iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,835 Blog Posts

$NYMO OVERSOLD

In these environments, it doesn’t take much to trigger an oversold McClellan. As you know, this is one of my preferred market indicators.

On an intraday basis, it saw -80 today. Watching to see how this closes and stalking SOHU, FFIV, WATT, and WFC. As a theme, I really like software stocks too.

CRM, VEEV, WDAY – I own all three.

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33 comments

  1. Jesus Of Christland

    Welcome back son, we missed you

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  2. Beechoo

    Thanks, OA.
    Glad to hear things are good with the family. Family first, always

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  3. mvenezia

    I like AMBA here. I like her daily candle, strength off of 20/50 day, & think she is due for a pre-earnings pop.
    2) SPY bounced off 50 day earlier. If bullish grab IWM calls (laggard)
    3.) AAOI – I like her forward PE. Her IV is through the roof – sell SEPT puts. DPZ is holding up. Lastly, Gartman is selling Guam in yen terms.

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  4. shawnji

    I took some LVS and SOHU calls. Holding everything today, though it looks like VEEV’s Aug 65s are in great jeopardy.

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  5. Beechoo

    Am I reading this right? Moc closed below -80

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  6. thomasjefferson

    sentiment poll strikes again

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  7. mooby

    SNAP, you magnificent bastard, die.

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  8. tom

    OA, as I see that you have very strong pure spirits.
    May the gentle energy always be with you and your family.

    As for stocks, are you watching WFC to buy? or watching as an indicator?
    I have been holding WFC for years and thinking to add.
    Thank you.

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  9. og

    After having the discipline to not play earnings all year, I just got burned by NVDA. I hope Trump says JK about nukes soon.

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  10. cascadia

    Nat Gas names are moving while $UNG stands still…

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  11. no_logic

    Dipped a toe into WATT just a bit ago – looks to be testing the $11.90-$12.10 area just as you had said it might earlier this week in AHWOA. Hope all is well and glad you are back.

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    • dlrago8

      Watching WATT but haven’t pulled the trigger. Is this a longer term play – maybe waiting for news to pop it – with earnings out not sure of its action.

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  12. mooby

    Looky here: This is how a young company burns cash until they go broke:

    “Snapchat paid $213 million in cash for Zenly in May and $135 million for Placed in July, according to documents filed with the SEC on Friday.

    Snap also spent $62 million on acquiring “a component of a business from a social advertising software company” in June and “all outstanding shares of a company that operates a cloud hosted platform for building content online” in March. A company representative declined to name the two mystery buys.”

    After they burn all their cash they will hire a new CFO that will proclaim “cash is king”.

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  13. heaterman

    I have no idea what happened but one always has to keep their priorities in the correct order. Family
    is
    always
    First.

    Keeping you and yours on my prayer list as is sounds like your daughter has a long road ahead.

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  14. stockslueth

    I bought some XIV on the close Friday. Expecting a bounce after the war of words fails to materialize anything truly devastating. I also bought the dip in AAPL and I’m up on the trade but hearing some chatter that it will go lower. Well, who really knows.

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  15. Beechoo

    OA nailed it

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  16. ThomasJefferson

    Got a gift catching a bid on this week’s $MASI puts into Friday close while it was still sporting an $83 handle. Was able to escape with a 20% gain on those.

    Also sold $GLUU shares today. I was originally looking for $3.50-$3.60, but $3.15-$3.20 started to look like a resistance point. So I’ll take a very nice gain on that and start scouting the next one.

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  17. shawnji

    I have a choice, book a big win in $BITA calls today, or risk a big win for a monster win with earnings tomorrow. Looking like about a 650% win if I book today.

    I have decided to book 1/3 for an overall 100% gain, and leave 2/3 on for earnings. Hedging my bets.

    How do you guys handle these situations?

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    • doubleplus

      Realize that not booking means you could lose all gains and then some. If you’re good with that, let it ride.

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  18. Thehouse

    Oa – where would you short HTZ?

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  19. ThomasJefferson

    I was shopping semi’s, and it looks like $IPHI is grinding out a swing low here. I’m looking for something in the $36’s to get involved.

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  20. dlrago8

    What is up with WATT? Any news today I’m seeing. It was an OA mentioned stock. Thanks in advance.

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  21. cascadia

    Either this is the flush before commodities/inflation sensitive equities get going, or the market is pricing inflation to be non-existent for the long term. The energy space looks bipolar too.

    P.S. An infrastructure spending bill would be greatly appreciated.

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