I think its safe to say that we’re all in the same boat to one degree or another. This year has been complete shit, regardless of your stance, strategy, or personality. However, its the 9th inning and you MUST get on base here to not make this year a complete waste of time, brain power, energy and capital.
The market has made an interesting statement here in the last few weeks. In fact, how many of your favorite growth stocks have charts that look like the SPY? They trade like death, and today it felt as if those stocks were sold and the proceeds were moving over into other instruments that are more value oriented over growth.
This weekend, I am going to come up with a new index of stocks. The 2015 equivalent of the Nifty Fifty. This will be a core group of stocks that I focus on in the near term, with very few exceptions. Focus on quality for the next 6 weeks. Quality stocks, quality options, quality time frames, quality risk management. That’s the only way to close out the year on a quality note.
OA
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+1, gotta stay focused to close out the year, but I will welcome 2015 with open arms. mentally draining year-to-date.
where is dfsad now? rough afternoon for him. Those must be his feet in your pic
Year was amazing until the crash upwards. Think it caught many seriously off guard.
How do you feel about TWTR here OA?
Own stock and calls.
Between listening to Chess and being way too conservative I missed the recent V shape recovery. It seems like I also have a knack for missing out by inches. Stopped out of JDST yesterday at the low . I swear I have a knack for passing on all the OA picks that work and buying all the crap. I think today was the last straw I am about all blowed up.
I think everyone missed it! I really don`t know what bounced on that V shape recovery! Apple and Tesla never went down so they recover! Everything that went down is still down there!
+1
I didn’t miss it, but I’m not a degenerate gambler. I buy on dips and hold.
Day traders pay for their brokers’ kids Yale tuition and not to mention the tax mess at the end of the year.
Wise up and join the Bogle Brigade. And read Malkiel.
The problem with getting long ANYTHING up here is twofold. First and foremost, the sentiment is extremely frother with a high percentage of bulls vs. low percentage of bears. Everyone is bullish.
Secondly, there are now glaring negative divergences on the indices charts subsequent to the V bounce we have just experienced. In short (pun intended), going long up here is extremely dangerous.
Word.
The easy $$ has already been made…getting long at that recent V bottom.
Fo real doe. I feel you on dat.
Getting long what? WMT & GE? SPY? Not much resembles that V dude.
…not to mention the social media sector chart (SOCL) looks bearish here.
I’ve got a stack of 50’s ready for quality.
I thought DB asked for 20s
Tru dat
Jeff – I agree. This has been my strategy since March, other than trading YELP aggressively back in May. I’m completely focused on value. Been heavily in the auto stocks of late. Most of these high fliers need time to consolidate
Here’s my list of mostly quality stocks with decent setups IMO. Some decent stuff yet in semiconductors, retail, and hotels.
http://tinyurl.com/khuuewb
thanks for sharing, CALM is interesting…and while I’m not playing FL, i’ll be watching earnings reaction…if I had to guess, I’d say it trades north of 60.
Bot Dec INTC 35s this morning. PNRA would probably be my next quality pick.
Damn it missed that Qihu short looks like plenty of downside though may jump in tomorrow
You think QIHU doesn’t beat earnings? You’re prepared to be short through the earnings release?
Jeff, what type of covered call strategy do you use, if ever? Quality name, 1 strike out of the money, let it get called away if up, buy back short call/let expire at support, exit both sides if it breaks support? Just curious how you’d do it?
Next time you are live, let’s chat about it. I have a full blown tutorial on TA.
While I agree that the Social Media stocks have been murder much of the year. I wanted to point out at a different view. Look at the SOCL from a 3 year chart. 2012 was all consolidation until the 2013 breakout magic. We’ve been consolidating sideways between this years March high and May low in a pattern that we typically look for in our stock trades. The apex of this consolidation is a couple months away at most… So be cautious, but don’t take them off your radar just yet.
This makes this look like a bad knife to catch:
goo.gl/jk5s07
long Oil here CL
I predict dfasd will be showing up this morning
although flirting with pockets, these 2 need a little bit more of a push XCO, XEC…they’re locked and loaded, so if anybody wants to help push them up, I’d appreciate it. Thank you.
So far so good Russell came down and buyers defended that 1450 area. Lets see if it holds. Got some QIHU puts as my primary hedge. Both TWTR and FB moving in a correlated fashsion. TWTR looking stronger than FB by a little.
Jeff your Thesis seems to be looking right so far. And if we all remember the last TWTR trade we had; I remember how frustrated folks were becoming because it hadn’t gone North. Then just when the frustration peaked…And people started leaving the position BOOM a DOUBLE
YOU MUST OWN RETAIL.
Heres to hoping we don’t start to FADE today. This move in BABA is also promising talk about a rejection of the 20 day.
Just out of my last set of CLDX calls. Top 3 trade of the year. Thanks, OA!
@Chiefton I can’t possibly own anymore LULU than I do now. It’s like 7% of my portfolio…lol
Need some more upside confirmation in TWTR