We had a decent market plan for this week, which is coming together nicely.
There’s a little more upside from here, and no reason to short this market til we get a little higher in price, and a little cheaper in the $VIX.
I’m about forty cents away from my $LULU target, which for those of you with me loading up on this under $40, this is a huge payout. I might book $FRO here today as well.
I still think there’s another short left in this market a little higher, but the pulse of things is a different behavior that hasn’t been seen in ages. There is money being put to work in risk, and that is an important component in regards to the market getting its momentum back, which was lost for most of last year.
In other words, no need to load up and chase here, but there’s a good chance that there is a dip to buy within 1-2 weeks that will set you up for the year.
I bought WB stock, QIHU, TSLA and GOGO calls…and am about to book one of the biggest wins in the NQ I’ve ever had.
More later,
OA
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SVXY may be a good short if the SPX hits 2100
25 minutes after your post on an extreme up day…..means majority of your readers missed the move. that does mean the chase will happen. lol
Congrats man.
What are your thoughts on GOOGL here?
Failed move down today, and those set-ups have been working awesome.
Looks like many of the momentum plays bounced off their lower bollinger bands (see AAPL, BIDU, GOOG, AMZN, TRIP), not sure if this is algos tripping buy points or managers looking for good entry points. Stocks that did not hit their lower band have not been bouncing as hard or at all (TSLA – looking at you). Not sure what to do with this, but it is an observation.
details on the call for qihu? strike and expiry?
Tomorrow’s $60 calls bought at the open.
OA, JDST under $10, what do you think about entry here?
Gotta wait on GLD first.
Haven’t had many opportunities in these last few months to breakout matt_bear’s butterfly. Getting closer.
dam. the greed is setting in. I really want to let LULU run. suckers move, i’m sure.
the premise for taking the LULU trade was based mostly on value when buying sub $40. 60 is back to the mean, so you can bet there will be some chop and set-ups before a return to 80.
great point. thx.
One week too early on CMG for the mother clucking lose! I hate this market and all of 2014
Anyone like JD here?