My burrito plays are exploding. I still have quite a few stocks that have paused in this stretch, but I am playing them with August expirys to help me sleep at night.
The KING has been slapped with a downgrade, but as luck would have it, wise men have used such opportunity to hoarde shares at a ridiculous discount. I’m not a seller of this just yet.
I still think this will be the type of starting point that creates a lasting move in the market, similar to what we walked through in the month of May. Don’t sleep on the opportunity here.
In the mean time….let’s bond a little. Tell me what you think about this market. Tell me your very best idea. Ask me a question…as long as it doesn’t pertain to whether or not I still like First Solar.
OA
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personal, most hated stock of trading career? flipside, most beloved stock to trade of all time, whether it was a one night stand or multiple dates, either way.
If the best is the collapse of the banks, then 2nd best?
ANGI is up there now. Check this out…
http://ibankcoin.com/option_addict/2014/03/27/making-my-list/
I hate trading restaurant stocks.
When did you first realize that, “Damn, I’m good enough to trade options and kick ass doing it?”
Not until 06. I feel everything I did prior to 06 was random. Now I trade with purpose.
I love biotech off the Yellen Bottom
PCYC exploded. too back options for this issue suck
Speaking of the King, do you like trading Wiggins and others for Love, or would you rather hold Wiggins long term?
if yours the cavs, you GOT to make that deal. Lebron is in a win now type mode.
Also, if you are minny, you GOT to make that deal because ur getting the #1 pick. you are not going to do better than this
win/win situation IMO
I want to see Love in a Warriors uni. But LeBron needs a big to get another ring. Love is the best that money can buy out there.
i’d rather have the wiggins deal, but i feel like if the warriors weren’t so reluctant to give up Klay Thompson, the deal would’ve been done already.
Love is a great player, but he’s not really a leader, and because of his antics this past year he has lost all support from the MN fans. so he’s got to go.
Yeah, can’t give up Klay in that deal. Period.
Yeah you can. You’re overvaluing Klay. Kevin Love’s PER is like 27 or something utterly ridiculous.
He plays D tho.
yeah… then THAT deal isn’t happening. at least that’s what i’m hearing on the radio.
when’s solar gonna run? 😉
The moment you are insolvent.
guess you have a lot of patience.
BE NICE TO ME BCHU!!! DON’T LET CHUB OUT OF HER CAGE.
which would you buy for a 3D play? ONVO or CIMT?
CIMT
The next HURC?
GPRO – but down.
Down? HURC and GPRO both up big.
HURC is a cnc machine tool company that popped on it’s new 3D tool. You think CIMT is a similar situation to that and will do likewise? I guess I’m not getting your GPRO reference ….
My bad…I thought you were asking what stock would move like this one. Last go round I would have said CAMT, but we nailed it. I’d go CIMT here.
Did you have any moment that you would/might quit trading because of big loss ? Or any experience you got depressed and stop trading for a while ? If so, how did you deal with ? Thanks.
Summer of 06 I went for professional help because my mind was a mess. I learned early to avoid the big loss.
Watched CAVM run away yesterday and was sad. Watched it tank today, which soothed my sadness.
My question: failed breakout or buying op?
Buying opp above 46
I asked it late in the other thread: How long into the week do you hold onto OTM weeklies if the strike looks almost out of reach? Killing myself for selling my NQ calls yesterday.
I can hold til Friday if the set-up is still valid.
Thanks. Thought the setup was rolling over late yesterday, then they released a PR overnight. Can’t chase it now.
James – take a couple of day’s off, hire a cheap motel room……,,, and get yo freak on with some nice 21’s.
” lasting move ” means how long, months or a year ? If you are expecting ” The Top”, when are you expecting it will be, 2015 or 2016 or ,,, ?
Like May was…several weeks to months. I don’t think longer than that.
I mean, I my brain doesn’t think beyond that.
Doing some retirement planning…how do you fit into my plan? More directly, do you foresee yourself blogging like this for the next 20 years or will you be retiring from the blogosphere sooner than that?
Even when I take on a more serious role in the money management field, I will blog. I trade better, I enjoy it, and I like seeing people getting better at this through a little help on my part.
This makes me very happy.
I bought DMD today, then it halted like 5 times? Just thought maybe it had bottomed. Any opinion?
Oh yeah and do you like FSLR here? 😉
Let it run.
Love FSLR
Thank you sir (tips hat)
Was just joshing about FSLR, agree though on the love.
Have a great day all.
I’m stuck on GLUU, pick up a little on the dip today.
