The swift sell-off in stocks this morning offers up some pretty attractive prices for the weeks ahead.
I’ll be watching the Russell into this weakness, as an indicator to the markets appetite for risk. Should the Russell demonstrate any relative strength this afternoon, I’ll take that as an indicator to initiate a couple positions later today.
I’m currently watching SPLK, FEYE, and FSLR.
If Gold prices hold 1200 again, we’ll be looking at a few miners to short later today in After Hours with Option Addict.
More later,
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
time to short.
tsla going to 0
Jeff thoughts on PEGI? Like the YieldCos and this sell off in oil may be creating an opportunity…
Haven’t followed it much, but man that TERP is trading so very well.
granpa – you’ll probably think I’m a limp dick for waiting till this morning, but picked up Dec. 44 KO puts @ .42 …. and couldn’t resist FEYE w/ some Dec 32.50’s @ .74 – both very small lunch money plays.
Best of luck to you Unc. Rooting for you even if I don’t make it back to 41 and change.
OA, since becoming a registered Broker/Dealer, my firm is requiring me to liquidate all my outside holdings. Of those holdings is ARWR and VSLR, both of which im sort of …. bag holding. Do you recommend just cutting these now considering i’ve got to close it out by Feb 1?
Maybe ARWR, but I’m trying to build a long term position in VSLR. Thinking of adding to it here. Were you in this for long term?
VSLR was long term when i bought it but since then, I’ve found out I will have to close my account on Jan 31, 2015. So although I was in VSLR long term, kind of up a creek without a paddle now. ARWR looks to not have any news till March, so should i just cut the cord here? Thinking it might drift lower until then and would hate to sell out of nothing more than the date… VSLR, not so much sure as where itll be by that time. Could drift lower too. What do you recommend best course of action is here considering I can’t hold either long enough to rebound completely? Thanks OA, been pressing this issue a while.
I still don’t quite get the valuation of VSLR. The space is competitive as it is, does it make sense to go after VSLR when you can get SPWR at 15-20X forward earnings?
Can we jump on the JDST train instead of individual miner shorts?
I played a JDST call perfectly last week and didn’t see much for it. If you want JDST that bad, play stock.
You can only hold it a few days. The decay will kill you.
Is YELP a buy here?
Value is doing well today. The auto stocks are holding up nicely. I still think FCAU makes a huge run with the Ferrari IPO. I believe Ferrari gets a $10 to $15 Billion valuation. All of FCAU is worth $15 Billion so the rest of the company (doing $120-130 Billion in sales and $2-$4 Billion in net inc by 2016) is only worth $0 to $5 Bill if I’m right about Ferrari.
Two things you make abundantly clear-
You don’t get the VSLR valuation.
You like Ferrari.
Ok I’ll refrain from mentioning things that are working
No, no…it’s just that you’ve written those same words in twenty different posts.
Look these things have been working man. I’m not focusing on stuff like YELP / TWTR / etc because they’re not working. Value is in play now, especially stocks in the auto sector and europe.
I don’t know, man. This move in the Russell reminds me of the early July and mid-September selloffs. Growth stocks are hammered again. I may hit the sidelines until 2015.
OA- I know you are more of a short term trader, but FSLR looks fairly bearish on weekly time frames. I start off with weekly for confirmation of a trend then go into daily to manage entry/exits. What are your thoughts
I totally disagree. This is my most bullish long term chart out there.
Look at today’s action.
LOL, did you think I’m not looking?
Anyone managed to cut the loss in time in $FMSA? That’s the only thing I got out of 12631 audit.
Say what?
$CLR is going to be $LEH of the oil shake out. Stay out of the way.
Is YELP a buy?
ask me again in 10 years
I’ve trade YELP a few times (2x successfully, last week unsuccessfully) and this seems like a low risk entry but the one underlying concern I have is GOOGL squeezing them out. Their business is centered around local search and GOOGL is still the king of search. They’re the gateway. Look at the evolution of the local carousel that GOOGL has put together. They have stepped up their game tremendously.
If you can get comfortable with them being successful at competing with GOOGL then its a home run because local search mkt is huge.
Jeff,
Your have lost your touch:
Yelp, googl, nflx, twtr, baba, what else in this famous basket, they all suck….
Sorry to say that
lol
I forgot to add gpro, pcln, lnkd, they suck too…
Sounds like its been an easy market for you?
