iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,847 Blog Posts

X MARKS THE SPOT

For those that read this not long ago, this was truly one of the most remarkable calls of the year.

Not only based on the fact that the stock hit such a lofty price target of mine when there were zero expectations for this stock just over a month ago, but the way it traded to my price target. Both my longs in steel (purchased AKS back in May) have marched higher nearly every single day. For those that have followed me into this, I have been planning for this move in steel stocks since 2011.

The X calls I purchased were nearly 1000% at expiration, but I decided to exercise the options and take delivery of the shares with a cost basis of $28 per share. With any luck, X rings the $40 register today, effectively making this one of my top predictions of 2014.

I could take the time to enlighten you on other great stuff we have going on here, but you likely already know. I bought September calls in AWAY this morning, and am watching ONVO, TXTR, RNG and TRIP.

Good Day, Sir…

OA

 

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164 comments

  1. dazedflip

    Great call OA. I wasn’t in the steel names but I was impressed with your call and how you helped so many of the members here crush it in those names!

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  2. dazedflip

    I’ve been watching RNG for a few weeks. I’m long the name already but I think above 13.91 it should be popping.

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  3. matt_bear

    outside reversal day candle in TWTR so far. needs help otherwise might be time to close out. (for the win of course)

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  4. Raul3

    I went w/TRIP, ForTheRip

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  5. Bruce Keller

    Wow the mighty AAPL down 3%!

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    • only

      Whoa. Makes me feel better about selling my shares last week.

      I decided there wasn’t a clear upside beyond $100 and that money would be better used elsewhere, then got pissed when it spent the next few days ticking up, slowly but surely.

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  6. djmarcus

    Hey OA — any update on your FEYE position? Looks good still, but the velocity in the name is a bit troublesome

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    • Bruce Keller

      I’m no expert but I’d personally be out if it drops under 32 but I’d have been out after it went from 2% to -2% in like 2 seconds.

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    • Option Addict

      Stocks that trend away from a breakout…if they take out prior days high and don’t take out the low – trend in tact.

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  7. only

    Bruce posts at 11:22, it tags $31.90 at 11:28.

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  8. hattery

    What do you think of something like NGHC?

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  9. jessiej

    Everything is losing steam so fast…

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  10. jon

    where are those comments?

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  11. ncsutrader

    QIHU puking. I like it.

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  12. jessiej

    Sold $GOOGL at $593 today tempted to buy it back

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  13. trung

    GOOGL dying. Any thoughts?

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  14. dfasd

    Free pick: buy NUGT

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  15. lplongo

    Says the guy who couldn’t spare his right hand to create an account name. What were you going, anyway?

    $QIHU maybe near-term oversold, aversion anyone?

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  16. jessiej

    $AWAY ~0.875 33’s buy nasdaq kekee

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  17. charlie

    FSLR doing work

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  18. cashmoney

    OA- Nasdaq names are taking a hit. Sign to be defensive with the top picks, especially nasdaq ones like lulu, away, tsla etc. Whats ur view?

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  19. matt_bear

    all these hit pieces about apple….it’s because they want your shares.

    Apple is not done. Samsung makes gimmicky crap but Apple is staying high end and professional. They’re positioning themselves into the healthcare world and it’s going to make for excellent returns in the long run.

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    • jessiej

      Have you ever owned a Samsung Note 3 or Galaxy S5? They are fairly high quality, fast, and efficient cell phones…. The resolution is insane and so is the camera. The new wave of Android wear devices sure helps to increase their premium phone market share too. No doubt AAPL will sell millions of iPhone 6 but the gap is closing up… something to think about.

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    • only

      You’re talking about the company that rolled out a bunch of “new” phones that were actually the old phone, but now in candy colors, right?

      Don’t get me wrong — I like my ipad. But I can’t send an email that has a PDF, a JPG, and a DOC all as attachments to the same message. Stuff like that greatly limits AAPL’s usefulness in a professional environment.

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    • Trent

      +1

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    • frog

      u aint jumpin around like a monkey today is u

      stupid

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    • AAPL to a Trillion
      AAPL to a Trillion

      patience, going to 175 in the next few years.

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  20. jessiej

    Yup never trading $PCLN again.

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  21. Raul3

    http://youtu.be/fGx6K90TmCI

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  22. mr

    Hi Jeff, why Shares ? Are you seeing further UP in the stock ?

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  23. bonobo smores

    Joined the part with a little $P, so to speak

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  24. frog

    ROFL new lows in lulu

    I will let this motherfucker go to 0

    watch me

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    • UncleBuccs

      frog – are you short $LULU?? (serious q). If not, what do you have cooking today?

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    • Noni Kavuri

      LULU was going great until that analyst downgrade. I just took a ETF position in TZA. funny feeling about this market right now.

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      • UncleBuccs

        Noni – matching the LULU daily starting in April against the Sentiment Cycle, today looks like it could totally be the depths of Aversion.

