The Facebook lockup was the last best hope of shorts scoring before the end of summer. This price area is where the lockup ended and it seems to be holding. If valuation wasn’t such a scam, it would be screaming higher.
Today is YELP. This stock, and today’s action, may be the greatest shortfucker of the year.
We are now about to witness the J-hole in all its glory. Do you realize that every speculative short has been covered? I generalize, yes, but my thesis is sound.
Few want to be short anything in front of the J-hole.
This trading scenario falls in beautifully with the Max-Pain outlook from yesterday and the technical picture that shows most “everything” up on diminishing volume and at major resistance.
If we weren’t so scared of the next trillion digi-dollar stimulus, it would be a picture perfect technical setup for significant downside action.
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Are you saying it’s about time for one day of sheer terror?
you short scott?
I will let you know tomorrow…
Good luck.
Scott, with all the data looking “good”, do you think Ben could actually print to get us over the proverbial hump? …. seems like everyone is expecting disappointment now
the only folks that are disappointed are the ones expecting what they think is going to happen. expect nothing and you’ll never be disappointed. there wont be any qe. there will be empty talk to make everyone feel good that the clam has your back……….lol, NOT.
I would like to see a bit of panic in GLD to the $157 range the next two days. However, the financial ETFs look ready for a nice move up, though, so the outcome should be pretty interesting as I try to fit the pieces of this market together.
thanks scott, the drought, hurrician and all companies reporting beats but misses on bottom line. joy global comments today have me wondering that even with ben speak tomarrow ,we could get a pullback with more qe or not. more qe could be a negitive for the market, imo. we could get an inital bounce then fall. im 50% cash.
fdx is gonna be the sweetest short yet to come. start finding your spots on the options chains going out a few months. and lay out the spreads. and then watch.