RACK HIM

I literally froze at the open this morning, which has really sent my day into the shitter.

It felt like being attached to the rack, and pressure being applied to force me out of my positions. The longer the day has gone, the more pain it has inflicted on me.

I woke up to a $3 gain in $CL_F this morning. I’ve only done that one other time and that was Jan of last year. I also caught a gap up in $BABA, $AMZN and sat here watching them dwindle all morning waiting for the bounce.

Also, I need to apologize for the less frequent blog posts and discussions. My son is home recovering from a scary procedure he had last week, so my mind has been shot for about the last 2-3 weeks. Moving forward I will start to pick back up the tempo, discussions, and actionable ideas quite a bit.

OA

With the reaction we saw at 1880’s in $ES_F yesterday, it’s natural to consolidate yesterday’s gains here. Stocks are doing a decent job of accepting their gains. You still have to respect 1940 as resistance here, maybe even use that as a reference point to initiate shorts again.

It’s been a busy morning for me, but I managed to grab a few points in the $NQ_F this morning, I’m currenly long $CL_F at $31.35, $BABA weekly calls shortly after the open, and $AMZN weeklies I plan to hold into tomorrow.

What’s on your radar?

Fellow Addicts,

Surely after some price action like we’ve seen today, your head is spinning a bit. As a reminder, today and tomorrow I will be presenting in the iBankCoin Investor boot camp. We’re scheduled to start at 7pm ET sharp.

Remember, all presentations are recorded and archived, so you’re not too late to sign up.

See you tonight,

OA

I started buying $FSLR under $40 in 2013, back around the time I started blogging here. Each time it gets to these prices (low $70’s) it’s retreated pretty quickly on back down to the $40’s.

Their earnings last night were good, and everyone knew they were going to lower guidance. I think the market was pleased that it wasn’t lowered as much as many originally thought.

Here’s the chart I’ve been chomping on for the better part of 2 years…

Should $FSLR make an attempt through $74-$75, it has a relatively clear path over head to work towards $100. We just saw the first print above $70 a few minutes ago. Let’s see how it acts up here.

TLT’s ran up into last weeks island of prices, and have shown a distaste for trading at such prices a second time. The $TLT is forming “the cup of life” which should dovetail nicely into our biblical theme here at iBC.

Conversely, the $SPX found balance at the 1880-1890’s again and said levels were defended.

I am looking to cover my $ES_F short here this afternoon, and picked up $VDSI stock and $AMZN yolo’s for the afternoon festivities.

I am loving this price action in Crude, which we’ll look at in After Hours with Option Addict.

OA

Seems like we’re coming back in to test 1880. As discussed Monday, I locked in the ES short at 1940, and 1880 may be the place to book the gain if there’s a reaction there.

I picked up shares of $VDSI and am loving this move in $FSLR.

We’ll revisit some chart art on that a little later today.

OA