BUYS INTO THE WEEKEND

As discussed in After Hours with Option Addict last night, I bought $BIDU calls at the open. I’m still holding the position I bought on 5/4, which expires next week. That hold pretty much had me shitting my pants on the regular this week.

I also picked up $PI calls and loaded into some $SNAP.

I’m stepping into these longs knowing there’s a 50/50 we revisit the lows of this week. Not the best odds, but I like what I picked up that much.

My week could have been insane had I waited for the washout to buy my weekly calls. I’ve added $COF, $EDIT, $BLUE, $BAH, $SFUN, $KNDI, $VNET to my watchlist next week. We’ll discuss these set-ups at the close today.

Have a good weekend,

OA

EYEBANGING BRAZIL

The names $EWZ, $PBR and $VALE have come up recently in discussions about Emerging Markets.

I have no desire to have any exposure to Europe right now, despite Barron’s telling me what a great and crowded long this is in the market right now.

Speaking of which, I closed out my Feb $FXE long yesterday.

I do like Brazil though, and today’s action seems like the perfect reason to step up and invest.

I’m rooting for a market selloff into the weekend. If that’s the case, I’ll start with some shares of $VALE for the long term.

Anyone buying into this stuff today?

OA BUY: $ONVO

I managed to snag $DDD calls a couple weeks ago, the day following their earnings miss.

I’m adding $ONVO here, which has the same pattern that the others had prior to liftoff.

More later,

OA

BEATEN MERCILESSLY IN RETAIL

The Stock Gods we’re displeased with my mention of the breakout in retail last week. Now, I am being tested holding positions….watching big unrealized gains transform into lunch money over just a few short days. Especially SHLD…but this situation seems all too similar to early 2012. I’ve been a huge Lampert fan ever since.

I’m convinced there’s more left to this recent run in various names, otherwise I’d head for the hills.

I bought some $CMCM today and on the fence about taking off $VIPS calls into earnings. I’d be risking a double, but naturally I want more.

I missed $NTES and $MULE today which rendered my day pretty much worthless.

Hope you’re fairing better than I am. Most of you, anyway.

AHWOA UPDATE

Folks, totally spaced that OA Jr’s Stock Market Challenge luncheon was today.

My apologies, but have to cancel After Hours with Option Addict.

We’ll hit next weeks watchlist on Monday.

Have a great weekend!

OA

CHINA FTW

I like to use $KWEB as a proxy for the China internet stocks. That ETF broke to multi-year highs just recently. As you know, I’ve been trading the shit out of these China tickers…just trying to ride the momentum which is always fairly strong this time of year.

I bought some $BITA and $YY into weakness this morning as discussed on After Hours with Option Addict last night.

These stocks are starting to break out from multi-year downtrends/consolidation patterns.

I am currently long $BABA, $BIDU, $YY, $BITA, $VIPS and $JMEI.

Find me some more of these to trade please.

LIKE THEY SAID, RETAIL IS STILL DEAD

One of my bigger rotation themes this year was a shift back towards consumer oriented plays. If you were on the last couple Boot Camps, this was an accumulation idea I had for Q1-Q2 of 2017.

I’ve made a few bucks in $SHLD and $COH and still have $JWN, $LULU and some BTFD $UA. $RETL was the last purchase I posted here on the blog…take a look how the chart is developing…

Got any retail names you like here?

A WORD ON THE VIX

According to VIX, investor fear levels are hitting lows not seen since 2006. I remember that market phase like it was yesterday. There was never a time in my career I had grown more fond of trading and fond of the market in general.

I’ll keep this brief, as there’s only one detail you need to remember about a VIX heading to new relative lows.

The VIX bottomed in 2006. The market topped in 2007.

What took place between those two reference points were opportunities that changed my life. Don’t miss what’s coming until you know the top is really, really, really in this time.

OA

THE MOST TORTUOUS TRADE OF THE YEAR

This chart/trade makes me want to punch holes in my wall.

Anyone care to tell me when this will breakout? Even better, what’s the lowest price I can pay for it before this breakout happens?

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