iBankCoin
The first hit is always on the house.
Joined Aug 2, 2009
1,847 Blog Posts

MY NEXT SENTIMENT TRADE WILL BE A $SNAP

Odd, but this $SNAP IPO is developing the same way $TWTR and $BABA IPO’d. If you recall, I nutted those two IPO’s for B.A.W’s.

In a week or so, there’s a great long entry from the high teens we’re going to discuss in pretty good detail. For now, let it drift lower.

What I’d really appreciate is that if you know of people that bought this that really have no business doing so…family members, friends, parents, co-workers, etc…please query them on this as it grinds lower and return and report.

In the meantime, I bought more $YY calls, $DDD calls, and $TWTR calls today. I booked my $CMCM calls as well for a 500% return.

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37 comments

  1. Wayne

    Jeff do you see XLE going to all time highs this year if we can get $wtic aka oil to stabilize in the $50 -$60 dollar area. Thomas Lee is really calling for energy earnings to pick up in the 2nd and 3rd quarter this year.

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  2. cascadia

    Shhhhhh…$JMEI so sleepy.
    Testing July ’16 lows with little volume.

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  3. greenlander

    Picked up Jul APA calls and looking to add energy names soon

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  4. ThomasJefferson

    Rolled some $CMCM proceeds into $DDD, leaving the rest in cash. Stalking long term $F calls for LT option account.

    Looking at breaking one of my rules and adding to $RUBI earnings calls. Hoping for discipline, because the last time I came close, the company was down 15-20% off of the report. Which is why you have rules.

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    • dlrago8

      Hope you didn’t break the rules!! Are you a buyer down here at 6.40?

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  5. og

    Family still has not freaked out. Probably because SNAP is in their IRA. They all think it’ll give them FB like returns eventually.

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  6. Belt Way

    You’re not understanding how this works. CA companies go IPO, destroy sovereign wealth funds. Sovereign funds avoid American investments, go to China and Japan. (Or, if you’re KSA, you go to Japan and let them invest in America.) World power shifts to the East as America’s investment vehicles reveal themselves to be nothing but wealth and innovation transfer scams from the Middle East and Asian funds to American consumers (Uber, Airbnb, etc.).

    or… America realizes it actually needs foreign investment and foreign oil for the next 20 years and decides to help smaller companies like Twitter, Snap, GoPro, and Fitbit exit gracefully (extra Nixonian Vietnam “strategy”). Patient shareholders are rewarded.

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    • Option Addict

      What.the.fuck?

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      • Belt Way

        You’re not aware that sovereign wealth funds are the ones pumping cash into VC funds and further rounds to sustain money-losing but consumer-friendly operators like Uber and GoPro?

        Heck, the Middle East will have flying cars before us because of the tech drone transfer partly a result of ME sovereign funds becoming VC sugar daddies.

        As for the Saudis going through Japan, you’re seriously not aware of the cash infusion given to Softbank’s investing arm?

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  7. thehouse

    I don’t know a soul buying SNAP. Probably a good thng

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  8. awanka

    Welcome to investing, millenials. -Jeff Macke LOL!

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  9. Toby

    Hey OA, thoughts on ECA here?

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  10. fathom5

    Bought short term calls on $CMG today.

    Mulling over a position in $LULU here.

    $GOOS IPO tomorrow will be fun to watch. It’s cold over here. Do you guys own a Canada Goose jacket?

    No word on $SNAP, except for that high school that had shares. My best friend was a student there haha. Also, $FB just released a 24-hours-until-it-deletes share feature on messenger to beat $SNAP down.

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  11. cascadia

    I drink your milkshake.
    *sluuuurrrrp*
    I drink it up!

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  12. shawnji

    Bought some June $F, kind of like $PANW here.

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  13. traderconfessions
    traderconfessions

    I’m dipping a couple more toes into Options after trading only stocks for decades. I spent some time today reviewing your After Hours options classes. Learned a lot.

    I was exploring YY calls today and noticed the elevated IVs didn’t fall after this morning’s earnings report. Will this adjustment likely occur tomorrow or is this simply an anomaly? Which date did you select for your YY?

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  14. MSGT HARTMAN

    If the SNAP IPO busts then we’re looking at a $9 target.

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    • Belt Way

      Won’t happen. Snap won’t hit 9 this year. Stop drinking so much, white boy.

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      • MSGT HARTMAN

        So you paid retail for a discount company. Brilliant, Bumpkin.

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  15. en1gma

    Agree OA. FB followed same chart as SNAP. Let it bottom and buy.

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  16. Option Addict

    Fuck you Frank, go find a friend.

    I lost my keys this morning, if that helps. The only loss I’ve had this month.

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    • Option Addict

      Frank’s comment has been removed. Frank has been removed as well.

      Poor Frank traded with me through an awful year in 2014, quit, then jeers at all the success I’ve had since he left.

      Fuck Frank.

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  17. PartTimeLover

    A friend got in the IPO at 12. Probably had to suck some cock to get the shares.
    Got a little disconcerted when I declared I have buy stop orders at 11 and 10 when he shits the shares to me.

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  18. awanka

    I’m thinking of VRX as a sentiment play. Leonidas Ackman capitulating is a great signal. The problem is the stock is probably headed towards 0.

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    • greenlander

      was thinking the same thing but just for a quick bounce. Not a pretty chart though

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  19. Z

    TWTR usually does very well the week of LULU’s report – sort of an interesting connection that goes back to when OA you nailed TWTR when it went up around 25 percent in one week in December 2013 and LULU reported that week. That said – of course this idea can be back tested – I believe LULU reports not next week but the following week. It probably takes place because all TWTR sellers from TWTR’s previous reports are finally out by the time LULU reports each quarter

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  20. Linmoo

    Good God, the trade ideas and investment theses here in the comment section are truly….terrible. OA, why the fuck have you not mentioned the Saudis going through Japan for the TWTR / LULU correlation trade?

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