Thursday’s $NYMO signal was a nice gift. Betting against fear into a weekend has been a decent paying bet for most of the year. However, if you avoided buying low on Thursday or Friday, this is by far one of the most frustrating situations of the summer that I can recall.
I bought a few things at the end of last week, but not everything I wanted. Everything else on my list ripped 3-5% yesterday. With the way we’ve opened up the week, I’m sorta stuck. I feel like chasing stuff here and we revisit last weeks lows. If I don’t chase here, everything trades to the highs without me.
Struggling to find any other good setups, I just sit. I want any pullback I can get in semiconductors and software. I also like $TTD. $SQ, maybe $TWLO or $TWTR?
Got anything here you can’t refuse, that hasn’t already ripped off the lows?
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$UEC
Why chase a 3-5% rip when you can chase a 7.5% rip.
I kid, I kid. I’d look for solid bounces in large ranges…like this. Could go up another 15-20% and still be in range.
Picked it up at $1.35. Putting in a LT bottom here.
$GILD maybe. Easy to manage here.
$BABY
ALB
made 5000$ on RBNW , pinkshit ,supposed to double tomorrow
aveo is a long shot but financed until end 2018 + european market + waiting fast approval on usa market ; not your kind of play but might be work a starter
the old saying goes it’s better to be out wishing you were in, than it is to be in and wishing you were out.
Perfect. Printing this and posting it next to my wall of worry sentiment chart. Great reminder.
SLCA & FMSA starting to look like selling momentum is finally starting to wane, but probably too early/risky to call a bottom here. ALB interesting
NTES and CTRP?
XOM. I talked about this over earnings but didn’t take the swing. I now like it for $77.50 strikes, Jan 18 and Jun 18. Like that timeframe because it gets me past refinery maintenance season. I know you are watching this one too. Andy Hall closed shop recently and took the opportunity to shit on the idea of oil much over $50 or $60 in the near to intermediate term. He was flushed out of bullish oil futures bets this year. There is historic evidence in macro trades like this that when a big whale has his fingers stomped on, positioned for a big move, the collapse of the large, leveraged trade itself is predictive of the move. Hall was early but he might still be right in the near term about his original bet.
There is certainly something alluring about being able to say you made money on a trade even God could not.
Looking at XON, BLUE for an entry.
Materials have come alive again ahead of Yellen. I’ve held FCX stock and calls for a few weeks and will likely close the calls and trim the stock here.
CLF hasn’t rallied much off its recent lows if commodities appeal to you.
$NM
Goddamn it missed the short trade on HTZ. Might leg into it if it rallies back tomorrow
Semis: What do you think about $CY?
Booked the remaining $BITA calls expiring tomorrow. In hindsight, I’d have booked them all before earnings.
Eying up $JUNO and $ATI.