Personally, I think the move that hurts the most here is a gap down tomorrow.
Each time the Russell has bottomed, it was not an event, it was a process. Last time the Russell bottomed in August, it had taken on a tone of relative strength (upward consolidation) where the SPX, DOW and NASDAQ sloped lower that week.
I liked how growth stocks didn’t follow the market lower yesterday, and with a small sell off at the open they did not follow the market to its lows. They’ve got to maintain that posture here, and the Russell needs to start outperforming soon to the upside (day to day comparisons).
The lowest reading I saw this morning in the $NYMO was -79. As you all know, that has been my go-to dip buy indicator most of my life. It’s rarely failed at telling me where there is limited downside in the tape.
If we open lower tomorrow, are you buying? If so, top pick?
If you enjoy the content at iBankCoin, please follow us on Twitter
I think you’re right OA. I think today’s action was what you thought would happen yesterday, and the gap down will happen tomorrow. I still really like LOCO and AMZN here.
$FSLR gets a boost from California’s solar power initiative
TUBE, DANG, BLOX, & YGE on the radar
since we didn’t gap down today, I wasn’t a buyer, but would be tomorrow on that type of move.
I would look at $GME again, $BYD, $FB, $JASO
have several positions on the table so may hold here for a bit. like the P idea, but not sure about timing. still, right on there fence there, may take a shot at it with a small-mid sized call. kors calls are kicking me in the pants a bit but have time.
FEYE AMZN P
top #kellersfellers pick today was SCTY yesterday
lol, love that avatar.
Haha, please tell us todays pick tomorrow.
I’m going all in.
darn… i should have listened to him today about yesterday. i always forget to do that.
just make sure to get the pick for today from him tomorrow
BRUCE! where y’at? need tomorrows pick for today, ASAP!
I said I wish I picked it, I had picked TSLA, which went up $5 immediately after getting it, but has been flat since. Nice reading comprehension. 😛
hahahahahahahahaha
Goog on a pullback tomorrow oa?
my guess is a continued ramp higher. i think a lot of people got short or went to cash.
Like they did back in 82?
ha wise ass. just because a chart similarity exists doesn’t mean it has to happen right? i’m up about 100 fold since the lows in 09 so i’m just playing it cautious and looking at all possible outcomes.
keep in mind in 81 the market ramped one last time before going into a slow grind lower so lets give it more than a day ok?
No, you just had a lot to say about it. Seemed like some conviction that was quickly overturned…that’s all.
No need to pump gains either. That doesn’t mean much…unless you want to measure with me.
You don’t want to measure with him.
i’d love to measure. pretty sure i can match up with anyone that only trades equities.
i never ever get married to any position / idea.
I bet there is a special place in finance for guys that can roll 100 fold.
Fuck’en Eh Right.
no fucking way this turd who cant even make a logical point is up 100 fold.
I’m sitting here patiently putting together my list – making my list, checking it twice. I’ll probably wait until Friday to actually put anything on though.
Z, though it doesn’t have much more room to go down. Might take it today.
what about a gap up that’s sold hard?
What about a gap down consolidation that gets bought up, but sold into a rally that fades?
I think we gap sideways
BWEN
I think the move that hurts the most here is when whoever took the other side of that “Buy NUGT” imbecile’s trade and has been riding him for the last 3 months decides to pull out. Ouchie.
brcd, mu
Biotech is the place to be. Money moving into the whole space. I have CELG but want MORE. I like JAZZ but it’s gone to far to chase, hoping for a pullback tomorrow.
ILMN?
I like it but it needs a bit more confirmation for me. I’m sure it’s right up your alley though with your sixth sense. I think this is the sector to watch as money seems to be rotating in. Momo stocks still not really participating…any concern that they have not lead in a while?
Not yet.
chiefton – do you follow PCRX at all? they have a pretty revolutionary drug that is basically making opioids irrelevant for post surgery pain.
I don’t but that’s a great looking chart.
OA
Do you like NFLX here, or is this a fake bounce?
Tomorrow on a lower to flat open…let’s do it.
That volume profile is pretty steller on ZU if it gets above $44ish
stellar
I was about to ask if the target is still $40 for this? It’s been grinding higher despite market weakness until rallying today on normal volume. Still lots of short interest makes me think it could keep moving…
SLB? GOGO looks like a shot but it hasn’t moved much in 6 months. on the right kind of pullback I may buy GOGO.
are you guys holding AKS anymore? been thinking about an entry point there.
I own from $6.
the next major volume pocket is at $14 right?
What do you think about GOOG here OA?
thx!
I bought calls yesterday. Timestamped, swear.
#kellersfellers
You posted it yesterday – I saw it
If many are under positioned, and or short, wouldn’t a gap and go higher hurt the most participants?
You know, there is an argument for any scenario I post on the pain topic. To be honest, I had little to talk about today. I think the dip buyers getting involved here would be quick to stop out, shorts would be quick to engage.
I can confirm as a piker that I was stopped out of 3 dip buys I made today for fear of the market turning. Damn it all.
I’m already balls deep in FEYE. I’m just waiting at this point.
Are your balls on FEYE?
they will be soon
MHR forming a nice hammer today after being gutted since the first of the month.
