As noted yesterday, market structure looks great this week. This should be enough to carry the /ES back to 2150, or SPX to 2155.
I like the action in crude here as well. I took a shot at it at $50.15 just a few minutes ago. This should be a decent spot to pivot back towards $51, and possibly carry prices out of this week long range.
During all the recent anxiety into a 1-2% market pullback, the inner pulse of the market has stayed consistent. There was no real uptick in correlation (which surprised me) and market speed has remained unchanged. Upticks in both of these measures will get me anxious, but market movement without them is really just a better opportunity to stick to the script and keep doing what I’ve been doing.
The only thing that’s worth noting about the market is that the risk rotation I use has been reset. Therefore, jumping into the same old dogshit stocks might not be the best move here. Start with some better names, and move to the trash as the market leaves this range.
The last two weeks were an awful stretch for me, but I’ve dried my tears and am laying the foundation for a nice year end sprint to the finish line.
I’ll discuss the road map in After Hours with Option Addict today.
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Love the positive attitude. Let’s get it
Thanks, coach.
Haha. You got it, champ
Ho Wee Cwap Mon,,,the last few months every move I’ve made has been wong….I’ve done substantial damage to my account…my confidence is shaken…I need to reup and shut up…like I’ve never done this before
Is your name Lee Wong? If so, that’s your problem. Change it to Lee Wing or Lee Right or something.
lol, love the al bundy pic!
$GRUB looks like a short to me and would fit with a rotation away from degeneracy. Imp. Vol. isn’t terrible.
Closed $YRCW today for a decent win. Looking at $TGT, $FLR, and trying to scout a few other old man names to deploy the proceeds.
Frisky pot stocks today!
$TMUS has nothing but air above on weekly.
Not that it matters for a trade but thinking of adding it to long term portfolio
Check out the Jan 55 calls in OI
I just bumped into $NVDA. Holy cow. There’s some enthusiasm for you. If it firms up a lower high may be another short potential.
WB NOW WORTH AS MUCH AS TWTR….
THANK YOU VERY MUCH….
I don’t have BABA, and like to start positions.
If I start here, do you think still fine entry for long term?
Thanks!
Here? Stock has been going up every day, YTD.
Here is a good spot for long term? Passed on it at 60, 70, 80, 90…but 100 is a strategic price?
That sounds like a resounding “No”
How long have we been beating the ChiCom drum? Ever since it wasn’t cool to own ChiCom companies…
Right after they sold out of them for losses I recall.
Thanks! It seems stay strong/up trend, so not expecting near term meaning dip to buy.
Sometimes “buy 52 weeks high” works well,
so just wondering. I will wait to see ER then.
Will SOHU and CMCM break out of these wedges…
I think RENN is giving another opportunity to enter before going to 3
OA – thoughts on CMG weeklies? Earnings next Tuesday….looks like a great spot. In with the 400s
CMG looks good? Sitting at multiyear lows. Unable to sustain any strength?
guess not a great spot for a long term play, but I’m just playing for a short term bounce – i mean, i have 3 days…
Congrats if you made the trade!
thanks – took out at $404 – got out early per usual but cant complain
i’m holding til 425
gl if you have weeklies lol
common shares
Do I sound crazy if I say I like $LULU here ? I would love a 50 though.
$PM is interesting as well.
PM is bear flagging … a rate increase and down she goes
AGU consolidating, ready to pop, at the bottom of the channel right now…
These look pretty interesting as long term plays
OA,
Thought you might find this interesting
http://graphics.wsj.com/passivists/
Hey OA,
Thoughts on HAIN here? Get some on a pullback to 34 or do you think it needs more time?
Why HAIN?
Hey OA whats up man. A little late with this post but I picked up some some LXU and AEG after running a screen. Would you call this bottom feeding? Haha…still holding CORT as its fairly maintained and KTOS as well, thx.
Can’t find anything to get excited about.. a couple weeks there were dozens of setups. CBRL has bottomed but not making much of move upward.
Market still has legs, VIX still elevated. Needs to drop to the 12 level before it turns back down again.
Why didn’t I buy FSLR
Long CSCO Jan 31 puts here
Oil is back. But the carnage is still fresh in the minds of those that went long all the way from 80 to 40.
$60 Bbl is the target the American oil industry has picked as being optimal moving forward. This of course bodes well for the market. The Santa rally will be epic.
Garbage is back – PLUG,FRO,YGE …
Thanks for getting back OA. Purely because of the area on Hain. Right at the lows from back in February now
If its only location, I’d have to love the stock too, IMO.
Makes sense, thanks for your input OA.