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Option Addict

The first hit is always on the house.


Here’s another look at the NASDAQ set-up I’ve been posting.


Right now prices have moved to the middle, and have slowed their decline. Should the middle give way, see you back at the lows.

After Hours with Option Addict participants, I need to start today’s meeting an hour later than usual. See you at 5:30 PM ET. Sorry for the inconvenience.

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I bought Pre-Christmas calls on the Apple, with a striking price of 112.

More later,



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Yesterday I bought into $CMG, $TWLO, $CMCM calls and $DRYS stock. I also booked nearly 600% in both $FCX and $WYNN calls each.

Today, I bought some $AMZN calls and the NQ (4822).

In After Hours with Option Addict last night, we talked about how a lot of tech names are showing bottoming patterns over the last 20-30 days….while the indices are elevated. Today’s drop came on very benign breadth. No extremes today, or this week for that matter.

This still seems to be a stock versus market story. I’m still placing my bets til mid-December.

BOOT CAMP Cometh as well. Don’t forget. Get a fucking seat already. Epic analysis and ideas for less than what you pay to get drunk in a month.

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The Nasdaq is setting up in a fairly big broadening formation here. It also is taking on the relative strength today. Tech was mostly ignored post election, but now has started to take on a positive divergence against recent top performing groups/sectors.


The good news is, these patterns have all led to upside breakouts in the last three years. Considering this year that everyone raised cash and are now forced to buy back in…seems up is still the most painful way to go. That Nasdaq pattern puts us to 5800 as a target in an upside breakout. Similar to what I said in August on the SPX.

The best part of this, is that the breakout leads to slow grind. Those are the conditions I outperform in.

Timing couldn’t be better for a Boot Camp. Just saying.

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Best deal on the web right now is a ticket to iBC Q4 Boot Camp. We start Monday so don’t delay on getting yourself a seat for this years grand finale. Content is locked and loaded. You won’t be disappointed.

As a consumer, I am considering upgrading some computer equipment. I found this: Acer 35″ Curved HD Monitor for $499. I couldn’t find that less than $899 anywhere else.

You guys have any other deals out there in this category? I’m looking to upgrade some things, might as well start while it’s cheap.

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David Stockman’s infamous “Sell Everything” call back in early November was another classic 2016 scrapbook entry in my collection of dogshit analysis from experts and pundits this year. However, he came out to defend his call citing “Sucker’s Rally” and urges listeners to sell everything yet again.

“This 5 percent eruption is meaningless. It’s some robo machine trying to tag new highs,” Stockman said Tuesday on CNBC’s “Fast Money,” in a dismissal of the S&P 500 rally.

“I see a recession coming down the pike in 2017. The stock market is going to go down and it’s going to stay down long and hard because, for the first time in 25 years, there’s nothing to bail it out.”

This echoed the initial call Stockman made Nov. 3, when he urged investors to sell stocks and bonds before the presidential election.

However, since the Nov. 8 election, the Dow Jones industrial average has gained 4 percent en route to surpassing 19,000. Additionally, the S&P 500 and Nasdaq also hit record highs in the same time period, gaining 3 percent and 4 percent, respectively.

Yet Stockman, who was director of the Office of Management and Budget under President Ronald Reagan, reaffirmed that markets are heading for disaster.

“My call stands. Sell the stocks, sell the bonds, get out of the casino,” Stockman explained to CNBC in an off-camera interview. “Bonds have already cratered by nearly $2 trillion worldwide and have miles to go. This isn’t a rotation into stocks, either. It’s the greatest sucker’s rally ever.”

I bought $TEAM calls and going after $GOOGL at $770.

In closing, I’m mostly thankful to those of you who still drop in to read my nonsense and contribute to the cause. Enjoy the time with family and I’ll see you on Monday. Happy Thanksgiving.

As a reminder, the last Boot Camp of 2016 is just a few weeks away. Reserve a spot here.

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