Engaging a market that has short term memory issues is tough. But the conviction in breadth here ahead of the Fed is strong, having generated the second highest $TICK reading since the 10/15 bottom. Likely a little short covering and risk rotation ahead of the Fed.
Historically, a $NYMO under -80 is a layup long. Even if just for a few days, but be nimble here this afternoon.
Crude and the energy sector is lit, which should leave lows in most of these stocks that won’t be touched again for quite some time.
If you look over the price action in the Russell 2000, you’ll see a miniature set-up that looks similar to the year long range. “Conviction day” as we refer to in After Hours with Option Addict, was defended this week, and prices have rejected the attempt lower to trade back into this range.
Today’s close is important in the $RUT, as it seems to be on a daily basis. Acceptance back into this trading range is an important signal, and puts small caps back on track for its anticipated seasonal gain going into year end.
OA
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Ready to book my Sandals Cuban getaway.
Long BUD. It’s the perfect beer for whatever happens
I’m having trouble figuring out if the blogpost art is meant to be you, me, Yellen or Putin? I see those same eyes in my mother-in-law so you can understand my predicament.
Totally.
Crickets….. no ragnar on days SOCL is positive. Although he might be in the dressing room deciding which alias to come out with later today.
social media stocks up less than the market. God Damn TWTR!!! rocket higher pls!
I like the file name of the chart.
Yesterday’s daily RUT candle suggests seller exhaustion, esp if you see a strong close today (as you mentioned)
Jeff, I agree a rally is in order. The $RUT on the daily looks like an inverse head n shoulders with a target of 1320 if the pattern holds true. I’d like to see the gap at $RUT 1120 filled first. By Friday? Happy Holidays.
Yes, and happy holidays to you and yours.
Fuck it I’m long BABA here and COUP. Both look wonderful; if they get bitch slapped so be it
@option addict, As a nervous newbie, I missed all of today’s rally in oil/gas. If we survive the FED okay, can you spend some time in After Hours talking about how to play oil from here on out. Not necessarily what stocks to buy, @gasman has taken care of that…but how to play a rebound in a beaten down sector. I want to jump in and buy left and right, but we’ve had a strong rally (at least in my opinion), so if you could talk about cautionary signals and how to play the rebound wisely…to help an overanxious newbie like myself protect his $$. Thanks
It’s nerve racking….but buy dips.
So many of my positions are bull flagging right now.I know alot of this group are probably in same position.I can just see them taking off next week after exp.I like BLOX FNSR GNRC LOCK ZEN ZAYO FWIW.
Finally, something working. SGI and RUBI looking good, I only regret not buying more time in RUBI.
Like BABA to trade back to 115 -120 over the next few weeks. Love that triangle on the daily.
..and the trolls shuffle out, puts in hand..see ya nov 2015
when does the fade start?
don’t get to excited.
Dec 20 NFLX 325 CALLs @ 2.10
Dec 20 TSLA 200 CALLs @ 2.90
Dec 20 GOOGL 500 CALLs @ 6.60
BALT @ 2.40
Win win win win!
now everyone will turn bullish….it’s all so interesting. My call for the end of the year is we do nothing much and it’s a stock pickers market until Jan.
Its mind-boggling how the doom transitioned to euphoria. I rather be the second guy out of the foxhole… greater life expectancy. Maybe it’s my age.
The extremes have worn everyone out.
yeah, I think the lows and highs are in for year. People are exhausted but there should be some great individual opportunities. Plenty of money still on the table.
No doubt about that. A ridiculous profession.
Yeah, if I could do it all over again…
+1. It’s funny because everything I have is very green today, and I just couldn’t care less at this point. I am done with this roller coaster. Jack Bogle has another acolyte.
The retail investor on the Kubler-Ross model is at stage 6.
Selling into strength. Crazy to hold anything overnight until 2015.
JNUG working nicely today
I got lucky with my JNUG trade. I don’t get how the dollar is at days highs and gold miners are rocketing higher. Better to be lucky i guess
OA, any thoughts on this lawsuit filed against VSLR? http://www.heraldonline.com/2014/12/17/6633489_vivint-solar-inc-shareholder-alert.html?sp=/100/773/385/&rh=1
No.
Conviction day defended in the RUT. Good sign for the moment.
Bought FSLR 42.15
Jeff, thoughts on GE here? Looks ripe for short term bounce. Cheap calls.
@bobbyb, where did you go? 0.0% chance of rally.
picked up some GPRO at 59.60
Thats it for me lets see what tomorrow has in store!
Left everything on overnight except RUBI which I closed for a 20% gain. We’ll see whether I was too cautious or not.
+2.18 Today
+8,20 YTD Net
Lows in oil? That’s a gas.
So in all this excitement today, SPX and DJI doesn’t take out yesterday’s highs. COMP barely does and the RUT blows past.. Small caps obviously liked what Grandma said today. With all these growth names beat up so bad, this could be the spark they needed.?
BABA best looking set up out there. S