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Option Addict

The first hit is always on the house.

OA BUY: $MTCH

When was the last time $SOCL led a rally? I bought June calls on $MTCH, and am stalking $ANGI too.

More later,

OA

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HAVE A GOOD WEEKEND

Many thanks to those that participated in the Boot Camp this week. I hope you found the content worthwhile and have some new tools to approach the market with.

As I said last week, the timing couldn’t have been better. Seems to go that way with every Boot Camp we’ve hosted. The market Gods look down up iBankCoin and bestow us with conditions that suit our objectives when we need them.

Have a safe and Happy Memorial day. For those of you that serve this country and protect my freedoms, my family and I send our gratitude to you for your sacrifice.

OA

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ESCAPE VELOCITY

I spoke earlier this year that the breadth signals back in the Feb-March time frame are the types of signals you get when bear markets transition into bull markets. Even late last year, I argued that the “98-style” correction of last year would create this escape velocity for the market.

The $NYMO generated it’s highest reading this year since Jan 2009, and July 2006 – before the enthusiasm run into 2007. In these instances, the strength of these breadth signals is an early indicator that the market has the force underneath it building to send it much higher. The Summation index also created an extreme signal earlier this year, as Tom McClellan has pointed out in the chart below.

RASI_May2016

We spoke about breadth signals last night and how they signal the start of a risk cycle, but I’ve prepared more analysis on this for tonight’s discussion.

OA

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TREND ON?

2016-05-24_13-15-04Just a quick follow up on our sentiment and technical discussions on biotech.

What do you think? Does this bear market in biotech start to reverse?

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BREAKING BALANCE

Off last weeks oversold signal in both the $NYMO and my own personal indicator, we’re now breaking balance here to the upside. The TICK opened with an upside extreme, but I am also watching $VOLSPD and $ADVN-$DECN to confirm this initiative move.2016-05-24_8-23-00Last night in the boot camp, we broke the market down to a list of environmental indicators with historical data to back these signals. While many of you think I ride a bullshit bias for no apparent reason, there are a particular list of signals I use to confirm where the market is going. If you were on the fence on attending, sign up if only for last nights presentation on these indicators.

Like I told you guys, funny how the timing of this has come together. We’ll chat risk and rotations in tonight’s presentation.

Picked up some $CTRP and $EBIO off the open. More later…

OA

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