Feels like this last week has been a time where participants have all moved to one side of the boat. The anticipatory action in the $VIX and now $CPC are a decent tell of what the expectation is here.
Small caps are strong, oil and banks are bid, speed is at multi-year lows and correlations are down. Should be an interesting week next week.
My trail stop hit on NQ this morning for a +46. I’m in again here at 78.
OA
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tough crowd today
Any thoughts on INTC long here?
I like it.
I was on a monster run in the front month / weekly options account up until last Friday. Been a tough week. Need to regroup and get back on track next week.
give labu a try again?
Maybe RTH instead.
I’m having a tough time discerning where oil might go from here.
The play yesterday off that 50SMA touch and some fibs that I look at played out like a dream today, but while I think it still goes to $58 or so, I’m wondering if it might go lower first.
1,500th blog post. Well done.
+1
Thanks bud, wouldn’t have known.
I am seeing positive divergences in some of the stocks I track. And the whole Brexit thing smells like a bear trap. VXX, GLD, and TLT could collapse if it fails to occur although I believe they would still be buys.
Sold $FEYE for another 10%+ trade and nibbled at some oversold $BIIB.
Besides HALO, I also bought VTAE, and BAC calls. Hoping to get in on RIO and KATE with a few of you, and waiting on a slightly lower fill (which I might regret) on ETE <- looks like an interesting energy catch up play
Thinking LABU too along with another person who pointed it out. Down $2 almost from yesterday’s sell. Thoughts?
Each time we get down here, I usually have the same thoughts. Easy to manage down.
Would love to see 25 but this may be the spot
Closed QQQ Aug calls on open. Still bullish long term but gonna wait until before Brexit to go long.
Our market is starved for investable data. More significant than the much anticipated Brexit vote is Tuesday night’s earnings report out of FDX…look for the media to focus on the magnitude of the miss and ignore the forward outlook. The ideal setup is a big down open on Wednesday that turns into the mother of all short covering rallies. Markets tread water on Thursday and continue higher Friday after the vote.
Major Averages move 5%+ from this coming week’s lows. Wait until Tuesday afternoon / Wed morning to load up on OTM index calls. Buyers will be sitting on their hands Monday and Tuesday so be prepared to pounce on dips in large cap technology names such as AMZN (ideal entry 680) / AVGO (148) / CRM (77) / EA (70) / AMAT (21).
+1
ES 2030 or so would be an ideal entry point.
Fedex not as important anymore due to Amazon stealing biz from them
Appears that Plan B – Gap & Run 5%+ for the week – is the new operating thesis. There were some major blocks traded in EZU and EWG on Friday along with size call buyers in VGK, EEU that affirm the futures action tonight. I read somewhere that cash allocations are the highest since 2001.
Hedgies and Bear Shitters alike need to get busy buyin’ or get busy dyin’ customer the FOMO train has left the station. Don’t let some bullshit algo keep you out of this market…
Are we selling this gap up? Still uncertainty out there.
Bought $LABU on the open and added to some small oils. $EVEP $LGCY $BAS
Any thoughts on NXPI long?
Bot GWPH shares
I went into 100% cash early last Thursday, it’s hard for me to chase and go long here. I’m sitting on my hands.
Wow, why?
I just wanted to wait until the England vote was over and go from there, obviously I wish I stayed long.
$TWTR chart starting to improve….
so quiet today…
What does that tell you?
A lot of us missed out on this gap up I think.
Not me. My main post last week was to take the long on Thursday. Sorry you missed it.