$SNAP saw another early pop, then a slow fade.
Today, it will apply a little more pressure into the close. Not too much as to make them scatter, but enough to make them sweat a little.
This one is my favorite move. Set’s up a good Wednesday move.
Still 74% bearish and as you know is the stock with the most eyeballs locked in.
IWM sweeping the leg
…..dont kill me.
Not the same pattern.
I’m just going to trade mark my stuff and have my lawyers contact you.
I was hoping that it would be obvious that I was joking but given our track record of being on completely different pages I should’ve known better.
overall market red not surprising given the extreme elevated level of comments in your blog posts yesterday. Your followers have returned.
Grabbed some AMAT weekly puts as it traded below yesterday’s low. Picked up some LIVE shares.
I kind of like the bearish AMZN bet here now after rejecting new highs and taking out yesterday’s low.
(sweep the face?)
WTF happened to BAC?
Stock split? Must be news?
N/M, it’s not just them. The whole sector is hosed.
Just got dumped .40 below 20 once again.
Sweet, we have a reporter.
Lol
People aren’t used to the market going down anymore. lol
does RED mean good?
Yes, in China.
SNAP stroking the leg here…
LAWLZ!
DEPO and JWN here. Lay ups.
dam. TWLO doesn’t give a f*k about anything.
sell all your twlo and buy snap with the proceeds, you’ll probably end up much more positive a month from now.
these broken IPO’s are such teases. Have Apr TWLO/ ACIA. Theta getting smashed but setup is still there so must hold.
I never thought about how price action would keep both sides engaged, also very amused by StockTwits. Never been on that site before.
For a dog, you’re pretty smart.
OA, as you know I’m out of my BIDU calls. Do you like this area today to get back in? Still thinking 185? Thanks!
What did you decide?
Didn’t get to decide. Took a work call and concentration. I’ll see if we open lower tomorrow and jump back in.
Lost concentration that is …
Snap safe haven
Added a little to $SNAP on the dip under $20. Still room for one small add.
Also grabbed $ONCE calls, as it was responsive off the lows and trying to hold long term trend.
I’ve now deployed all my $LVS and $GOGO proceeds (except that little bit of room left for $SNAP), so I’m just watching until I sell something else. Still sitting on a good cash position too.
I’d really like to open a long term $SWN position in equity too, but that account hasn’t got much room left, so I have to decide if I want to max it out.
GLD topping out here? If I were inclined, this would be a good spot for a short
Given the lively discussion yesterday you have to just look at this action in BIDU and laugh.
THE JINX IS UNREAL. ONE MORE AND I WILL SEEK A BANISHMENT PENALTY.
Fuck that, one more like this and I’ll just banish myself. No need to bring the good folks of this blog down with me.
Eyeing some end of April CENX calls
truly amazing at these daily sentiment calls….bravo sir
amazed*
Kinda liking the SKX chart
on the long side- the completion pattern forecasts a gap fill..in the 31’s
maybe it is affected by NKE eps
howz about that STZ- the thought police jammed it up –
in some BBBY
Bloomberg:
– Could this mean the reflation trade is off?
– Financials leading this down with a rally in treasuries has people bearish
– Is the market entering risk off mode?
ONE FREAKING DOWN DAY OVER 1% SINCE OCTOBER
People still waiting for the other shoe to drop.
We must go higher, muuuuuuch higher.
109 trading days since the last -1%. 9th longest streak since the 1950’s. Gotta go back to 1995 to find a streak longer.
Everyone selling financials to get back in SNAP right?
today’s $CMG feels like that time in 2014 when $DE saved us during a bloody stretch.
Well, you called the $SNAP close. Tomorrow should be interesting.
Trend day. Gap and go.
20.80 in after hours.
If that’s the case tomorrow, I’ll buy the gap and go
Pro Tip: Thursday and Friday were cheaper.
true, but I do not mind missing the top/bottom as long as I get the move right at the end. Moreover, the overall market correction today forced me to stay on the sideline on that trade.
This is 100% not a market trade.
We just trade differently. I believe this thing will fly tomorrow if the Market is up, or it could turn into a damp squib if we get more selling like today. The 60 min chart looks super bullish though.
We are. I believe this thing flies regardless. This stock has a bigger audience than the market right now. When it inches up, it won’t matter. It’s very vulnerable to upside.
OA – When you say Thursday and Friday were cheaper… do you mean last Thurs/Fri? Or are you insinuating that this upcoming Thurs/Fri should be cheaper to enter a position than tomorrow (i.e. Wednesday)?
First time commenter… everyday reader – soon to be Exodus subscriber.
Thanks OA!
Pro tip: “were” is past tense
1) last Thurs/Fri – before this trade had 40,000 people looking at it.
2) Exodus/Pelican Room are great. if you’re new-ish, also consider subscribing to AHWOA. It’s an investment in market understanding, and you’ll get to learn about how trading actually works. Also you’ll probably make a bunch of money, but who cares about that.
Thursday and Friday is where I was loading up.
on cnbc, 50% chance that SNAP gets to $24 in 4 months…
http://www.cnbc.com/2017/03/21/will-snap-hit-24-dollars-in-four-months-options-traders-say-its-a-coin-flip.html
Nailed it !
19-22
Lovely
Regards
Chuck Bennett