Ha Ha! Funny
Icahn is now down over 176 million on NFLX
I wonder if he had hedged his position with put options?
Also, BAC which was highly recommended as a strong buy. Up premarket and now having a major correction.
My expectation that BX will retest the two previous lows of 27.50 before earnings has just happened. Over 800K shares traded in a one minute period at 9:38 CNBC said there was a lot of computerized trading. My only concern is that "Sell the News" could be the end result after earnings for BX.
Remember the decline in oil from it's peak of around 150 in July 2008 to it's low of around 33 in early 2009. Some articles feel that the decline in stocks was a major reason for the decline in oil back then. If this is correct and the present market correction gets much worse or continues for an extended period of time, oil could easily drop below it's production cost. Another point to consider is that the seasonal low month for oil over the past 30 years is February. Maybe that was why oil had bottomed in early 2009.
If the market cannot make continuous new intra-day highs for today, it looks like another afternoon panic selloff is in the works.
Waiting to see if there is a late day selloff today.
If we are lucky, this may reach 35 on Thursday due to trader activity. In the past, there has been a selloff shortly after the earnings rally. If this fails to break through 35, then there is the possibility of a head and shoulders top.
Since the price of UVXY is now close to the previous high, I am thinking of scaling into some put spreads. It looks like the Jan2015, 30/25 put spreads could be bought for around 2.50, or around half the width of the spread for a potential 100% profit. Should the price pop up another 10, I could then close out my short puts at a nominal cost and ride it back down with the long Jan 30 puts. If it were to go into the high 40s, I would probably start buying some Jan 40/35 put spreads. Even at this level, it is probably still a 50/50 chance it could go either way. I like using put spreads with UVXY since the drawdowns tend to be much smaller. I guess I am hoping for a year end market rally.
I am buying the Oct 18, 28.00 calls on dips in my trading position in BX. I am still thinking this may retest 27.50 before earnings so I am a bit cautious about going all in for now.
The general rule for a H&S top is for the price to decline below the neckline by an amount equal to the height of the H&S pattern above it's neckline. I figured in this case, it should drop to around 194 before the traders come in to buy.
What do you think about the article: http://finance.yahoo.com/tumblr/blog-what-to-watch-next-week-the-vix-192518538.html
Has anyone here checked out the corporate headquarters of this company? They have given their corporate address as: 1517 San Jacinto Street, Houston, TX 77002
What is puzzling is that Brown Book Stop in Houston has the same address: https://www.facebook.com/pages/Brown-Book-Shop/490802075370?sk=info
So is this potential multi-billion dollar corporation located in a bookstore?
Recently, there was news that YouTube has spent millions in upgrading in anticipation of the increased uploads by GoPro users. Is there any statistics of the uploads over time by GoPro users? The videos uploaded by GoPro users and drone users are expected to increase substantially in the future. Even if GoPro does not become the first choice of camera in the future, it looks like YouTube will be the ultimate winner.
A couple of the guys on CNBC mentioned that JPM had this privileged information and they may have been the one doing this put trade.