From the open…
The bulls need to nod here, and let this one go. I knew with an hour to go prior to the close and the twitter heckling at the lows, that the pain trade would be up today. This isn’t it yet, but shit, I would be nervous being short down here.
On the day, RUT non confirmation, Yen non-confirmation, breadth non-confirmation. I’d like to see a repeat of yesterday to be honest and this shit is a wrap tomorrow.
In short, hoping this is the start of the last “uh-oh” move.
With any luck, today should look like yesterday, leaving tails in either direction. If history rhymes, there ought to be one last come to Jesus moment in stocks. When that happens, and things remain divergent, the knights will be summoned to protect and uphold this trend.
Start planning immediately.
OA
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OA- what stocks are at the top of your shopping list
http://ibankcoin.com/option_addict/2015/09/28/morning-wood-3/
thx OA
it this is part of some bullshit bottoming ‘process’, I don’t want to have a fuckin thing to do with it
I have lvls of the spx where i’ll deploy cash, and it sure as hell ain’t 1901
Three blog posts by lunch… I think we have a new record. The man is on fire!!
You know, I spent some time on twitter recently…watching so many experts call this action after the fact, rather than making actual calls and helping navigate the process. I then realized these people have more followers than me.
I’m trying to impress my daughter in terms of twitter followers. Content helps, lol.
long TWTR??? lol
Not sleeping for the past month gives you plenty of time to type too…. haha.
We can start charting it with a sentiment chart, must be approaching euphoria soon.
Expiration comes early in october thinking middle of next week good time to leg in
Bought FAS OCT 27 calls….
why not wait for the final swoosh?
I’m content with my entry and behavior of FAS post purchase.
Goldman already bottomed yesterday, and was weak off the open prior to the market rollover. She’s the leader of what’s to come.
Agreed…both are exhibiting similar opening gap followed by pullback intraday. Gotta buy the aversion…
so curious to what this board thinks the reaction to Yellen will be this afternoon? She has a mixed past performance 9and I still haven’t forgiven her for putting biotechs and social media stocks up on the altar during her congressional testimony last year….even though she may have been right)
http://kingworldnews.com/gerald-celente-warning-ignore-the-rally-as-market-meltdown-is-imminent/ Has anyone besides Marty Zeig in ’87 ever called one of these correctly?
Zweig
Took a position in UGAZ again here at $6.24
Is anyone here buying longs at close if we continue to go down for the day in equities?
Yes, I’m long SH
wait, isn’t the whole thesis there will be 1 more big drop before the epic sustained rally?
$SH is shorting the S&P 500
ahhhh. gotcha
Bought TSLA weekly 255s
Great Call
OA today – https://www.youtube.com/watch?v=uI4fVgVVpiw
lol…all month.
I think as far as seasonality goes, a rally starting around 10/8 makes sense. But we are definitely oversold and lots of people looking to buy the retest so nothing would surprise me. And we did get the classic sentiment bottom with the Icahn video, a la “Markets in Turmoil” courtesy of CNBC
It always starts with short covering… Buyers are higher and sellers are lower. Trap has been set.
So do you think there’s one more flush before the true rally begins? Or is this fade from morning highs the fish we well get
Flush I mean
I concur with OA…start writing some buy tickets. I expect all of the financials to trade back to their opening prints.
Interesting timing on Icahn’s statements about the market being overpriced. Testing the lows wouldn’t be my ideal place to come out and say that. Things that make you go hmmmm!!!
Sold UGAZ at $6.3
Ummm…three cents of downside risk – why sell?
Because I made 1% and in this market that’s a lot.
Interesting how world events no longer seem to impact market… Russia bombing in Syria and giving the finger to USA would have rattled things a year ago.
This is appropos of nothing we have been discussing, but I am just awestruck at $WYNN. Is there a number that gets your attention, OA? Looks like it’s coming into historic support levels.
$55 was that number. Any rejection back to it I would buy….but that chart tells me the China market is about to explode.
you like $CTRP? $QIHU?
Hi Jeff – time to dive into IBB and QLD for a year end run?
I just went long biotech this week. Buy QLD on the next flush.
$ISRG? looks like it could have a nice snap back
I’m sure it will bounce with everything else.