MAJOR WOOD ON NEXT WEEKS WATCHLIST

The stocks we had on this week absolutely crushed the market in terms of performance, but the set I have just put together is the most compelling list of set-ups we’ve had all year.

Again, market gets quiet in an uptrend and I will rock your world with some of these moves.

Hop on to After Hours with Option Addict and let’s run some tickers.

Have a Great Weekend,

OA

The amount of interest and questions I am getting on this topic (Read: “Should I buy biotech?”) is alarming, fwiw.

Read this:

https://www.newscientist.com/article/dn28454-gene-editing-saves-life-of-girl-dying-from-leukaemia-in-world-first/

While we focus on the all frauds and hucksters out there in this space, a la $VRX, there are still companies out there performing miracles in this industry.

After quite a move off the lows in the $IBB, I am seeing a lot more questions pop up about buying back into biotech. I spent a lot of time talking up $CNCR in NYC and in After Hours with Option Addict, specifically the components of it, but today we have an awesome conversation going in in the halls of 12631 about this particular article, but mostly on separating gene therapy stocks from the long list of biotech companies.

Here’s a few:

$ADAP, $ADRO, $BLCM, $BLUE, $CLLS, $JUNO, $KITE, $QURE, $SGMO, $ZIOP $ONCE $CLDN

I just recently booked big positions in $JUNO and $ADRO, and most of these others were on our list from After Hours with Option Addict a few weeks ago. The are trading differently than the overall sector, for the most part…which means they are being treated differently than their peers.

I love the idea of playing this particular theme in biotech. If I were going to play the long side, I have ZERO interest in the ETFs and would prefer to dial down to these stocks.

Have a good weekend,

OA

Off topic, but I am a big fan of basketball. After the $TWTR trade of 2013, I treated myself to a season ticket package for the home team out here going out a few years. I wasn’t a particular fan of the team, so I opted for seats behind the visitors bench, next to the tunnel they come out of. This way, I get to see a new team every night. My boys love this, because they get up close to the players, who are nice enough to pass out their sweaty headbands, wrist bands, jerseys, and sometimes their shoes. For the wife and I, it creates a date night a few times a week…but the kids absolutely love it. Here’s a couple shots of my son trying to get some love from the players.

I figure, since Fly blogs on the topic of cinema, I am going to blog about sports – specifically basketball. 44 home games, and an impossible race to find a playoff spot in the Western Conference. I’ll try to grab a few photos from my view points, but will try to break down each team that comes to town…and how the local team continues to find it’s way as a young up and coming team, with a few great players and a very impressive coach at the helm. I’ll do these in the evenings, a day after each game. This topic likely appeals to the minority, but it will give me something to write about occasionally other than stocks. Since it’s Friday, I’ll get started with Opening Night: #PORatUTA

The Blazer front office cleaned house in the off season after Aldridge decided to jump ship. They managed to scrape together a few pieces to make a competitive roster, but are more focused on the future and the new cap space they have after letting 4 of their starting five leave town.

This team exposes a major weakness in Utah’s game, and that is defending the point. I was super optimistic on them after they overachieved at the end of last season, but the Dante Exum injury leaves them vulnerable at defending a guard, such as Damian Lillard.

Dame went off in this game. 35 points, shooting better than 50% and few of those points were at the rim. CJ McCollum was lights out as well, going for 27 points on 10-13 shooting.

Utah was never really in this game. They couldn’t defend the high pic and roll, and Derrick Favors played very little with a flu. It was a horrific game in the sense that you want to get the fans and crowd excited about the upcoming season.

Final thought, there should be zero doubt about Damian Lillard being an all-star this year.

Sources confirmed that Jim Chanos at a Morgan Stanley conference is pitching the idea of a $BABA short and a $JD long.

At least his timing was better than Barron’s.

I appreciate the few bears that stop by this blog. There is nothing more comforting to know that they have my best interests at heart, and stop by as a courtesy to warn me of the perilous price behavior in the market, and how this may cause devastation to my financial well being. In all seriousness, I respect many of them since their analysis runs deeper than most.

What I find even more bizarre is that they offered me this unsolicited advice, while watching me call this market tick-for-tick, time machine style, throughout the entire month of September. If I were on the other side of this blog during that month, reading what was written, I would find myself a little more apprehensive to give advice to the guy that rolls with the man behind the curtain. I called for a melt-up move like this long before this year, and sounded that opinion off at the depths of the sell-off this year. I’ll be posting a chart this weekend, accompanied with blog titles and comments at each point of market movement during September. I’m going to frame said chart.

I should do the same for the things I wrote about and predicted at the market top in 2007. If you saw that, you’d realize I’m pretty capable of calling a top too.

While I appreciate that perspective and unsolicited advice and warnings, I only use that as kindling to fuel the flame. But for the record, I have not been warned once this week about being on the wrong side of the market. Keep in mind, I was warned daily about being in harms way, and market downside pressures from $SPX 1800’s all the way up.

Perhaps that in itself is something to pay attention to.

I appreciate all the responses in my last blog. My intent was not to come off as a guy struggling with depression or a deadbeat in life that focuses all my time and energy on trading. I just wanted to switch it up, and hear what others had to say about how they make time to improve in other areas of life. Great responses, many thanks.

The market acts heavy today, but has done a fairly good job on the lower time frame, using prior balance ranges as support. Let’s be on the lookout to see if something changes in this regard today.

This is about where the market ought to define the lower end of its range for next week. Before you start selling, wait to see how prices respond here.

I picked up $JWN calls for Dec and a YOLO long for $AMBA next week.

More later,

OA