Well, I picked from that basket googl, yelp, twtr, baba, lnkd, gpro
You can call it easy…
Lot of jealous petty people out there
Jealous of what? I am writing that, because I am losing money on these trades, I do not think Jeff is doing better with the very same stocks he owns.
For one thing, he doesn’t owe you anything. For another, have you looked at the charts of those stocks? Lower lows and lower highs tend to lead to what? Higher prices? Lol. Many of these have broken support, so trying to catch a falling knife gets you what typically happens to gamblers. BALT wasn’t menioned, but that’s a key example in why you don’t buy until evidence that the trend has reversed is in. It broke support and is now in freefall until it isn’t. Oversold becomes really oversold becomes super oversold becomes extremely oversold becomes, hey now it’s going up – did you wait to buy?
This sell off in risk stocks / Russell is not just a pull back right?
Jeff – you always say that when you come in one day and those stocks are all down much much more than the overall market, it’s a change in sentiment right
After all that small talk from folks about gold last night, what now? Gold now at 1207.
Jeff, does your short term view on gold and gold miners only hold if we get back to 1200? Seems pretty convincingly over that level now
Topping markets will chop you to shreds until the trend becomes decisively lower. What appeared to be the Mother of All Bull Markets has turned into a major top similar to 2000 / 2001 when technology shares peaked. Jeff will get his swing back once he switches tactics to the bear camp…
Love the non avatar posters with their cute ever changing names they add so much
as opposed to your value I guess. What’s wrong with asking about previously discussed/mentioned thesis?
Who’s this? Chub? Bchub? Somebody pretending to be bchu? Sounds like bchu
yup
In a biblical red sea i’m wallowing in my only actual stock position is little shit POETF and it’s up 13%.Likely to pop further when more news comes out. BLOX and LOCK trying to hold .FEYE showing some life.
bot me some $BABA calls, sold my $TGT calls for 10X profit.
OA, “TWTR CFO sold majority of shares” concern you ? or noise ? Do you still like as long hold ? Thanks.
also bot calls in $PSX, $GILD and $AAPL
This rally in Gold is the biggest bunch of BS I’ve seen this year. The dollar is a multi-year highs, the yen and Euro at multi-year lows, the metal has been consistently rejected as a major reserve component, and interest rates are going higher next year. A $70 swing in two days chops everyone to death.
I give up – I have no idea what gold is going to do.
1220 was my initial guess for a short entry, but now I think this has to consolidate a bit. This is an Ebola outbreak type of move.
While I do not pretend that today is a great day for my book… Is anybody else noticing that the Russell still has a higher low from a few weeks ago? But by reading the comments on this page you would think we’re down the rabbit hole already…
Also for those interested… GLD filled it’s open gap down on the Daily chart today for those that follow gap theories and such…
Gaps often are where the volume pockets exist so i always look for them
It actualy hit a lower high and now at a higher high above the importance resistance levels that’s been discussed on this blog. So I guess hard to argue against bullish gold for now
LULU is setting up to be the last best trade of 2014
dropped for 2 weeks ahead of last earnings too.. general market decline is hiding its good earnings
but IV is at the highs it usually tops out at
we made money last time and IV dropped hard… dont want to get raped by IV this time
Utilities are rocking.
the carnage under the surface is undeniable.
forget the gold fiasco….misdirection
yes, we all got punked by the gold bulls. Time to accept and move on
Not all of us.
yup, you made out like a bandit on friday. big ups to you.
But your short term call for on miners was wrong, right? (see previous post A MINER SETBACK) Or were you somehow right there too
lol. Dude, last two times I posted JDST trades, the fucking thing popped more than 40% in a day. But I hear you tho. But not really.
Gold moves in the way to screw the most traders. I’m glad my position in JDST is small. I’m still not sold on a long term reversal in gold. The next few weeks should tell the tale.
Energy stocks continue to sell off even though oil is up 4%? WTF. I’ll buy moar
This is a great spot to short gold/gold miners. If you’re wrong, you’ll know it very quickly and with a small loss.
http://ibankcoin.com/option_addict/2014/11/30/a-miner-setback/
Just a reminder for all where thoughts were less than 24 hrs ago
HAHAHAHAAHAHA. You crack me up dude.
you too brah! #hifive
Hey, I know you were the ninth inning guy on this, but at least there were people that made money on that epic move. Sorry you were last to the table, as always.