How’s that Russell 2000 looking, down over 1.5% heading into the weekend? That’s got to make you second guess riding longs into the weekend, right?
Despite the horrendous action in the RUT today, it’s by far the strongest index here. Take any index and check prices against their last swing low, back on 1/16/15.
The risk indices (NASDAQ/RUSSELL) are well off said lows. Perhaps today’s Russell weakness signals some catching up to do, but the action in tech darlings make me think this is still the best table to play at.
I’ve put together a watchlist that we’ll discuss in After Hours with Option Addict tonight.
OA
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I bought some YELP Feb calls and BWLD for the super bowl.
sold last GOOGL 525 weeklies at almost 500% from yesterday lows
solars are strong
they are? couldv’e fooled me
OA – Appreciate what you did there
I would appreciate a rectal ramp here.
you would
Someone nefarious is doing some crazy shit. I just watched the Dow round trip about 100 points in 15 minutes. This shit isn’t real.
Look at FB 5min chart, just dropped 73is and back up.
it’s getting loose.
Loose, indeed. Rip or tank next week seems likely.
Chiefton15, thank you for your previous answer.
Let’s see if the Dow can do 300 points up in the final hour. What a joke.
gonna be a wild close. Feels like it could be ugly.
How do you read the vix? Hell about to break loose or people purchased downside insurance, so continuation higher possible?
You know OA, every time you post about risk levels changing to riskier stocks, the market drops significantly by the next day. Even though GOOGL had an awesome day today, the financials look like they’re about to drop to the October lows. I don’t see how we get through this speed and chop without some cathartic correction or event.
Every time a bear blogs about the market getting ready to fall off a cliff, we reverse 5% in 2-3 days. Two sides to that coin.
True. But after just selling my QQQ calls I bought at the lows this week for a modest profit, I’m finding that playing the upside seems to be very limited (less than 5% for sure). We’re seeing a ton of distribution days with higher volume than accumulation days and speed at the highs. I don’t know how you can’t be a least a bit bearish here.
Why not change up strategy? Short pops?
This is what I’m considering, particularly since the options are cheaper when the volatility is down after a significant pop.
Shorted GOGO. 50,000 shares. BOOM
You know, I used GOGO on the last flight I took from DC to Phoenix – pretty good service, but I think the price point is too high for most people on short flights – I has a 4 hour flight in the middle of the day, so I could do billable work (and watch the market). Not sure I would have paid $16 for a 1.5 hour flight, though.
what type of work do you do?
I am in cybersecurity
you think FEYE is a good investment?
I think their service is good for what they do (although they focus too much on technology as opposed to people, imho, but so does everyone else). I think they are still working through management issues, and once done and cyberl legislation comes through, then I think they are worth the investment. I would stick to short term trades for the time being. If cyber legislation actually gets approved that REQUIRES actions, then I would add them to a portfolio and an investment. Until the industry is forced, they won’t do it. Cybersecurity is a tax for companies as it doesn’t add to the bottom line, it can only protect the bottom line (maybe); it can all be undone by one idiot inside your network. Because there are many idiots, I have job security
Jeff, is GOGO broken?
lol
only thing i like here is MDVN long and AAL short
bought the VXX here
bought EDZ
This market is just plain stupid. Devolved into a coin flip on any given day.
added to IWM puts from last Friday. I’m taking a swing largest short position in a while
this kind of trading makes me believe there’s going to be some news this weekend.
ISIS is kicking ass in Kirkuk, Iraq, a big oil producing region. That made the oil market nervous today. They killed one of the top Kurdish commanders. ISIS is now using snipers to pick off top opposition commanders. They’ve done the same thing to Iranian field commanders (tip of hat) in Syria. If they knock off one of our “advisors” in Iraq all hell will break loose. Let’s hope not.
Feeling a news-related downturn as well. Day trading/scalping working in this environment.
Worst thing about all of this is that nothing lasts more than two days. Can’t short pops nor buy the dip.
Nothing to see here. After all that, an inside month. Crazy.
Day traders SHOMPing one day and eating shit the next. They will never learn that the big boys front run them every time, basically because every move, every trade is bragged about on social media. Use to be a time when men traded quietly, not letting their enemies and even their peers see their hand. As a consequence, prepare to have another losing year.
Drones from Albania will destroy half NYC this weekend causing the first January-February crash in history.
Stay short GOGO thru Feb. That is all…nothing more nothing less. Good weekend to all. Nasty clise today!
I hate everyone.
https://twitter.com/JPMorgains/status/557028972504944640
ROFLOL
Sucks how it’s come to that. The stress on the inside makes everything else so complicated on the outside.
‘I believe I can see the future’ – https://www.youtube.com/watch?v=31jenMJ0UOc – Nine Inch Nails
added%20to%20vxx%20and%20edz.