Last night’s After Hours with Option Addict is worth a watch. I haven’t spoke market talk in quite some time, as I was under the opinion it was totally fucking irrelevant…but yesterday after the bell I made the case for a fast move higher starting this week. In the last few days, I have been getting hit with unsolicited market analysis…or forwarded articles of the doom variety…so I pitched my case for why the market makes it’s fastest move up for the year starting into yesterday’s weakness.
FANG stocks all rallied off support, semiconductors are set to BTFO, and biotech stocks had the looks for a breakout…all of which happened today.
An important note we discussed was that the anxiousness in volatility indicators was not being presented in the market action. Meaning, people were starting to price in downside but market speed has all but deteriorated.
The market weakness you want no part of starts from a fast move up. Til that happens, I’m content to headline with “staying the course” til I the anxious ones are no longer anxious.
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Thanks for the blog Jeff. Love the renewed enthusiasm. Keep it coming.
Yesterday’s AHWOA was uncannily spot on re market comments
Great stuff. I was a wuss and went further out to give it some time. One of those good problems to have I suppose.
The top 10 one day VIX spike off of a 1-2% sell off was the tell. Unless you believe that short vol is a crowded trade…which would just make you wrong.
Great call last night. Another tell was copper breaking out. Commodities don’t usually break out into a market sell-off – at least not in this environment where weak commodities are still perceived as a threat to the market. It was remarkable to see you call the action in stocks so accurately. I held on to WATT and NM. If I had to guess NM won’t start to go off until February, seasonality of the shippers being what it is. I know NM calls are thin but they’re hard to resist. March 2018 $2.50’s are going for $0.05 now. I’m waiting for May or June to become available.
SNAP real strong since last week. Hope some of you bought around $12 because I sure as hell didn’t…
OA – do you think $IPHI is holding it’s long term trend here, or is the leveling off a signal for lower prices? I’m trying to make the case that it’s still holding up because I want to buy, but I’m catching myself subconsciously trying to justify it, so I need a neutral view. Weekly looks good to me.
Hell of a call on this one. Nice job.
My bid didn’t hit!
Hey OA, I’ve been looking at this COST like the sentiment chart. That is, a little aversion right now.
Thoughts?
OA- thoughts on gold? Are you adding to your short gold position here? I’m a little worried in the bear side since it busted thru 1305 today
SHORT GOLD???!!!!! Good luck with that. LOLZ