I’m not talking about an option trade here. Rather, I am talking about my shares of JDST.
Gold has entered the elevator shaft. Today was the first day of the move into the abyss below. Stop and think for a minute. You are up over 100% in this, and the move just started.
1180 is resistance if it even matters in the days ahead. We have a runner, so make sure you milk it as a way to get back some misfires from last month.
OA
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Did you mean 1080?
Nope.
Resistance is above, right? Maybe you are thinking support?
Ah yes. I’m thinking of resistance to my puts. 🙂
Sure ya were…LMAO
Had a load of GLD 115 Dec puts that I had to sell this morning. That move was too quick not to book. I agree that it’s going much lower.
Looking to reenter on a bounce, only near term support is 1125. It will be in the triple digits either before the year is out or in the first quarter of next year.
This is one of those trade it with extreme bias situations.
Gold bugs deserve this. They’ve earned it.
Lifetime achievement awards.
no gint jake
This reminds me that I need to rebuild my coin collection now that prices aren’t stupid anymore….I was told I was an idiot for selling off a good portion on it back in 2011
Triple leverage ETFs,now THAT takes me back to 2008.
Wonder what Glenn Beck is doing with all his?
http://www.gifbin.com/bin/052010/1272964790_glenn-beck-crying.gif
Nice trade Jeff. It’s amazing that at the nadir of the economic collapse gold was the anointed choice to “fight” QE and now after the US, Japan, and Europe continuing that path gold has been eating hot dogs off a rake. At this rate it looks like it could find technical support at $1000/oz and then maybe $700. I haven’t followed the supply/demand side of the fundamentals in a long time but many hands are going to get weak, especially if they’re holding tea party signs with their gold.
Interesting indeed! Another vehicle chosen to extract money from the public. Those continue to be the most interesting trades out there – wherever the general public is invested at extremes.
the OA pointed JDST over the center field wall, a la Babe Ruth in game 3 of the 1932 world series, and boom! hit it outta the park …. awesome
OA, what do you think about INXX…monthly chart?
I like the India trade.
Damn , QE might just work
Hi OA, let’s say I missed all the market move for a month, and holding all the investment port. What would you recommend to buy/add here at this price ?
Just follow my next trade.
Yes, Sir. I will follow your trade : ) Than you.
http://ibankcoin.com/hattery/2014/10/31/feel-the-weight-of-a-thousand-tonnes-of-gold-on-your-chest/
I am eying TRUE good spot.
Pricey options, though. If I do it, it will be a Nov 15. May take stock instead w/a target just under 22..
OMG, the sign is changing on the storefront across the street, it now reads, “WE SELL GOLD” lol
contemplating some COUP here, ahead of next Tuesday, fresh off GRPN earnings. apparently the 12.50’s are popular
1,400 block at $180 per = $252,000
that wasn’t me.
OA- Would it be too late to start a position (stock) in JDST ? let me know when you get a chance.
lol
Thanks.
Sorry man, I wanted you to buy this 115% ago.
maybe wait for a pullback and start a new position
OA…what do you think about CSOD again here
Wait for gold to test resistance.
Or is it time for some scalps on JNUG.
OA
Do you think this is the X-mas rally for the year?
I wish the market does not do a 3 digit day, for the rest of the year
Jeff,
Thank you for the JDST and for the heads up that we are finally in the volume pocket. I added some GLD puts on that news … now just waiting for Aunt Edna and the football coach to capitulate.
Jeff, I’m curious what you told the basketball coach to do. Did you say “the price of gold will go up when you sell yours?”
The first question he asked was…”What is QE?” Before asking about Gold. I think he was trying to understand why he owned it.
My $JMEi and $WUBA working for me, Still stalking $TRUE and still not sure…
Looks like 1996 might work as an analog too. Same idea. Set up a low, take out that low, reject new lows and slingshot higher.
http://3.bp.blogspot.com/-ocsmwauwS8E/VFPco739lwI/AAAAAAAAAbE/SRmcIAwZ3FM/s1600/analog.jpg
While your prognosticating abilities are being praised, I should also point out to the world that your call to sell the MBLY Yolo right at the open and not sit on it during the session was also perfect. Wish i had joined in of course.
OA
Do you like $NKE for puts here?
OA, epic call on gold. Calling it so long ago and getting it right is impressive. One of the best trades I’ve seen.
Thanks Chief, I appreciate that.
Keep watching and watching $JPEP $DSKY and $TRUE but that means I am getting too excited about this. Not buying anything and not going to watch anymore. Time to take a break.
