iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,847 Blog Posts

MARKETS SEARCH FOR MEANING

Very little that’s inspiring about today’s flow in stocks. Expiration week generally leaves much to be desired, but October expiry in particular has some decent historical trends behind it.

That said, it’s also helpful that Gartman has turned negative towards stocks again.

Market structure, when zoomed in favors a decent foundation underneath current prices for the time being. spx30minToday’s close ought to set the tone for the week. $NYMO no longer oversold, but suggests upside risks are greater than downside risks here.

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26 comments

  1. wayne

    Biotechnology finally bottoming
    Love labu here

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  2. vandamme

    Who likes FSLR here

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  3. doubleplus

    The Gartman indicator is a national treasure. Would love to see the results of a comprehensive “fade Gartman” trade over the last few years.

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    • frog

      The people who have done that in the past probably have bought their own private islands with their winnings now, and are busy scuba diving, mountain climbing, swimming and playing on the beach. They have no need to trade, or to communicate with traders any more.

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  4. burrito land

    Long CMG here

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  5. ThomasJefferson

    I like the price in $fcx, but I don’t think the sentiment is there yet. Planning to wait for closer to $8.75-8.90 range to add to my forever position. Anyone else have their eyes on it?

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  6. Beechoo

    Everyone finally seems bearish. Bottom?

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  7. Beechoo

    Geez. The selling is relentless in twlo

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  8. PartTimeLover

    Someone buying MNST a few times today off the gap down
    it is at an interesting place on the daily.danger or reversal- I like the long
    Looking at an entry
    Earnings-
    can’t help myself- IBM looking for a long call play- I like that subtle touch on Oct 13
    GS looking at longs- could be to 180 by friday on the vol pocket

    maybe Harley-Davidson and Tile Shop for a symbolic play?

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  9. granpa

    took last shot at FIT 13.105, full position now.

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  10. PartTimeLover

    last add- I like PCLN higher into eps on nov 7

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  11. Nocturne

    Stopped out of TWLO from 48.70 at 44.70. Poor entry and I deserved it. Should have raised my stop last Friday at the open. If the stock was going to make the move I wanted, it wouldn’t have faded.

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  12. greenlander1

    Added more VXX puts. This is a gift set up.

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  13. Dnice

    Nflx- nice beat- you think it’s worth playing for a drift up to 130

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  14. frog

    Where is that troll who sarcastically told me last week to “keep on buying NFLX and AMZN” because he was sure I would lose my shirt on them? NFLX up big in after hours trading. AMZN not doing so well at the moment, but in time it will too.

    Trolls always warn you about things that are never going to happen. And then they disappear.

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  15. MSGT HARTMAN

    I’m adding 3 new companies to the Dumpster Diving Portfolio.

    TGT
    HES
    TWLO

    FIT, GPRO, TWTR, CMG

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    • greenlander1

      I really like this strategy. Mind sharing what are your parameters for what gets picked out of the trash and what doesn’t?

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      • MSGT HARTMAN

        I would like to see BABA make a move on TGT.

        That would blow WMT and AMZN right out of the water.

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  16. Mojo

    For those that missed the last round of winship, now is the time to sign up for Jeff’s service. Joining today will allow you to participate in setups before the big move happens, not after the room is doing victory laps after OA nails another 10-bagger.

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