I initiated a Dec call position in $PYPL here this morning. The market still has some obvious issues, but $PYPL is easy to manage here, and has the relative strength I am looking for early.
More later,
OA
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Interesting that what lead Friday, $IWM and bios, are both lagging today
When the market gets fast, the RUT never leads dude. You should already know this.
Market falls fast last week and not a meaningful jump by now. Does it change your outlook? why?
When you say by now, is this an important moment in your analysis? A deadline of sorts?
no, just haven’t expected such a fast drastic down fall and is panic a bit with many position under water.
OA, do you see 4th top in SPY around 211 this year? What do you read from that?
No, just one bottom.
OA your thesis on IWM still rocks!
10:10 am is still the low in /CL today.
That is as important to the squeeze thesis as the price.
You often refer to the IWM thesis..but we caught the move and sold it. When you say ‘my thesis’ what does that include from here?
IWM in my opinion is still strong. The pullback to 65 was expected. I see upside here. However, I should not attach that opinion to your thesis. Apology issued even if one was not expected.
I see IWM challenging 70 this week.
I see overall market upside too. I was really bullish on IWM last month, but like how its holding up here.
You have had helpful engagements with other commenters on this blog over that time that I have read. I gotta hot hand right now and want to give back.
Been a great dialogue on crude. You ought to consider writing on the site…very good stuff.
What you mean holding up? It’s been the main lagger like 4 of the last 5 days. Just curious what I am missing
You are missing everything dude.
Re: Pnut Gallery, I’ll look to you as a reference! With a full time job, I might be challenged. I’ll see what Fly thinks.
RVX is quite extended outside of its bollingers on a daily chart. I expect the direction of IWM to be up on this reduction in volatility. Bought at 65.60. And have a buy stop at 68.45 for more.
Set buy stops fro SCO 104.10; UWTI 7.30 Both stops are advertised. If both get hit in a chopfest, I’ll exit both at the end of the day.
Put to call way too low — sell ’em.
Off work today and trading with High Speed internet. TD Ameritrade just bounced me off at 11:10am. Coincidence? Fockers!!!! Account dropped .02% when I was reconnected Ha! Bonds aren’t doing shit. Those American dollars will come screaming over the pond in due order. The European equity only portfolio managers know how shitty their economy is.
I like VRSK here but not jumping in. Editing some family photos today a better use of my time than engaging the market here.
Agree. Too early to buy here. Headfake bounce this morning to lure in unsuspecting traders looking for a bottom. NO THANKS!
Adding to $IBB?
Tempting. Exodus oversold signal. Maybe we will get a short term hop but I’m using a longer time frame and want this below $300. I think that might happen in December or early January.
Haha. Really? Don’t you think the bio play has peaked for the year? Seems like rotation out today
SHUT THE FUCK UP.
.
What strike price on those $PYPL Dec CALLS ?
TIA
.
I went 35’s
Sold some SCO at 103.30. Have my buy stop order still in.
My TNA purchase is positive. I know …. it’s early.
Timely trim of my SCO. Ok, enuff horn tuttin’ ….
Chub, I did not have a reply button to your question for either me or OA. If you are referring to IWM lagging, yes I expected that last week. Used TZA to capture that while holding TNA.
65 will be a battle zone and I will use TZA if I sense a 3 – 5 trend down for TNA this week. So far TNA holding in there.
TBT has been a good signal for TNA. Dollars are coming into US (higher UUP) and they are not going into bonds so far.
Bot AAPL small 1/4 of 1% 112.79.
WYNN dragging me down today. Haven’t read any news, but I’m behind on my reading. Anybody?
Haha. Breathe, OA
You wear me the fuck out every time we get to these points. Years dude. Years.