This is that point where the market quiets down. But the funny thing is, my stocks are exploding.
We no longer require “the market” to facilitate profits in stocks. The speed is gone, and correlations have been boot stomped to multi-year lows.
What does this mean? You have a better chance of producing a gain in a stock, than you do in any market correlated instruments.
This is why I claimed yesterday that you would make a lot of money into year end. For the first time in a long time, we’ve entered back into a market of stocks, rather than a stock market.
Start looking around at stuff that has lagged the rally a little bit, as we’re seeing further confirmation of rotation here today.
Top picks?
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LULU of Jeff Macke fame…ready for another run into the holidays?
Speed is officially gone, I still like the 9:30am NFLX buy, 3pm sell.
But I defer all potential big mover calls to your eyes.
LNG, SCTY, AMBA, BABA, UA
Any thoughts on GES as a laggard with a high short float; 31.78%
Catch you in AOWOA..
I pulled up a few retail names I like for our top down later today. $GES could work here/
Maybe BONT?
SPLK, BITA, MOMO, YY, ATHM. FIT a bit lower in a couple of days.
BITA Novembers for earnings but it’s starting to move now.
MTSI now has my eye… Nov 35s or maybe Decs
Picked up a 35 Nov MTSI call @ .85
$JD and anything oil related that is smashed for the year.
Took off a *little* NK from a 10.80 basis.
GMCR..
Just bought some shares in retirement account.
Got $tdc dec $32.5 this morning, small position to play earnings and hopefully some running. Now fully invested for my options allocation. That was the odd amount of cash leftover from the last few weeks of buying. Stuck in shares for future trades until i start booking gains in the options.
all we need now is a ‘mission accomplished’ banner….
The mission is still in its early stages…
Nymx
I like LOCO and GRPN down here. I own both but will sell GRPN into earnings as I don’t like the risk. I’m sure it will do an ANGI here.
Heads up – IACI is doing a spinoff IPO of its Match Group, which includes Tinder. Similar setup to the FCAU / RACE spinoff. Some estimates have Tinder worth about $2.5 Billion and the entire Match group at $4 Billion. That leaves the rest of the company worth $1.8 Billion.
FD: I bought some shares today
XON – just wow…wanted that one today as well…
big fan of the healthcare names CYH and THC… both have been hammered
Anyone looking at / long ETSY?
So take….these broken wings….and learn to fly again, learn to live so free….and when you hear..thevoices sing…blah blah blah. Hoping that song will be stuck in everyone’s head now for the remainder of the day.
EXEL
LULU
…watching VDSI for entry point
PLUG squeezing shorts heading into earnings. This one can move when it really gets going. Might not want to chase it into EPS but keep it on radar.
Jeff – Whats your upside target for YINN?
What time frame
Today? lol
haha. no. i am thinking by year end.
Oh, no idea dude. 3800 in the Shanghai seems possible.
I know this is based on FXI, but do you know if this correlations 3:1 for the Shanghai. I’ve been looking around and finding different views. I guess I could just download the closing prices for SSEC
There are, believe it or not, certain positions I’m holding for longer term. TA and BAC are two of them.
Just been skittish for a while.
I think PPC is ready to go. Looks like they sell it in the am and buy it in the afternoon. fake a move to make a move
I was looking at $ANF nice volume pocket…high short float..just broke out of a pennant tho.. not sure I want to chase.
I ran a quick finviz of the $CNCR holdings. These look like the only ones left:
$srne
$lbio
$atra
$nwbo
Anyone think the Shanghai can get back up to 5,000 by 1H2016?
Sold GRPN. Nice move from $3.74 yesterday
Since 2009 US Market Lows to 2015 “today”:
INDU +176%
COMPQ +306%
NDX +375%
RUT +251%
SPX +220%
Still more upside into 2015 going into 2016-2017? Does that sound o.k?
You could have posted under the same name yesterday. No need to hate, just do your thing man.
CRC, BAH
Holy AMBA.
I’ll throw CALM out there. 45% short interest (if I’m not mistaken). 4% div just in case. Looks good to go. What do you think? BTW I’m in awe of your market reads Jeff. Making coin is great but I’m also learning so much about sentiment and speed and tells. Wish I could have been at the conference. As soon as I finally move into the new office looking forward to joining the distinguished halls of AHWOA.
Thank you, happy to hear that.
OA- you have an upside target for crude in the near term?
GOGO pre earnings for the kill!!
Ah wow, limit sell order on UWTI @ 11.75 just triggered, long from that sell off at 9-something.
Laggard:
$SKX for the catsup.
Im happy with the IWM ITM calls from yesterday morn. We could see some major catch up. Also sitting on Nov 20 SPY 211/212 call spreads
I’m looking at the 10 min chart on equities and the line is really clean. Consolidation for a couple days then a straight line up, consolidation, then another move up…I am ignoring the overbought indicators until I see price start to thrash around which hasn’t happened for a while.
There is a major inflection point here across all US indices. So the higher we go without a pull back of 5%-7%, the greater the odds we don’t just pull back but have a significant sharp and fast correction. Something along the lines of what we saw back in March 2000 – that was about 25% on the Nasdaq in just 13 trading days! But that is just speculation. Save it OA.