The fellas on CNBC are all over this BAC move today. Almost like they saw it coming. If BAC moves 4% in a day, which happens about as often as all the market tops they call, you’d probably feel pretty far behind the ball here. Especially being very underpositioned in financials.
Here’s a quick look at the charts we used to buy calls in BAC last week. Again, you’ll notice the theme here, and how it is recurring among most ideas I take risk in.
THIS IS AN INITIATIVE MOVE HERE, DAMMIT. This stock is just now approaching 09 highs. It’s nowhere near 07 highs. There is a massive void in between those two reference points where prices trend with the least resistance. Above $18 and this stock looks very, very nice.
Jeff – A couple of weeks ago you mentioned SFUN is your favorite China stock. Since then it has been kind of flat while LEJU is up huge. Do you think SFUN is going to follow suit? What about EJ?
Gracias amigo.
Oh shoot…one other thing: what are your thoughts on MMYT?
No take on MMYT. Try SIFY or REDF first.
SFUN is still my favorite. I owned LEJU when you had asked.
EJ is ok.
Why do you like SFUN better than EJ?
Because I think it will go up more.
So rather than options, why not the warrants (BAC.WS.A)?
I was thinking convertible preferred (BAC.PRL). 7.25%.
Ya mean this one?
http://finance.yahoo.com/q?s=bac-pl&ql=1
Haha!!!
In case anyone missed it … here’s the story that got GOGO hyped up;
http://www.runwaygirlnetwork.com/2014/08/20/could-verizon-and-att-compete-again-on-inflight-connectivity/
FD: I own stock but no options … yet.
Great fucking call on bac I loaded up at .10 and bought more at .09.
That has the potential to be a monster.
16.50 weeklies look good?
Jeff, followed your initial BAC call and bought 100 Sept 16 @.15. Great work.
Today’s move in SINA was a punch in the gut after yesterday’s buy. Still loving SODA to 40 with the quickness.
Patience.
I’m already improving on that after a few expensive lessons. thanks for the YELP 72 weeklies call … 400% winner.
That licensing issue with the Chinese government is a problem.
it would be nice to see a long tail in SINA today. otherwise my trade might be in trouble.
that being said… i’m looking to see how it reacts to the june consolidation range.
Sick call OA, but what else is new..
Hey don’t forget about PCLN around 1256. Stalking it.
MUST BE NICE TO BE RIGHT ALL THE TIME.
Must suck to never be right.
https://mobile.twitter.com/riskreversal/status/499655469188009984
Are you kidding? Ask anyone here. According to them, every trade I take is wrong.
He was quoting Dan for fun.
That was pretty funny.
SUNE insider huge selling. Time to sell ?
OA what do you think ?
very very nice call Jeff
“Because I think it will go up more.”
Do you care about the fundamentals? Like SFUN has no clear mobile strategy?
Fundamentals are words used by sellers to find buyers.
That’s hogwash. Technicals play a role but the fundamentals of a business are the most important thing for longer term moves.
Holy shit dude…then buy LEJU already.
Let me trade my stock that has no clear mobile strategy.
You do realize that fundamentals play ZERO role in the moves I catch, yes?
Not knowing the fundamentals will get you into situations like buying XIN at $6
One instance like that out of a hundred trades…I’m OK with that.
Good that not everyone is listening to you OA. When Jerry and your B-I-L start following, it will be market top time…
Longer term, fundamentals can be more important, however, haven’t you noticed that the trades presented here are not longer term? In the absence of a positive or negative change in fundamentals, what moves a stock? Seems to me OA has solved this and increased his net worth thereby.
Boss Jim Gettys – Maybe…except for the fact that I’ve been long since March 2009
I love and hate bac trades. The calls are so cheap but Fidelity has a 200 contract limit.
Hence, I only have 200 of the sept4 $16’s from .16 cents.
That may become an issue as your wealth grows… Maybe get additional accounts in the future.
Wow that’s too bad Matt. Why on Earth would they have such a policy. I wonder if it’s something they can exempt you from? IB has no limit to my knowledge.
in all honesty it rarely ever matters…the only time it’s been an issue has been both times the group has traded BAC calls. That’s why i did the sept4 instead of sept….it was an extra 2 cents so it helped the commission ratio. Otherwise commish on 14 cent options gets ridiculous.
Matt, is your expiration date on those weekies Sept 5 or 26?
sept4= week 4= sept 26th. it was only 2 cents for an extra week of theta and since i was already capped at 200 contracts felt like a no brainer.
I highly recommend 50 cent’s ice bucket challenge video calling out Floyd.
“if u could read one full page of a harry potter book… nigga”
he upted the stakes… now its the cat in the hat book on jimmy kimmel
should of went with loco
ROFFFL
Just a cautionary note – there is activity in Ukraine with the humanitarian convoy moving into Ukraine WITHOUT Red Cross monitors. This could result in some issues through the weekend, so consider that in today’s action. i am still very long, but will be shopping for a hedge heading into the close
Looks like there is pressure under the momentum stocks, just need the Yellen speech to start to determine the movement direction
Good lord, that VJET!
OA, what’s your thoughts on TWTR? I’ve never seen such a well known, high beta stock so quiet for so long. Explosive move or more of the same for next week?
I bought more shares yesterday.
All the iBC bloggers are great. When RC and OA noted the 3D duo (XONE and VJET) yesterday I pounced. I had been stalking VJET and was waiting. Both rocking today. Thanks, guys. Fine work as usual
Hmm, P. May dump the 28 weeklies expiring net week and pick up a one Sept monthly.
These CRM calls are swelling. I bought calls in N to piggy back this move.
Ibankers- what ya’ll think about UCO for a potential bounce play. Finviz is showing all oil and refiners setting up for a move. OA any view on UCO?
Got a crazy bullish signal in this on Monday.
how about dat GMCR i asked you about the other day, jeff? 😉
Good thing it was saved by news. It had to gap over that supply in order to rise.
it was wearing air pennys.
The 25th best shoe of all time.
You stompin in dem arrr force ones?
http://youtu.be/BfzsMQGqrt0
name the other 24 then asshole. 🙁
“Penny Lover”..kinda sad. http://youtu.be/tTMxyNSGoa4
I liked the way it was starting to set up on the low volume pullback and then the Aug7 volume came in so I passed, but nice one Mattbear. It is crushing and now at all time highs… Much to the chagrin of David Einhorn.
crazy to think that if anyone yolo’d $4500 of the 120 calls they would now be a million dollars.
holy FFFF!!!!
$SCTY looks like it is ready to chop off some extremities from the shorts….
Not quite ready
It may be a little bit crazy… But FEYE triple RSI oversold and near the do or die spot if this is “aversion”. I’m playing some Sept $29s…
any thoughts on GILD OA?
I had encouraged a long in this a couple weeks back. No way would I chase now though.
yeah i bought an option with $100 strike (sept 20 expiry) when it was at $90, should i sell now or let it run off a bit more?
Let it run!
what price did you buy the options at and what are they now?
The ZU is making a monkey out of me.
Take a stand.
test of times but in it to win it
Maybe a smaller position size won’t make you a monkey.
NKE is up on anticipation of OA’s post “top 25 shoes of all time” with the photo cover “my foot in your ass” By Dr. Seuss.
cmon OA give this CCIH a little nudge..put a 100k bid out there on EDGX
Sticking with the stocks way off of 2007 highs, like any shippers for an investment?
And can anyone tell me what the heck is up with YRCW’s 10 yr chart… Or even the 3yr chart… LOL that can’t be right, can it?
OA- thought on FSLR calls expiring next week? look cheap here