GWPH consolidating nicely on the 50 day…
NUGT boner
You are thicker than a lead fucking pipe.
You are the most resilient person I’ve ever encountered. You are like that partially digested frog, deep down into the bowels of a pelican saying…
Never give up.
You would think at SOME point there would be that moment of anguished apostasy, of throwing one’s hands up in the air, of pleading to one’s wife, or one’s image in the mirror, and begging, BEGGING to know, “What in GOD’S name am I DOING? What have I DONE? Can I just continue to be MUTILATED in the name of conviction?” But, no. There’s only the smug, blog-born “ribbit” of a tiny frog too dumb even to be digested.
“Nnn–UGT.”
OA…any thought on SEMI…spun out of SUNE
SUNE.
gross
Speaking of Pelican: NOR
China firing Central banker. People speculating that China will be opeing the QE gates. news came out around 11:00. Should be interesting to see if this sugar rush sticks.
Our markets crash on news like falling planes, not legitimate economic news.
the only news is the free printing machines all over the world are still in orgasm.
I’m knee deep up shit creek, I see peeps who piss fees till this shit bleeds. I get fees six-ty times the average pip-squeak, ya get me?
This creep named Dick B, used his big D to dig a hole six feet and bury me wherever he could stick me. I died, was revived and now I can fly like Pixy dust and combust spontaneously.
Cause fusses and cuss then shush em, tell em where to shove it for ever trying to nix me… A dozen haters tryin to bust in, I love em, inspiring my endeavors to eject he… Who must interfere here I rustle with muscle and clever enough to give them hexis or hexes, I vex sleazes in Texas, reject thesis, reckless.
How about these two charts. $CERS and $ZNGA. Like on both daily and 5 year weekly.
Of course ZU goes to $39 3 days after my $37 calls expire – held them for a month and 3 days later ZU blows da fuk up.
FWIW, ISE index reading over last few days has been very low (bullish). We may have a bit more downside but should be limited imo
ISE index link:
http://www.ise.com/market-data/isee-index/
BABA, to 100
OA, thoughts on a FEYE YOLO?
I just added LOCO to my list.
so strong, gap up??
hope so
Reckless…Inebriate myself with exes, relieviate myself on precious… metals… I dug shit from seas and dumped it on a nugget so you can fuggit… About it, fuck it… I’m fit without spouting my mouth no doubting my whereabouts when I’m out, roundhouse’d a kangaroo in his pouch,till the bout with Dan Fouts gets him knocked out, K.o’d… Uhh, right in his couch and told him to pick up his blouse…
Bitches, my time is now and the place is at your mommas, your girlfriends boyfriend is here… I bring the drama. I pack more punch than when Obama took Osama, bark of a pitbull terrier and the bite of pirranas. Spit metaphors scarier than the fight with sadaam was to his momma when we found him in a cave clusterfucked more than 62car pile up to a Honda.
I’m feisty.. I bring crisis/ quicker than Katrina and Isis/ combined with Pearl Harbor, 9/11&serial killers with a liscense/ to kill. I’m like a thousand cats to mices, for real.
This sucks.
Did this start out a rap?
Who are you kidding with that avatar?
Come to Vegas. Make it rain.
How many times have you used the same lines in your wraps:
“I bring the drama”
“Bitches, my time is now”
“when Obama took Osama”
You see? It does suck, doesn’t it.
Action Bronson’s now visiting OA’s page… this is big news!
Bought Oct calls in WYNN and DE . Looking for a pullback tomorrow in JAZZ to buy.
I’ve been long common shares of OAS, and will be for a while. However, I think it’s ready to make a big move to the upside.
OA, Thoughts on NMBL? Where’s your exit price?
OA,
Can you take a look at NMBL and CRTO in the after hours? I can’t attend, but I’m looking to move on from one to make room for another position. My gut says to stick with CRTO but I trust your gut a hell of a lot more!
OA covered your question about 25 min into the session.
Unusual volume in MDR … Shorts covering? Why?
Found the answer to my question …
With the financial and executive restructuring done, all they need to do is execute and grow the backlog. But other than shorts covering, this may have something to do with the unusual volume today …
http://www.bloomberg.com/news/2013-08-11/mcdermott-project-woes-creates-cheap-target-real-m-a.html
Been awhile since that was reported and the stock has gotten cheaper while the company stronger.
So the move in AMZN hurt me the most today – I was shook out at the lows (literally sold my Sep 330 calls at .50) and got to watch it rocket back up 10 points. A least my other positions got to take advantage of the melt up.
I’m not sure what to make of the comments in this thread, getting weird up in here.
FB if it holds $78
YHOO
Comments/riff raff getting weird up in here
this pre market selling is the most important move of the week. what happens here will dictate a lot for the next few days. I’m betting it gets bought but if not this could get nasty.
I could not agree more sir.
wow. Wretched open. Almost lost all of yesterdays gains. MOMOs getting hit hardest
Z looks good.
worst type of open. Not a gap down but a quick grind
In NFLX $460 weeklies Oct1
taking a shot buy NQ_F 4045.25
out -5. worth a try.
not worth it today. Bears in control. Yesterday was obviously just a dead cat bounce