I’ve made more this week than I have an any single month in the last few years. I’ve been trying hard to keep the balance hidden, but days like this you have to look.
Holy shit.
The QQQ’s were the first to hit the 52 week high mark this week. The SPY is within fifty cents.
What about the market hitting overhead supply? Trapped longs?
Non-existent when you factor in the breadth readings over the last year. Like most have pointed out, smart money sold earlier this year. Why? There wasn’t shit worth trading. Now that the market presented an entry point, that cash was deployed. And there was more cash (as a percentage) readily available now than there has been in the last 20 years.
It would be one thing if that “supply” represented trapped buyers. Any indicators will illustrate distribution in the summer range. Not accumulation.
Now that we’re here, let me ask you, is this “frothy?” Is this “enthusiasm?”
You have to consider much more than price when answering that question, because I am still blown away at those that are not participating in this, or even worse, are fighting this. That’s why the market keeps trading higher. It will continue to do so til morale improves, lol.
I’m done with that argument though. Sincerely. Take it elsewhere. The heavy lifting was done back at the lows, where it needed to be. I’ll point out individual ideas from here, but you can have your market analysis back. I no longer require it.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
Nice. I’m 110% long plus some of your calls. If you were to hedge an overall portfolio here what would you use?
Great question. Got a sector you are bearish on?
Nope, not really but things feel frothy. I’m heavy in tech (AAPL GOOGL FB) so looking at QQQ puts.
Index products would be my last pick.
Maybe a $BIS?
Yea not a bad idea but I would buy the options, no cash and don’t want to use a ton of margin. thanks.
In- fucking- deed
Big Ups G!
That’s the most well deserved mic drop I have ever seen.
bravo sir. you have been vindicated, though most truly never doubted you to begin with. i wish i was able to join you for more.
I caught a small piece of AAPL, some IWM calls, and holding some tsla lottos. missed all the juicy stuff though.
HES has potential 35% upside from here…
my last 10 trades in a row made me money..whats wrong with this picture..yea, its frothy..there, I said it
But, would you say you are a fair representation of what the majority are getting from this market?
We came from a privileged point of view.
not at all
and you nailed this entire move even tho I was highly skeptical
you even predicted the ‘chasers’ to get through overhead supply…outstanding call OA …truly
Picked up some of the SRPT I posted about earlier 25.60
Just sold half of the LABU… ~37% gain… Great call man. Going to let the other 1/2 ride a bit and see what happens… Nice call.
I’ve never witnessed such a clean and precise run of market analysis, all the more impressive because most found the inflection points and stretches of staccato chop so incomprehensible.
Standing ovation.
Disbelief. As you said, whatever indicators will tell you that you can’t buy here, pointing overbought. I am seeing it now with a lot of what is coming up in my screens and I am trying to not lettign it turn me into Average Joe.
Sorry, DENIAL
Vanguard is now managing >3T in assets…
Great work, OA!
So incredible to go back and read the discussions from prior weeks. You see the deadly sins – greed, envy, etc.. – causing emotions that result in the old buy at the highs sell at the lows that fuels wall street
It really was. I am going to go back and print all of it off and save a hard copy.
The only thing i wonder is if some of the trolls are actually fakes trying to get a sucker for the other side of their trade. Either way bless the trolls they show the way forward lol
Didn’t even have to use the AK
Great calls, impressive. I’d sure love one more oversold signal to ride out the new year.
Most would. That’s why the market hasn’t stopped. Why would it let anyone on from lower?
One can dream
Hey OA, great job!!!! Do you think there are more gains for Apple ahead, or take some profits? Thanks
I’m holding for 125-126
Congrats OA on your profits.
Interestingly, despite this little rally (past few days I mean), my ftse position is only 1% in the red as at today’s close.
We will see what transpires, but many of my tiny teeny little band of bears reckon a huge swift and terrifying crash lies dead ahead.
One question though please, if all the smart money sold earlier in the tear, what caused the August falls?
Best.
Year, not tear.
Ray Dalio’s Risk Parity strategy had some sharp realignment. FT.com had some great commentary on this prior to/and after it happened. Not much media around it….not that there would be anyway.
lesurgeon – maybe? https://i.imgur.com/r6OLFwG.jpg
OA- what’s on your target list to pick up over rest of the week. Thanks
You a part of his paid service? You would know EVERYDAY!!! And make up SOOO much money and learning so much more than on here in the process.
My best trades have also been past few weeks. If only FIT hadn’t done secondary, but still big winners and small losses.
Shanghai going off
My Burritos will go apeshit to the upside tomorrow. I thank the ChiComs for allowing yankee dollars to purchase their shares because they are figuring out, albeit slowly, that they need our cash money to keep afloat.
I think you’ve found your niche as a market timer . Will
be looking forward to your call on the market top .
Your new tag should be “THE TALL TIMER ” a.k.a.
“TRIPLE T “
My god, the gigafactory announcement scared the oil bulls? Admittedly it is one of the legs of my short oi thesis going into 2016: incessant media hype on advances in car battery technology. Look at the 8:30 on 5 min oil futures chart. Could be nothing.
Inventory report a negative as production increased. Thank goodness for drop in imports, but that may change with this price spike. Cushing at 1:00pm.
For you oil bulls, 47.00 doesn’t offer much in the way of Fib or tech support. Better opportunity if you can get long at $46.40 before the Cushing 1:00 release. I like helping both sides and will be covering my 1/4 position short that I initiated from yesterday @ 48.00. Of course still a long term short.
My apologies, Cushing inventories are released at 10:30. Down 200k.
Sold 1/4 position SCO 79.05. Will look for oil bulls to defend 46.10 – 46.40 & may enter a day trade long oil. To further lower my cost basis on SCO. Helps with the decay.
Looks like rotation into software. .. MBLY and others moving.
You may write again, but please don’t change the cover photo ever again. Actually that may be your best new avatar option.
You are the best.
I was holding off on writing to leave that post up, lol.
I was wondering what happened at 1040 in the market….then remembered Yellen was speaking….I suspect we will not go up until she stops talking.
Ang. down in SRPT
I’m looking at $srpt too. Biggest one day winner I’ve ever had so I am trying to fight my bias to go back to the well. Just FYI I read somewhere that they report tonight (but haven’t confirmed with my own 2 eyes).