OA BUY: CUDA

Long some June calls in CUDA here. Love this group for an upside move.

More later,

OA

Interesting evidence here today. Here’s the facts:

SPX: -.13%

INDU: -.32%

COMPQ: -.04%

RUT: +.76%

Breadth is pretty weak, but good action in individual names.

What do you think? Higher or lower from here?

One chart to watch this week, which I think fuels the next move…

As a result of this mornings economic data, stocks incurred their strongest breadth readings of the year into this gap up.

Rather than chase everything up, be patient and be committed to buying dips.

I took down some $VMW and $TXTR calls this morning, and will look for a few profit taking opportunities.

By the way, thank you to those that participated in the poll for #iBCNYC. It’s doing to be an unbelievable event.

As you were,

OA

As I’ve mentioned a few weeks ago, we’re in the planning stages of our annual iBankCoin Investor Conference for 2015. I’ll be hosting the event with a few high profile guest speakers. If you were in attendance last year, you can vouch for us that we put together a high class event. I’ve got some even better content planned for this years gathering.

Folks, do me a solid and take a moment to vote on the following poll:

http://ibankcoin.com/flyblog/2015/05/07/bull-attack-full-compliment/

The details on the event will be found there. If you have any specific questions, post them in the comments.

OA

Now we’re seeing some strength.

I still think upside is limited to 1230 today, as discussed yesterday, but who knows.

Go Get ‘Em!

OA

Now that folks have effectively bought up a little into today’s weak attempt at gains, notice that the Russell has stayed flat.

I laid out a pretty good map in After Hours with Option Addict yesterday talking about a weak rally today that gets faded. Breadth here is weak sauce, but the lack of participation in the Russell says it all.

That likely leads us into a sell off tomorrow, which should feature the SPX and DOW finally taking a blow. They’ve been pretty resilient through all this.

If the Russell acts like it did today/yesterday into tomorrow’s weakness, be a buyer into the weekend. I chose to sit on my palms today, with the exception of a $DSKY long.

OA