This action is suspect. For the signals I mentioned in my last post, you might want to consider enduring into the close.
I have a feeling this action will be the opposite of what happened yesterday. Draw participants into opening action, reverse mid-morning. I’m starting to think that this is why there were no gaps this morning. Allow everyone to participate at fair prices. If this doesn’t change as I think it might, I’ll be forced to make some adjustments.
This $IBB is heavy as shit, but as we mentioned in After Hours with Option Addict last night, I have to give this the fullness of the day to determine its fate.
Would you consider this action fast? It feels a little heavy, but you’ve seen fast. Is this fast?
I booked my $GOOGL and $FB here and picked up some $TSLA. I’m going to have to salvage some software/security plays here today as well.
FYI yesterday we reversed the opening move at roughly 11:00 am ET.
More later,
OA
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Ignore IBB. XBI is the real risk indicator. Look at top holdings… it holds all the small caps. JMHO.
And look at VRX, the poster boy for hated biotech. Just my 2 cents… and talking my own book a bit.
I’ve been saying $IBB, because after taking a hit, I focus on quality. In AHWOA we’ve been keeping track of the top 10 holdings in $IBB. Those are mostly green today.
so are you still holding LABU tho?
WMT loses 16B in market cap. Is that bullish?
$WMT wasn’t an indicator for me. Tell me that at EOD as a warning heading into tomorrow.
I understand, anything could happen. WMT is about as good a read on the US economy as it gets..
I disagree although that used to be the case. I haven’t been in a walmart or target in 2 years. I order almost everything I used to get there from amazon.
I’ve avoided $WMT at all costs. Hell on earth. Haven’t been in one in 5 years.
I don’t think any man likes going to Walmart.
I always buy my motor oil from there..
OA, what’s your take on the USD/JPY here? Seems like there’s been ample opportunity to break down or break out.
Ask me in AHWOA. That requires an in depth discussion.
2.85 on the 30yr has held twice this morning. Not good for oil t yet, but favorable very short term for a quick russell day trade.
Was too cute and tried to get filled at 65.64. Missed it. Pulled my order.
not fast but some complete lack of buyers
Looks like yesterday after the open so far. run it up, then dump it. I went long ES at 87, tight stop.
This is the time the market reversed yesterday. We’ll see. How fucked up would it be to see NQ take out its HOD?
Wouldn’t be overly shocked, if the bulls are for real. They aren’t really making a push so far though. If not, some levels below I wouldn’t mind testing.
came 1/2 point off. oh boy, the drama.
Technically the NQ did it.
yep, it just didn’t like it. so far.
Beautiful cup and handle here intraday.
If the shorts wanna take control, they should do so at 11:30am and not let up
bears certainly winning off 2014 es. Now they got vix shooting out of a cannon to help. If they fail to take this much lower in the next couple days, bulls in charge in my opinion.
OA – I wanted to get involved in IBB on that morning dip, but remembered your words (and Raul’s RCS). Off to visit my folks and then grocery shop. We’ll see how things are shaping up this afternoon.
Perhaps Mother Market will continue to punish my degenerative nature but I added more FIT calls with some loose change.
Can someone explain what increasing implied volatility means – FIT has moved higher recently and not sure what (if anything) this might imply.
When do they report? This happens as you get closer to earnings. Getting closer to expected movement.
11/4 report date.
IV has risen and calls are offered today onky .05 higher than when stock dropped into the 33’s
IMHO, You’re playing with fire going long $FIT. The stock is still wildly over valued.
OA, Stopped out of FEYE, but wondering if I should take PYPL here or try to see what happens at the 50 day or 34.69?
$PYPL was last week.
Yes purchase price was 32.48. what you think?
? Then what are you asking?
I want your feel for how far is wise to hold it?
If you don’t have an opinion, why not just follow me?
Okay. So you’re still holding?
PYPL is a thing of beauty, especially in this tape – hasn’t even had a high volume day yet….
Man, RC and his Uber bearish bio case is scaring me from holding labu
Sell it dude.
Don’t let another man influence your vagina.
A most epic burn
I don’t comment much…..but this response should go down in history! Bravo
( ! )
Doubled down on LABU @ 12:03PM EST. Easy to manage.
Wow. #timestamp this blog at the low of day.
I’ll take the high road here.
No, I was referring to when I published this post. It was at a dicey spot this morning.
No call outs. I appreciate your comments.
Oh, I misunderstood. I followed you into that $PYPL trade. Made me a lot of money dude. Thanks.
If the short everything switch is not flipped by1:30, pain trade for rest of day is higher.
Well, seems like the Algos heard me. 🙂 Oil seems to want to settle at 46.30 ahead of API. Less than 1% above the low. Not a lot of enthusiasm. Would prefer a flush to 44 this afternoon to take a crack at a pre inventory bet.
actually might get long crude here. its looking good