Killer week!!!! It’s been an amazing October. I’m just going to get right into the open interest for next week. The overall theme for these momentum stocks is to buy call options on pull-backs into support. Much of where support will be found will depend on the overall market in general, but below is a guide...
Last week I discussed that the weekly MACD bullish cross has left us higher 10 out of 10 times. Now that stat stands at 11 out of 11. It was a fun (and exhausting) week. I don’t think November is going to be straight up like October so we got our work cut out for...
Phenomenal week! Although for the second week in a row a lot of things did not pin, it didn’t stop us from being long the right things. Sometimes it’s just better not to go with the pin and instead just go with the chart. We have more earnings around the corner so as usual those graphs I won’t...
Spot on last week being on the bullish side. Last week was the second week in a row that seemed as if nobody was on the bullish page with me (just anecdotally through twitter). However, by the end of the week it seemed a lot of people had been converted. That typically spells trouble, but...
Last week here I outlined a bullish thesis and recommended getting long on dips at specific levels that were outlined. Then on Wednesday when SPX pulled back to 1995 I tweeted out this: It turned out that was indeed very good support and longs initiated there were handsomely rewarded. As a side note, I want new traders (or […]
Last week was tricky, something I had anticipated in last weekends post. One big thing that happened last week is many things failed to pin even though it was monthly OPEX. Notice last week for some stocks I didn’t trust that they would pin and went with the technical picture instead (SPY, FB, etc). This was...
Very challenging week. Honestly I think one of the most challenging parts for me was the amount of bearishness I was reading during the down days last week. I felt like the lone bull. It’s always hard to trust what you know when you see others smart people making logical points. In the end I...
Last week here, I laid out a compelling bullish case for the week and targeted the 200-201 SPY area. I said from there it was likely to stall and even more likely to pull-back. Stall it did, pull-back it did not. If you had the direction of the market correct last week, the opportunities were […]
Insanely great week! Nothing more to say about it then that, so let’s get onto next week. It’s monthly expiration so the open interest tends to stick better and not change as much throughout the week. We are also headed into earnings season, so for earnings plays I don’t comment on the open interest because...
We were completely in-tune with the market last week. I very clearly outlined the scenario to 200/201 level and it worked out beautifully. It even continued to my astonishment showing no signs of anything being given back, which is why we didn’t fight it. Where the market currently sits, makes things a bit trickier than...
Last week here I outlined a more bullish thesis and showed two separate open interest graphs for SPY, the quarterly and the weekly. The main theses was we would close above 192 on Wednesday (check), and that the best pin on Friday would be 195 (check). The path to getting those was surely not smooth or […]
Phenomenal ending to a challenging week. I admit it started out a bit rough, but I stuck to my guns, was open minded and it ended up being an awesome week. Over 1000% in a day is nothing to sneeze about! As I said on Friday the open interest suggests a bullish week ahead, but that was...
Insane week! I did say last week the best pin was 195. The path it took to get there though was definitely not anticipated. In the end it was a very successful week even though I think I need to start checking my hair for grays now. Onto next week. As of now the short-term...
Surprise: A Christmas (Hanukkah) in October
Last week here (and for the last 3 weeks), I very clearly laid out a more bullish bias. Furthermore, I highlighted possible weakness Tuesday into Wednesday, but tweeted out during that weakness “but don’t forget to buy the dip.” I appreciate that so many followers of mine find my work helpful and want to know […]
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