The Nasdaq is setting up in a fairly big broadening formation here. It also is taking on the relative strength today. Tech was mostly ignored post election, but now has started to take on a positive divergence against recent top performing groups/sectors.
The good news is, these patterns have all led to upside breakouts in the last three years. Considering this year that everyone raised cash and are now forced to buy back in…seems up is still the most painful way to go. That Nasdaq pattern puts us to 5800 as a target in an upside breakout. Similar to what I said in August on the SPX.
The best part of this, is that the breakout leads to slow grind. Those are the conditions I outperform in.
Timing couldn’t be better for a Boot Camp. Just saying.
If you enjoy the content at iBankCoin, please follow us on Twitter
I always thought we are not done going up until all techs are at their highs. We have a ways to go
Someone pass twlo this message
You should change your handle to either #timestamp or #oldfaithful
I guess if I time stamped the last 3 days of the same message wouldn’t have worked
Then the next logical step is to shut the fuck up about it.
Nothing else going on in the blog these days
You…you’re good. A name change to bottom tick might be in order.
Done
Didn’t you get banned?
Wow, you should call urself top tick
Your post was the message – very timely.
Looking at $KPTI, $OMER, $TK, $MTN, $SDRL
You’re hopping on those trains after already running ~25% ?
If you buy MTN, you will be on suicide watch.
with exception of $MTN – look at a 2 yr chart of any of those.
Any thoughts on AKS? I caught this latest run and am considering taking it off the table with ~120% gains.
The greedier part of my brain keeps reminding me that there’s not much stopping it in the way of resistance until 11 and short interest remains high.
Book it. Why not? If you think it keeps going, put on a stop.
Added to 2018 $GILD’s today.
Looking to manage $SBUX and $WBA over the next couple of days.
WMT and BBuy had some great deals Black Friday and Cyber Monday. On the other hand AMZN seemed to only want to ditch over stocked items.
Truth.
AMZN day 2 of weakness – couldn’t find any buyers and then 900,000 shares dumped .5 percent lower within an hour. It needs to probe how low the retrace is going to go. The next few sessions should be interesting. Have a put position from 770 or so established yesterday.
I did buy a Dot for $40 so basically they hawked their own wares. I would have gone for the Google Home with it’s superior search feature but they’re too late to the game. AMZN and MSFT now the tech innovators. Lets see what APPL produces but Cook is like Ballmer was, not an innovator.
I’ve been very disappointed in how long it has taken Google to integrate their products into a seamless product line, including their apps. They have made some great strides of late, but have put themselves farther behind AMZN in the process.
GOOGL would be tanking if AMZN didn’t have such large problems with their phones and tablets.
Will be interesting to see if AMZN just giving the hardware away for nothing translates into people wanting to play and stay in their sandbox…
Like any good salesman, AMZN put their foot in the door. Same thing MSFT did when they put NetWare out of business. Offer the stuff cheap, get the customer base, then take over.
GOOGL got sidetracked by the “fiber in every home” project. They were stupid enough to think that they knew more than ATT, who have been at it for more than 100 years. But talk to a software engineer about digging a ditch and his eyes will glaze over.
And now Zuck wants Internet in every hut in Africa, good luck with that.
Are you still a buyer FB? or else. Thanks!
MSGT speaks truth.
That said – as OA alluded to – this has definitely turned into an “indices grind and do nothing – individual stocks have individual moves” market.
An interesting thing about Internet access is the back haul connection. This will be radio microwave/ millimeter wave technology or a physical connection like fiber. Radio is impacted by not in my back yard and “radiation” RF concerns. Amusingly folks do not seem to fear RF from a device in their hand, only things they see elsewhere, failing to understand the inverse square law. Physical is impacted by political and zoning matters i.e. pole attachment.
I think a good infrastructure project for the USA would be working towards more underground distribution of electric power and several competing Internet service providers to residences. It’s fascinating to me how overhead power lines seem to be part of the natural landscape to people, probably because they have been around for so long.
I believe the third-world Internet plan involves flying back haul stations. This requires a lot of RF spectrum because frequencies cannot be reused as extensively, and more RF power from the user device because the back haul station is farther away. So far Silicon Valley has not changed several “laws” of physics. No doubt they are working on it.
Oil making it’s move, should stick and run to 60. Gold is next up, I just got long here GC_F 1183.5
Why you think gold gonna get going now?
Wow, what a day so far! Selling Natty NG_F +25%. On days like this I feel like I have to book something just to not get greedy. I will hopefully get a chance to get back in. My stop on GC_F is 1170.
Nothing wrong with taking profits particularly in oil/gas which can reverse on a dime.
OA. I sometimes have difficulty interpreting charts as far as entry and exit points go. I’m more of an investor than a trader but don’t like to let profits evaporate. For example I own Air Canada (trades like the US Airlines) and have a sizeable gain in it. Would be good to know when to trim and then add back later on. Can you sketch it out? You have a knack for seeing things that others may not.
Sure.
First, what did you decide about abandoning your oil positions yesterday? The timing of that comment was interesting.
After vomiting (just kidding) I decided to leave it well enough alone. Like you have said this market wants to force you to do things that you probably shouldn’t.
Liking the TSLA inverse H+S.
in TSLA 190s
I see this hitting 180 before 200 based on chart. Don’t own it so hope I’m wrong.
Does anyone know a way to trade or track uranium? Is there an etf? Not interested in physical.
Cameco $CCJ is most popular
URA is the etf, has 22% of CCJ as cascadia mentions, buy then a few other players.
Meaning 22% of URA holdings is CCJ.
Thank you both gentlemen. CCJ looks good if it can pull back a bit $8.50-8.00. EXC looks interesting long term if it pulls back under $30
So, we’re all in on the FSLR trade right?
Jeff, any thoughts on PEP here for a swing trade off this level?
Nah, I think these unwind more.