TIME TO DROP THE HAMMER

I appreciate all the responses in my last blog. My intent was not to come off as a guy struggling with depression or a deadbeat in life that focuses all my time and energy on trading. I just wanted to switch it up, and hear what others had to say about how they make time to improve in other areas of life. Great responses, many thanks.

The market acts heavy today, but has done a fairly good job on the lower time frame, using prior balance ranges as support. Let’s be on the lookout to see if something changes in this regard today.

2015-11-06_8-07-02This is about where the market ought to define the lower end of its range for next week. Before you start selling, wait to see how prices respond here.

I picked up $JWN calls for Dec and a YOLO long for $AMBA next week.

More later,

OA

PULL UP A COUCH

Trading has definitely turned me into an asshole. I don’t know if any of you feel the same way, but I think it’s fair to say that in many aspects, it’s ruined my life.

There’s something about the constant self mastery though that is unlike anything else. How to manage fear, anxiety, greed, confidence, and the amount of time spend to develop individual skill sets and an edge. I’ve found this to be what I love the most about trading, aside from the monetary gains and the look of horror on peoples faces when describing what I do for a living.

My biggest professional struggle is finding balance. It may be just me, but post 2008 the game changed significantly. Prior to the financial collapse, people in general were more positive. Trading still had its challenges, but the process was more enjoyable. Even after a dominant performance in 2013 here at iBC, I had to take the time out of my money printing to tell all of you what a bunch of assholes you were. The lack of enjoyment at this sport now days makes it hard to be positive and energetic when I am away from the monitors doing things other than pressing buttons all day. Granted the world is different and people have reasons to be pissed off. I joke often about how each year of this bull market could be defined by a an anti-depressant or amphetamine…but at times it literally took that just in order to suffer through the process of making money.

This last month has really helped me reset from the shit storm of 2014. I’m not back to that high watermark, but will be there by EOY. That’s been my most obvious goal this year. My next, and most important goal is to focus on getting back to finding balance.

Moving forward, I may knock off a part of my day blogging here about something other than stocks. Hopefully, this is something you can tolerate. I hope to get back to the gym…again. I gotta turn this stuff off at the close and focus on a few things more important than the bottom line.

If you have things that you do to find balance, or have thoughts on the topic, feel free to discuss.

See you in the morning.

OA

THE MARK OF THE BEAST

2015-11-05_14-13-29Shares of $FEYE finish -$6.66.

I’m officially married to this piece of shit, but what a perfect mark to close the day.

OA

 

OA BUY: $URBN

I bought DEC calls in $URBN as I want to partake in some retail down here.

I still have 4 more names I want to trade in that space. I will be looking to book gains in $CMCM and $SOHU to finance some new plays tomorrow.

OA

SQUIRREL!

While in the process of researching some trades in retail, I found myself long Dec $TWTR calls here.

Watch for a breakout.

twwwwwitter

RISE OF THE RETAILERS

Select retail names are seeing some favorable reversals this month. $RL, $KORS, $KATE are a few names ripping today.

In After Hours with Option Addict, we did a top down of this group…and tried to sort down to those that were actionable. Of that list, today I am dialed down to $URBN, $DDS and $JWN. Would love a 2-3% drop in $LULU or $COH to add them to my list.

Most of these still have ER on the horizon, but they’ve all been heavily discounted here and volatility in the options isn’t unreasonable.

Will take a position in one or more this afternoon. Haven’t determined which I like the most yet.

OA

$FEYE IN THE HOLE!

Wow. $FEYE barely holding onto a $22 handle. F.M.L.

$FEYE has now become my portfolio STD…taking the place of $BABA. Anyone remember when I went off on that stock earlier this year? I searched all morning for the write up but couldn’t find it. Anyway, yes, now I am officially married to this fat ass loss for me to stare at and curse upon everyday.

I’m going to rotate out of a few names and book some gains this afternoon to pay for some new risk. I have a few biotech and retail names I am interested in. I’ll write up my overall favorites in an hour.

OA

CAN YOU HELP ME? I SEEM TO BE TRAPPED

$FEYE is being completely decimated in after hours trade, down about 15% and sitting at new all time lows.

I have a 5% position in this name, and my basis is a laughable $34.50.

Why do I still own this you ask? Because I am a dumb shit and like to own the worst stocks possible.

I anticipate the open tomorrow will bring a waterfall of sellers, fleeced with panic, fear, and a new found hatred for this company. Any persons holding any position in this stock now represent an easy target, backed into a corner with absolutely no hope for relief.

So I can capitulate for a massive loss, or ride the morning pain train.

So yeah, I got that going for me. Was hoping that might cheer some of you asshole trolls up a little bit, seeing as you’ve gotten quiet lately. Feel free to point and laugh.

 

ANALOGUE UPDATE

Road Map2

No words. Moment of silence.

*hat tip @bullbear365 for the update*

HOUSE KEEPING

We’ve been talking about the market leveling off soon and taking a breath.

@RyanDetrick offers great market stats via Twitter, and posted this seasonality chart for the month of November, going back to 1950.

CS5t2cHVEAAU6m2.png large

The first week of November was a smash, but things typically die down for the next few weeks before rallying into Thanksgiving.

Again, this has no bearing to why we made $6 per share in $NK this week, but it may be good to know if you are holding market correlated instruments.

Participants are still looking for action here, which should make trading breakouts and such a pretty fun gig for the next few weeks.

I am booking a few things today, and have bought up some $X calls.

More later,

OA

Page 67 of 70« First...102030...6566676869...Last »