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  25. jessiej

    I was thinking bout $MBLY puts, in retrospect mmm maybe not….

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  26. cheifton15

    Picked up some GC_F this morning 1267.5 I may add an AMZN short at the close which I hope doesn’t pull a BIDU on me!

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  27. yoshii11

    It’s justin BIIBer time again. picking up Sep calls to start. Hoping to see 341 hold, otherwise might add at 340 if it looks like it will bounce quickly from there.

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  28. cheifton15

    There’s a weird feel to the market today. Not sure which side to play?

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    • UncleBuccs

      chiefton, do you still have your fleet of tankers? There’s somewhat of a trendline that starts in late May that both NAT & TNK are pretty close to resting on.. Doesn’t look like too bad a spot, here. 5yr vol profile on the shipping etf SEA is very interesting…

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      • cheifton15

        Yeah still have them. They look so good on the long term chart so I’m going to give them a longer leash but I’m a pretty impatient person! Are you in either of them?

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        • UncleBuccs

          chiefton, I’m a NAT man. It’s shown up on a PPT accumulation screener I run quite often since early June for me. Something is a brewing…

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  29. mickeyp

    OA still holding googl 590 weeklies ?

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  30. linmoo

    Today sucks.

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    • UncleBuccs

      linmoo, did you buy anything? NQ is looking super coiled..

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      • linmoo

        Bought AWAY and TEVA just before the midday pop. Traded NQ a few times for a small profit. All depends on PR. I think it will stay coiled longer than people think.

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  31. cheifton15

    Bought Sept puts in AMZN.

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    • fryguy

      love it. may join you

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    • Bruce Keller

      Hello AMZN put buddy.

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    • Bruce Keller

      Oh crap… I thought my chart looked like it could be near the bottom of the channel but I was figuring doom and gloom would make it fall though, Pre-Market says otherwise. Doh.

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  32. azulgrana

    ive gott pull this damn CCIH scab off, its killing me. its got until Ali baba and thats it

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  33. fryguy

    I bot some more $SLV calls today. Oct $19 strike

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  34. matt_bear

    googl yolo 592.50’s. because IDGAF

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  35. Missy

    Hi OA what do you think of the chart of natural gas /ng?

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  36. hesitation

    I own a bunch of VEEV sept 30 calls.

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    • lol

      I owned a bunch of August VEEV $25 calls…
      oops, guess I should have rolled those to September!!

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  37. Quality Control Inferno
    Quality Control Inferno

    Today was a strange day in the market. That about all I could take away from it. Some momo stocks ripped while others got crushed. The market wasn’t particularly fast. My best guess is profit taking ahead of news events tomorrow.

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  38. mr

    Hi Jeff,

    Please have a look at TSL .. Looks like it has lot of upside ..

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  39. jersee

    I’m gonna take a stab at some 82.50 calls for .36

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  40. MRBIG

    None of the internet foggers , oops bloggers(sorry,my backspace doesn’t work) touting MBLY going into earnings ??
    Good , increases my confidence .

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  41. superpositron

    I took profits on X too early. Ive promised myself now to hold tight and let winners keep winning.

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  42. lplongo

    Looks like one of our trade of the week stocks is going to open lower and provide a good entry if it can hold. Limit order in.

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    • matt_bear

      i went sept4’s just cuz i had too much sept paper. extra week is like my binky.

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  43. budh

    bot TOTW, both plays

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  44. only

    Geez…. you’re supposed to be waiting for the bat signal.

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  45. al

    Strategy question: I’m holding DANG calls that are currently worth 25% of what I paid for them. Do I sell to reinvest the remaining value or hold and hope for a comeback?

    I let too many options expire worthless and need to get better about recovering premium when a trade is “broken”.

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    • only

      I sold my DANG 15s when it broke out to the bottom last Thurs. It was consolidating and trying to pick direction, but went the wrong way, so I salvaged some premium.

      Your position might be a little different, but it has helped me tremendously to establish what the parameters of the trade are before I get into it. If my plan breaks, I get out of the trade.

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    • lol

      Or risk a lower amount to begin with so you don’t lose as much

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      • al

        I’m fine if I lose all of it.. but saving 25% can make a big difference in the long.

        Only’s point is correct, but I was away from the computer and had no chance to sell when it broke trend as it shot to $14.

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        • only

          Yeah, I’ve gotten screwed on that a couple of times, too. I’ve been meaning to experiment with stop-losses. It looks like I can set it up to trigger on a price point of the underlying security, then just sell at market. It’s not an ideal situation, but it might mean salvaging more premium and not having to babysit as much.

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  46. Option Addict

    TRIP is on.

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  47. only

    Morgan Stanley put a $60 PT on $X? WTF… I was planning on waiting for $42-44, but that’s got me thinking I should wait and see how it behaves once it gets up there.

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  48. Ari

    I’m totally tripping balls

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  49. budh

    ONVO looks like a dump.

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  50. matt_bear

    closed out googl yolo’s. double tapped with 590’s and 592.50’s in 48 hours. extra helping of profit.

