeling that I can’t explain.
QCI, that’s much of what I felt yesterday too. Right there with ya.
By the way, look at April 1-April 12 on the /TF. We experienced a steady decline similar to this one and we bottomed on April 12 only to spend the next 10 days retracing roughly 50% of the decline. If today was the equivalent of April 12 then the next week to 10 days could be a great opportunity. In fact, I think we’ve sold off even harder this time around. It feels like it anyway.
Hey OA. Way to come through last night to calm the ship. 30 min after a shit day that ended with a heckler, you handled yourself well and calmed some nerves. Let’s have a good day.
Today looks pretty green
Might be a trap. I’m probably not doing much today.
It’s a trap! (funnel your inner Admiral Ackbar)
couldn’t find a good entry this morning. They bought it up after the drop AH. Very interesting day with it being a Friday etc. Gap up after a big sell off usually gets faded. I’m positioned long so hoping we get a trend day!
opex friday. i expect some good spikes to cap off this crazy week.
Leading the cheers for YELP, PANW, P and ZNGA today….
XONE too….
and SUNE – Terra Form IPO looks like a great catalyst for today
I wonder how many puts expiring today were bought yesterday expecting more carnage?
Short this silly spike. RUT has a date with 109
FINISH HIM
Fatality, Brutality, or Babality, sensei? 🙂
Animality
http://thekoalition.com/images/2011/09/mk3.jpg
???
Thanks, I bought TNA
When does TERP start trading?
I guess now. Nice
IWM reclaimed and tested lower BB at open. Good start. Considering entry.
Next week’s DDD calls.
anyone looking at CYOU?