First, I have an appointment later today. This is why I am cranking out useless posts early. Compensating for my absence After Hours. Yes, unfortunately, After Hours with Option Addict has been canceled today. We’ll pick up again tomorrow. For those of you that are new, might be a good opportunity to catch up on one of my archived Crash Course sessions. Go into the Technical Analysis sessions on the right navigation bar and pick a topic you feel you need help with.
Second, Boot Camp starts on Monday. Here’s the weeks lineup, and meeting times. Wednesday’s time has to be adjusted for a commitment I cannot get out of.
- Monday 7PM ET: Analyzing the Sector Rotations of 2016 and What to Expect Heading into the Fall
Tuesday 7PM ET: Beyond the S&P: A Look at Global Markets in Turmoil
Wednesday 6PM ET: The Scariest Charts Heading Into Year End
Thursday 7PM ET: Will Silver and Gold Collapse This Fall or Continue to Shine?
Friday 7PM ET: My Single Best Idea for Q3, and How the Elections Will Affect Your Trading
Sign up here if you’d like to attend. It will be an interactive camp, one with many predictions, but a lot of application to the methods I use and apply to my analysis and trading.
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Intraday action on FIT is unusual – decent volume, but price was pinned for 2 hours and still really hasn’t moved away for the 15.05 line
Short $DG.
why $DG?
A few reasons: it looks tired; there’s a dent in the profile below; volatility is cheap; upcoming earnings; if animal spirits start to emerge, rotation out of defensive names seems likely; I’m pushing my risk tolerance on the long side and wanted to introduce a tiny bit of balance from higher prices; and (emotionally) because my last short, $MAA, which I never initiated, did what it did and I’m pissed for not taking it.
Rig anyone?
Bought more V Oct 90’s
Bought more SBUX Sept 60’s. Max position.
Added another 40% to my supposed max SBUX position…lol
you have a problem…..
why the 60’s? the 57.5’s are up nicely from 13 cents to 66 now. 🙂
sorry i was looking at wrong date. sep’s are 40 cents now.
I’m a leverage junkie…
I think you are using this to fuel a carmal machiato addiction…
adding to $TWLO calls here end of day or waiting towards later in week?
Administrivia question—are the boot camp sessions archived in a useable format? I have a couple of fantasy football drafts next week…
Recorded and sent to you to download and keep at the end of each session.
Check out this bio: $OSUR
No Zika for you!
Is this the longest we have gone without someone asking why is {stock X} going down? or should I sell {stock x}…..
It’s the longest bchu has gone without bitching about oil. Means it getting ready to crash soon, lol.
You think oil gonna crash???
You nailed it
Just a rollover. I’d still try to buy this move down. POC is close.
Good book to bill but semis look extended…I sold my calls in to the lift in AMAT shares – so much for betting the house on the group. Instead I am loaded to the gills with V weekly 82.5’s / next week’s 84.5 / Oct 90’s and the aforementioned SBUX position.
SAN JOSE, Calif. — August 23, 2016 — North America-based manufacturers of semiconductor equipment posted $1.79 billion in orders worldwide in July 2016 (three-month average basis) and a book-to-bill ratio of 1.05, according to the July Equipment Market Data Subscription (EMDS) Book-to-Bill Report published today by SEMI. A book-to-bill of 1.05 means that $105 worth of orders were received for every $100 of product billed for the month.
Adding WUBA tomorrow, nice chart and short float is 71%
https://postimg.org/image/pfokanae5/
Copper breaking down.still haven’t stopped out of FCX but close
Oa do you like MEDP?
Gold breaking down convincingly thru multi-week lows….risk on!
Nice bump in WNC shares this AM
those SBUX calls are looking great. I took the October 60’s.
sep 57.5’s from 13 cents to 83. A lot of time left. Let the winner run?
Hold ’em — SHAK / HABT confirming my thesis.
BWLD calls should be bought here
I picked up some of the SBUX Sep 60’s last week for .03 – didn’t load a dumptruck, but glad I dipped my toe….
and (mattbear) stop looking at the price of the option or risk overthinking and selling too soon….play what we call “No Peeky” and don’t look at the P&L.
if you can sit on your hands for another 3 and a half weeks the percentage gain will be mind-numbing.
chart pattern suggests this could be contained for another month though.
57.5 – 58 looks to be the mid point going back a year – do you believe it can break above this point? This is the question i am looking at now
Chart patterns last week suggested continued downside. Call buying has been massive in the last two days prior.
Gotta follow the elephants…even their footprints are too big to ignore sometimes.
$170’s?
you seem to be more comfortable buying near the money calls….buy what suits your style best
V is my other play….premium is cheap and 82+ print will get this baby roaring
V is slow, though – I see the rising triangle, but not sure if the catalyst to get it moving will happen…
same IV as SBUX…or you can pass. methinks the financials will get going if we see continued TLT weakness. BAC is getting an early start
Think we see 178 in V before it turns up – again SLLLLOOOOWWWW I do see your point on SBUX though – if it gets traction in the slow market conditions it can be subject to piling on…
78…
Keep an eye on TLT for confirmation of Risk On….yesterday marked the third lower high since the July peak.
Sticking with the “Better Burger” theme, WEN $10 calls might be worth a look
The noose loosens on the banks with energy exposure as crude melts lower…financials and fat bastards are the where the money is headed – invest accordingly.
$OAK.
*as TLT melts lower.
I am careful with my calls for a motivated buyer – that being said, looking at my Gucci, its about that time….
slow fade……wish a few of my positions expiring this week were doing better, but overall things look fine, especially in front of a Yellen speech
6 bad broads flying in at 9.
I fear kidstockibc has staged a coup of this blog. Anyone see OA? I fear for his safety. Perhaps he’s taken his out-sized gains and flown to Tahiti for a respite. Very suspicious.
Nothing to see here – all is well
OK… I shall put my revolver back on the shelf.
GDX/NUGT has got the look of post enthusiasm second chance stupor
Nothing like a 6%+ reversal off the highs in LABU today.
Make that 10%+…jeesh. Speed!
Look at copper crashing. Yeah, things are great out there lol.
Hope no one is long $FCX. Going down the tubes.
that’s a pessimistic view. i’ll take your shares. we can compare notes in 10 years.
LOL 10 years. No one holds that long. You’ll be stopped out by September 15th at $8.
I’d buy more at $8. My basis right now is $4.25. And the only thing that will get me to sell in less than 10 years is $32.50.
remember 8/24 last year? I recently re-listened to that AHWOA session to remember…..it was bad juju…and then OA called the rest of the week correctly….
What happened with $LABU and bio? Bastards.
There you are. Been waiting for this comment.
TICK hasn’t been extreme +/- 800-ish on the day
$SCCO totally indifferent to the selloff in copper. Copper down +/- 7% and $SCCO less than 1%.
Some gifts for all.. VRTU, ERJ, CPB… umm.. umm.. good.
Out of SBUX…bot VRX puts
mind numbing?