I sold this waaaay to early. I bought the effing low though.
Forget GLUU– my best rec is WETF.
Do you have an aluminum play’s that you like for a long term trade? AA has gone too far, too fast.
We discussed ACH late last year. I recommended that AA back in July last year as well.
JMEI not participating in the burrito rally, bodes well for tomorrow I suppose right?
Most of the time it does, yes. Folks avoid it for the lack of participation, and it goes tomorrow without them.
Is it true iBC is looking to ipo this year to cash in while the market still has an appetitie for internet ipo’s? 🙂 truth be told, this market has been taxing this year. hoping to play the 2nd half better and finish strong.
If Fly still thinks this is 2000, we better apply now.
I think its 98, and we’ll IPO in 2016.
With the iBC dinner coming up, take us around the table. What are each of the participants drinking and eating?
This requires deep thought. Developing…
SUNE?
Sorry, can you elaborate?
SUNE’s uptrend has been breached. What’s your stop?
I don’t agree
It’s still in range, and it’s had three flat/down days in a row before. Doesn’t seem unusual yet. If it’s still here next week, though….
It’s right back at where we entered.
Learned a long time ago to draw trendlines with a crayon instead of a pencil. I try not to treat them as a precise measurement of pass/fail. I use alerts on breached trendlines as a way to prioritize what I watch throughout the day.
What’s the best trade you never had / just missed a fill in?
Tell you a recent sting of mine: That last KING move–missed out on 5k trying to save 40$.
Jeff, what do you think of CAMT here?
Thanks
Playable…but prefer CIMT soon. Hasn’t had the same pop yet.
What’s the first bubble you ever participated in, Beanie Babies or dot com stocks?
Tickle Me Elmo. Real talk.
Would TSLA be considered a level 4 stock? Have taken a position with 213 stop. Target of at least 240. whathu think mr. addict?
I was thinking 3…but totally subjective
Ideas I’m stalking here: UGAZ (or futures–I own Jan 15’s); SPLK; IFON; VNOM; and ARWR.
Added to JMEI here too.
TWTR is still your investment hold ? If so, are you seeing new high in a few year ?
I rarely take earnings gambles, but might make an exception for RRC. Selloff seems overdone and IV is low.
I’m going to trade X for earnings.
I bought some XONE here, with a tight leash under the weekly low. I can always buy back in, if it gets a bounce further below near the avg.
Did you have any other job before trader ?
Did your marriage/kids change your attitude toward trading/investment ? Thank you.
I applied for a broker position at Morgan Stanley in 97. Worked there til I learned the market. Worked on the options desk, got my licenses, etc.
Wife and kids made it more stressful…but my wife was a broker too, and was willing to work if needed.
Thanks OA. For me family comes first for everything, which is very stressful and make me defensive.
Likewise, Tom.
I am a true family man.
Agreed with your JMEI purchase yesterday. Pulling back but holding support. Still going higher?
Look at the lower time frame. A trend is starting.
Thanks, Jeff. Long both CIMT and CAMT.
What do you think is TSL and YOD here?
I like both.
love TSL.
Looking to add into JASO as well
BKS too elevated or possible candidate for a quick gain before earnings 8/19?
Jeff – where will you be in Vegas this weekend. Oh and I’m long ITM X calls to October, more of an IRA play.
E-mail me…I’ll be there til Tuesday.
Word.
Would would a more serious position in money management look like for you? You thinking of starting a fund?
I’ve had some folks contact me. I’ve thought it over a few times, but not entirely decided yet.
https://www.youtube.com/watch?v=c2glOppqBRg
http://imgur.com/aYmqpgT
With that many people preparing for doom, I dunno how doomy it can really be. Then again it feels like people are really bullish, so I don’t know WTF to think right now.
These people tho…
Talons
https://www.youtube.com/watch?v=Oyoc9rRSGl4
Back in DDD calls, Aug 56
And I bought $100 worth of TNA Aug 87s for a longshot.
Anyone like SGMO or CLDX here?
not with an option since its already moved up today.
CLDX I would have liked yesterday.. I’d never get anything that is already up 10%.. At least not today.
Both stocks look like they have 3-4 pts of upside so you wouldn’t buy Aug calls on a pullback?
On a pullback I would take CLDX.
Thnx!
buy NQ 3979.25
Sure starting to look like the EXEL spammer was looking for suckers to sell him cheap calls….maybe it’s Yellen herself!
Oh and OA have u seen that explosion finally in $ACH?
I saw…not a bad call.
