There was enough of a bid underneath this market, despite broad weakness in momentum favorites. Overall the price action was very constructive, and a win for the buyers who held prices above the volume pocket on the Nasdaq:
My stock book into the weekend, largest to smallest:
TWTR, BALT, LO, LIVE, TSLA, IFON, XON, HOS, FRO, RGSE
Options:
DDD July $55 calls, F next week $16.50 calls, $FB next week $65 calls
I lightened up some of my other positions to make some room for fresh ideas to start the new week. I was stalking YY all day long but never pulled the trigger. There are some interesting things going on the China internet space again. This idea and more will require further investigation over the weekend.
Enjoy summer, if summer is your thing. I will be catching some World Cup matches and otherwise living the water lifestyle.
Stop by over the weekend to check out my new intraday charts as we investigate auction theory and specifically how it plays out during the opening swings of the market.
If you enjoy the content at iBankCoin, please follow us on Twitter
