Last night After Hours, I discussed two key groups that needed a bullish response coming into today. The $SPX led by example this year with the post Brexit sell. It was a fast sell to the middle of the range. Most were looking to trace back to the low end of the range, but as I’ve pointed out in many similar instances this year, you have to play moves to the middle.
To follow up, here are the two groups we discussed. Transports and Retail. How do you rate today’s reaction?
***A QUICK PROGRAMMING NOTE FOR After Hours with Option Addict TODAY***
It slipped my mind that I have an important appointment after the close, but it would have required me to leave a little early. Rather than cut the meeting short, I am opening the session and starting immediately after the close. For today only, please plan on meeting at 4PM ET rather than 4:30PM. Thanks for your understanding.
If you enjoy the content at iBankCoin, please follow us on Twitter
I would rate it “2 thumbs up”
Yes, you hit it right on the nose, OA.
Added to BABA Sept 100’s and BIDU Aug 190’s….Burritos need love too.
Top earnings play next week.
Jefe, you playing any earnings tonight?
SQ, had FSLR, took a TSLA.
WMT buys jet.com so they can appear more like AMZN.
AMZN needs more distribution centers and trucks like WMT.
They will meet somewhere in the middle and do battle.
Sooner or later AMZN has to post a profit.
They could just merge and be Wal-Mazon or Amaz-Mart.
What’s the best website to see the individual stock holdings of an ETF?
Google?
http://Www.lmgtfy.com
Best response ever, Richard.
haha, thanks. I always google first but came across some average sites. this looks like a winner:
http://etfdailynews.com/
If you just type “XYZ holdings” it directs you to the vendors site for up to date weightings.
OA
I got $FDX 165 weeklies on monday, and the trade is almost dead. IYT action is encouraging, and hope my trade will come back alive.
Not a great stock for weeklys. FDX is a slow ass stock. Time would make a lot of sense.
Agree, thought I timed it right. mistake . I am guessing next week would start the real run , based on today’s action.
Gotcha. Options are evil, but they can teach you good lessons on timing.
Gold and silver have to be a sell here
Signed
B. Gross
Gold and Silver have been the best bet for the last 8 months, I don’t see a big reversal coming there.
As for the general market, I don’t trust this mini rally. VIX is very low. Not sure what to make of it, but if you look at the daily VIX, the bollinger bands have squeezed tight. With a stock that means a major move in imminent…
I have a feeling the jobs numbers tomorrow are going to be a huge surprise. No idea which way it goes. I’ll stick with my gold…
BTW, I got out of CF several weeks ago. Good thing, it just got killed!
BABA probing $85….they could break it higher this week.
http://stockcharts.com/freecharts/pnf.php?c=BABA,PWTIDANRNO%5BPA%5D%5BD%5D%5BF1!3!!!2!20]
PYPL trading well after recovering 200 day MA and solid SQ report…hope you guys bought some Sept calls on weakness.
Wow! FSLR getting slammed today. good place to pick some up for a trade?
that 40-42 range always good for entry.
V Oct 90 calls offered @ .08 look very appealing
Added to JDST 4.12
Hey JT – nice call on crude yesterday before the inventory report – did not profit from your call though.
tnx
Last JDST buy @ 4.05.
Lots of put buying in $GDX and others.
XPO following in the footsteps of SWFT and YRCW
Hey, good to see you here. What’s your thoughts on Tony’s market analysis from low to high this year?
an outlier with the SPX in bear while NYSE still in bull …
Per the Weekend Report:
“There is also the possibility of counting the three wave advance to SPX 2121 as Major A, the decline to SPX 1992 as Major B, and now another three wave advance for Major C. These last three waves could coincide with Majors 3, 4 and 5 in the NYSE. Should this occur these two indices would be back in sync, and the bifurcation will have ended as both decline in bear markets. However, should SPX 2335 be exceeded before all of this unfolds, then the Primary B count will be abandoned in favor of the alternate DOW count. Lots of possibilities in the months to come, while the indices work their way higher.”
Going with the flow until it resolves itself one way or the other …
See ya tonight at AHWOA
So, I used Tony as an example as to what happened to most remaining bulls. They became bears at the lows. He had said his opinion changes when we get to ATHs….as did everyone else…but most of these guys are riding the bear market call. It’s the most bizarre shit I’ve ever seen.
At least he’s encouraging readers to go with the flow (potentially to 2335) until the the NYSE catches up to the SPX though the SPX made new highs faster than expected … if the SPX should expand beyond three waves that could throw out the bifurcated market theory and make him extremely bullish I would think. My XPO worked out as expected … SWFT & YRCW are nice but longer term this XPO could be a core holding and double if your market scenario plays out.
BRF is waking up again.
I traded this back in the $30 to 50’s and made quite a bit of money.
And thanks for the webinars Tue and Wed. Looking forward to today’s after this action were seeing.
Bought FB @ 122.47
I bought August calls this morning too. Aug 125’s for 1.04
5 days in a row it fades into the bell. Buy opportunity. If I had a margin acct I would day trade this sucker. Thinking about it, the good old days.