THE MOVE TO THE MIDDLE

Last night I attempted to freehand what the market will do for the next several trading days. I said yesterday that the first order was a move to the middle, then a move back down…

The move was a little more pronounced in the futures contract. From here, look for your buyers to defend around here…maybe on down to SPX 2078.

Timely buy in $BABA yesterday. FML.

OA

Let me take you back to the temporary high of this trend, back on Tuesday, November 3rd at 11:15 am.

This is that point where the market quiets down. But the funny thing is, my stocks are exploding. We no longer require “the market” to facilitate profits in stocks. The speed is gone, and correlations have been boot stomped to multi-year lows.

In other words, from that point on we talked about how a range would form in stocks from here. As if my headlines and comments from August til now haven’t been spot on, the comments I am getting suggest there are still a few that think I don’t have total control on where the market goes from here. As I mentioned on that very same day, you can have the market analysis back, as I no longer require it.

Alas, I’m going to freehand it for you.

I posted a seasonality chart that suggests the market pauses during this time of the year. If you are playing for market direction, here’s what the next 7-8 trading days ought to look like.

We’ll see a move back to the middle starting tomorrow that ought to pause near 2090 in the $SPX. From there, one quick test of today’s buyer, then back to 2090. Next week we’ll explore the upper end of this range, hitting an 2100 early in the week, then backing off to 2090. You’ll likely see one last hesitation there, then we leave this range, just in time to reach ATH’s before December 11th as I predicted in early October.

I got some great set-ups forth coming. The After Hours with Option Addict crowd is red hot right now.

But really though, there are some huge rotations coming down the pipepline. You will be in front of all of them, if you act now and secure a seat for the NYC Investor Conference Online (NICO). All parts of the presentation will be yours…live interaction, video recordings, PDF of the slides as well.

We picked up calls in $CMG on that E-Coli breach of $600 last week. These expire this week, but the stock is screaming higher due to the huge push to short into the hole. Now these guys scurry to cover.

What would you target?

I was thinking $630, but I like to get greedy.

OA

As turnaround Tuesday completes, there are still select deals out there for you to engage. Of course, pricing is a little higher here, penalizing you for not buying the fear of asshole blog pikers.

I rotated a few names over here in laundry like fashion, but I’m still contemplating $MBLY, $TSLA and $LULU here today. Gun to the head, who’s your horse of this threesome?

Also, congrats if you blindly followed this morning.

Disclaimer: “that everyone needs to own their own trades and make their own judgments. Sounds obvious, but for someone new or desperate blindly following happens.”

All in good fun,

OA

PS – SIGN UP FOR THE ONLINE CONFERENCE! Even if you cannot attend live, everything will be recorded and distributed. We’ll take a stroll down sentiment lane and help you uncover great indicators like the one we witnessed today.

I sold my stock in $LITB, and salvaged some $JMEI calls to take a position in $BABA here.

More later,

OA

Check out who copped the MarketWatch headline today. This is valuable real estate!

Kirk Spano calling for another 1,000 point down day for stocks.

Kirk also had a great call in November of last year, to buy oil and gas stocks.

This combined with some of the garbage in the chat makes for a compelling risk/reward to the upside here.

Off to see about more risk.

OA

SIGN UP FOR THE ONLINE CONFERENCE! Even if you cannot attend live, everything will be recorded and distributed. PERFECT GIFT for the upcoming holidays.