OA BUY: ETSY

Long Aug 20 calls for a buck forty.

Have a great weekend,

OA

What’s the consensus on the China names here?

They’ve been consolidating for a month…plenty of time to work off the fast moves they had earlier this summer.

I’m staring these down, and have a finger on the trigger for a starter in $SFUN. You guys like these here?

$YOKU, $SINA, $TEDU, and several others are sporting “the look.”

I took on some $QLYS calls this morning off the movement in cyber stocks, as discussed in After Hours with Option Addict last night.

OA

I’ve been playing small here, with weekly’s, trying to catch those moves on the lower time frames we discussed in After Hours with Option Addict. WOrked great with the GOOGL trade we mapped out Monday, and I’m trying it here with NFLX sponsored by the GOOGL profits.

I also picked up a position in $WYNN for next week off some $MPEL options activity. There’s an interesting correlation between the Shanghai and the casinos lately that has me very interested. If you missed this analysis, we can cover it again during After Hours.

By the way, audio is broadcasting…so we’re on tonight. Thanks for your patience.

OA

I’m going to be on the road this week and most of next week as well. I just pulled up to my private bungalow and discovered that I will need to purchase some hardware in order to transmit audio.

because of this, I need to go shopping. Today’s After Hours with Option Addict will be canceled, but we will pick up again tomorrow. I apologize for the inconvenience.

In After Hours with Option Addict, we discussed this recent market move to be the little brother of the move back in October last year. If you recall, the indices exploded, but not all stocks followed. It was mainly Dow stocks, and other quality names. One of the most common comments I recall reading was “Fuck, I am missing this move!” Mainly from folks that were in other stocks thinking that everything would follow the indices.

The same is true here, this is a concentrated move in mostly $FDN components.

Remember this? http://ibankcoin.com/option_addict/2015/01/22/the-chart-that-will-define-2015/

Be careful buying a lot of stuff here that isn’t participating. And ignore the guys that call out weak breadth stats, for it will significantly improve down the road. Chase the good stuff for now.

OA

In part of my 1998-2000 analogue of my longer term expectation for stocks, and important piece of all this was how Gold prices would plummet. You’ve likely heard my discussions about this back when I started blogging for iBC back in 2013. In my position, having an old acquaintance that wrote a book about how to invest in Gold back in 2011, a brother in law and several of his friends that started a collection of silver coins, television shows about gold mining, pawn shops every square mile wanting to buy my gold, etc.

Aside from all that, this chart has been what I’ve been using as a template. This is what Gold prices looked like in 1998-1999. Hat tip @canalsb for marking this up for me.

Gold looked the same last year as it did in 1998 (last year my running analogue was that last year was 1998). This year being 1999…Gold prices carved out their final liquidation before exploding higher. As I’ve always said, I would target $900 as the bottom for Gold, and at that point when everyone has sold and has turned bearish, this is where you want to be a buyer.

Once Gold takes out 1080, it will get to $900.

OA