This is probably the most important day here since the early August “Downgrade of Stocks for a 3 month window” bear trap. Not a bad way to scare folks out of their stocks and buy them back at a discount.
We’ve seen a similar set-up in stocks to that of the first days of August. Today’s higher low comes in at a critical spot here. I think the conclusion of today’s session will give us an idea of whether we see a volatile September, or whether it waits til October.
I took a /TF long at 1233 today, sold $CHK at $6.25 from $4.21 and used the proceeds to buy this dip in $BIDU and $GPRO. Planning on unwinding a few trades at the close as well. At the moment, the Russell didn’t follow the /NQ, /ES and /YM to this new LOD.
Curious to hear any constructive market thoughts here.
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What gives you confidence that BIDU won’t keep on falling through 100 and 20 averages. Don’t see any great price memory supporting this price. I want to buy BIDU but not sure this is the right spot. I’m open to convincing.
Balance. Looking at those averages, you’d suggest they have been relevant?
In the last two weeks the 100 has been a clear backstop. My guess it ends up the day around 171. But I see your balance argument.
I think more volume resides within balance than you’ll see at moving averages. We’ll see if it gets a reaction at all.
Missed by 7 cents. Returning my OUIJA board.
What does this mean?
Sold $MOS and $POT at open and on the fence on holding $FCX or increasing position at support level or using proceeds to purchase Dockers to soil as the downdraft continues. You still in $FCX?
Am getting happy with the amount of bearish comments on Twitter. Could be setting up for a nice move higher here IMO. Breadth not great but selling not overly quick or extreme here.
Troll sightings on the blog are a plus too…
Especially at a low.
You still in $ASHR?
Question for Brian
No, I never got in. I was being a dick for a tick and trying to catch it lower before the first gap up happened, so no fill. Really trying to focus on entries, but sometimes the ticker has other plans…
Still looks good to me tho. I don’t have my profile charts at work, but I think that one runs up to almost $28 doesn’t it? You still up pretty well on the calls?
Actually, was starting vacation and wouldn’t be able to monitor. Bot them at $1.40 on 7/15 and sold on 8/15 at 2.10. Pure luck. Would like a pullback to $24.30 for re-entry
Oh, yeah, agree with $28 profile on weekly.
all of fast money folks last night were bullish. I wouldn’t agree that the overall general sentiment is bearish.
clinging to the low-end of balance on /NQ_f, I’d like to see us fill the 8/4 gap @ 4743.50 since we’re down here
OA,
$CRM are you holding through earnings ? Thanks for the feedback
Calls, yes.
HAIN
Looking at new longs: $LQ, $NUAN, $ACHN and $MPEL all look actionable or very close to it. I am infatuated with that $LQ for some reason and I think the other will be $MPEL if it holds the spot.
Had to buy $LQ. I was having trouble settling on a target for $MPEL so I’m going to keep watching.
1) Put to call ratio just reflecting fear
2) QQQ leading IWM
3) TLT another lower weekly high.
I like the setup for the bulls here with indicies tagging lower Bollinger Band and five + weeks of deterioration in NYSI. I will be adding funds back to my trading account starting tomorrow.
Top ideas: AMAT, BABA, FB, WDAY – no interest in Small Caps going forward.
Thoughts on $DIS anyone?
I’d wait until it gets closer to $90. That’s where I bot it last time. Give it another 2 maths to get there. Looks like new highs for that one are a bit far off though. For now, it’s dead money with no momentum
Got shaken out of my X this morning so anyone looking for a buying opportunity, there you go. Will probably close green!
VRTU remains a silent beast. Bought some CHKP here and BIDU..
Aversion in IBB? Liking REGN and AGN here.
I like the consolidation in TWLO, anyone have an opinion on when it breaks out – before or after Sept expiry?
probably the day after with my luck lol – I got large bags of cash ready to average down or roll out tho – I havent lost faith
I like this pattern forming but yea, wondering if I should roll out my Sept calls to Oct for safety. Still plenty of time..
Yeh I had Sept on this last mini thrust but don’t feel like 2 wks is enough time. I took the theta hit and got the Oct 55 monthlies
Long QQQ calls for next week and picked up Oct TWLO 55 calls.
Putting TSLA back on the radar for a long trade
Bot BABA shares
What is your target ? I have some investment port. Thanks.
I would not be looking to unload any investment in BABA…in fact you should consider adding more.
If the position is a trade, then I am looking for at least $120…
Closed out $ECA for about 300% (wouldn’t have been nicer if I had booked when the trend first cracked last Thursday). And my god that $TWLO is enticing. I don’t want to add any more to the position, but I don’t see how you couldn’t.