All day long. Never fun when you are long positions. I am glad that I have been mostly staying away from short dated options. Maybe new month money comes in tomorrow for a decent rally? I think it could happen also taking into account being short-term oversold. Then the question is, have we seen the […]
Actually your eyes are probably on TWTR often, but this time I mean the stock not your feed. Very nice day overall for my positions. Kind of in a rush today so not going to update all the positions I’ve mentioned in my #SassyMusings. I did sell the QQQ calls from yesterday though which was […]
Ok let’s be honest, a strong bounce off lows this morning really isn’t any surprise. At least it shouldn’t be. Things definitely looked bearish this morning, but the bearish stuff I read all weekend was a little much. Seemed everyone was expecting a correction. I just can’t follow along when we are clearly in an […]
SPY: We have a very large range here and perhaps we will get a large range of choppiness next week with GDP, Fed rates decision and Jobs #’s. 196 is where we can look for support and an area to get long if it gets there. With regard to going higher, it has room to...
Hope everyone is having a nice weekend. I think there is a good chance we are in for chop next week and a pick up in volatility. We have more earnings, GDP, the Fed, and Jobs #’s. My hope is that we start the week off weak in which I will buy dips (as long...
And the saga continues. Today was Z and TRLA. Man that had to have hurt. Very choppy day. Was a balancing day. Trend still bullish. However, with those small pullbacks we keep getting I say better to go out further out if using options. That way if you get stopped out there is still premium […]
If you had bought a ton of PBYI calls yesterday. Oh well! Regardless biotech in general is also doing nicely and there are a lot of names I am very interested in getting long. GILD can make that even better if they report well. Being patient for now. AAPL monster today and dips should be […]
So everyone eats burrito’s and CMG is a monster, while NFLX is just meh. I posted this morning that the risk for NFLX this week was to the downside based on below and that investors obviously weren’t that impressed. Next up, AAPL. Yes the bulls are still in charge. SPY went though the 198 calls and […]
Let the fireworks begin! CMG and NFLX – fun times!!! Market just hanging out as if it is waiting for the next catalyst to make a move. Earnings could potentially be that catalyst, but until we see a bigger move the trend remains intact. As I said over the weekend I am currently working under […]
Just kidding. Everything saves this market. Regardless I don’t see us out of the woods just yet. We had a remarkable turnaround on Friday, but I wouldn’t say the coast is clear. As I’ve been saying for several weeks now the short term trend is choppy consolidation. The longer term and intermediate term trend is […]
Many of these names have earnings next week so these graphs aren’t that useful just yet. After they report though I will update their charts and post them by morning so we can see if price gets affected by high calls or puts anywhere. The overall market I’m just not sure about. I know everyone...
The simple truth of the matter is no one has a clue what ride this market is going to take us on next week. If they say they do and you follow them on twitter, I recommend you unfollow them. Historically we are entering into a seasonally weak period. I definitely do not let that...
In the scheme of things what the market did today really isn’t bad. We are still near all time highs; however, if you are holding call options it seems really bad. I definitely got hurt today. Luckily I have for the most part stayed very light (mentioned over the weekend and the last two weeks) Choppy action […]
Old tech is back! Actually it’s kind of been back this entire year. As long as I can make money off of it I don’t care. On Monday I couldn’t think of a good chart to post for my chart of the day so I thought I would give a set up that I had, MSFT– […]
Warm welcome to Wall Streets newest Street analyst, Janet Yellen. Banks have delivered this quarter and I’m pretty sure a lot of people are unhappy to see their theories get trashed. Given that much of what was sold off recovered by the end of the day, is anyone taking Yellen seriously or are they just […]
I wish I had something eye opening to say, but yeah ummm, I really don’t. I came in holding V and AAPL which I sold out of and kept a runner. I bought GRUB today and it looks good so far. Little bit of a fade toward the end of the day, but I am […]
The main takeaway that I glean from this and where the overall market is that we will remain in a rangebound choppy market next week. SPY: Just based on this alone, I see a range of 195 to 199, which tends to be more bullish than bearish as we have room to go up more...
Hope you are all enjoying your weekend. Here is the current market picture: Long term trend: up Intermediate term trend: up Short term trend: range-bound, possible pullback There are times when I have trouble choosing from so many set-ups and times when I find few and don’t trust the market environment for even those that I...
Last weekend I discussed being very much on the sidelines as I saw the possibility of rangebound action or a pull-back. The IWM, just as it did a few months ago led the way down last week. Although the Russel is helpful in gauging the overall risk appetite of the market, it should not be […]
…..I would be hopeless today. If I had come in a bull, I would have come in super annoyed that all my longs were down, but would probably have hopium that they come back (yet not actually thinking they would). Well I guess hopium worked….that or the PPT. I have been keeping things light and don’t […]
I’m not sure if the market is getting more boring or if my boredom levels are more sensitive. FB which I bought yesterday off the 50-day (I tweeted a chart of it yesterday) worked nicely. I’m out of the trade for now. So far the bounce I discussed on the Option House pre-market show today […]
I’m writing this before the close cause I have to leave early so if something crazy happened at the end of the day some of this won’t be relevant. My IWM call buys that I mentioned yesterday sure didn’t work. But boy am I glad I sold out of most of my long runners yesterday while […]
A bit of a healthy consolidation day. The selling was never heavy or panicky. I still think we will likely stay below those calls in the SPY open interest that I highlighted this weekend. The IWM not pretty today, but I actually bought calls at the end of the day near the 20-day. I’m thinking […]
When will it run out of gas???? I honestly have no idea, but I will say that this market is certaninly unreal. I am very thankful that I have been on the right side of it and benefitting along with other bulls. We are at all time highs, we had good job numbers (on the […]
For now price is telling us that things are bullish. The set-ups I posted are all long and some of them I would like to try to get on a pull-back. There are a decent amount of set-ups below, but I want to keep my trades limited because I think it is important to see what...
I see the possibility of a pullback or rangebound consolidation in the indexes. Depending on the extent if that is the case, some of these momo’s won’t work long so as always I will do my best to trade what I see. With earnings coming up we may see some run-ups into them so that...
This will be one of my worst posts, but it already feels like the holiday started. Bottom line, overbought or not things are still moving and I think if we keep going higher it won’t be so great for the market, but if we just consolidate sideways then really no reason to short just yet. […]
Volatility Perking Up Next Week?
Below is an excerpt of what I wrote last weekend. Indeed we did see strength followed by weakness and a close below 198. Despite many bullish earnings releases on some of the momo names such as AAPL, FB, and BIDU the market is showing some relative weakness particularly in the IWM. We have seen this […]
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