I don’t want to jump a gun here, but I am hoping this late sell off in tech is the selling of FANG to finance the purchase of some ‘cheap as shit’ oil and materials stocks.
Mostly, I’ve been rooting for these indestructible stocks to crater and crush the late chasers. But then again, they’re probably a buy here.
I bought some /CL y’day and almost stopped at breakeven today for no good reason. In After Hours with Option Addict we discussed that this would be “the oil week.”
I added some $SN today and am still shopping for others. We’ll discuss oil set-ups after the close.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
You holding ONVO through earnings tomorrow after the bell?
Is TWTR in the tech group or the cheap as shit group?
The “I got too greedy wanting a break to all time lows” group.
Kind of looks like a bullish wedge to me.
So, ~15% downside here before the bottom of the wedge.
Therefore the “cheap as shit, but going to get cheaper” group.
hmm not where you got the 15% but you could be right. The wedge I’m drawing is from the 5/7 lows through todays lows and then the highs from 5/15 down.
FD:
i took a position at $17.6.
Oh…I’m considerably more zoomed out. Highs from 04/2015, 10/2016 and 05/2017. Lows from 05/2016 and 04/2017. Would put the bottom of a pullback somewhere around $15.
I don’t like patterns less than 2 years old.
what’s a good 3x ETF for oil???
Referring to the UWTI trade ? That was a gas wasn’t it ?
BLUE failing into the pocket, cause for concern? You usually say that this is the move that shouldn’t be rejected, right?
Couldn’t really figure out why $CHK didn’t follow other O&G trash like SN CRC DNR today, so I bought some.
I like CFX in industrials.
JEC- like it.
PAH
LYB
You can always have hope. ?
huh, what sell-off?
Yeah, no clue dude…I must be high.
Or nervous??
I own zero FANG, and have a fuckload of energy holdings. I’m mentally masturbating over the possibilities…
Who knows what will happen when Comey testifies.
I’m full in oil cheap-as-shit names, feel pretty confident and easy here .. hardly %down last week ..
Thanks for the ideas. XLE bouncing on support looks compelling for a quick swing.
SN HES REN CNX
like CF
CNX is interesting too
Not sure what it is but this morning action has me giddy like a fucking schoolgirl. Love my positioning in materials/energy, with a sprinkling of biotech/tech.
That BLUE was a nice call OA.
Wow. Oil. Haha.
$COG First time I’ve ever closed a call position at asking price as the stock dropped like a rock. Demand is there.
Trying next weeks Oil here.
Brutal brutal action today. Looks like yesterday’s move in oil trapped them bulls for the meantime
The spot on $SAM is spectacular, IMHO.
I may have to add a tiny bit to my position here.
CVX and HES starting to come into the buy zone.
Long $BIDU September $200 calls – thinking of rolling them forward but action in china internet names are incredible today
mmmm, that salad looks tasty.