$YZC could be next surprise.
YOKU- maybe tried to trap some bears and found a buyer today? Not selling yet.
Thoughts on an fxy break out into sept? Seasonality says stronger yen and 2q GDP comes out august 12th which has been downgraded a couple of times now.
Jeff, what’s your target on JMEI?
Thanks
OUt NQ +1.5 thought we might squeeze.
trying CLF into earnings. Bought AUG 18’s
Hi OA, was wondering about an entry range for FSPM , these guys seem to have a legitimate mmj/mj related business and I can imagine them branching out to local farms and such
LEJU
I own stock from the 11s. The stock is making new highs, what is the best way to manage it here? I moved my stop to around 12.75, but the retail investor in me wants to sell now.
IFON nice
I have some EGHT holdings…let’s see how bad it is this time around.
Looks good to me.
Die, ANGI, die you crackho you
+1. This betch is beating up my July numbers.
I need to get into biotech stuff with the quickness.
My small FB put got raped. Rally on. Should have listened more to OA / just stayed cash at least.
There was some initial panic…but the pro’s took over.
its biotech time for sure,,,the small guys ,,get yer basket full
XNET is this finally the bottom? Have you checked it out at all yet?
Deleted my stocktwits account. Time to rise like a phoenix out of this RUT.
A general question, since I am still trying to figure out the general approach (think I am getting there)- what would be the general breakdown between: (a) options that expire worthless; (b) options where you recover some premium but experience a capital loss; (c) (comparatively) modest gains in the 10-50% range; and (d) the major 100% plus winners? Thanks!
Great question…but I would need to ask you a series of questions first to help you decide on an approach. You can pick a style here to best suit you.
Added some Aug1 YELP 75s right before the close. It has yet to really participate like FB and LNKD have. Looking for it to get a boost from FB.
No one responded on Fly’s thread. What’s up with this shit?
http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html
Huge negative block trades EOD.
http://i.imgur.com/u62JnX9.png in case you’re clicking next day
Thats because these happen daily, weekly, monthly, and nobody cares. Remember all the big bearish option bets in the last year?
No. I was sadly digging myself out of poverty back then; so I have to admit I am kind of at a disadvantage. Last I played majorly I had so many calls at SPX 680 and I sold them at 720 and went bearish and I’ve been screwed up ever since. :\
You a descendant of Helen, by any chance?
Bruce, I’ll be the first to admit that the first few months with OA are like a detox period. That’s been my experience anyway. I’ve unlearned a lot of bad shit, most importantly how not to think like a complete retail rube.
The fact that you’ve been bearish for that long tells me that you’ve eaten up the “fundamental” story presented by the bears and thought it would affect stock prices. The most valuable thing I’ve learned is that fundamentals absolutely don’t matter until they do, and you’ll be able to see it coming via the various indicators pointed out by OA.
True true. The only thing that concerns me is that all the everyday people I know are starting to get into the stock market. I suppose that might have to go on for a few years. I guess it is the beginning. The thing that concerns me, is that this old SMART guy at work, used to be a VP of a major company etc, made like 25% this year from his money manager, just went super cautious and told me even if the market crashed he’d only lose 5%
That being said, I am full bull now! Tired of losing money this last week.
“fundamentals absolutely don’t matter until they do” – This is exactly why bears always lose. They are the smart ones, but time is not on their side. That’s why I got onboard with OA on options. I keep my position size small so I can still participate in this bull mkt. And if the plug gets pulled. I only have option premium to lose and I won’t be a long term bag holder.
“FUNDAMENTALS” IS A WORD USED BY SELLERS TO FIND BUYERS.
OA: going back to your X idea…X Aug 30s for a mere $0.26? I’d love to see this pullback a day or two though. The next reference point is all the way up around $40. The 29s aren’t bad either and could be had for a great deal on a pullback.
They report on 30th what about the Aug 1’s if you can get a cheap fill?
tna erectile functioning,,,wouldn’t want to be a tza’er…TF going to 1165ish
I guess the dynamic that I am wrestling with is that I am a gambler by nature and love the octane, but don’t feel comfortable being so risky with my savings. But that’s a good point. I guess you can get pretty flexible with strikes and expirations to create your own sweet spot. I am thinking that may be lower strikes with more conservative stops to control premium downside, but still navigating the waters a bit.
Yep, should have bought another week or 2 on the options that expired on me last week.
$FSLR looks so good.
Sarcasm?
that JMEI won’t pull back today, looking solid
yeeha!
jmei-cricket!