Hi OA, do you think TWTR Is worth a shot down here? Thanks!
Take a look at the weekly and you tell him.
Did you see my post on TWTR this week?
took till the end of the day on Friday but got out of my GOOGL $560’s at my target for $8.20. Got in at $1.80.
nice little Halloween treat. thanks for the idea OA. have a good weekend.
Well done!
way to let the winner run! sounds like you’ll be handing out the King-sized candy bars…none of that bite size/fun sized stuff!!!
Great week y’all, let’s do it again and stick to precision entries, managing risk, bla bla bla, so we don’t get carried away with the wins and get careless. Happy Halloween.
yoshii… i got to protect my gains. 🙂
can’t be blowing all my money on full sized candy bars.
i’ll tell you what i won’t be doing. i won’t be handing out those shitty orange and brown wrappered peanut butter candy things. i always hated those as a kid. Those and almond joys were the worst.
i bet the kids that are walking around OA’s neighborhood are getting full size candy bars in addition to free Zecco accounts pre-loaded with a $500.
haha…yeah, there’s nothing wrong with the fun-sized candies…I’ve gone that route many times. My nieces skip their neighborhood to trick or treat at the grandparents…where some of them give out the full sized candy bars 🙂
I agree whole-heartedly on the orange and brown wrappered candies.
yoshii… i was pulling for the Royals!
American League Central represent! what an epic run they had. Very cool to watch.
Sorry, I’ve been away for a while and missed your post on TWTR?
http://ibankcoin.com/option_addict/2014/10/29/twitterpated-2/
everyone is short gold. bounced off a trendline . might catch some pants down on the upside here .
started a position in $jnug today
i meant on the downside ( some bears )
Thanks OA, happy Halloween!
Pain trade=consolidation. Don’t let anybody on this train for a week or 2 and then melt up into Thanksgiving. Slight pullback beginning of December then melt up into year end.
OA, is there something about MBLY chart you don’t like? Looks pretty to my inexperienced eyes. TIA
I own calls.
Was there a recorded webinar that took place today?
This intra-month reversal of over a 6% decline had less than a 1% chance of occurring according to historical performance of the market. This was the rarest of events. We may not see a month like this for 8-9 years at least.
Take a look at the returns going 1-6 months out after a reversal of this nature inside of a bull market. The returns are phenomenal. 4.5% on average is what we should expect for November, at the least.
http://jlfmi.tumblr.com/post/101266998520/largest-monthly-reversals-in-stock-market-history
Metals are still too expensive here. To gold bugs QE means “print money / high inflation” but actually it means low inflation / decent GDP. Right now we at 2.5% real growth, which bodes well for the market.
I’m looking for another +6% by the end of the year. And oil looks interesting down here, we’ll see.
thnx Quality – Dana Lyons just gave me the clarity I needed to make gold with the black gold,
http://jlfmi.tumblr.com/post/101083300790/smart-money-decreases-crude-oil-shorts-by-record-amount
That is a really good article. I stumbled across that guy via Jeff Macke on twitter. Apparently he’s full of useful info.
Just anecdotaly, I work in the oil & gas industry and I’ve heard of no plans to slow down at this point. There is a built in “put” on oil at a certain level here, probably closer to $75; that being the point where you may see some production cuts. Even below that I think you have a great deal of production still.
I’m definitely taking a hard look at the higher beta names for a trade soon, and some for investments. I like MHR to $6 soon. The breakout would occur by the 2nd week of November if the current wedge formation holds. I’m looking to get it closer to $4.40-$4.50 though.
HP(nov13/b), RIG(nov6/a), MHR (nov6/b)
— have turned into an earnings play option whore/horror with this volatility. I think we get a pull-in-da-bulls move up in oil then …I don’t know! I refer to this- http://ibankcoin.com/flyblog/2014/10/26/the-cheapest-oil-stocks-around/ for scalping, and PE is not waiting.
-my best calls now MYGN(thx OA) & MOS(all me)
-from Kanistan, where ponds of oilsands water wait to travel downstream.
Just curious , would one of you grizzled Wall Street veterans please explain to a novice why one would hold a JDST type instrument over the weekend ?
Riddle me this , what are the chances that GLD and its’ suddenly impoverished miner buddies weaken over a weekend . On the other hand many unfortunate circumstances can change the direction of gold in a Putin heartbeat .
Just curious and trying to learn from the masters of the ?????
Wait ,oooopppps , my bad . could this be
a VOLUME POCKET THINGY ????????
Because there is a little profit to risk?