No point in watching futures tonight since it'll all change when the employment figures are released at 8 am then Powell has a conference at 10:15 am. Watch for whipsawing then KA-POWELL! big movement up or down. I'm almost all cash, waiting to see what happens.
Not real bullish on Costco, but charts don't lie. Inverted H&S like the rest of retail (see XRT). Long on calls for a day.
Good company but overpriced, similar to Costco. High PE ratio, low dividend yield. Doing a small earnings play here with out of the money puts, expect it to close the gap.
Still looks to be a bull flag except now with a lower target (which makes sense since it lines up better with the Fed announcement), flipped my puts on open and made some money on the gap fade with XRT and GM calls. Still long on EWW and EWZ. My earnings play of the week is RECN Jan 18 $15 calls, but I've got less than $1k into that play. Premium is too high on...
Breakout and momentum play with weekly calls. EWW options have good liquidity, going with weekly options for the gap up tomorrow. Dumping if it gaps.
Almost perfectly symmetric inverted H&S on the intraday chart. Faded the gap this morning with XRT calls, no position right now. Anticipating either a 2pm market pump (like the past week) and/or a gap up tomorrow. XRT will be my afternoon play if the charts look right... if not I play the gap tomorrow morning.
Played GM calls for the gap close today, but I'm guessing this forms another pennant then drops like it did last Feb. Who really expects autos to do well when everyone's calling for a recession? Buying puts if it throws a reversal pattern Friday or Monday. Guessing the computerz will jack the futures up tonight after losing money today. You know it's a short...
The Latino Trump was inaugurated, and it looks like EWZ (Brazil ETF) is now breaking our of a bull flag similar to last year. Can't say I'm bullish on the market, but this might be a good short term trade. Long EWZ Jan 11 calls. I've been playing with EWZ for a while, surprising amount of liquidity in options for EWZ (Brazil) and EWW (Mexico). Also long on XRT...
Not really sure what we're looking at here on the intraday. Could be a bull flag or a head & shoulder pattern. I'm guessing bull flag since most of the corrective bounces we've seen have ranged from 6 to 12 trading days. I'm still holding FB and MNK puts, hoping to flip the FB puts Wed. When in doubt, short crappy stocks. Plenty of overpriced stocks around...
I'm expecting an end of year selloff that will start some time before Friday afternoon. FB is one of my top picks for the selloff, though I think all FAANG stocks will show weakness due to end of calendar year selloff. Targeting $142 - $144 point for buying puts, expecting to hit that by sometime Friday. Will buy puts Monday morning for a daytrade if it does...
I expect market weakness going into Friday and Monday, which is the last day of the calendar year. You figure investors have to sell some winners to offset the losers for tax purposes. In addition, I expect more outflow from mutual funds, ETFs, and 401k plans since we're talking about Friday/Monday. I expect FAANG stocks to take a hit. It's not even about...
Ridiculous amount of buying at the end of the day the past 2 days, leads me to believe that we won't see a selloff tomorrow afternoon. No more panic selling of mutual funds, 401k, margin calls. If anything the end of day volume leads me to believe that people are putting money back into funds, since they seem to buy at the end of the day. Also, there's a bull...
I'm not bullish at all, but you go with what the market gives you. Strong retail numbers, market getting a bounce. The overnight computerz are designed to pump futures, so I'm holding this overnight and hopefully dumping on open tomorrow. I like to use XRT and GM as surrogates for SPY and DIA options. Long on both until market opens tomorrow. I'm pretty sure...
Stocks are starting to hit support, looking for ones with room left to go down. This one is obvious, needs that next gap fill.
I'm not really an Elliot Wave guy, so I'd appreciate any comments especially if I'm doing this wrong... My best guess for this week is that we get a wave 4 bounce on holiday low volume pump, and a final drop Friday afternoon and Monday as funds and investors sell stocks at the year's end. There's absolutely no reason to think we'll see any significant inflow of...
I guess I should have bought some puts, heh? Appears indeed to be a head and shoulder pattern. One thing I noticed is that AMZN reversals happen with a big gap down. Look at the last 3 reversals.... So I'm looking for a big gap down, and maybe I'll buy some calls when that happens. No AMZN position right now, but I'm bearish until the end of the calendar year.
Ridonkeydonk selloff, with MFI below 15, but that won't stop the selloff with record outflows this month. 9 years worth of selling to be done before New Years. Almost as stupid the parabolic climb in January, the market gets stupid both ways. There might be a bump up next week, but the market has sold off every time the computers try to pump it. Warned...
There's a chance it'll double bottom like it did before/after Thanksgiving, especially given the half day of holiday trading. Not going to get bullish until it breaks the trend line regardless. At the same time, I'm not going full bore into puts when the market is oversold. We'll see what happens...