It’s been a busy week. My apologies for going through a Fed day without a blog post. Quite frankly, I wanted to see today’s action before I had anything to say about yesterday.
Yesterday didn’t seem to pack any significant substance under the surface…unless you were long energy stocks. Everything else seemed mixed.
This week I spent a lot of time reflecting on what all my messages have been here on iBC this year, in order to put together my list of predictions for 2017. Unlike the rest of the crowd, my message remained constant dating back to fall of 2015. “This all resolves higher, buy stocks.”
In Boot Camp Tuesday, we talked about what a Trump presidency means for stocks. We looked at very long term charts of the stuff that’s had the most significant reaction to the election results. If you want a lay-up investment approach to the next 2-3 years…buy those stocks into weakness. The long term charts of these stocks are of the most compelling charts I’ve seen. These are also some of the most underowned stocks out there as well. As we looked at last night, that strategy has beaten the market handily over the last several years.
On the day, I picked up some $CTRP…looking at $MTCH and $FTNT as well.
With there being no gaps on the day today, I don’t think the pain trade discussion we had in After Hours with Option Addict is relevant here, FWIW.If you enjoy the content at iBankCoin, please follow us on Twitter
But..but chubs promised 😉
Wait wait…. We got a pullback reaction yesterday tho right? Let’s grind
I’m ok with no pain. Wouldn’t mind the slow grind
Jeff where do you see the bottom for gold ?
I believe you mentioned this level last year
Not til fall of next year.
Why then? New lows would be devastating…
Told ya. Too many people interested. I get more emails about Gold and Miners each week than anything else.
So you think the low isn’t in for gold and the miners?
Let me ask this, why so dialed into them? What have you read, or followed, or what has triggered the focus?
The setups all look amazing. Tons of them based, broke out and are now coming in to test volume based support. Look at long term charts of MUX, PVG, IAG etc etc.
War on cash means war on gold. Short it to 0
your blog is getting the views again at least. this tells me people are interested again but on the fence about pushing that buy button. Higher we go….lots of profit coming for last week and this week’s trade initiations.
Gotta get those holiday bonuses, even if you have to goose it by forcing a little bond sell off lol
anyone got any thoughts on bbby calls?
Will long-time pikers be able to keep their rates as they’ve always been in AHWOA?
Yes, anyone that gets long prior to Jan 1 is grandfathered.
Are you still running Trading Addicts as well these days or just AHWOA?
Checked out the new member registration and noticed it is cheaper now than it was in the past. Did you change what was offered under Trading Addicts?
Yep, still running TA. At capacity. Sign ups are closed for new members. The sign up you saw was for a LT product I’m adding.
At capacity because you’re restricted by GoToMeeting?
If that’s the case, I work during the day and probably wouldn’t be joining the TA Live session anyway. Have you considered offering multiple tiers? Premium tier with limited capacity and access to all the goodies, then a basic tier where you don’t necessarily get the live help.
Been outta the game too long…need my fix! (feel free to add this to your sentiment model)
No, not webinar restrictions…personal capacity reasons.
Darren – I don’t know the ins & outs of the TA service, but it sounds like what you are seeking is After Hours. I only get attend live about 20% of the time, and watch the 30 min-1 hour recording at my leisure the rest of the time. I’d imagine it would be hard to watch a broadcast of the entire trading day if you weren’t live. And you can post questions in the chat and there’s a decent chance they get answered (unless the chat gets flooded and throws it off the screen, but then someone’s usually pretty good about calling it out).
I wasn’t too sure what AHWOA was, but after looking at it, you’re right.
Was a TA subscriber from a while back, was just looking to come back to what I know, but after hours seems like what I’m really after.
China names being dismantled – again. Will these get a rotation into them?
From my Dec 9th post:
“Gold is headed for the pits of hell. Which is good. A retrace to the lows should provide a healthy bounce.”
Watching the gold bugs on their forums today. All that money (what’s left of it) sitting on the sidelines while the market makes new highs.
Look for a nice bounce in January.
PBYI worth a lookee here.
There went GPRO….was still stalking it and it just ran off with me waving goodbye
Feel like I’m playing solitaire here.. Short STMP here. Buy yourself a present from me.
got out of my GLD puts for a little more than a double. I was hoping that gold would continue to go down to 1100 – 1110, but looks like we are going to get a bounce here.
I didn’t buy enough time here on PANW – chart looks freaking awesome with the coiling action
Nice trade! I’ve got 12/23 PANW that looks shady and then I got January, either standard or last week (have to check). I agree; it looks spectacular.
Your currency trade last night reminded me of how you talked about $WFC in early November. So I have a order in to catch it if (when) it burns off a little bit of this pop today. Debating a full size order or if I should leave room to add.
My monthly good riddance expiry report:
-CRM was a moronic buy. I was mad at a mis-handled Nov expiry.
-DRE puts were $0.50 away from my target and the best trade of my life. Then textbook bear flagged up and never stopped. Luckily both $TGT and $WFC have replaced it as best already
-PF puts looked set up perfectly. I was trying to respect risk and hedge and this was a fail at that attempt.
-VXX – also a hedge, no regrets.
Sold all of my winners before this week; I had no intention of trifling with the fed given all of my longer term paper that would benefit from upside. Overall a positive expiry even with these few fails.
But Dec has done some damage to my January positions so I’ll need to see some recovery, or Dec’s doldrums will carry into January’s performance.
Good weekend to all.