As always these are meant to be used as an asset to your other technical indicators….
To see SPY open interest and other market commentary click here.
AAPL: Is the accelerated buy back over now that it has been revealed? No idea, but if it’s not then be weary these high open interest calls week after week may not hold as strong (will be interesting to see how it plays out). With the company buybacks, Cooks confidence, Icahn, and possible new products perhaps the tides will finally begin to turn again.
AMZN: So far its staging a nice comeback. I think how fast it comes back will have a lot to do with the general market.
BIDU: Unless more bad news comes out, it seems the worst is over for the stock right now.
FB: Very strong and as I mentioned a couple weeks ago, consider yourself lucky when we get dips.
GOOG: One of my favorites next week if the market remains strong.
LNKD: I have a feeling this won’t stay down for too long, but my feelings don’t mean sh** so let’s just see.
NFLX: Pretty amazing performance. Getting close to overbought territory on the daily timeframe, but overbought can stay overbought.
PCLN: If you read Friday’s post, you already know I’m bitter about this one right now so no comments.
TSLA: Looks fantastic. Another favorite with market strength next week.
TWTR: Can’t keep a good bird down. Sentiment has been a good tell since its IPO. If everyone is waiting to buy it at $45, guess where it’s not going.
Thanks for tuning in….