Oddly enough, this price action resembles that which I spoke of last night. Two weeks ago, we started off with a similar drift lower to kick off the week. Then, after a few hours of soggy trade, we turned a reversal that stopped everyone in their tracks.
The same bullish divergences have triggered in comparison to those that did the same two weeks ago, and so many names are just winding up here on the day, waiting for a market push to let loose.
On the day, I am narrowing down to $UA $FB $PYPL $C $ATHM and $DWRE. These are my favorites by far.
More later,
OA
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LOADED with QQQ calls from last week. Weeklies and Dec expiry!
Yay!!!! OMG, stocks r rad!
A bunch of financials all have that same look with $C. $GS looks choice to me.
Hope all is well with you and your family this season. I like the look of all these. Except FB, it looks like it wants lower. But hey what do I know I had to go back to being a carpenter playing options on rainy days.
Looks the same as AAPL and C did on the lower time frame. I can pull up comparison charts if you like.
Hope all is well with you and yours too!
Good morning OA, beautiful note about your family and especially touching to hear about your special needs son. My 13-yr-old nephew is special needs as well and, wow, he’s taught us so much that it is humbling. Honestly, I cherish his successes as much as I cheer on my own sons’.
Been holding AMBA since 55ish and was thinking of it as a long-term hold, but this Barron’s story has me a bit concerned as they’re usually faded: http://blogs.barrons.com/techtraderdaily/2015/11/30/ambarella-q3-will-beat-expectations-decouple-stock-from-gopro-stifel/
Any thoughts? Thanks.
You think that story will have more of an impact short term or long term?
Good point. I’m just nervous because I’d bumped up my BABA long-term position when that negative Barron’s cover came out.
I did too. But how does that relate to this one?
I thought FB would have held up better this morning, but even down 1%
I’m starting to feel good about the $AMBA Dec 55 and Dec 60 calls that I have. Any thoughts going into earnings on 12/3?
http://ibankcoin.com/option_addict/2015/10/28/oa-buy-and-tuck-amba/
Bought all mine in the low $50’s.
I’m long the stock at $53 for the long term. The calls I have are 12/18/15 expiration. I was just starting to get twitchy about picking up some Dec $60 puts to hedge.
UA gap down with volume today doesn’t give you pause?
No, that was the move I’ve been waiting for to buy options.
What expiry are you looking at?
Jan
LIke the look of ATHM, may do Jan 35s rather than Dec if I do it. Don’t want to fork out for the 30s..
Hey Jeff – What do you like about the chart for ATHM? How does BITA compare?
Also why C over BAC?
$ATHM I like the last 30 days of price action. $BITA a much sloppier version if there is any comparison.
$C because $BAC is a LT position already.
Ok thanks. I like all 4 of them. I think the two China ones are going to consolidate. Seems like that’s the M.O. with these chinese internets.
Looking for a $UGAZ add possibly here. Am I psychotic? I’d hold this one to a pretty tight stop if I were to execute.
Ummmm…UA gapped down below it’s 200 ema. Not bullish, imo. Support $79 area.
Bullish.
Ya man I would love to see those charts. I had wanted to go long FB this weekend but thought that if the markets consolidate more in this range then this would make a better short
http://finviz.com/screener.ashx?v=211&t=C,FB,AAPL&ta=0
All coiling.
Volume still seems to be lacking
In…?
Geez – can’t I make general unfounded statements with no context without getting called on them? 🙂
I was looking specifically at FANG – APPL has decent volume, but the others are lagging quite a bit in relation to their 3 month averages
Jeff, I’ve heard you use the adage “failed moves equal fast moves.” How is $UA not a failed b/o move through the original July gap up at $93?
You are using it in the wrong context. There wasn’t a breakout/breakdown on this chart.
I know you you have a conviction based on fundamentals. I’m just trying to understand how to enter and exit this trade and understand the time frame you’re looking at.
Play the trend. Pretty simple. Sitting on support.
This isn’t a fundamental play here. Purely technical.
What are you finding hard to digest here?
http://stockcharts.com/freecharts/gallery.html?Ua
UA.
On a daily chart. that gap up on volume 7/23. It pings around then on 11/13 it gaps down through that b/o price. rally attempt tries to b/o through that same price range 11/20 and fails.
Again, in the context we use, there is no breakout here. That term has nothing to do with price gaps.
***stalls for 3 days and fails
long $IRBT Dec calls $34