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

IF YOU’RE SELLING SOMETHING, MIGHT AS WELL CONFIRM IT’S WORTH BUYING

$SNAP quiet period expired and like I’ve been saying…if you’re selling something, won’t you speak up and reiterate it’s worth buying?

MS – Overweight, $28 PT GS – Buy, $27 PT Citi – Buy, $27 PT RBC – Outperform, $31 PT Jefferies – Buy, $30 PT

In other news, OA Jr is all over the text today, telling me his whole account is green into an ugly market and can hardly bear it ($SHLD/$SNAP mostly).

I picked up $BOX calls…nothing else going on today.

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68 comments

  1. AFlow90

    FXE, SHLD, WYNN, LVS, BIDU, and of course, SNAP, are all green. Couple that with my AMD/NVDA puts, and I’m having a monster day.

    I was actually worried this morning when I checked futures.

    Props OA, you led this horse to water and now I’m drinking my fill.

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  2. lesurgeon

    Are my March 31, 25.50 calls to aggressive here ?

    I’ve been trying to be the ball. Just picking everyone’s brain.

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  3. OA protege

    What expiry and targets did you get after on BOX?

    You are a genius! Loving the SNAP call.

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  4. tonka

    I had a dream over the weekend that Snap opened at $69. After booking a 30,000% gain I threw some cash in my bosses face, yelled “LATER BITCHES” and walked out with middle fingers in the air.

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  5. zephler

    hey OA – do you like $PI still?

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  6. rwpage

    Found my new hobby: reading the bear $SNAP tweets on stocktwits

    https://stocktwits.com/symbol/SNAP?q=SNAP

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  7. Beechoo

    I was hoping some of these shady IBankers would slap a $40 price target on SNAP. lol

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  8. JohnnyO

    OA… I’m looking to go long the $BILGE crack spread. Any thought?

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  9. husaria

    Enjoying the ride on the road paved with the ground up bones of $SNAP shorts. Joined you last night. Looking at $BIDU, once the momentum gets a bit better.

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  10. Operator

    I like the looks of this RGC. I’m long.

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  11. JDub

    Na-Na-Na-Na-Na-Na-Na

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  12. tonka

    Bearish sentiment on Stocktwits well off the lows, but still 53%.

    The beatings will continue until morale improves.

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    • JDub

      Jeff explained what will happen once the room flips to bulls, then the chase phase will begin. Be the ball….

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    • lol

      FYI the sentiment is a rolling 7 day average. There’s a lot more bullish than bearish coming in lately.

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  13. cascadia

    Long $XOM.
    Anybody buying the $CMCM backtest?

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  14. Heckler

    OA thoughts on GPRO? Is it breaking out?

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  15. Beechoo

    anyone looking to short TLT here? Has had quite a run last 2 weeks.

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  16. Quality Control Inferno
    Quality Control Inferno

    Oh boy, my buddy who cannot get out of his own way is looking to buy more today than he’s bought so far. I tried to tell him to buy it low, now he wants to buy the biggest piece on an up 7% day, like 25% off the lows. Surely OA could fix him.

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  17. iguessitsallin

    Hey OA, whats your exit price for $SNAP?

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  18. Heckler

    Does anyone still have any TWTR in their book?

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  19. stealy dan

    MS analyst has $40 as his $SNAP bull case price target and fully expects it to exceed.

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  20. Shaboi

    I thought the action today in $SNAP was a little muted, bears hanging on for dear life.

    $GOOS looks to be following a similar pattern, but volume and news coverage much lower.

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  21. lesurgeon

    Jeff, can you please load AO for today??

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  22. doubleplus

    I would marry the 5 min chart right now if my wife wouldn’t immediately kill it. This is so much fun.

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    • Quality Control Inferno
      Quality Control Inferno

      +1. The entire chart is very symmetrical and the upward sloping price channel that has developed in the last week is a thing of beauty.

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  23. dlrago8

    Morning OA, sure would appreciate updated thoughts on BIDU. I believe there are a few of us holding April calls. Thanks in advance.

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  24. no_logic

    Beginning of brief consolidation phase today before the next leg higher? FB headline cracked this over the head in the pre-market but seems to have held high 22’s alright thus far ahead of the open

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    • Option Addict

      Looking for a hug?

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      • OA protege

        Any guidance on SNAP based on this morning’s news and Cramer not recommending? Getting crushed right now.

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      • dragun

        funny how stocks never go straight up.

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        • only

          I’m looking for an inside candle off yesterday’s range. I think that would be constructive for more upside. It blew through $23.50 yesterday, some consolidation around there doesn’t hurt.

          I wouldn’t mind if it would find some buyers and get up off the lows, though.

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    • no_logic

      Nah – is but a survivable flesh wound…eye is on the prize, no longer on minute by minute account balance….

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      • Option Addict

        These happen after days like yesterday to keep you on your toes.

        If the audience runs with dicks in hand chanting praise, you catch a sell like this.

        If you respect the trade like a gentleman, you get mostly uninterrupted upside.

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  25. vandamme

    Anyone like DEPO here?

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  26. dragun

    I am quite liking this action .. keeping the bears engaged even more .. they’re out there dancing on ST .. let ’em load up

    wanted to roll up some more options based on pre market, but alas no such luck, still think there will be another chance to do so

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  27. Shaboi

    If the bears can’t take down $SNAP today, it will prove to be another indication to them that they’re fucked.

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  28. doubleplus

    Fuck it, bought more calls.

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  29. ThomasJefferson

    My daughter woke me up with a screaming fit this morning at 3:30am.

    The first word I thought as she woke me, and it came with intense clarity, was “Biomarin.”

    So I bought calls this morning. And also I need a new hobby.

    I wanted some exposure to next week $SNAP and got some here.

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  30. greenlander1

    Eyeing TASR

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