bears--Thanks! How far back does the bad blood go between you and stoxx? I don't know about those past picks, but the first time he mentioned FANG it went on a tear. And it would have worked again the second time if anyone kept buying more at lower levels, which of course is very dangerous with a falling stock. It only worked the second time (FANG) only because we had a confluence of factors that all helped the market to rocket higher--(China stepping in, Fed comments suggesting rate hike may not happen in Sept, and better than expected GDP numbers). All this together probably had many short running for the exits and propelling the overall market higher. Stoxx did hurt his credibility recently when he talked about making a big buy in AAL. If I remember correctly it would have amounted to around $2,000,000. I don't think anyone talking on message boards is buying in that size. I'll take a look at ADI and if I do buy any will do so carefully.
Haha. Hadn't even heard of force touch. My first thought was TASR, but that's a four letter symbol. Googled and read about it--sounds interesting. But I didn't find anything about who makes it for AAPL. I'm probably the only one here who wants to know, but am always open to investing/trading new stocks. I give up. What is it?
Sold the $39 calls expiring next Friday for $1. Now have sold $4.70 worth of calls and will maybe see my stock called away this time. ACI now up another 18%, from $1 to over $8 in three weeks!
If I was going to do anything with coal stocks, I would be buying puts. Just saying a move from $1 to $7 in three weeks is impressive. Not sure what tear higher in airlines you're talking about, unless you mean the tears that happen during crying. I have been selling covered calls monthly and now weekly at $40-$42 trying to get my stock get called away for a nice profit (was $3.70 per share extra premium picked up on shares bought at $40) but can't ever seem to get it to close above my strike price.
Anyone see the move in coal stocks? ACI from $1.05 to $7.03 in about three weeks. Made me smile when I saw the big move in FANG today--figured that would make our board very animated. Incredible move the last two days, but very annoying AAL not part of it.
Any time you see a huge spike in VXX it is worth shorting at least a small position. If you look at the long term chart you will see it goes down, down, down. Any spikes have been short lived. I have bought in the money puts (always pay a little more and get puts at least a couple months out in case you're too early) several times and have made money each time. The prospectus for VXX supposedly (I haven't personally read it) states that over time it will go to zero. Of course, yesterday morning was the ideal time to short VXX. Not sure I would do it now, unless you want to try a small position. Good chance it pulls back below $20. You will get another opportunity. Wait for a big move IMO.
Congrats to all who bought on the dip and those who did not get scared out of their shares.
If you like jumping in during emotional events, take a look at VXX, which reflects volatility. It spikes dramatically on days like this, but with any rally at all, totally falls apart. The prospectus supposedly states VXX is structured to go to zero at some point. Look at the long term chart, and especially how quickly any VXX rallies fail. Buying in the money puts usually works fairly quickly, but pick a date far enough out in case you miss in the short term.
Long time to wait in this market, but will probably work. With options premiums this high you can likely sell the calls and work your way out of a jam if you wind up owning the stock.
So do you plan to buy shares today? How many? Many stocks that looked cheap are getting much cheaper.
There will be plenty of panic selling among those who have been unable to sell. At some point there will be some great bargains created, but impossible to know at this stage where the bottom is.
Might turn out that the open is the low for the day. And GPRO is a stock that can move up quickly. The time to short is nearing an end IMO.
I agree with you and tiptoed in today to start a partial position. Also like MBLY and ALDR (actually up today) to bounce.
You would think it would be very bullish, but look what the stock has done during oil's swoon.
Uncle--I have been selling covered calls on AAL shares bought around $40, even though I thought AAL would go higher. Since the stock seemed to be stuck in a range, I took the conservative approach. So far it is working well. I had pocketed $3 per shares selling calls twice, and today sold the $41 calls expiring next week for .70. With a little luck I can keep making money with this approach, as my first buy into AAL was too high ($46). I could have sold all my shares over $43 recently to basically break even, but hope at some point the stock takes off so my less expensive shares get called away and I can unload my other shares as well. I can't buy puts because my trading is in a retirement plan.
Todd--I think the word you're looking for is "support", not resistance. Glad I stuck with the approach of selling covered calls. Keeps lowering my cost basis. For anyone who uses options, now is a good time to start looking at buying some beaten down stocks you like and selling covered calls, as the premiums are good. Some of the stocks that have been strong and have good potential to bounce also have a nice premium for covered calls.
I like GPRO, DGLY, ALDR and a few others. Stoxx you will like that CRR and RRC are still green.