I was a day early on my pain trade call.
My original call from the weekend is that this week we’d work off overbought conditions by consolidating. Til this point, the consolidation seemed a little weak. We needed to see a gap up to see how the market would react.
I like energy names here on the day if crude finds a bid. Top pick: $OAS.
Other than that, I am tempted to take on some longer dated $LULU calls. I’ve been trying to do less this week as the market goes nowhere, but these two ideas I like at these spots.
More later,
OA
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odd thursday oil reports due to columbus day makes the oil trade a tad more interesting this week
Leave oil alone, it doesn’t like iBC.
Leave Oil Alone!!!
http://knowyourmeme.com/memes/leave-britney-alone
Short ES at 97-00 level. Risk is only a couple points.
I’d get long above 2003 probably..
I have a small order in for UWTI @ 10.24 to act as a hedge against my short. While price will dictate, I anticipate a smaller build than the API in the 10:30 EIA repor and the possibility that oil is bid for the next several hours.
Oops 11:00am EIA report
Pivotal report today. I’m long via SLCA. Planning on holding SLCA longer term, but today could kill any prospects of a recovery in the oil patch.
OA: +1 on space ghost pic; +100000 on transparency. IMO this had a gap and crap feel at open; starting to develop into a chase higher.
Hmm, sold all WING stock Friday and checking out Dec 35s, seem pretty cheap with a chance to make 700% based on IH&S measured move to 34, which I figure takes all of Nov or slightly more…