Take a swing here. McClellan approached -80 today. Market range in tact. At this point, one should not fear Brexit as much, but rather should fear that it doesn’t happen.
This is another market inflection point here. The Nasdaq is trading right back into May’s balance. Might make sense to nibble if you haven’t yet, very easy to manage risk here.
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The US markets look strong in light of the overseas choas, so I see the long call. I’m not sure what you mean by this: “At this point, one should not fear Brexit as much, but rather should fear that it doesn’t happen.”
Are you saying that the US markets would rise with a BREXIT and fall if Britain stays in the EU?
I think he means that the fear of Brexit is priced in at this point. You should be afraid if you are positioned for Brexit and the vote fails.
Loving me some IBB & ICPT down here —
Too funny. With you on LABU also. Good luck!
Agree 100%….In $ICPT here as well
In your opinion OA, what areas/stocks do you think have potential beyond just a few days/weeks? For longer-term investors do we stay with quality like a GE or consider other areas?
80? I see 60 but not 80. What time frame are you looking at? IBB does look good here. Smack on POC.
I said it approached -80. I saw -75 in the first hour.
The chart I looked at hadn’t updated from yesterday.. my bad.
Mine fluctuates intraday.
Anyone in EXAS?
This could be the year of the tech turnarounds:
ZG
YELP
LNKD
What’s next? TWTR?
Bought some CMG and GOOGL here.
OA – you are the man.
Grabbed a $QQQ yolo. Looking at rolling out $NMBL as my fuse runs out tomorrow.
Rofl great pic
Brought a smile to my face, too. (no offense, bchu)
Maybe my eyes are deceiving me, but LGCY looks pretty incredible right here.
is that bartolo colon?? lol
bought NFLX calls – looks like this is the bottom (for now) with upside to 97.
I know this is anecdotal especially if youre just trading but many of my friends are canceling their accounts. Price increase. Not many great original shows (unlike Amazon, or Starz, etc). Lots of options these days. Especially if youre streaming which most do
Lol. This is a pure reactionary trade that will close tomorrow, but I think NFLX will transform into the “new cable” by kids don’t ask for directtv- they have NFLX
“Reversal day today” – awesome call OA
Let’s not reverse back now!!
ugghhh…tug-o-war again
Sold JDST 11.44
Nice! Almost followed you, damn.
Out of JDST and LABU. Nice day for a change.
OA, can you explain what you mean by “one should not fear Brexit as much, but rather should fear that it doesn’t happen.”? I’m not trolling by any means, just trying to get some insight. Thanks in advance!
Seems pretty clear that he was just saying that the Brexit was getting baked in. Remember that you can (or should) fear a move to the upside as well if you aren’t participating or are short.
With the VIX in the 12s a few days ago, BREXIT was clearly being ignored.
The S&P 500 is now within 3% of an all time high: if this is pricing in the near 50% chance of a BREXIT vote (from polls), then the market is saying BREXIT doesn’t matter much for the US equities – in which case a non-BREXIT vote shouldn’t make much of a difference, either. Is this really the common view of investors, that BREXIT doesn’t matter one way or another?
I think this is another example of the investor class vs the plebes. Investors know BREXIT will jolt the markets, so they assume that the polls are wrong and thast BREXIT really has no real chance. They are totally forgetting the lesson that Trump’s ascendancy to the nomination has taught. Look at what the bond market is doing compared to equities. Which group tends to be right?
A stay vote may lead to a grind to new all-time highs, but BREXIT will be a quick elevator down from these levels.
OA was totally right in his reversal call: I wasn’t trying to deny that.
I went long into tomorrow’s expiration (there’s a contrarian warning for the veterans), but will be short again next week, particularly if the VIX drops below 16 (complacency).
Bitcoin wants MOAR
I just printed more Monopoly money. Bitcoin is stupid.
Take the profits or let these QQQ’s ride?
Hope it holds for ya! https://twitter.com/OptionsHawk/status/743542353923833856
I bought a solid batch of 115 QQQ Aug calls (I buy OTM options maybe 5% of the time) and closed my SPY short today. Daily and weekly chart looks like consolidation to ATH. I don’t know when but it’s tightening up more and more.