Listen, its not too late.
Sure there’s a lot of fear and anxiety in the air. But you have to admit, if you’ve been warning of downside, you just found a pit in your stomach this morning as investors gobbled up a 1% gap like its was all they are going to get.
There were interested buyers left at the lows. A gap down that goes green in 30 minutes is a pretty good tell of that. Remember FOMO at the lows? Now the emotion here is “MIMO.”
Also, because Biotech, energy, and momo-stocks were clearly not participating yesterday is the perfect reason for them all to rip to the upside today.
The downside case is quickly losing it’s place here. Look out above.
OA
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I really wanted to leave that $SKEW index post up for the rest of the month. Like a walk-off blog. Literally had me speechless this morning.
Looks like XBI, which is what LABU is based off of, is getting perky, as is IBB. Have they broken out of your range? If not, definitely close…
Technically, I had them out yesterday, followed by a retest.
Gotta be open for /CL stops to be run down to 47.25 – 47. Be patient oil bulls.
The 30 yr ain’t scared. 10-30 spread @ 82 bp
can you post a chart link?
Don’t use a chart. Use the diff between TNX & TYX if u were asking…
You are EN FUEGO, OA!! Calling this market like you are the puppet master of it. Very impressive, sir!!!
Thank you
thoughts on ADHD for a purchase?
I don’t like how fast it was sold. I’d wait for a month and see what happens.
thx
TSLA comes back live. PYPL a great call. Thanks a ton. What’s your timeline or PT on UWTI? These time decay kills me.
Muppets In Misery Obliterated
12 months of overhead supply on the spx….how do you resolve that? I guess a 100 pt spx gap up will fix it
until then, traders market ..make 2 pts in SHAK today…yea me
Same way you did in 98. Chasers.
One of my favorite movies! PS. I just picked up some SPY puts.
Why?
I believe we could be in a SPY range of ~190-200 and putting some money behind the idea.
Still got long exposure? Or just short?
Very minimal long exposure at this point. Sold out of longs last week. Mind you, this is not a ‘bet the house’ position.
EEM and FXI not confirming SPX move.
The market is unch.
PYPL showing nice action without a volume spike – me likey.
Waiting for the 1:00PM EDT activity as people come back to their desks from lunch I am making popcorn
Geez. When I left for work, LABU was up 4%. Got to work and it’s slightly red. fast moves in this bad boy.
Long and strong. I agree the market is headed higher. I’m hoping for some love in the most hated sectors: oil, copper, coal.
Impressed by your overall action over the last few months. Great work.
Oil bulls your setup is here. U can ever long now with a stop just belowe $46.60. Maybe even 46.30. Use appropriate risk management. You may also wait till 1:15 to see if Algos run stops down towards 47.00.
Avg. down on FL
This guy has juvenile-looking charts, but he has a data-backed take on the SKEW chart that differs from yours. http://blog.kimblechartingsolutions.com/2015/10/whats-it-mean-when-everyone-expects-a-black-swan-event/