We didn’t see much of a gap up to start with. I was hoping it was a more significant gap, that drew in buyers, to get a good fast flush. None of this action has been capitulatory in nature, so until then I expect more of the same.
The $NYMO sits at -73 here today. No divergences at all to speak of. Simple grind lower to find buyers, and no buyers exist yet.
As discussed, the /ES profile is thin between 1880 and 1910.
Will float a few more headlines here during the day, but at the moment I have nada on my radar.
OA
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Cont’d from prev blog: Sold some moar SCO 181.50. Holding least amount of SCO. It is effectively a hedge against my long oil position which is 1/2 of 1%
dyou have a blog or somewhere else you post your trades ?
15% of USO’s float has exchanged hands so far as of 12:58pm
geez. a ton of bid blood sheds out there today. FEYE, UA, AMBA, all biotechs. such a garbage market
Glad it isn’t only me. In the end, rather just take the oil loss and free up the money to hit hard when the time comes. Patience is all I keep telling myself.
everyone here lost money on oil recently, except Noc.
Is FCX going to go $0? Is that really possible? I’m half tempted to buy it here but can’t pull the trigger.
It reminds me of a joke from one of the mavens of finance. Can’t remember which. “What do you call a stock that’s down 90%?”
“A stock that went down 80% then got cut in half.”
Haha. Well said.
Removed my TZA hedge by selling profitably at 58.76. Recognize that I may be early, but wanted to raise some cash.
long NQ 4211. and picked up SPY calls
what’s ur stop on SPY? got in this today as well. can’t say i’m not extremely nervous
well this is slowly dying in my face
AAPL finally finding a bid.
ES 2bot just under 93.
I’m taking back whats mine this week. Had a big morning day trading the NQ but had to post this buy as this could be the big one.
thumbs up. get ’em.
Both TZA and SCO are below my sold prices which were at 1:45 and 12:45 respectively. Would be nice if the turn has commenced as I am now long oil, TNA, & short bonds
I’m also long UWTI @2.30
This is only a gut feeling and must be confirmed with daily closing prices, but I feel if oil rallies, Natgas money rotates out and into oil. This is the thesis for my short term short of Natgas.
Wheee look at these moves. AMBA, GPRO, FIT, CMG, FEYE, LL, VRX at this rate all penny stocks by the summer.
MO RAI PM coming but not in those 3 symbols.
read (more raping) coming,
UTILITIES on the electric side seem strong,
XLU, straddled but leaning long, SLW too long for today.
Added back 1/2 TZA hedge that I sold at 58.08
Clarify: Sold the TZA originally at 58.76. Just bot 1/2 back at 58.08
it’s hard to keep up with you. Just out of curiosity why buy back the hedge so quickly?
I lost track at the beginning.
I day traded TZA today rather than scale in.
In at 56.87 and 57.45. Out both at 58.76
Back in 1/2 of what I sold at 58.08. Holding that overnight.
I am trying to catch a turn here as I am long TNA from 55.00.
Did the same with SCO, but I did not trade that one as well today.
I am trying to catch the turn in oil.
I usually do not day trade, but I am off work today so I thought I’d have some fun.
As I was typing this, SCO and TZA put in lower highs at 3:15. Thus I am satisfied that I only bot back half of what I had sold in TZA. This may be only a stop run by the algos.
Tomorrow its back at work so I’ll be slowing down!
I own 4x’s as much TNA as I do TZA.
Shopping around for upcoming chapter 11s. There will be a lot in energy and commodities. I’ve been a conviction oil bear since early last year and I’ve only traded it once. Time to get cracking.
LABU at 10.35, I want my money BITCH!
I waited all weekend for this….feels good.
lol, me too man. I went TF instead…but looks right.
i’ll be praying for incessantly for 1 day of follow-thru
That surely jinxed it
Although I am now long oil, that was a pretty lowsy bounce. Will need some material news overnight. Same goes for Natgas.
Picked up a little MS for a day or two pop
don’t be greedy, granps! just want 1 freakin day. lol
Ah clown raped today. What a month. Why did biotech get crushed like that ? And OA… my timing on UA was less than spectacular. What do you think of that downgrade ? I think its time to maybe double the position but everything I touch turns to butt cheeks at the moment.