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  51. lplongo

    Sold my $TFM Dec 30 call just now… but I think it was a mistake.

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    • yoshii11

      I’ve done something similar with AAPL calls before…bought long dated, then changed my mind after a good run and sold, thinking it would pull back anyway…which it did, but then it continued to run. You could also sell front month calls against your position when you think it is peaking, but you can’t expect to bank a lot of coin selling the premium…that said, it helps some if you plan to hold the longer dated calls.

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  52. crownroyal

    OA, Thoughts of SFUN price target, holding Sept calls.

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  53. linmoo

    OA, are you staying out of ONVO based on this morning’s small move?

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  54. lplongo

    Going to trade my $AMBA Sept 30 for an Oct 40 I think.

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    • lplongo

      Earnings after close and that takes a gain but keeps me in it with an “if I am right I am right and if I am wrong less risked”. Earningswhispers predicts a beat so why not.

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  55. cheifton15

    Totally wrong on a couple of shorts this week but lesson learned. I like DRYS here and the shippers in general look good.

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  56. azulgrana

    this DATA caught an upgrade this morning, generally i dont give a rats ass about those, but looking at the vol profile, above 70 and this thing goes

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  57. Bruce Keller

    Fuck it bought another TSLA put just now. Still mad I biased my chart reading with doominess. Never gonna try to predict a channel break again!

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  58. Formergeek

    Can’t believe my YGE purchase right b4 earnings now in the green

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  59. matt_bear

    jeff- CSOD setting up?

    might go for the hat trick and do 597.50’s on googl.

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  60. ncsutrader

    Hey Jeff, I’m watching DECK today. You got any thoughts on this one?

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  61. jessiej

    bought the feye dip

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  62. matt_bear

    X marks the spot for XNET today.

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  63. cashmoney

    I think my post got deleted. But here it goes again. OA- seeing a price target 1 of 34 and then 200ma which is 36 for one of your trades- AWAY. Do you agree with the targets? Plz advice

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  64. fryguy15

    $WB – volume coming in. Let’s go!

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  65. yoshii11

    BONA for the 4-play? (ok, was really thinking of this as a 5, but I couldn’t resist). meanwhile, NOAH back to taking a rip. In hindsight, the location at 15 was ideal for an easy move to 16, I just wasn’t tracking it closely.

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  66. matt_bear

    yolo part 2. googl 597.50’s. risking 1/3rd of this mornings profit.

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  67. Bruce Keller

    Alright I think I am cooling it a week until I get a new account with 60 days free trading. TSLA punished me and AMZN punished me the most for thinking it’d brake its channel’s bottom. Ugh.

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    • yoshii11

      chin up, bro. can’t get ’em all right. I got blasted in a BIIB entry from yesterday. It happens. It’s fun having you around here.

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  68. Rao

    OA can we try PCLN again ?

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  69. UncleBuccs

    Looks like the Joan Rivers news was more than the market could handle…

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  70. linmoo

    Damn ONVO. I had high hopes for you.

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  71. frog

    yelp yolo anyone?

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  72. frog

    loco options pricing in 15-20% jump tn

    not gonna happen ?

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  73. dfasd

    small caps getting obliterated

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  74. frog

    wynn yolo

    see ya’ll homos tmorrow

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  75. lplongo

    CYOU is a f’n pos

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  76. hesitation

    Tick was alarming today. Did it print almost a negative 1900? That’s pretty out there. I have iwm puts and nflx puts to hedge.

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  77. chiefton15

    Just listened to AH and I agree with your gold/silver analysis. I was wrong on this and sold my long exposure in this space earlier in the day. I’m leaving it alone for now but it does feel like a flush may happen. I also sold my energy stocks and managed to escape about flat on average over the last 2 weeks. I really cleaned my book up today as it helps me get a fresh look at the market. I did keep the shorts on though.( AMZN BIDU DANG). I’ve been guilty of over trading the last 2 weeks in this chop but I’ve hit the reset button and ready to go!

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  78. matt_bear

    Hat trick completed on weekly GOOGL.

    flipped 590’s, 592.50’s, and 597.5’s in a 3 day succession all over triple digit gains. Compounded Leverage….the crack version of his cocaine world.

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  79. J Livermore

    $IFON leading this market higher…YES !!!

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  80. matt_bear

    Jeff- i know you preach letting winners run but how do you handle a situation like FEYE? Got the entry, it was up 400%, and now down to around 50% up. I would hate to let a winner turn into a loser.

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    • Option Addict

      $29.70 needs to hold here. I did the same.

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    • only

      That’s something I’m struggling with lately — I appreciate the point of needing big winners in this style of trading, but with all the chop lately, small wins have slowly turned into smaller wins or even losses. Tough to offset the inevitable losses from trades that don’t develop or break down and get cut.

      BAC is in the same boat right now.

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  81. parlintrader

    Jeff, do you suggest PCLN for next week ?

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