While the Nasdaq holds onto its lows, and the VIX is hanging near highs again, the biggest change in tone today was the deterioration in risk stocks. I’ve been holding that card close to the chest lately, as I felt it would be an important tell for how traders positioned into a volatile month, but I will quickly lose convictions if that trend continues.
If I look at the type of stocks down 4% or more today, its FEYE, QIHU, SPLK, LOCO, GPRO, MBLY, CYBR, DATA, TRUE, TWTR, and COUP.
While we toe the line again, the lack of downside follow through has a familiar feel to it. Especially going into EU QE next week. I’ve been trying to make more of the volatility environment by trading futures, and will do so til we get through next week.
The overall environment has been thrashed, which makes nothing look great here. Keep cash reserves high as something will start to make sense soon.
Top Pick: a fucking nap.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
dipped toe into some UTWI today..small play..how low can it go??
zero
The low in crude will be $35. The v-shaped rally at $35 will be very quick. Then we trade in the 40s for months. So UWTI can still go much lower.
so ride the supercontango back with FRO??
ummm UWTI..sorry
I’m still ridin FRO BRO!! If nothing else it’s fun to see your position gyrate back and forth 10-15% a day.
WEEEEEEEEEEE!
I ate a two three pound deli sandwich, 80% odds I go comatose at 4:05pm
I’m giving you 10 mins.
after returning from lunch to a down double digit UWTI, i good and well say fuck this here market
$GOOGL hanging in here, figures it would since I own a PUT OPTION! lol weeeeeeeeeeee!
“Gonna Burn” we need to work on your use of the future tense.
It’s the slang term I use when I smoke crack cocaine with Ragnar’s mother after sex.
BWAHAHAHAHA!
OA – I envision it goes kinda like this… https://www.youtube.com/watch?v=0TIpjUp-gDw
Perfect clip
lol
hahahahaha
…and you’re surpsied the overvalued “growth” stocks are tanking NOW? They’ve been in a downtrend for months! you were simply fighting the trend and did not believe all the warning signals that were flashing in the market. FROTH being a glaring one, but crashing oil, rates, negative divergences as markets sat just under year 2000 highs, extreme whipsaw in ending diagonal patterns for all three indices, etc etc etc. those “growth” stocks were bound to come back to earth…much more to come. Markets headed much lower. Conditioned dip buying is hard to shake!
Hi Ragnar.
Hi Jeff. I love yea buddy. Yes, still short “growth” in a big way. Two words for the market:
ENDING DIAGONAL
You got your balls stomped last month dude, we watched and laughed.
Got stopped out of a couple whipsaw moves…no big deal. You, on the other hand, have been buying longs. Now THATS fucking hilarious! Didn’t you just buy GOGO calls last week? How’s that working out for you, champ?
Upper case, exclamation points and quotation marks on words that are not quotes.
https://www.youtube.com/watch?v=8Gv0H-vPoDc
Troll etiquette.
Oh come now, Jeff. Don’t get all pissy just because you’ve made so many horrific trades over the past coup,e of months. You kept looking for longs when you should have been looking for shorts, dummy
Oh come now, Jeff. Don’t get all pissy just because you’ve made so many horrific trades over the past coup,e of months. You kept looking for longs when you should have been looking for shorts, dummy
you said it, Litmus!
HAHAHA, here we go. I knew that would get you aroused. Keep going.
litmus/cornelius et al – care to suggest a trade or actionable insight? Otherwise please take it elsewhere.
His mom is on the line here…and besides, he’s the only bear out there that got it all wrong. Fucking hilarious.
You know, I was just thinking The Fly needs to make his way over here. We are due for a Fly “FUCKING BANNED” as it’s been a while. Always amazing to me the haters who come here and knock someone’s trades without offering up any ideas of their own.
Wrong?
Been short YELP, GOGO, GPRO, ATHM, TWTR, AAL and SBUX. Still holding SPY puts from Tuesday’s rally.
ENDING DIAGONAL my man…look it up
youve been money. i’ll say that. every mini rally in growth stocks have gotten bitch slapped back down even harder.
U thirsty?
OA – I have a stock for you to look at: NUS
Slowly moving out of risk assets and into something with a better return: booze. Looking at diversifying here by getting into Scotch. What should my first five purchases be in this portfoliio?
Jacked – do you watch the RalfyStuff vids on youtube? https://www.youtube.com/user/ralfystuff/videos
Thanks, Buccs, never heard of him. Clicking subscribe as I speak. Definitely need to research.
Not Scotch but whiskey, truly if you can find Pappy Van Winkle it’s a decent investment.
Adding it to the list, Trent. Cheers!
Arbelour – cask strength
Awesome – it’s on my watchlist, Hopefully my palate can take it. It’s been screwing around with riojas and malbecs lately.Thanks winsor.
We will remember this next market move for years to come. So few market participants with wildly different opinions.
Chaos. Never seen anything like it.
And that’s boolish? Does it feel like the chop environment in the 2011 EU Crisis?
No, the market actually went down in 2011.
you think this is chaos? my goodness. things just getting started i think
Yeah, you are a pretty reliable source.
OA, remember me asking about a drop in $AZO? How you responded was very logical but the Market hasn’t been logical for more than six years.
I believe my reply was that if we were to go the recession route, auto part stores would hold up pretty well? But if not, the auto maker plays like F and GM might have the relative strength for now? Has that not been accurate?
