Watching this unfold is literally the same as it was back at the end of 2016, just from a “standing on your head” perspective. In fact, the chart of the $UUP looks remarkably similar.
Allow me to demonstrate.
Figure 1: EOY $UUP Rotated Upside Down (lol)
Figure 2: $UUP
On this recent push higher, the short position hasn’t budged at all, which could create a fast move if I’m correct about the turn.
To recap, I’ve been talking about a turn in the dollar happening. However, it’s obviously in the early stages of this turn. It’s a crowded position as it was last year. Yet, rather than take a Dollar long, I went Gold short…which has performed quite well thus far under minimal dollar upside. Should the $USD breakout, Gold prices will find floorboards quickly. This still goes down as the most memorable bull trap I’ve seen in years.
If you want an upside down chart of $GLD during the same time frame, gimme a holler.
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AMD POPPING.
Curiosity killed the cat, what strike did you go with, if i may?
AMD Long Nov 13 calls $ 1 9/27/17 7:38 am
Nice, brahh.
We’re in the same boat. We’re boat brothers.
Different strike, same mother.
What does that mean? Did you buy today? Or when we discussed in After Hours?
Just joking around.
I bought 9/29/17 13.5 calls
I haven’t been In after hours for a week.
I haven’t reupped my subscription.
You did bring it to my attention through the weekly recap.
For that, Thanks!
first post in a week and u post about the dollar?
who the fuck cares faggot holy shit what a joke uve become
Or…..just maybe you are the joke and don’t have the $ pay for his actual service and want him to give you more stock picks for free.
Yeah, I’m keeping these trades to myself. Been killing it lately and I figure guys like you are my audience here. Not trying to go out of my way for that audience anymore. Ready to pack it all in.
Risk on!!!
OA, in FFIV from lower, 116.50, any chance this downgrade is a shake of the tree before testing higher?
Right after a breakout….that’s exactly what it is, IMO.
TBT long, JDST long, GLD puts
GLD is ripping today into $USD strength. I don’t know how you can take this kinda heat.
GLD is ripping??? Am I missing something here?
Gold inverses usd/jpy – stupid correlation imo but thats where we’re at, check it out. Usd/jpy is running into resistance from last Dec. I just picked up gold due to this.
IPIX about to deliver huge stage 2 news
Long dollar or short gold are simply proxy trades for stronger US growth. In which case US equities offer a much more favorable risk/reward. No idea why a stockpicker would bother with a gold short unless it was a miner.
I’ve had every cent of my net worth invested in equities since late 2015 wiseguy. Thanks for the retarded opinion.
miss you on the blog here, OA. Wish you were back to posting more often
Yeah man, I hear you. Things changed. It just lost its appeal. Used to be fun, a good little group of people here to bounce things off of. It just kinda turned to shit.
That makes it sooooo hard to log in and try to provide any value.
I rotated GLD to look at it upside down. Interesting! Gosh OA, it would be a shame to give up on blogging. Your knowledge and experience are something I’m sure many of us look forward to reading.
Most of the Internet is full of people who think they know everything. So if someone who actually does know something shows up, that person gets no respect.
If you don’t know anything, how do you recognize it when someone else does know something?
For starters, you have to be willing to admit when you are wrong and others are right.
Was just writing OA today about Feb ’16; I was on the Ark with Fly and posting to OA about how dumb it was to buy trannies etc when earnings were shrinking, companies were growing profits solely through buybacks, and a recession would soon be upon us.
By July, I think in May though, I realized I was completely wrong about the market. I wanted to understand how he was the only one I saw on the internet pounding his fist about buying sectors and setups. I stopped talking, did more listening, and by the end of the year I signed up for AFWOA.
OA’s value comes from his market analysis down to the sectors and individual setups. I don’t know how he synthesizes all the info to make the market narratives he makes, but by and large he has been right, and he’s been 100% right about major market moves in the 2 years I’ve been reading ($DB, $WFC, Brexit, US election, market ATHs).
I don’t really trade options yet, mostly long term, but just listening, and then watching what he is watching in market/sentiment indicators has been invaluable to my trading strategy.
Sorry for the run-on, just want to give props where they’re due.
Lol every cent of your net worth is in equities…don’t be so pissy small fish. Notice you didn’t refute any of my points. Calm down and short a miner, you’ll thank me.
I won’t thank you for shit. Go fuck yourself.
Went long $TS, $SSW, and debating a $RELY too.
The further you back out the charts, the better they look…
There’s an OA name I want just a tad lower, $__redacted__. Looks like a beaut.
Hey OA, I think I can see the writing on the wall here, so I’ll throw this question to you before I lose the opportunity.
Looks like I might not have a choice as to who my broker is going forward. So, if your commissions were to increase significantly (double, maybe triple), would you have to change your strategy? What would you do differently?
Less OTM? Use more leveraged ETF’s? Leverage up on common?
Thanks! You’ve added a tremendous amount of value here and you can’t blog forever.
I’d do less short term trading. I trade a lot.
Frog – you’re back brother! Miss that ass.
Yeah – on a scale of 1 through 10 – with 10 the highest – the level of retardedness on blogs people are not paying for is usually around a 9 – on a paying one a 5.
do you have a pay service?
Is it fine to go with Gold instead of Dollar.??
If you calculate the movement since that decision was made, seems it was a great call.
You are correct OA. Too much BS on here. I just use the blog to try to gauge sentiment. Any input is quickly insulted on. You need to have an invite only blog.
great webinar last night, OA. Lot of knowledge you dropped. Appreciate the freebie,
Nice spot for $CHL add…
Is there a takeaway from the NYSE Tick looking like it’s consolidating? Does constriction in the Tick work like bollinger bands squeezing on equities etc? Big move coming?
Nope. No patterns, no nada. Patterns would only be relevant to time of day and where order flow is heaviest.
OA – you think Emerging Markets continues to play catch-up and boost gains in the short to medium term? In spite of the impending dollar appreciation?
Bought some GE stock this week. Probably not my best entry. Want to get 2019 leaps eventually.
Bought MDT today …anyone tempted by GE?
Tempted by $GE every day.
$229 for a monthly membership…lol…really Jeff,,,you’re getting a little greedy in your old age.More power to you if you get them.
Pulling the cord old friend. Fund is up, capital has been raised.
I no longer fucks with the internet. It was a good run, but adding my last few peeps and going into hiding.
It’s been real.
Flattered that you went to check though.
I knew you were still soft on me.
OA – is the trading room the only place where you will be available for the public? Will you still be having your quarterly (maybe it was annual?) session updates or After Hours? Not sure if I’m missing anything else.
Feels like the end of an era.
Thanks for all the knowledge. You are truly the maestro. The only real trading skills I have came from you. Good luck to you Jeff. Thanks for the summer school vids too
I hope you guys caught more of this SORL move than I did. I’ve been obsessing over this stock and yet somehow managed to miss most of this…FML
hey, howz dat dgld doing?
Very well, thanks. Faded the retard money like a champ.