There’s a bit more relative strength into this decline today. If you were kicking yourself for missing the dip on Friday, this could be your second chance? Unless you waffle, and if you do, don’t do anything here. We need you to chase the breakout down the road.
I’m running scans here looking for new names at cheaper prices. Having this volatility happen during September expiry week is a bitch, but I am doing what I can to maneuver here and preserve premium in what I have remaining for this month.
I like the action in Retail ($NKE, $UA, $COH) and China stocks today ($YY, $SOHU, $BIDU, $YRD, $WUBA, $ATHM, $VIPS) and aside from names I currently own, I like $FEYE, $CMG, $SSYS, $TEAM.
I scratched out of some $ATW, bought $YRD and some $NQ_F at 4706 just now. $NYMO under -60 today, fwiw.
If you enjoy the content at iBankCoin, please follow us on Twitter
Paypal 38.64 $3.00 stop
Nice pop in PYPL. Thx OA for this post.
Long $NUAN
OA
BIDU is my fav here. NKE and UAL as well.
OA – does MYGN appeal to you in the least here?
I had a LT position on this I sold in Jan. It might be that detail that has me thinking I wouldn’t touch it. It should have held up much better, IMO.
Copy. Thank you.
IMAX wash out low possibly?
Two entertainment names that intrigue me (still): $AMCX and $LGF. Both look like they are trying to grind out a bottom at this point.
I kind of like SWHC. KORS, too. FRGI to watch for an entry over the next few weeks.
$SPX bounced right off the 100 day MA, just like yesterday as it gapped down and then bounced off it.
OA – I am not used to playing puts (and my gut reaction is always “I have a profit on a short? Sell!”), so I was hoping for a 2nd opinion… $CPB puts that expire this week. Do you agree that it’s a good time to sell, as it looks like it’s (bull) flagging nicely on the 60 minute? Or would you be comfortable letting it try and retest those $55 lows?
$CPB? I would say its bear flagging. Wouldn’t sell these.
Thanks. I see what you’re saying. I’m used to finding the optimistic view of the chart.
TSLA seems worth a look down here.
Long FEYE even tho I hate the stock. 14 area has been good support. TWLO looks like a consolidation and flag on decreasing volume (if I’m not completely wrong) but hesitant to put more positions on
Oh bought CYBR October 65 calls.
I had another order in for $TWLO because it looks so nice, but I had to cancel it because it would violate absolutely every rule for risk management I have in place. (Editor’s note: I still may do it!)
What is the pain trade tomorrow, gap up or gap down?
Are you a buyer or seller today?
I think gap down.. looks like sentiment is to buy this down day. Indexes as of now haven’t broken yesterday’s lows. Lots of inside candles. Nice IBB rebound.
SPX… over last three weeks the down days have been in sets of 3.. Just a curiosity..
That photo with that headline? Hilarious! Getting ready to go shopping soon.
http://money.cnn.com/data/fear-and-greed/
You got some YOLO ideas for us this week?
Anything China. BITA, YY, SOHU type stuff.
I’m not feeling it this week so I am painting the house and avoiding the casino until FDX reports earnings 9/20. Data-less markets can be tough to navigate this time of year.
Just bought a lot down the street with intent of building a home in it with cheap money. Amazing how little is required down for construction loans.
Good luck all.
Oh? Wife and I have been looking at existing homes and have recently started looking into lot+build. Appreciate a share if you have anything helpful!
Is $SPY inside day today, I’d expect gap down or lower tomorrow.
“If”
Nibbled BABA, P, AA, NFLX, RIG, and QQQ.
I’m too much of a pussy to buy the dip here. I’ll chase later. FIMO style,
Oct calls I bought before close: TWLO 65 and couple KORS 52.5s. Didnt’ see any China names I liked.
YY not?
Nice volume spike
YY was actually the one I liked the most but foudn them a bit costly end of day for a YOLO ~55
@OA: What about CREE?
What about? Looking to trade?
Wanted to know if you still liked it? I got long at $24.31.
Figured it has limited downside relative 2 the greater market & I may as well reinvest the dividends until this thing comes back.
I do, yes. Not for a trade…but for 6-9 month hold here.
Bought a lot of XIV and will add if we see a small range down day tomorrow
I can’t wait for the bottom to drop out of gold. It will end up being the buying opportunity of a lifetime. Just like in 2008.
Lol ok
You already got 1056 last year, do you think it will break down below that again?
It will be a very short lived drop when it comes. I have no idea how low it gets, but that level sounds like a good number.
The closer we get to the 21st, the more I think the Fed will raise. If they do, gold is going to get killed
Stocks will follow suit.
Scandals out of Washington are just starting to be exposed, and A has yet to drop his bombshell. My guess is that gold will takeoff when he does his leak about Hillary.
A = Julian Assange
Tasr aversion?
Lc looks good
OA – can you repost tonight’s video? Looks like a broken link.
Thanks.
NYMO 61 vs NAMO 40 = Significant Advantage to the Bulls
Takeaway from last two days: Forced selling by margin clerks liquidating equities to cover fixed income related losses. My sense market will bottom Thursday or Friday after 11:30 close in Europe.
Tells: elevated intraday put to call ratio 1.3+. VIX 22+, bidless action followed by late day short covering rally into the close. The key will be a decoupling between equities and fixed income. Not all stocks will bottom with the market so identify your entry zone and pull the trigger.
Ideas: (9/30 expiry)
NFLX 102s
WB 50s
YELP 40s
Earnings YOLO (9/23 expiration)
ADBE 102s
FDX 165s
Also noteworthy is AMAT Analyst Day (9/21)
more purging to come. We will see 4500 before new highs in the NQ but that won’t change that we are still in a bullish long term trend.
Think we tumble a little today. Always happens when I take a morning to go fishing.
Since it appears everyone is looking for additional downside, might be worth considering that bonds (TLT) bottomed yesterday and we march higher for the rest of the week.
AAPL & TWTR – today’s honey badgers.
WDAY 90s and NFLX 100s TWTR 19’s — top ideas for Friday expiration plays
Could be wrong but the action looks constructive and risk stocks are moving well. I think we rip after Europe closes. Just my opinion.
$NAMO over $NYMO — money is pouring into Nazz. Lots of low risk entries still exist.
Biotech over Burritos in my not so humble opinion.
Still margined to the gills in TWTR in one account.
Nice call in the TWTR, i was to busy putting out fires yesterday to get in.
Here’s where I recommend you step back and take a longer term look at share prices. Dial up a weekly TWTR chart and notice that shares have just re-entered last week’s range.
Downside risk is clearly defined (.70) and the upside is considerable here. Not too late to buy with 3% risk.
Bought some calls in $M
Bio looks great…long more $PTCT
TWLO having an inside bar today. If it stays that way today and breaks past 55 tomorrow can see buying the October calls for a move back to 60. Stop out if the stock breaks 53.80
Just how I am seeing it