I bought some calls in $SHAK at the open today for June expiry.
More later,
OA
If you enjoy the content at iBankCoin, please follow us on TwitterI bought some calls in $SHAK at the open today for June expiry.
More later,
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
OA, thoughts on CTRP? Was mentioned on RagiCajun charts and on that big monkey service. Thanks. Appreciate all your responses.
They report this week. Watching $SINA for a pullback
Was the sudden sell off due to the interest rate hike chatter the Fly posted?
watching AAPL here – was expecting a breakout with todays action, but breaking down with market action looks bad – 93 level key
The prop-jobbers are running out of ammo…we break 2040 this afternoon. Keep your stops tight boys!
AAPL LOD — still does not make sense to me that stock rose because of position purchased $16 higher.
Deja fokin vu. This market doing everyone dirty
buy it here
Haha. Dam it won’t stop falling. Nuts
ok buy here. I super cereal this time
Is GOOGL breaking below its 200 Day MA bullish? Asking for a friend…
On declining volume, yeah.
LOL, my short calls against long term hold are in the red. My long puts & calls have been ground up.
Going to open a separate account and short my long term holdings for trade around money.
Short HYG is an easy trade to manage at these levels.
I tired that for a month, but cut my losses. Even through the May market weakness, it didn’t move down much. The ECB’s corporate bond buying spree is ruining this trade, IMHO. However, maybe the trend is your friend.
Thin to win out there. Be careful.
I am looking hard at long $ALK / short $XLE for some summer fun. I don’t like how wide open $USO is above right now though. Should probably just by 3-month $QQQ calls and move on to better things.
I am a long term holder of ALK, but am unhappy with their decision to buy Virgin.
Fun market!
Long NQ
major level right here. If it holds could be good for 30pts. If it fails we test 4280
Trying to get stop to BE
buy NQ 4320
Hard to get super bearish with oil up so much
Oil is at major resistance. Longs for me are very short term.
$46 was resistance. The profile favors trend here.
I admit that $USO is an imperfect instrument, but it looks pretty wide open above on a volume by price basis.
OUt -5. This could get interesting
I think that was just a dick move by the NQ
TF didn’t follow for sure
exactly – shook out some hands and made some good entry points if you weren’t freaked out by the speed there I was just watching…
Have we met before? Wonder if you’re the same guy I follow on twitter.
Recent closes in the Dow.
Spot the outlier in DJIA closes
5/10 +222
5/11 -217
5/12 +9
5/13 -185
5/16 +175
5/17 -180
+1
$SPX bounced of 2,040 again. Good sign.
pain trade small gap down and then trend up
Let’s Review Sunday’s List:
What’s not to like:
1) Record Bond Issuance will sap what’s left of remaining liquidity (DELL DEAL)
2) AAPL’s massive QQQ weighting (UP MARKET YESTERDAY)
3) Crude buyers are desperate oil companies locking in $45+ prices (KILLS THE CONSUMER ORIENTED STOCKS LIKE RESTAURANTS AND AIRLINES)
4) Complacency (VIX SUBDUED – UNDER 16)
5) AMZN double top – look for prices to break below last week’s buy point of $696 (WE’RE HERE)
6) Biotechnology’s inability to bounce (Watch REGN after making cover of Barron’s this weekend) (DOES ANYONE ELSE THINK THE ACTION IN ABBV OR AMGN IS BULLISH – IBB IS MAKING LOWER HIGHS)
7) FinTech unwind – CIT is next shoe to drop after LC and ONDK (ONDK SUBPOENA – MORE TO COME)
8) Weekly $TRIN close of 2.17
9) Transports leading DJIA lower and confirming economic weakness (TRANNIES GAVE BACK 100 POINTS OF UPSIDE TODAY AND REMAINS BELOW 200 DAY MA)
10) Dip buying is alive and well
What happened to
“the end of the world drivel from such an accomplished professional (Fly) is embarrassing given the enormous rally you urged yourself (and most likely others) to avoid for the last three months. ”
http://ibankcoin.com/option_addict/2016/05/05/all-wedged-up-for-nfp/#comment-83488
Now if you’re just trading what the market gives you, that’s fine, but it’s a little ingenious to shit on bulls AND bears just becuase their long-term prognosis is different from what you are thinking that morning.
