RACK ‘EM

This reminds me of Monday. Slow bleed down. Slowly forcing you out of positions, one drip at a time. Then what happens? They gap up and go on you…forcing you to chase back up.

This happens until the day that you decide not to sell. Or better yet, buy into it. Once they see you’ve recognized a pattern, they bust you.

Today started out on Rockstar status, then quickly turned to shit once the cheerleading started. Shame.

Oil under $40, potential outside day in $SPX. Retest of the breakout? Or something more sinister? (extra Keith Morrison)

December calls for a move starting here today. The stock is worth a try here too.

More later,

OA

Last night in After Hours with Option Addict, we put together a trade plan for a “Trade of the Week” in $YELP.

I try to avoid recommending short dated options, but this was a must. Using weekly options, we talked about some calls for $YELP, expiring next week, with a strike price of $31.

The calls opened at $.90 and are already trading at $1.70. Per our target range of $33-$34, this trade should easily trade over $4.00.

Great pick last night fellas.

OA

Philadelphia Sixers manages to knock off the LA Lakers for their first win this season and end their disgusting drought of 18 straight losses on the year.

The timing Kobe’s retirement announcement is suspect, right as the conversation kicks up about sending him to the bench for his terrible play this season and right before they’d make the news for taking a loss to the worst team in the league.

I saw this earlier in the week. Again, interesting timing to announce all this. Let’s sing praise to deflect a horrific loss for the Lakers tonight.

http://espn.go.com/video/clip?id=espn:14234854

I haven’t blogged about the last three games I attended. I’ll recap soon.

2015 produced some major portfolio poop. Wouldn’t you agree? How many stocks are down 50% YTD? 75%? 90%?

The amount of damage done to individual names has been staggering this year. One of the worst years in terms of breadth in a very long time.

I figured we could take a moment to pay homage to these companies, like they do on survivor to fallen cast members. A memory lane, if you will.

Here’s my Top Ten

ARCH COAL $ACI: (-93% YTD) I suspect the scramble to buy these stocks back in the summer was a carefully planned event, where smart bag holders averaged down for a dollar, then flipped the idea back on the unsuspecting public for as high as $10 per share. #RIP.

SUNEDISON $SUNE: (-86% YTD) A fast and furious fall from greatness, in yet another hedge fund hotel.

US STEEL $X: (-70% YTD) I could have chosen many names for this spot. Freeport, Century, etc. These are prices that have never been printed before for US Steel. #RIP.

3-D SYSTEMS $DDD: (-73%) A 3D printer in every home, and a hat for every ass. I won’t lie, I bought into it a few times.

VALEANT PHARMA $VRX: (-38%) No need to speak on this name, as I won’t be able to say anything that every trader and their dog hasn’t already spoken. #1 this year in terms of popularity, I assume.

BOFI HOLDING $BOFI: (+2% YTD) Why nominate this stock when it posted a gain this year? Simply because the stock was up 85% heading into October, then collapsed 50% in 2 short months. Of the top ten, this was my favorite rug pull this year.

CHEMOURS $CC: (-69%) I speculate that when this stock debuted this year, old shareholders of Circuit City sold this stock simply out of spite. Made my list solely for that reason.

SPIRIT AIRLINES $SAVE: (-51%) Airlines have held up reasonably well this year ($XAL flat YTD), minus this turd. I find the ticker symbol here ironic.

INSERT ENERGY RELATED TICKER HERE $____: Why pick on the poorest performer here? They all took a beating.

TWITTER $TWTR: (-30% YTD) Just because “it’s Twitter.”

Honorable mentions to $GPRO, $TERP, $ARO, $GMCR, $ICON, $FXCM and $EROS.

Who would you include on this list?

Massive call options activity is hitting the tape today in shares of $SUNE, for it seems that the closer they draw towards closing this deal, the more speculation that the deal isn’t getting done.

I spent the remainder of my free IRA cash this am in $SUNE at $3.36, averaging this thing down quite a bit from my 2013 basis.

Keep an eye on $VSLR here too. It’s getting perky.

OA