THAT BAD, HUH?

Despite the fact that we’ll be in a range for the next 10 days, it would be to your advantage to engage the market here. While many are shy to engage weakness, this is the best time to do it. Before the market goes green.

Look at all the names ripping off their lows. Start grabbing things here while they are cheap. You won’t regret it.

Drop me a note, tell me what you are buying.

OA

I took a December call position in the $FACEBOOK, while also grabbing some shares in $BTE for this move in oil today.

As we discussed yesterday, I am also watching $MBLY and $LULU here as well. Will likely book gains in $SOHU and $PYPL today.

More in a bit as turnaround Tuesday develops,

OA

My favorite names here include $BOX (just took a position) $LULU, $NMBL, $MBLY and $RUBI. I missed $ONCE off the open to lose money in a $NFLX trade. I’m looking for another bio here to play in its place and like the look of $OHRP, $GALE or $BLUE.

By the way, my post to avoid trading the ETF was aimed to help you. If you opted for the $IBB or $LABU here, how are you outperforming our stocks that were bought last week? $IDRA up alomst 8% and $ZIOP up about $3 since last week, +3.5% today. Had I got my $ONCE this am, I might have laid down the wood on this blog.

On an unrelated note, big thanks to Citi for coming out this morning and blasting all things retail. I like the way $LULU and $SHLD are acting in all of this, but I might wait til tomorrow before adding another name in that sector. $URBN and $JWN are punching me in the face today.

I’m bored to death at the moment. If you missed it, I am doing a Online version of the NYC Investor Conference. You should sign up. If you watched what we did this month, we destroyed this market, and it’s because the content we’ll discuss in this presentation had us completely prepared for it.

OA

Over the last week or so, we discussed and tried to plan for a market that should start to level off a bit. You saw this start to happen last week as the indices closed red Wednesday, Thursday and Friday. However, despite a lower market, most of you caught massive wins last week.

Today we are seeing additional downside movement, but to a larger degree across the indices.

Time to panic? No, I don’t think so. At least not yet.

Ultimately we are looking for a range to develop through the middle of November. This move ought to help define the lower end of the range. Best thing I am seeing today, is that there is still a lack of correlation in this move, and the extended nature of most indicators have reset today significantly.

Right now, I am watching $FXI and $EEM. They’ve retested the Aug-Sep range. They should hold up around these areas. If they don’t, that becomes a concern. We won’t sustain this elevation without them. The $HYG, as discussed in After Hours with Option Addict, should be watched here as well.

Top picks from my watchlist are $ONCE, $MBLY, $BOX, $RUBI, $LULU. The remainder of my watchlist looks great into a little more weakness.

Good morning.

We had a large number of readers request that we take video footage of the NYC investor conference for those that were unable to attend. We’ve decided to host an online version for those that wanted to participate.

I’m going to take all the content I presented and break it down to 60-90 minute presentations over the course of 5 days.  All of which will be recorded and for you to take with you. Slides will be provided as well.

Here’s the outline of content we will cover.

• Understanding Market Dynamics – How to gauge speed, correlations,patterns, and direction.
• Past Versus Present – 2014 vs 2015…What Did We Learn?
• Market Rotations – Finding the Next Explosive Move in Stocks
• Trading through Different Market Conditions – A fast and slow portfolio
• Trading for a Living – Here’s How We Did It

We’ll be starting on the week of Monday November 16th. We’ll be starting in the evenings at 8:30 PM ET. Each session will have a Q&A, and will have some interaction during the presentation. Again, these will be recorded, so you do not have to attend live. Each night, and email will go out to you with a link to download the recorded session and keep to watch at your convenience.

The content has been spot on in terms of what the market has provided these last few weeks, and what it will ultimately do moving forward.

Here’s a link to sign up: https://ibankcoin.com/beas/conference-online-2015/

Please post questions if you have them.

OA

Opening night at VivintSmart Home Arena left me feeling a little down beat about this upcoming season. However, last nights win put me back on the optimistic side as the Jazz earned a much needed win, now 4-2 on the season, heading into a tough four game road trip out east to play Cleveland, Miami, Orlando and Atlanta.

Utah managed to secure a 20 point lead against a struggling Memphis team, who took a 50 point beating to Golden State last week as well as a 20 point loss to Portland on Thursday, and a 30 point loss to Cleveland a few weeks back. Memphis’ loss to Golden State sparked some drama on Twitter from the Los Angeles Clippers, who also manage to lose to Golden State, but #didntloseby50

The big story from Utah was their three point shooting. They shot 12-27 from three point range, including 6 of 8 from Trey Burke, who scored a game high 24 points last night coming off the bench. Favors who got off to a hot start this year had a difficult time scoring in the post with only 12 points, but managed to secure a game high 16 rebounds.

Utah’s offensive attack was much more poised and balanced than it was against Portland, and defensively they made it tough on Memphis, who only shot 33% from the floor.

Sitting behind the Memphis bench, I could tell that this team is not on the same page quite yet. On multiple occasions, I watched players lashing out at each other in frustration. In the second quarter, Zach Randolph stormed off the floor after a time out to single out Courtney Lee and start yelling at him after a broken play. Another altercation came twice during a couple of time outs in the 3rd quarter between Beno Udrih and Tony Allen. It got so bad that both Matt Barnes and Vince Carter had to try to calm these guys down. “Stay together” and “One guy alone can’t win this” were being used a lot to try and settle the bench.

I love to watch Tony Allen’s defensive intensity, and his reaction to fans. On two occasions, he motioned a fan to come down to get his ass kicked after heckling Tony a few times in the first half. I also love to watch Zach Randolph’s physicality during the game. I always tell my oldest son, who is a pretty top notch player at his age, to watch how Randolph fights for positioning and seals opponents with his body on both offense and defense. I also think Jeff Green is one of the NBA’s most underrated players. He sat Gobert on his ass in the second quarter with a pretty nice dunk in traffic.

I also think the addition of Matt Barnes is huge for this team, and gives them a much needed top level utility player to come off the bench and score in their second unit. I’ve been a fan of Barnes since his college days, and fell in love with him as a Warrior. He seems to be trying to find his chemistry with the Grizzlies, but the same could be said in general about Memphis thus far this season.

Bottom line, Burke will be able to have nights like this for Utah as long as he accepts the 6th man role for this team. Utah would not have been able to hold off the Memphis run in the fourth had they not build a lead with the 3 ball, especially in a game where you turn the ball over 21 times. From the Memphis side of things, they need to settle down into their roles and communicate much better. Everyone seems frustrated after a few blow out losses, and they are heading into a difficult month against the Clippers, Warriors, Rockets twice, Dallas, San Antonio, Atlanta and Portland. If they don’t come together this month, there’s no way they meet expectations in terms of playoff predictions this year.