After Hours with Option Addict folks, the login for the week has been posted on the After Hours with Option Addict blog.
More thoughts about the market here in a few.
OA
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Joined Aug 2, 2009
1,847 Blog Posts
Cannacord Genuity, whatever the hell they are..cut Nike’s price target from $57 to $56. Somebody has way too much time on their hands.
They prob got paid 6 figures for their efforts
Anyone nibbling on JDST here?
when has inverse gold worked at all lately.
You may be correct but on 6/16 I sneaked out $2 off it. Just looking for a quickie – nothing long term. Good luck.
QE coming?
I tried logging in about 45 minutes ago and it said that the session was unavailable. I assume it was over? Will it be recorded?
My plan for weekly calls at the right spot are quickly turning toputs. A little FOMO move into the close and I’ll probably initiate something short. If we continue the crazy line upward, I’ve got enough long exposure to make that feel pretty good too.
no its on.
thanks trashman. I think it’s going through this time.
My thoughts exactly. TLT wont go down and the bond people usually know. Need a few short ideas. Or Im just going to buy puts on IWM
the problem I’m starting to feel about that is that everyone is expecting a pullback. Market has a way to sh!t on the masses
Agreed on TLT (as Fly even pointed out). As for expecting the pullback, I predicted this yesterday: killing cubs today, grinding beef tomorrow.
This rally stops at low 4380s on NDX (~20 pts up) and ~2070 on SP500 (about where we are now)
Added some $$$ to the LT account to start a position in $PACB. Half position with intention to add around $6 if it decides to head that way.
I don’t disagree with the “not buying here” philosophy, expecting a rug pull / 2nd dip to discourage before buying. However, regarding timing, I would think it happens after the close of Q2 so we get the usual “window dressing”. I’m looking for it to occur Friday. In the meantime, I figure a slow cautious grind higher. Hence, still holding but will probably exit almost everything in my trading account tomorrow.
how soon does gold test 1400?
Long SPXS $14.55. Not expecting a huge drawdown but eyeing move to 2040.
Got taken out of this position on move after hours.
Much bigger move than expected. Holding long here as I feel the pain trade tomorrow is higher. Likely to exit my margin holdings sometime tomorrow afternoon to get me back down to 100% long.
Sold my $HTWR shares for just under a double. Your turn, $BLUE.
Did we miss the dip?
Haha. No dip. Guess everyone was looking for one
I find it hard to believe we won’t retest, at least, the Brexit lows.
maybe we do but still a LOT of people sold after yesterday’s big push higher. Those who did that got screwed it seems. Futures already 100 pts higher. We’ll see if it holds I guess.
Futures are closed from 4-5 central time.
Looks like you might have.
OA, you’ve changed your stance from yesterday of not buying yet?
No kidding. What a vicious Rally without any resistance
Have to consider that Monday was the shakeout day and we now move higher the rest of the week to test the upper part of the range.
Still thinking distribution?
Thought you mentioned we would see some discouragement? You still think that will come
Nah. If it didn’t happen then, not likely. Not sure it matters at this point…unless you’re staring at an all cash balance
Yeh. Feels like just got to let it ride at this point. No point trying to fight the furious rally
Who’s fighting?
Still looks like distribution. A close above SPX 2114 and a commitment to stay up there would change my mind. The bullish case says Brexit was a good excuse to take the market down shake out the weak hands, and create supply for reaccumulation by the Composite Operator –which means we eventually continue higher. Time will tell.
flys ark is sinking, there’s only room for one ZeroHedge on the Net.
There’s enough “Brexit was stupid it’s not happening” out there that I think we test the top of the range. This was just about almost everyone being really surprised. Even the people in England are all like “wtf?” I bought more yesterday morning – didn’t sell my ZROZ hedge but I think the Arks take on more water next two days.
this morning* shit been a long day
OA, wiggle your nose or snap your fingers and show me a 2 day market dump! Get that first rally to fail. Jumped on it a little early and of course playing catch-up. LOL
Haha. Yeh. He got everyone waiting for that fail.
I’m 100 percent invested you stupid fuck. Let’s not forget that.
http://ibankcoin.com/option_addict/2016/06/28/not-a-buyer-here/
I bought on Friday.
Bchu12,
Treasuries are up so far this morning, don’t go declaring “Mission Accomplished” yet.
Yeh I’m sure there will be a pause and small pullback at some point. But the big one may be over
Long stocks AND long treasuries has been working for me. I did go short a tiny bit of utilities yesterday and so far I’m down on that trade
It’s as if the 2 day, 100 point+ dump never happened.