CASE OF THE JITTERS

It’s ok to get jittery here. Makes total sense.

Here’s a look at my analogue I’ve been running over the last few years. Logical spot to get anxious, and to find yourself in denial.

Come back from the Dr to see blood smeared across my office walls. All I see are beargasms running rampant through my “fade” twitter lists.

Hard to buy into it until this chart says “shit is real, yo.”

I know many are sellers into this…how many of you are buyers?

Didn’t think so.

I bought Russell futures here at 1155. The spot seems right.

Let’s reevaluate a little later this afternoon.

2014 was a year for anti-depressants. 2015 is the year for amphetamine salts. If you don’t know about them, talk to your doctor. They are mental steroids.

Today’s action seems to be similar to what we saw two weeks ago. We’d rotate daily between energy, biotech and momo stocks. Perhaps this is a signal of more day-to-day shifting?

$IBB held the line again, but its early in the day. Momo stocks are way off the mark today and energy stocks are red hot. The $OSX is sitting inside a nice bull flag/wedge here and that’s the top group out there in terms of producing the most +3% moves or more.

Crude is stable. $RUT still has the best structure.

Off to see about my pills. Be back in an hour or two.

OA

There is one thing that pisses me off beyond measure in this sport. It takes a lot to piss me off, but this will gnaw at me all day long.

As the holder of an option that expires in the current week, you’ve got to stay sensitive to adverse price movements. In fact, its good to have a mental level where you’d decide to exit a trade with a win, worst case scenario.

Well, the open today was worst case scenario action in a lot of popular names. In this instance, let’s take $BIDU.

My first target was $155. It hit that yesterday and did a great job of staying up and trading around that price. If a stock accepts a target, I try to look for the next level above, in order to let the trade continue to work. This morning, $BIDU took a hit down to $152, triggering my “worst case scenario” profit level. I took the calls off for a bit more than a double, but no less than a moment after I place the sale, the stock reverses on a dime and trades all the way back to $155, as if it only traded down to that price to trigger me to hand over my calls for their cheapest value.

I hate taking the fall like that. I try to avoid that at all costs. It makes me feel cheap and dirty.

On a brighter note, the Russell is surging again here at the open. Same relative strength as yesterday. This will continue to drag the market higher.

I’m giving myself chills over here with the historical analysis that is being pumped into my powerpoints tonight. This is stuff you WILL NOT GET ANYWHERE ELSE, and will equip you with the proper knowledge to throw feces at your fellow underqualified market participant in the next few years as they humbly acknowledge your superior intellect. Not only will you be able to navigate the financial markets more effectively, you’ll get more StockTwat followers and be able to have more intelligent conversations at the water cooler each day. Until you quit and go start your own fund, that is.

Right now I am on the finishing touches of my Market Dynamics presentation. Here’s a quick preview of some charts I will be discussing. I’ve included some analysis in here that was even eye opening to me, and is new and unwritten material that I’ve yet to ever speak on. It definitely lends a stronger bias to my underlying analogue.

Not too late to sign up.

As you were.

I don’t see much to discuss here from a technical perspective.

Once again, if overhead supply were a concern, wouldn’t there have been a faster reaction? Once again, the market was walked down til it found buyers underneath.

The $IBB survived a small sell, oil stayed down in a very slow range, but individual stocks sure traded well.

This might turn into a repeat of last week. A few patches of slow moves lower, a few responsive buyers. This is where I get to the point where the market action itself concerns me less, and the real fun is found in picking stocks.

The chart to watch this week. It fired off smooth this am, but not much follow through.

On the day I picked up $SFUN , $SHAK, and $VDSI calls.