Not in the interest of self-gloss, but I absolutely nailed this market. Breakouts to bear traps, rotations to stock picks…all with conviction. I’m laying waste to those that were convinced that these massive gains and wins wouldn’t be here.
Now that I’ve said that, for those of you stopping by for the last day of the After Hours trial, I’ll set you up with a nice watchlist for next week, as I normally do on Fridays.
On the day, I booked a massive win in $CELG, gains in $GOOGL and will book the rest of my big $AAPL earnings win here before the bell.
I picked up $CTRP, $MBLY, $SSYS, and $PANW calls also.
To recap the After Hours with Option Addict sessions this week, I gave a pivotal call on Tuesday that the move lower was a bear trap, illustrating all the signals that suggested why this was the case.
I called out important rotational moves at the lows in the $XRT and $IYT this week. Those groups are of the next to break away from the trading ranges they’ve been in this year. Solar is on that list as well.
For those that joined me for the free week trial of After Hours with Option Addict, I can be a friend to you. Sign up for a membership and learn how to scout trades with us.
Have a great weekend,
OA
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Have a great summer weekend homie
Chinese internet stocks breaking out. BIDU finally catching a bid. Beautiful OA, just beautiful across the board.
Spare a thought for those that were shorting this move.
https://youtu.be/q2rVcxkbIQc
Refiners are nailing it today.
WNR – ALJ – DK – HFC
Is this an entry point for a major leg up?
Without question
CLMT +9.4% – beat the street (Royal Purple)
Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products; produces fuel products including gasoline, diesel and jet fuel; and provides oilfield services and products to customers throughout the United States.
ERX baby!!
I know shit about the oil sector and don’t play in that area. But why will refiners do well as we exit the summer travel months and have an oversupply of gasoline?
Credit where credit is due. SHOMP!
Nice
Jeff, thoughts on GWPH?
Looks really boring over the last few months, coiling tighter and tighter. Options a bit thin and spreads pretty wide though.
Made my watchlist last week. Been watching as well.
All are forgotten tech names, which were the flavor of 2013 2014? It would be an epic run, when FOMO starts ?
It’s time… https://www.youtube.com/watch?v=62YqHdTBwfg
Jeff,
You’re now an american trading $ICON in my book. I’m doing the $BOOT scoot bogie today. Deposited a luggage full of dollars today (Vera Bradley or course) into my bank account for future leisure, time wasting activities. Thanks again!
M3S
HAHAHA, nice moves in those today!
congrats OA
Congrats guys. Let’s hope for a gap higher on Monday to really squeeze the shorts.
Been amazing to watch. #ledgendary
Have a good weekend brother.
My man…thank you.
all chips in based on Jeff’s tuesday set up…nuff said…epic work . This was not just a one day analysis,,been on his radar for over a year. Jeff is a pretty humble man,,this was a top notch game plan
RE: AHWOA poll – I feel like if there’s a bunch of free folk who have been watching, sorta sidelined, and watching you talk your book and your sweet-ass calls then they are likely extra bullish…
I know of players who are totally out still, and like you said got caught off guard. People are in bonds / treasuries dude.
Kidstock made his call, and you gotta respect that. I wanted to take some stuff off at the end but let it ride. And Sethster is usually right with the volatility stuff for a week or so. Haven’t sensed extra exuberance yet. I sense caution, confusion, political strife.
Now comes the hard part of the bull run, how to beat the S&P by stock picking, combing over long lost companies and sectors.
So even though Chinese Burritos have returned +15% this year they still have another +40% to all time highs.
And Tech will be a big winner, take your pick.
3d tech.
$onvo had a great report.
I am thinking retail will be the big winner, with earnings around
Sounds rather bullish, don’t ya think?
https://caldaro.wordpress.com/2016/08/06/weekend-update-564/
This stuff still confuses the shit out of me. My version is simpler, definitive, and was obviously a little more effective.
Any parts that stood out you in particular?
Yeah this is like the alien taking to the predator
The part about if the waves are starting to subdivide here would be incredibly Bullish. The run from the second half of 2012 through the summer of 2014 was a 3rd Wave that subdivided.
If his bifurcated market theory is correct (SPX bear, NYSE bull) then the current bear rally (Major 3/C in SPX) must extend until we see new highs in the NYSE … then all indices will be in sync and the bear market will be able to resume.
“Anything above SPX 2252 and this uptrend is subdividing. Any correction after an uptrend completion, within these levels, and Major wave 3/C is subdividing in trends. Any SPX print above 2335 and it is probably heading much, much higher.”
Exceeding SPX 2335 throws out the Bear case and confirms Primary 5 of the Bull Market (my take). In which case we are going much, much higher and longer till P5 completes which would put him in your camp.
Helpful for a macro view:
http://freecotdata.com/how-to-use/
Do you use it from a contrarian standpoint though?
Absolutely and only at extremes.
Nice site, thanks for posting it. Helps to know which side of the boat is getting heavy.
I run this website, thanks for the shout-out.
CoT data is noise most of the time. It’s not noise when positioning is at a multi-year extreme and most importantly, when it’s diverging from price action.
Hedge funds super long the S&P and it keeps on going up? That’s fine, they have no reason to sell. But if you combine a crowded long position with negative price action, you typically get explosive moves. These are the setups I scan for every week.
If any iBankCoin members wants a custom CoT study on a contract not on the website I’d be happy to help, just shoot me an e-mail
It’s really hard to buy into the idea of Goldman stock downgrades and TLT being the best option when Indexes appear to be breaking flags when paired against a 10 Treasury Short.
SPX vs 10 Year
http://imgur.com/68gOzPu
COMPQ vs 10 Year
http://imgur.com/i5I6DK9
The SPX vs Gold chart is another beauty…
http://imgur.com/LYAcLzm
Good point. What are you in?
Mostly trading Biotechs (currently ANTH, BDSI, CORT, and DERM) and buying Solars (FSLR, VSLR, SPWR, and CSIQ) looking for the next leg higher. Holding some FCX and calls in GILD and CTRP also. The bigger problem right now is everything that I WANT and not having enough spots to go around….
Nobody wants to buy NFLX…short this one to $60.
That insider did.
I like this as a sentiment indicator
Very interesting observation:
https://pbs.twimg.com/media/CpV9DlaVYAAujWG.jpg:large
Added to BIS 31.05
Appears to be the right time to revisit the CIT short idea. If economy is about to hit a speed bump, the folks lending the very expensive money with short term paybacks are going to be shredded. LC ONDK and CIT are all “Bet the House” shorts.
Puts are cheap with 11 handle on VIX….meanwhile the premium on your calls will continue to evaporate as prices move farther away from your strike.
Preserve gains / cash and start scouting for short setups.
Just added TSLA to the short list….
Does make sense to bank some coin in winners today – I sold out of 4-5 positions. But not ready to go short. Bought shares in PANW and WNC
Current short list: BIS FB NFLX TSLA TWTR. Pick you spots…
Sold short TWTR 18.14
OA! How about that dirty Sanchez!!?? $SN. finally out of the red! pays to be patient.
any one like clmt or alj in the refining space?
Don’t be fooled by the strength in the financials….XLU is the proxy for the health of this market. Stocks will follow if XLU goes negative.
Expect this bidless action to continue.
I have to disagree there. It’s the proxy of health because everyone was wrong about this move. Market has clearly rotated defense to offense.