Since you mention it, I’m taking it that my comments were not as you might have liked?
What’s hilarious are the calls in GOGO you bought last week. Bwahahahahaha
Again….ENDING DIAGONALS. Edubucate yourselves on that pattern.
Crashing oil, crashin interest rates, rising bonds, no more QE (extra Grandma Yellen), massive negative D at market highs, froth at extremes…ending diagonal patterns and markets whipsawing inside those patterns as confirmation….yup, all set for a market move HIGHER! Too funny.
Oh
Almost forgot…banks are cracking now as well.
Just think unicorns, lollipops and rainbows and keep,looking for long setups. That’s the ticket!
….and with that, Im signing off. Don’t miss me too much! 🙂
Thanks for that market insight Assholio Cornhole III
several folks i follow on twitter are saying their favorite short here is $FSLR…jeff’s baby. haha . lets see what prevails
Don’t take shots dude.
what about shots of Tequila?
I’ve been drunk since Christmas.
Is bchu12 a fake chub? that’s the problem with faceless anonymous posters here you never know I can’t take their opinions seriously
Dude, fuck off – under all of your aliases.
OA, I’m afraid I won’t be able to post here for a while.
I have to blow myself right after I blow this here dead goat.
The troll index is nearing record highs. This has in the past been a sign of an imminent rip to all-time highs. This time, I’m not so sure. The markets go higher tomorrow or Monday, but for how long? I’m hoping for a correction and return to low volatility in a month or two.
Long Tennessee Bourbon. Fuq a Duq
OA: bull or bear, one week timeframe?
If we’re down 1-2% tomorrow, bull.
I was totally setting you up for the ‘Neutral’ call.
My bad…losing consciousness.
These trolls are such morons. If you don;t like it here why come around? Everyone’s trying to make money in a business that is one of the hardest out there. If you want to become a pro act like one.
OA you doing any overnight trading?
For the last two weeks, yea
Has anyone else had a look at $LL? I saw it as Jeff was scrolling through a screener today. It is the definition of shorting into a hole but $25 looks like the final destination.
FXCM in breach of capital requirements and is owed $225 million by clients due to this SNB action. Damn what a great short that would have been.
Surely we have learned the lesson of deflation in history. The ECB is about to pour cocaine all over the place. Get your tux pressed for next weekend gentlemen
Part of me agrees with you…but the larger part says the Eurotrash F it up…or at least disappoint with its size
Bernie – I had the same thought. Why place your genitals on the cutting board & entrust them to our “friends” across the pond? Nervous times…
Bought into the $BBRY on that giant drop .Went with a few Mar 11’s at .68
Why on earth would you be buying ANYTHING long in this market? Another conditioned dip buyer…tsk tsk tsk
It’s a small gamble.somethings going on here and I have till March.Have a sell stop set on the next rumor spike.Maybe a home run.You never know
Giving JDST the old college try here. GLD is at a strong point of downtrending resistance and GDXJ is retesting it’s breakdown level.
what in your right mind would tell you GLD is at downtrending resistance? It’s broken out of it for several days now. i don’t see any resistance until 1300
TROLL ALERT: Up 137% in two weeks on the short side of growth stocks via Feb. put options. NO REASON TO TAKE PROFITS JUST YET.
PS.
Biggest put option holding remains GOGO from the $15.33 entry. Tasty morsel, if I may say so myself! What you folks need to learn to identify is this. WHEN A STOCK IS UNBALE TO BOUNCE IN THE FACE OF BIG MARKET UP DAYS, ODDS ARE HIGH IT WILL FALL ON MARKET DOWN DAYS! It’s really just that simple, amongst other indicators such as probing support for too long, neg. divergences, etc. GOGO has been a textbook example of this.
SHORT THE BOUNCES “BRO” for this market is done for now 🙂 🙂 🙂
Except in December when you found that didn’t work so well.
Biggest “no brainer” short plays? How ’bout SHORTING BACKTESTS OF the 50 EMA’S of GROWTH STOCKS, bro’s. Those have been VERY tasty (see SPLK) 🙂
Time to roll some put gains into more puts. Market gonna flush.
Indeed it is. Here’s the rub. AAII investor sentiment just released shows a healthy increase in BULL week over week!! Dip buyers remain conditioned…hehehehe
GOGO continues GOGOing down to my $13.50 target.
…got puts 🙂 🙂 🙂
Adding to nat gas via UNG if it holds above prior weeks’ close which it appears to be doing at this time. Oil? Not so much. Will add to my short position on a close below 18.25 on USO
How typical of the RUT to trade back towards 1170, I.e. the area of balance OA has pointed out before. I’m looking at a lot of stocks though that aren’t seeing a bounce at all. LNKD and AAPL for example. A lot of stocks still look weak and aren’t seeinf the sort of v-shaped rallies were accustomed to.
If I had to guess I’d guess biotech is the sector most pushing the Russell up. All will not end well. This bounce doesn’t feel like prior ones.
AAPL looking weak – looking or it to drop to 104.5 today – may bounce there, but not sure.
Sold FEYE 33.5 puts for a 300% gain – thin market for them today, so not exactly happy with the trade
You guys see the little head and shoulders in BIDU. Taking a shot here. QIHU with a moronic 3%+ rally next on the list.
yup. short any growth stock that is up today. hate to admit it but JPMorgain got it right
I love that you are constantly there, when trolls need a handjob.
Sold weeklies on XOM 200%. what a rollercoaster the last two days.