Back in early December, we noted that FANG stocks had broken their secondary trends. When this occurs, prices are likely to head lower, until they come into contact with their primary trends.
Here’s a quick look at $NFLX, which broke its secondary trend in mid-January.
It’s hard to get real excited about this name either way here in the near term. If you are looking to get long, closer to $70 would be ideal for a long of substance, otherwise, trade around this name on its way down to support.
Even the companies that report great quarters (like LUV) have been sold off. Thinking if the same will happen to FB or is the strength a hint of 200 to come?
Freakin 1890 is impossible to break above
Bro…have you made a correct call the past two months? Accept the fact we are in a bear and you’ll do better. Short the bounces.
I haven’t made many calls in the last two months. Last time I made a market call was September. I’m doing pretty well over here buying blood. It’s all good.
That comment was for bchu not you
Nah, haven’t made a correct call all year. Yeh, my account up 2% ytd. Go figure.
For you I ask this, “Bro, do you even lift?”
I lol’d.
lol
one of the very few trades i’ve taking in 2016 was NFLX feb 85 puts via dyer440’s post. Today is finally the start of pay day for those puts.
Definitely an ugly year to be an option trader so far. Or just me. lol
Can’t buy options with the VIX this high. Too pricey.
Short NFLX til ♡day, then buy b4 the House of Cards watchfest
Bot more TLT 128.59. Increasing hedge against TBT. Sensing spike higher on Monday to sell into.
Will you hold your $SCO purchase @ ~$171 over night if need be?
Sticking with the bulls….nice reversal in TSLA. FCX going to close 5+ today. Googl looks like a buy down here at 755.
sold my nugt for 18% gain
will probably buy back on a dip or if we break 1150 strongly for another swing
Dam. Back to the line in the sand. 1880
Gold moving higher — has not meaningfully traded above 200 day moving average since early 2013. Perhaps market is setting up for a big move in the industrial metals. AA looks strong and SCCO reversed higher today. Steel stocks also look good….
$X has been unstoppable. So pissed I got my stop hit on that stock.
Tough to hold ’em when they’re in free fall. Interesting move higher in the Euro today. I am getting more bullish as the day wears on.
Equipment lending business is off and running — I review all the UCC filings each month in NY and am seeing a patter of businesses that have not spent since 2008 are upgrading and replacing equipment. My contractors are filling up their books early this year due to light winter — funding lots of construction and dump trucks (this trend started last year). Car washes, timber harvesting, etc — spending across all industries. Gonna be a monster year.
Number 1 rule with Stops. No regrets. We forget when they save our ass but whine when it goes against us. I got stopped out a few days ago on a RH short so I can empathize.