Small and Micro caps are very resilient into this decline today. As discussed last week, there was a lot of conviction moves in the Russell last month, and its a good sign to see these prices defended.
Here’s another look at the developing range in the VIX. This is my biggest cause for concern right now.
The biggest tell for me today is the non-response in the Russell, and the strength in growth stocks (again). They are very resilient into market weakness.
We’ll see how the day settles, but there’s that constant feel to this market that something big is setting up.
We’ll discuss this in more detail after hours.
No trades to speak of yet, other than booking $CMCM.
More later,
OA
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Regarding $CMCM- Did you hit your price target? Whats your resoning for booking it.
$17 was my target, yes.
Nice call on $CMCM. Sticking with that stock shows me how patience is necessary when trading. Though I was so glad to sell for a profit this morning.
OA,
How do you set your charts to show so few days.I set mine up similarly for /TF 5 y D and it goes way out to 2012 making the bars too small.
I zoom in.
Hah! Well that was easy.
This market is absolutely addicted to fear. It’s been a daytrade-only environment since October. Can’t see what would make it an easier swing trading environment any time soon.
Wow. Alternative energies getting slammed
Uh, you mean all energy?
Well, alt more so it seems
Nah, look around a little more.
Stupid little stock KEG holding up…..
Biotechs and tech in general do better in deflation.
I am considering retiring as an options trader.
Long option strategy struggles in rising volatility environments.
this is no joke.
I’m looking to short any bounces
This seems to be the only way. Everything falls faster than it rallies.
Anyone else notice that recent ‘Mutual Fund Mondays’ are a great reason to sell the market?
Every day seems to be a great reason to sell the market.
So far, the signs of this new year are clear to read: The market will continue to flounder in a deflationary vortex for the foreseeable future. All long trading is dead for at least 3-5 years. Many companies will close their doors and throw millions out of work. The banks and brokers will go bankrupt on margin calls and failed loans. The global financial system will completely collapse, leading to a Mad Max apocalyptic doom. The sun is getting more intense and will soon make life impossible on Earth. The nickel core is overheating and will soon explode.
And that’s the optimistic outlook
Nostradamus, would you buy CYBR here? How about GPRO?
It’s T-bill time for me, OA
Damn. T’was a pleasure to work with you. I admire your work.
Although ANGI could work too…
You would be the best resource to know for sure.
One last question, See anything in terms of natural disasters on the horizon this year?
The only disaster I see has already occurred in my trading account. There is no hope left.
One vulgar expression sums up my first day of trading in 2015:
https://www.youtube.com/watch?v=rUlIh45zvzY
only thing saving my ass today is $JNUG and $NUGT. everything else is red.
now back to chub? lol
haha. i guess my mobile phone is set to bchu and my office pc is set to chub. I just realized that. i’m on the road quite a bit for work.
now I feel a little better reading your posts – but is bchu12 you also?
all me. dunno how that one came about
Sold YY for +90% thought it would’ve went more but Market was just too horrible today. Still Holding NOAH calls China time
Bought a little blood in the energy sector today: $ROSE Feb 25 calls; added to $EVEP (full position now); starters in $EMES and $HCLP. Still holding ~10% $ERY hedge
half of the purchased were financed from booking $CMCM–hat tip OA
I am so in love with that ROSE.
me too–it was my pick for the stock of year contest
You loving a stock, that should keep people away from it.
No one likes a douche, unless of course you’re a pussy.
Feye and lulu saving me
Which growth stocks are you eyeing that held in? Just curious. I see a decent amount of carnage in some that I follow like Z, YELP, GOOGL, ZU, SPLK, BABA, AAPL, TSLA.
I wrote this shortly after the open. Everything fell to shit at lunch.
oh gotcha. what are you thinking about some of these: Z, GOOGL, AAPL? I’d love to see Z at a PEG of 2 or around $65 to $70. Doubtful it happens but maybe on the back of uncertainty surrounding their TRLA merger???
CYBR catching my eye again. I already have some $45’s that are almost worthless. Looks better here
LULU strong, like bull – in yoga pants.
Remember that “biotech basket ” a.k.a. the “bucket of shit ” you were touting last year about this time ? I think you were a year early and tricked into the cheapie hype .
My theme for this year is large biotech with some huge merger /buyout activity .
Make it simple , look at the IBB top holdings , pick two or three and have a nice year .
This nonsense of waiting for a bounce in oil is not a healthy way to start the year . Once it breaks 50 the market will surely overshoot ,always does , and the bottom probably somewhere around 35 . The days of NYMEX heroes is long past and the machines/programs really don’t give a fuck about jobs in North Dakota….nothing to see here , move along .
the NQ will hit 4135 4140 area before any chance of bouncing.
TWTR time…next stop 40!
J freakin NUG baby!!!
CYTK, SGI have saved my bacon. BABA weeklies bot yesterday looking good. PEIX puts looking good, thanks to whoever it was that recommended those, can’t remember who it was.
shawn, that pocket below $9.10 on PEIX is very open all the way down to $7. What puts do you have?
Had Jan 10s. Closed them for a decent gain.
Hey gasman, what are the odds of PEIX breaking through this triple bottom and getting into this pocket below? Sitting on next week’s $10s here, and thinking about rolling them out to Feb $9s or $8s…
Hey jacked, I’ve got a limit order in at 1.55 on my Feb 9’s. Premium getting pricey and I don’t want to risk losing these monster gains on a snap back rally. I might sell lower at EOD depending on what the market does here. Awesome trade you got us into. Many thanks.
Scratch that comment about pricey premiums. They’re actually still cheap here. Moving my limit order to 1.85.
Good group trade all around. Looking at getting out of my Jan $10s today, then roll into Feb $9s or $8s on any subsequent bounce this week. Good luck!
Thanks Jacked Rabbit! Great call! Or should I say put…
Wow!!! $jnug $his
Don’t be sucked in by the bearish bias. Easy money here
This is turning into a conviction sell day on RUT. Happy New Year.
Sold out of GPRO margin shares and Feb calls and rolled into Jan 70’s and weekly 70’s. Looking for a big move here.
the TLT is going nuts.
long NQ 4105
OA, as getting closer to our FSLR entry, will you sell your holdings if it went down from here ? or wait and add more lower ?
Thanks.
out +4.5 that was rough. Need to see more before putting anything else on.
Bot TWTR 37.52
For all of you longtime iBC readers, here is a blast from the past. An iBC Hall of Fame Member and current staff writer for FSA the goat….
http://fantasysportaction.com/pro-blog/407-goatland-1-6-2015.html
what an amazing day! keep it rolling. trend is your friend
TWTR en fuego!
tweet tweet bitches!! heck yeh
in some PCLN calls 1110’s from 1080 3.20 cost
Next week YELP $55 calls here.