Despite the early negative divergence in the Russell, at least we still have some incredible dispersion across equities here today.
$DANG finally decided to participate in this China run. Hopefully this sparks a breakout of this year long wedge we’ve been discussing in After Hours with Option Addict.
As for the market, we’ve warned about this week and its importance to our overall market map. I feel this reversal happened way too early to be the “right” move, so I’m watching the close in the Russell today as the overall tell.
More later,
OA
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If you had to play Solar, what is / are your top picks (ex Vivint)?
I am all in with SUNE, FSLR, VSLR. It should be noted that without fail, every time the crowd has chased these moves up, they lose hard.
OA, what do you mean by, ” every time the crowd has chased these moves up, they lose hard.”
Are you tang in solar? the rest of the crown finally joined and has lead to selloff?
The TAN has gone straight up since Jan. I mean buying way up here in context of where the move started.
If YGE finaaly joins in you know its time to take profits lol
Have we dsicussed rising wedge in RUT in AH? Don’t recall us doing that.
Yes, on at least 10 occasions. Compare to the rising wedge in the Russell back in 2012. Rising wedges are most effective rising against a down trend.
Well what possibilities await with the dual mysteries of Apple earnings and then the Fed. I know of know way to hedge for all four combinations!
OA
Great call on predicting the pullback. Do you think this Gold rally is short lived?
This might be the real deal. Watching closely.
OA,
“Real Deal” as in a potential real bottom? or “Real Deal” as in look out below?
As we’ve talked about this spot in Gold, I’ve obviously flip flopped over the last month saying that we could move 50 points in either direction. “Real deal” meaning 1250 coming up.
Thanks. I appreciate the quick response.
Thanks, OA..watching the 1204/5 level with keen interest
OA,
Im curious if you have an opinion on $TWTR here, given your prescient caution on the overall market last week? Thanks for any input.
fwiw, a ton of call buying in $GLD
I’m flopped to being pretty bullish on Gold as well. Think we saw the low of the year already
I am not yet – I want to see if trades can clear this level after today; if they can break above 1215, then I will close my JDST position opened this morning (at what i thought were great prices…)
i agree, 1215 seems like a very key resistance.
Obvious divergence with gold and the miners tho. Miner have been insanely strong this year. i’ve learned not to fight it and just ride it thru buying every decent dip.
Hi Jeff,
BIIB . seeling done ? good entry .. or are we going to see 360 ?
I never look at fast conditions like this as good entries for anything.
You are right .. Thanks
EMES getting destroyed further after reducing their dividend last week….SLCA not affected…..so far
It’s time again ; SPY June 30 208s .
i.e. the 208 Puts … staying long ASHR , FXI , CHU , CHL , LFC , very long TSL and YOKU darling .
Nibbling @ ERY .
…. what say you boss ???
I think you got the puts wrong this time, with all due respect.
Everything else looks splendid on your books though.
I think the Fed throws us 3-2 Uncle Charlie or maybe even a nasty splitter , nevertheless , your opinion now has me concerned .
Jeff, based on this market action and where it is headed for closing…what’s your take now? I am guessing AAPL earnings will drive this one way or the other.
What is the crowd expecting here?
I think this feels wrong.
It does not feel good at all, I have to admit that the gameplan no longer seems right. At least from my view. I think this goes south…
“I think this feels wrong” as in this action here isn’t the truth. Not yet anyway.
Well, anyway, still think that AAPL will dictate the direction…