So what’s your deal? Do you have a 6-month view other than “everybody’s wrong” or are you strictly in it for trades?
+1
Excellent face plant. +1
IBB’s higher low from last Thursday looking good …long after hours at 259
OA, what’s your thinking behind $SHAK? Is it on a purely technical basis?
Everything I do is for the most part.
I know that you are biased towards technicals and short-term trades, but I wasn’t sure if you look at fundamentals or figure that everything is priced into the stock and stock movement/chart.
For example, I would think that a technical trader would still bias towards shorting stocks with poor fundamentals and going long on “good” stocks, and also bias towards long positions if they thoght the macro environemnt was bullish, and look for short opportunities in bearish environments.
Thanks
No, that’s not the case. I buy good fundamental companies in the bottoming stages of a market decline, and shittier stocks the higher it goes.
“Fundamentals” is a word used by sellers to find buyers.
“Fundamentals” says that $SHAK is something I would scrape of my shoe with a stick (PE way to high for projected incoem growth), so in this case, I’d be selling and you are buying.
In fact, I’d say that’s generally the case: sellers say fundamentals don’t matter because “this time it’s different”. That’s exactly where bubbles comes from.
What in the fuck are you talking about?
How old are you? 25?
Maybe I misinterpreted your comment, but it sounded like you were were saying that fundamentals is BS and is a word sellers/brokers/”smart money” use to ditch stocks that they don’t want suckers/buyers.
Finally a Lloyd I respect. Best damn bartender from Portland Oregon to Portland Maine.
Short Oil 49.16
+1
Got a feeling the prop jobbers are going to turn into plop-jobbers in the overnight session and trap all the longs that thought they were buying at support for last few weeks.
You turned on the hunch pretty fierce. Awesome conviction after Monday’s rally. What did you read over the weekend that made you change tune?
Combination of events occurred in last five days:
1) AMZN top
2) Major Reversal in Commercial RE (SPG MAC GGP)
3) Lending Club debacle
4) Near Record Corporate Bond Issuance
In addition, both lending activity and business at the bar have fallen off sharply in the last month and for the first time in nine years I have to repossess equipment from two lessees in default. While some of my reasoning is anecdotal, the massive bond issuance sucked a ton of liquidity out of the equity markets after weeks of outflows while earnings data from the retailers confirm that consumers are spent out. Commercial RE blow up has been much anticipated and long overdue while LC / ONDK and lending slowdown + failure of equipment buyers to emerge this Spring (volume down 30% YOY) affirm that businesses are reluctant to spend until political and economic environments provide more clarity.
The breakout move in Crude last week and the resulting action in restaurant and Commercial RE shares put me on the hunt for validation . Food sales data from our bar started flashing warning signs a month ago and lack of application activity and recent conversations with my customers indicate muted interest in replacing or upgrading equipment until after the election, in spite of the newly reenacted tax laws.
The decline in sales at the bar has led to decision to close this October after 39 years. Regulatory and employment related costs no longer make the business viable. Separately, a good friend of mine that supplies building materials to contractors is on the verge of going out of business due to slow sales and $500K worth of receivables that are uncollectible. Another 30+ year old business about to close its doors. Given the recent rise in Commercial BK filings, apparently many other small business owners are having similar thoughts.
Not the conditions which lead to higher equity prices….
Thanks for the on-the-ground update. I didn’t understand your about-face, either.
You seem like a good trader, and the ability to chnage your mind quickly as the data/facts change is crucial for getting out of bad trades early, but is something that is difficult for many (including myself often)
Looks like they’re shaking out the weak hands before a move higher. Short oil here and long equities is the play.
OA: buying the dip this morning? If you had to choose QQQ or TNA, going long, which do you pick? Although futures coming off their lows and would have had a better price earlier.
I still have QQQ calls for June
Buying lots of weed….stocks. CBIS and TRTC this morning
Hey OA: These are looking pretty good right now. The stock is at the top of its two month consolodation range. Are you going to hold onto these, or sell?
Cheers,
Joe