A touch of capitulation in those names nearest and dearest, and a failed push higher here has delivered a few intraday selling extremes.
The stops are off in China tonight, and it seems everyone is selling ahead of this as it must mean that we’re heading for another nasty overnight session.
I like failed rallies like this in terms of looking for bottoming action…like we did in Late August and end of September.
Go easy out there.
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Gartman is god
My GDX and UGLD doing well today. GDX just broke out!
Picked up 1/8 positions in AMZN, GOOGL, DD, FSLR. Removed Russell hedge again by selling TZA.
Black Friday huh? So you think a big plunge tomorrow? I could see that
I am saying that the market seems to think that.
Feels like capitulation now
What do YOU think
I think the pain trade is that no crashy crashy in China tonight and squeezy squeezy tomorror
That was what I was thinking. This failed move here and capitulation bodes well for tomorrow.
I don’t see capitulation yet. Not enough selling volume. But let’s see what happens by 4. Are you buying now?
In and out of /NQ. Only +10.
Was thinking the same.
Was thinking the same until market keeps bleeding lower. Wtf. Bought the dip too earlier today
How many people are liquidating their 401Ks at the moment?
IF SPY takes out 1950 then 1970 may come fast and a good Friday
Why? No reason for a rally
Thats exactly why. But Im usually wrong so it may be wise to trade against me
All the bulls have gone away. No chatter about buying. But I’m sure if market goes up tomorrow, all the perma bulls will Saying “i told you so”. Fly will be spewing that exodus predicted it
Defending 1940 was something. R/R here is for longs. At least on a 2 weeks time frame
Wow. Just saw sune. Wtf? So glad I sold before year end. I was pissed I sold too early too. Better to be lucky
Fortunes were made and lost in NFLX this week…geez
How about FCX ? Why don’t they rally with gold miners ? Copper ?
Oil. They are now a three legged monster.
http://www.fool.com/investing/general/2016/01/06/freeport-mcmoran-incs-20-billion-oil-gas-implosion.aspx
Great article. Thank you
Watch what happens when Chinese market tries to open. CRASH. Bubble has popped and people want their money. Billions of people all at same time!! US market will go lower
Yup
Any recommendation for best tasting popcorn? I will be eating it when Chinese market opens! CRASH MODE
Yup
I love that you are the troll fluffer around here.
I’m trying to shut him up for you but guess you can’t notice behind all of Today’s massacre. Geez
Lol, I had to think for a second about what a fluffer was. Thanks for the laugh on a miserable day.
Jeff- did you add on $sune? Do you still believe in this trade?
Don’t catch falling knife
I have some $SUNE, currently smoking up the portfolio.
Man just read thru the financing details. Has the smell of a cash deficient and desperate company. L+1000 interest it’s pretty worrisome for its interest expense going forward
Smart Chief- How did that last buy work for you? Nice job smarty pants! Hahaha
Yup
Everyone trying to catch a crashing market today. Very entertaining! Tomorrow CRASH
Yup
you both fuck man butts
Another very smart person here! Hahaha
As my next downside target in oil of 32 was pretty much hit last night at 10 ish I have elected to seek some SCO at the close for 161.45.
I am effectively neutral on oil at this time.
Personally Im not going all in. Im not good at catching bottoms so buying some here and some there seems like a winning proposition until its not. Based on a chart I saw today 80% of the time years with this type of first week have a median return of over 20%. Average 13% if you count 2008 which returned negative ALOT. So unless were in for a 2008 then I think buying pieces should work.
Even worse than losing a sh*tload of money today, is seeing all the “I told you so” bear aliases come out of the woodwork.
Took a look at the chart of XBI (LABU). If it had a recent H&S the move is to 59 (another 5% down, 15% in LABU). Fib wise weve retraced so hard Im not pro enough to make sense of it but it is way below the BB. But if you look at the vol the the past 2-4 days this looks just like the “bottom” on 9/29. If balls are strong to make one more purchase -10% (may happen tomorrow) then there may be some good upside. Please let me know if I am totally off.
Well, I keep hearing this is exactly what the bears want. An opening gap up to short and fade. No bueno
yup
In a Costanza way I’m even donning my “Grizzly Adams” avatar … Enjoy!
Short the gap up. Easy $$. Not done going lower yet. Feeble bounce pre-market.
Very weak indeed
Not even sure you can call this a gap up. I was hoping for a gap down or a big gap up into a meltdown but the pain trade may be a chop.
Up nicely on the SPY puts purchased out of the gates. This trade was a no-brainier, really. Trust thy charts.
Everyone’s rooting for you.
+1
Oil bulls (currently neutral): I would take a stab using your favorite security at a retest of 32.10/ barrel.
USO moving to the March contract
Refiners will begin thinking about buying March contracts for summer gas.
OVX suggesting 6% intra day moves. It works both ways.
Use a 7% stop. Risk your amount responsibly.
Oh , and about 40% of the USO float exchanged hands over the last two days.
Thanks, quite helpful.
Nice work bulls. Anemic
Bot first leg of a Russell daytrade: TNA 51.91
Bot 2nd leg of TNA 51.34. One leg still available.
Bot first 1/8 position in SHAK at 34.76. My spec for 2016.
$LABU is right at support here, $14.03.
Long NQ 4316.
Aaaaaaaand stopped out at BE. LOL
That seems to be a theme with you and Chief the past week, no? Trying to catch the falling knife day after day? Is anything you’ve bought over the past two weeks in the green? Not trying to be an ass…just curious is all.
Yeah dude, of course.
And don’t start trolling again motherfucker.
I won’t troll, OA. I’m being serious when I ask the question and meant no disrespect whatsoever. It just seems that the buys lately are not working out and I’m scratching my head a little at the buys because the lower target supports in the markets have not been hit yet…so the buys just seem way too premature is all.
Again, sorry if it came across like a troll or whatever. Wishing you best of luck
“Aaaaaaaand stopped out at BE. LOL”
Don’t fucking worry about me. Be your own expert and talk your book up. I don’t laugh at you when your comments mark bottoms.
Does anyone have any color on $SHAK? I am poking around and can’t find anything attached to this flush. I vowed to buy at $37.50 when it was in the $70’s, so I have to buy here. But don’t want to if there is something obvious that I’m missing (other than the price action of course!)
Well that was easy money on the puts