The Russell 2000 has quickly moved back to retest the December trading range. Once this range is broken, it users in the possibility of a fast move lower.
The VIX has stayed up around 20 for quite some time. Going back to October, this is basically the midpoint of the range.
I still like the way that oil is holding $53, and that trade that we looked at earlier in the week is still possible. In other words, if oil can rally at some point next week, EXXI, BAS, and GDP ought to rally sharply.
This is a pretty pivotal location for the market, obviously. Stay nimble out there.
OA
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My resolution for this year was to do much of what I did last year:
(1) avoid the momo / growth stocks
(2) stick with blue chips
(3) take the f*cking gains quickly
I think we get a wash out in #1 at some point though and will be looking for that to start dipping my toes back in the water. Valuations are still too damn high.
Good luck to everyone. It’s been a tricky market to navigate.
Get long some miners. Finally knocked off my gold crash bias last week and it has served me well. Recovery in session now.
Bchu which ones in particular are you looking at
guess I was just early on the SIFY and REDF
BABA to the moon!
@Golflover – I’m long on etf $nugt and long stocks $nem, $aem, $gg, $rgld , $ric
Thanks Bchu
If you like miners, CDE, SLW, RGLD look decent. AUY has a nice volume pocket above.
they all have pockets above
True. AUY’s is closer and sparser. CDE looks almost as good.
I think its still too early for them all
OA – EXEL ….. lol!
MONSTER MOVE
To be honest, OA it’s a much more prolific chart reader than me and he had a list of miners to get long earlier in the week in his video. Prob just go with those if you want
chinese stocks ripping. sold NFLX earlier. Good base hit. found my buy spot on RKUS feb 12 calls. added some GOOGL and CMG calls.
Jeff, does Bidu still look good to you?
Not as good as it should. Any further downside and I might remove it from my watchlist.
Adding AUG position. Thx @shawnji
OA – not sure about entering right here, it INVN looks to be creeping into that gap…
Still outside peeping the same screener. OREX has a nice 5 yr look to it.
It’s cold outchea, so last one, and I’m heading back to work: HIIQ – looks to be ready to launch from Aversion.
New highs in nugt
when you change from bchu to bchu12 do you put a cape on?
I do when I’m making a ton of gains like I am today. How are you doing today, former?
flat, up big on my specs ANV VGZ EGO, down big on IMAX, MTZ
Nice. Good to be flat on a day like this. Got lucky on my $nugt position but sentiment in gold and miners are horrible so had to try the contrarian. Maybe I’ll regret holding half my position on Monday. We will see
it’s like holding a hand grenade
sold KITE calls today +300% from $51.
China is the rotation here DANG and NOAH look great
Just BOT some TWTR $40’s Jan 17. Let’s see if DICK gets fired over the weekend. Favorite play and YELP
Not some BITA JAN $80 calls and YY $75’s… Let’s rock
TLT VXX UUP bid. USO JJC UNG EEM RSX EWZ etc etc no bid. Nothing has changed since the dumps of the Fall other than the indexes holding up. The hand has been busy.
BPZ?
Bps bouncing in January effect manner. Will ultimately be a donut. Sell any rally Inmo.
Bps rather.
Bpz
OA , of all your Jan. option positions are there any that you would add to @ the open tomorrow with 10 days left until expiry ?
FEYE, MBLY, FB, to name a few
CREE looks good here.
Just sharing an opinion here… but I find it really interesting that the only opinions about Gold that are showing up here lately are Bullish. Even though this setup looks really familiar…
http://imgur.com/KyXtHj9
The U.S. Dollar Index has just entered it’s thin volume profile overhead… so that can’t be good for a commodity priced in Dollars…
@canalsrb, miners will be sky rocketing tomorrow based on recent trends and how gold is mixing overnight.
Sorry to say that $jdst owners tomorrow will be crying. Feel bad for those that have gotten trapped from paying all the bearish sentiments on gold and miners recently
I don’t know @Bchu… GDX, GDXJ, and GLD have all failed to make new swing highs on the daily chart. I would also argue that sentiment is no where near as Bearish as it was several months ago. It seems most people are just ignoring it at this point.
Bought more GPRO in premarket. Margined to the gills.
Buy list: NFLX under 340, SSYS under 80 FEYE under 31 and VPCO
BITA calls up 120% from Friday buy. YY up as well. The D Train baby. PCLN puts here for 1100 strike. from 1130
@canalrsb – Higher high in $gdxj. I’m staying long $unit and $nuff here. Maybe 2 more days
The last swing high on the Daily was 29.56 before the recent low was made. That’s still almost 16% away from here. Lower time frame does look better I agree, so I can see the 2 more days… but it is still in it’s downtrend longer term as of now.
$nugt I mean
Good call on CMCM OA. Hope everyone is still long.
Out PCLN puts for 150% profit. Done for the day. Waiting for the $NYMO OS signal now
The relative strength out of RUT today is very encouraging. Still like financials going forwad…bot some Feb calls in BAC today.
IWM outperforming the index’s.Bio way outperforming.I think the selling is going to abate soon.P/C on VXX finally showing some fear.
IWC the microcaps are actually positive today, big divergence in risk vs market.
Bought stock in BDSI here at 12.05.My stock of the year pick.
Started the yr off with a bang, down 4.2%. Quick 12k down the fucking drain. This market has a tight grip on my nuts.