A TECHNICAL TAKE ON $VRX

Generally I have no reason to follow stocks like this. The ones that you are unable to avoid seeing in the headlines. My stance is that the more eyes, the more participants, the more hype and the more opinions involved, the more random things become.

However, the biggest edge in trading a stock like this, especially one that has gone the way of the waterfall is to incorporate sentiment into the equation. People seek action. Lots of movement in a stock can mask weaknesses as a trader. For example, if your buy points are weak, you can miss a good entry but feel validated in your efforts in a big price swing as long as you get a piece of the middle.

Let’s apply a sentiment comparison on this ticker.

I reduced the time frame to an hourly chart, but the daily is worth a comparison as well.

I only took interest in this name today, because today was the day I didn’t really hear it mentioned.

Any thoughts?

Interesting day thus far. My idea of a range isn’t looking quite right, but my stocks are fairing much much better than yesterday. So in other words, the market looks terrible, but stocks look pretty good?

$HYG gapped lower today and is starting to reverse the loss. We’ve been talking about this in After Hours with Option Addict watching to see if it stabilizes.

I also really like China here, fwiw.

I took a position in $LULU earlier this morning and hoping to catch some traction in some November positions this afternoon.

More later,

OA

$IACI Proposes to acquire Angie’s List fo $8.75 per share. They should have negotiated a discount, rather than a premium.

HAHAHAHAHAHAHAHAHAHA!

Perfect stamp on an otherwise worthless day.

Laughing my ass off. Good for my $YELP though.

Why bother with anything else?

Facebook. Amazon. Bidu. Google. Netflix.

Everything else is dogshit. Landmines. Instruments used to bludgeon you randomly, only for being a lowly participant.

How hard is this really? It’s like telling your in laws to just buy a mutual fund instead of trying to guess this stock shit. Why own stocks? They are in a bear market. Well, except for the Nifty 50.

Epic buy in $BABA and $BTE yesterday. Retail stores are all closing now as $AMZN takes over the world. So much for a couple retail buys down here. Now all I need is an asshole to step up here and heckle me.

Thanks for at least sparing me the complaints on how awesome this market is.

OA

@ryandetrick has been following many of the same things I’ve been writing about in terms of overall similarities between various asset classes now and back in 1998. Had to share this chart he just sent out.

This is a comparison of price action, not specific to dates. Crude didn’t actually bottom til 99.

Interesting comparison nonetheless.

OA

ROAD MAP ON POINT THUS FAR.

Move to the middle of the range and a retracement. The retracement found its buyer, so we head on back to the middle. Again, all outlined yesterday, to make sure you were on the right track.

The NQ is obviously far more aroused here than the others, but that’s more of an indicator that risk is on, than anything and a sign to stop overthinking this.

$FXI and $EEM stabilized where they needed to, but $HYG is still under pressure. I still think the worst is over, and this has improved enough overall to keep things elevated. More downside in $HYG may change my opinion though.

I’m shopping for biotech right now as $QURE from my watchlist has exploded here this morning. All while the $LABU gained twenty cents.

More later,

OA