This is the stage where it’s much easier to get bucked off the market here and miss a good move. Last week I talked about the idea of hedging or reducing exposure as the 20K headline gives me anxiety.
There are some names I like, but I’ve been doing less here thus far this week than normal. I like that there’s more leadership today and the Russell has some relative strength back today.
I’m long NQ at 5084 and hoping we close down here at the lows of the day for this to work tomorrow.
Have my eye on $PBR, $YY, $AMBA.
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Picked up some $SRPT calls earlier and staring at $DRYS. Like looking into the sun.
Bidu weekly chart on the verge of a huge breakout. Xrt bottoming here. I like xle calls
nice call on pullback.
Jeff, do you like retailers $SHLD, $JCP or $TGT here?
Two of those are in my possession.
Dip buyers are getting weaker and weaker, but are not capitulating just yet. This is not the time to be long anything, except EUR, Gold and Silver.
We need to see some panic setting in among pikers before the BTD trade is deemed good again.
Tell that to my three-digit gain today in LABU.
I mean 4 digit gain.
well good for you
Hell yea me too!
Buying the dip has been awesome for the last year. It was deemed good in March last year.
Sure, but does history repeat itself? I don’t know about yours but none of my technical or sentiment indicators are in BTFD territory.
XLE and XRT dip buys today.
XLV and XBI were last week.
They were going off last year. You’re a little late to the party is what I am saying.
I hate to point to retards at zeroedge, but one of their article shows a chart that is quite telling regarding current sentiment:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/01/15/smart%20vs%20dumb%20money.jpg
Looks like the smart money largely missed out on the 30% move from 7/16
true
They pitched the same stuff last year. Sorry, can’t give them the click.
Added to DSW… tempted to add to YY but she’s burned me before so I’ll wait.
What a day. Nasdaq is now green – so much for closing at the days lows.
I bought three ticks off the low in the NQ, so I’ll live with that.
Fok. My calls didn’t fill.
Nice work, OA
Does that worry you? You made it sound like you would have preferred that position to close today flat.
Friendo, I don’t worry about anything. Except what the misses is going to yell at me for, getting kids to and from activities on busy days, or the weather when I have things planned.
In the markets, I don’t often put myself in a position to worry about.
In regards to what I wrote…Knowing how you’d feel about a market that closes on its lows gave me thoughts of confidence. Either way, my long just needs higher prices…which seem to be working.
I got it. It just seemed like a strange comment and with you there’s always a deeper meaning. I wanted to suss it out, lol.
I’d like to think I’ve come pretty far in the past few months thanks to your help – yesterday and today would have normally thrown me into a panic but i’m calm as a cucumber. For that, we thank you.
There is a cyber executive order die to be released this week – will look at focusing federal efforts at supporting private sector critical infrastructure
there’s one more good run in this. not quite enough bragging and the strike purchases haven’t been really OTM yet.
Love the cover pic.
Absolutely, one of my faves.
OA – You mentioned not picking the grandpa stocks in a sector you feel will turn like XOM and energy (especially b/c XOM lead for so long last year). Just curious how PBR differs. Is it mainly because it’s down so much for all time highs?
Thanks.
A 10 yr chart will be a better view of how these two stocks differ in overall context.
Yeah that’s what I thought.
OA – One other thing, sorry. What do you think of the charts of CBMX and EGY? Is EGY one you would prefer in the oil space over a XOM? Thanks.
CBMX looks sorta interesting. I’d be interested to look up the company.
Yeah it’s a basement dweller with a low float.
So in general in this phase of the oil rally from the lows last year you’re targeting the smaller or more beaten down ones right? I have a position in EGY and LGCY which are basically just holding water. My XOM calls got blown out.
At the oil bottom last year, that’s where you start with $XOM, $CVX, etc. As the run matures, you gradually get more aggressive. It’s a risk rotation theme I teach in my stock picking course.
Interesting. Where would PBR and FCX fall into the theme?
I take it for the biotechs right now, if the sector has officially bottomed we should be looking at the bigger ones right now like JAZZ etc. and doing the same type strategy?
Thanks again man.
Hard to provide an answer in a blog comment reply that will encompass all of that.
And I guess if this is the case then a stock like CBMX would work better later on right?
Seems like a lot of shorts have engaged past few days and more piled on today. Hope that close wasn’t too bullish.
Meant to say ‘seem to be bullish’…
OA – been following your long EUR trade, seems we’re around the mid-point for the last 2 years with a little volume pocket above (depending on time scale). are you expecting a move through here?
Yeah, I think lots more upside from here. 3 more months min.
Bought BIDU calls this morning on the pullback
me too. i bought friday’s 177.50. oversold reading.
I bought next weeks 180s. Been screwed lately on buying current week expiry.
Is the $TGI weekly chart a hot mess or glorious setup? It looks to be right on the edge of both to me.
Today’s candle looks like indecision as to whether it wants to breakdown again.
Anybody long FB into earning? I am long term long.
I am retardedly long in FB. I’m looking at a timeframe of years though, so earnings don’t faze me as much.
Same as here. Still I don’t like to see green before ER, which tipically negative signal, so I took off a little. Will see!!
KMI for April/May expiry looking like something I may swing for
Anyone interested in AKS here ahead of yellen?
Seems like its getting dumped because traders are fearful of getting caught with their pants down if Yellen surprises with a hike.
OA – Thanks for the replies. Looks like some of the big pharma / biotech is starting to move.
Yeah, timely double down last week.
Good stuff. I bought labu at $36 thanks to your nudge
Yo, time to buy FRO.
Vix briefly went below 10.
Was waiting for a compelling opportunity to close a long term position in IWM…. really like the look of $CGI on the long-term chart, so I closed out iwm to open a position
Picked up some of that low float cbmx yesterday and today. Nice base, substantial short interest
Are you wearing a wolf mask? 21K shares?? Money better spent on Girl Scout cookies.
Retail and restaurants getting no love today. Thought consumers were optimistic?