OA BUY: $WING

Don’t judge me.

Long Aug 35 calls again for $.45.

Frrrrp.

OA

With restaurant stocks in a full blown fucking crisis today, I am being forced out of my utmost favorite idea in this tape today.

Sold my shares at $29.05, and the calls at $.70.

OA

The Russell is the only index in the red here, and those types of divergences foretell upcoming weakness in the others. I don’t think we plunge, but a drift lower to test recent buyers resolve seems likely from here.

I’m still patiently waiting for better set-ups that this.

https://www.youtube.com/watch?v=-iyVOLIWc-A

Hard to chase longs here. Therefore I hereby declare a buying strike.

I can only see a few set ups out there that I am remotely interested in, and all would be better suited into weakness.

I’m not bearish here yet, but I bet there’s still a small plunge in the cards this week that get’s bought.

Here’s my list of stocks I am watching, don’t laugh: VDSI, IPXL, FFIV, RAX, VIRT, SGMO, CY, USG.

In all reality, I want to own none of those, but they look tradeable this week.

Someone kill me for selling my July GOOGL calls yesterday.

OA

Last weeks road map was to initiate a few longs near the lows last week, then follow the Russell 2000 as a sign of buyer or seller control in stocks. All signs pointed to control still being maintained by buyers.

By tomorrow or Wednesday you’ll have another rollover in the broad market. Your buyers from below will likely defend this level. Using the /TF_F, this level is 1245.

Take a look at the lower time frame of the Russell. We’ve climbed the wall of worry. They’re getting anxious up here.

Both sides of the tape get a good play this week. Play to your bias. If you play both sides, don’t get greedy.

OA

There’s nothing better than riding through the midst of financial turmoil with a large position in the weeks top performing financial instrument. Especially to call it out for the masses as a place of immunity and mass opportunity likened to that of its peers who traveled an identical path ($TWTR, $BABA, $SHAK).

The first couple weeks of this meltdown I did very little, having multiple positions work against me early on…but this turned out to be a great finish to the week, catching this move in $WING…as well as great moves in $AAPL, $SPLK, and $GOOGL.

I’m refreshing my watchlist today that we’ll partake in next week. Please leave any free ideas for me here in the comments.

OA