Biotech acts as if it will never trade higher again. I’ve been riding $LABU at $6 for what feels like the better part of the year. Might be time to cut ties and move on. Too much bad press. Too many landmines. Too many eager beavers to buy in.
My trade plan in $CMG last night failed, as I patiently waited for a little selling at the open and for prices to touch down at $470. I’m still sitting here waiting for that print. FML.
Now I sit here, waiting on the Fed. Not much else on my screens at this point. I bought Apr $TWTR calls at the open and $CIE stock. Hoping to book $KMI and $NFLX calls later today.
OA
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What’s your best guess on how the broader market trades after the Fed? A few posts ago you were looking at breadth and felt it was setting up for a possible inflection point upwards. Is this still the case?
That was looking at the longer term market set-up here. Be a buyer of dips.
Really like the price action in NFLX – now trending above balance
A snoozefest b4 the Fed & it will be a snoozefest afterwards. Long my portfoilio. Neutral energy. Short the long bond.
Come on EYES bounce back up!
You don’t think the target for cmg to be much higher? I was only able to get in a little as I was saving my second half in case of another dip, which doesn’t look like will happen.
? Higher than what?
$500
OA – Can I pretend $XBI is still holding the low end of it’s trend or am I kidding myself? There’s still enough premium to sell next week’s calls and salvage something, but I imagine decay is going to end that quickly if bio doesn’t wake up.
Pretend away.
Xbi just fell off a cliff
OA- I’ve noticed you and @Autumnalcity87 on Twitter have had a lot of the same analysis over time. I really like following him as he kind of reminds me of the way you teach TA. He a descendant of yours?
Yeah, he was in my trade room and webinars pumping my shit onto his feed and followers. Very flattering.
“Pumping your shit” lol. I can tell you are thrilled.
It’s happened so many times over the years. Some that have become some big names out there too.
Would love to hear sometime some of them. I am sure you do this because you enjoy teaching. You could make your sole income from trading but many of us are glad you take the time to teach.
Lol! I called him out on Twitter for doing that and the pussy blocked Me. What a loser
I fully believe that CMG can serve (and has served evidently) norovirus on a soft taco topped with crappy guacamole and the stock wouldn’t be affected for longer than two heartbeats. Virus, earnings, mediocre food.. nothing seems to make a dent. Incredible. Not long or short.. though I missed perhaps the easiest day trade EVER this morning. Hammer candle and W pattern on 1 minute chart.
I’m eyeing as potential buy points:
LABU below 5.
XBI below 40.
thoughts on FEYE?
Great price action and profile. Those stocks ripped April through May last year.
no may options. earnings is after april opex. do you recommend aprils, april4’s, or go with june 20’s?
April, yep.
VR and IoT plays should continue to heat up. Liking the action in GPRO and SNE today. ATVI CSCO INTC & NVDA are other favorites.
dam, fade initial post fed move? that would mean to short
Here comes the FOMO train….look out bears
now can we fade the fade??
How to make money. Find a beat down stock on a beat down day and beat down after hours. Put in your buy order at market the night before. At the opening bell the big sellers will be first in line driving the price down while us poor schlubs buy orders execute at the bottom.
It worked with FB and CMG. Use the market against the high volume traders.
That only works if the stock rebounds. Sometimes a beat down stock continues to get beat down. But everyone has their own system.
Hope you guys bought some lotto ideas pre-Fed
Hi OA, quick question for you. In regards to your discussion last night about larger biotechs converging towards their longer term trend, were you saying that’s a bullish set up? And as a follow up, should we wait for confirmation on a breakout over the trend line?
Thank you in advance for you question, and an even bigger thank you for opening up After Hours to everyone. It is much appreciated.