The market is seemingly uninterested in your FANG stocks, its all about the materials space. So many names up 5% or more here, on a big gap and go open for this sector.
Last night in After Hours with Option Addict, we did a top down of this sector, and singled out $CC, $PAH, $AA, $BBG, $CLF, $CMC, $FOE, $GGB, $HSC, $IPI, $POT, HUN, $TCK, $OAS, $PBR, $VALE.
This morning I am long $BIDU and $AAPL calls as well as shares of $CC. Still holding my $ES_F long from 1869 yesterday, and stopped my $NKD_F for breakeven last night (currently flat).
More later,
OA
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Bot more DUST at 8.37. Admittedly I underestimated the ferocity of the GDX squeeze. I am effectively neutral GDX now.
You were right about getting back into $SCO in the low 150’s.
Lot’s to like out there today. Great calls on FCX and X and banks and oil. Lot’s of squeezing too
Perhaps a rotation out of retail to bio too? Can’t remember last time when all my bio watchlist was green.
is AAPL not a fang stock?
When did they remove $AMZN and replace with $AAPL?
Matt – I made the same mistake as well
Bought XLE Mar 50 puts…added more TSLA 200’s for next week
In a lot of LABU. This is a the best setup for biotech Ive seen since end of Sept. The positive divergence if it takes hold could make for a big move.
still don’t trust that sector. but if it gets some momentum behind it, will run fast. but feels like a falling knife with all these political heat surrounding this sector.
thoughts on TSLA? chart has similarities to last year’s googl/amzn/aapl channels. wondering if this is the time it breaks out.
It’s gotta get back up in that range, stat.
180ish?
MNST is dipping into that volume pocket not much support for a long ways….
Where do we stand on GLD being stretched – if I am not mistaken I heard a “careful, it’s a day away from being overbought” (paraphrasing). USD move is pretty amazing but I would expect some sort of bounce before a Fed member makes a dovish statement.
Dollar should move to the lower end of its range, at which point a Gold short would make sense.
Is gold a fear trade or Dollar trade?
Dollar right now
Great question.
today’s action feels a lot like last thursdays action. rallies that gets faded as longs scared to hold. and then Friday, market took off without everyone.
Dude! Now you’re starting to get it.
lol. #highfive!
XON flying. Bios are back.
TLSA pushing HOD … get some!
AMZN is pushing the highs too. But I’ll take a big day tomorrow to reload on shorts/sell some LABU.
USDJPY is worrisome
@bchu that is what BoJ is saying, lol.
Can’t wait to see where the day ends. I get the sector rotation but many quality stocks aren’t participating. Except AMBA which actually built a little base, broke out, consolidated and is staying there. Thinking of taking a stab if we get an ugly close.
$vix still pretty high to be buying options, no?
Depends on the stock. For example, the $VIX is implied volatility on the $SPX, not $AAPL. Stocks that have digested earnings obviously have much cheaper options now than before.
yeh, options for SPX are thru the roof right now.
Yes, I understand how the $vix works .. Just thinking that because I saw you make a comment to matt_bear about not buying options with the $vix so high
Yep, he said it was hard to get traction…as it should be with all the volatility (high $VIX). Options are easier to play when the market is simple. Much more difficult when its fast and volatile.
$AAPL paper is super cheap: http://ibankcoin.com/option_addict/files/2016/02/2016-02-04_13-00-51.jpg
Anyone like JOY here?
tis market sure doesn’t want to commit one way or the other.
Action today in /NKD surprises me, but I still am looking for a move up to about 18500.
nasdaq is going to get monkey raped tomorrow