Home › Forums › Market Discussion › Market Talk 3/6 – 3-12
- This topic has 67 replies, 12 voices, and was last updated 7 years, 2 months ago by Suresh.
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March 8, 2016 at 11:23 am #4874Jose Fabian Paniagua ReyesParticipant
Steve, what about using an stranddle or an strangle in celg?
March 8, 2016 at 11:35 am #4877Dina LazosParticipanthey hey! not certain if I’m posting in the right place but it is tuesday, march 8 at 10:35am and I wanted to say that I’m super happy with the forum – it saves me from having to scroll thru the whole day looking for … whatever, I can’t always be in the chat from 9-4p so whenever I can get in there, I review the day. Now I don’t have to! Thank u Steven! Huuuuuge time saver so far! One thing Steve – can u post the link to this week’s forum at 10a before u leave the chat? I know it’s probably annoying but until I can find the forum quickly on my own (couldn’t reach it from member’s area) or until I bookmark the market place topics page and it holds, I’d really appreciate it.
One quick question on the parabolic shorts: u said to be aggressive with profit taking – now I’ve had a problem with not letting my trades run in the past and missing out on the bulk of the money made so I started setting target P/L percentages not just target prices for the underlying and it has helped a lot but I’d like to know what u do,thanks!
March 8, 2016 at 11:36 am #4878Roger KimballParticipantSteve – Is there anyway to close the chat but still allow access to the discussion that was had previously? It is often very helpful to be able to scroll back and see the answer to a question.
March 8, 2016 at 11:44 am #4879Steven PlaceKeymasterDina – I’ve added a link to the sidebar.
Roger – we’re working on that.
March 8, 2016 at 11:44 am #4881Dina LazosParticipantoh yeah – that would be really good, i just went back to the chat ’cause there was a link I wanted to check out and now it’s gone but didn’t u say that stuff from the morning chat would transfer to the forum? like your answers to questions and links from other people, if they wanted to share something … that kind of stuff. just a few tweaks and this’ll be great!
March 8, 2016 at 11:44 am #4882Steven PlaceKeymasterDPZ looks hot right here. Post earnings bull flag, odds are it drifts to 140.
March 8, 2016 at 11:45 am #4883Dina LazosParticipantgotcha just saw your answer above =- thanks!
March 8, 2016 at 11:51 am #4884MarcoParticipantAnother suggestion: the ability to subscribe to a thread without the need to post an answer to it.
March 8, 2016 at 12:10 pm #4886fazParticipantMarch 8, 2016 at 12:34 pm #4890Steven PlaceKeymaster@Jose, you could look at a straddle in CELG… the problem is the current price isn’t near a strike price.
I think if CELG can get into 105 that will be a good place for an Apr 105 straddle buy.
March 8, 2016 at 1:06 pm #4894Steven PlaceKeymasterNotice how the market sold off but really didn’t have a ton of followthrough to the downside.
Why?
Because we are seeing a time based correction that is rotational in nature.
That hot money in energy and commodities is coming out of the market… but it’s getting put into play into tech.
We aren’t seeing broad based selling but simply pockets of weakness and strength.
This will lead to frustrated shorts and cash on the sidelines finally coming into the market leading to another squeeze. I don’t think it will happen this week but there will be “seller atrophy” soon.
March 8, 2016 at 1:21 pm #4895SureshParticipantSteven, When the money rotates out of the “hot stocks” and goes to the better ones, will it affect the RUT? I am asking about RUT in particular because the stocks that went parabolic were mostly in the small caps. Can please comment on the fate of RUT when these exponential moves get deflated.
I am in RUT income trade with you and as you know RUT can swing a lot (up or low) with in a very short period. Does, it make sense to hedge the position?
Also, the commodity stocks that you shorted thus far, you said to take profits aggressively. Does it mean to have a profit target of certain percentage?Thanks
March 8, 2016 at 1:41 pm #4897fazParticipantMarch 8, 2016 at 2:36 pm #4898Steven PlaceKeymaster@Suresh, Ideally yes we start to see money come out of IWM. It certainly is the most overbought index out there… it was also the most oversold.
The RUT can easily retrace to 1060-1040 and still be “constructive” from a technical standpoint.
March 8, 2016 at 3:56 pm #4903Dina LazosParticipanthey steve – do u think we’ll see any follow thru to the downside tomorrow? I was looking at market internals and it looks like we have a shot at it, futures are in the negative still but not by much, what do u think?
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