HAVING A FABULOUS FRIDAY

I’m as bullish as I can get on China here. Take a look at intraday charts on any names such as $SINA, $SOHU, $BIDU, $JD, $WBAI, etc. Very bullish flag and wedge patterns developing over the last few days.

I’m also very bullish on biotech next week, as discussed in After Hours with Option Addict. The $IBB has some pretty decent balance here at these prices, and has been a laggard of this rally, IMO. Rather than post a bunch of charts in this post, I’m going to summarize by saying I’ll be starting some call positions in $CELG and $KITE by EOD.

I’m also loving the 1998 analogues being thrown around on Twitter today. Makes me feel pretty validated for spending the last couple years explaining the consistencies, correlations and predictable outcomes.

Have a good one,

OA

NO. DIPS. FOR. YOU

Weird, huh? I warned of this outcome for a very, very long time.   Pretty cool to be totally loaded for this and to sit back and watch it in all its glory. After a few months, everyone that swore off stocks will slowly come back to the fold. For all the point and figure chartists out there, the $BPTRAN, which is the bullish percent for transports hit 15% a couple weeks ago. FIFTEEN PERCENT! I spent a lot of time on the Dow Theory sell signal last year, debating its reliability with another blogger. It produced a strikingly similar signal in 1998. Take a look at a chart going back to the late 90’s of the $BPTRAN:2016-07-14_8-03-31This is a once in 5 years type of signal. This is also why these stocks have been ripping, selectively. The bullish percent is great at identifying investable groups/sectors with fairly objective analysis. 

SITTING ON AUTO PILOT OVER HERE

I nibbled on an oil long down here today. I booked a big win in $TWLO from Monday. Picked up some $SQ as well.

I have anxiety about letting go of longs here. As that happens, I’m left with very little set-ups out there to trade in. Everything has moved to the point where risk is tougher to manage on a new entry. Easier to endure pullbacks than to be sitting there watching with nothing in the queue to buy.

I’m watching $WUBA, $STMP and $GOGO…and stacking inventory like a mutual fund over here.

OA

TRADE IDEAS: $ATHM $SQ

I’m fully loaded on China names here, but $ATHM caught my eye.

2016-07-12_9-27-25Also, really like the profile on $SQ here.

2016-07-12_9-28-15
Top pick here today?

Why you should consider trading solar

Here’s a quick look at the $TAN.

tanThis year, I’ve had a lot of success tracking stocks/groups that have this same longer term pattern.

I started in on some $SPWR and $VSLR here today.

Thoughts?

OA

NO DIPS FOR YOU

I’d like to take a moment to pay my respects toward stocks. New all time highs in the $SPX today. The Dow is not too far behind, and the others will follow. The last two years have been some of the hardest I’ve ever faced, and my confidence never wavered on what lies ahead.

Pain from here is obvious, but what I’m most interested in is when the defensive positioning turns back toward risk. Probably makes sense to start tracking risk baskets to see at what point traders start to let their guard down a bit and get more aggressive.

As we start to trend here, some of the methods we recently went through in the stock picking Boot Camp are going to help you see a lot of these rotations as they set up. Most of my posts from here on out will be focused on that. Trying to identify opportunity in advance as always. I won’t speak much on the market anymore…but will let others do all the heavy lifting in that department.

From here, individual ideas, charts, and hopefully more interactive analysis.

OA

 

THE STOCKS. THEY WANT UP.

Crazy to think that two weeks ago I watched a global selling frenzy rip through financial markets, only to transpire into a move back that puts us within a few percentage points of ATH’s.

Was another great week this week, and I’m hoping to see a little more follow through on Monday. I picked up some $CTRP calls at the open and am developing a watchlist to discuss in After Hours with Option Addict after the close.

Would love to hear what you’re trading today…

OA

 

FADE METALS HERE?

$GLD, $SLV, $GDX are all registering overbought signals today, according to my indicator. Last time this happened was 4/29, and the metals sold off hard.

The option flow is pretty skewed to the bearish side in GDX today. Anyone taking a shot at a short here?

OA

VERY FEW THOUGHTS HERE

Welcome back from the weekend. Nothing better than a 4 day stretch where the last thing on your mind is stocks.

I’m doing my best to find a rhythm here. My only thoughts here this morning is that I love that move in the Shanghai, I’d like to short Gold, and I just took a long in $GS with a tight mental stop here. The market spot isn’t much to get excited over though. Like most, I’d like this thing lower.

Still watching $BIDU, $TOUR, $TAN, $KITE, and $KATE.

More later,

OA

THERE’S A SCARCITY OF SETUPS

In as long as I can remember, there’s literally no setups out there to trade. I bought some GPRO yesterday and GOOGL this morning…but I’ve only got two other names I’d trade here and that’s all. CENX and GME.

When this happens, either the market is going to correct a bit, or the pain trade is in effect across most stocks. I’m thinking the latter with how strong breadth has been. A V reversal from the middle is a tough market set up, but we’ve obviosuly found eager buyers.

I am still positive on the outcome of all this. I have minimal cash available here, some underwater call positions, and a fully invested LT account. Time to set sail soon.

OA

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