VIX bounced off previous bottoming area of wave tops. If markets push on further into the upper channel then VIX will trend to find a new level. Just something to keep your eye on because the wave needs to push through (and appears to be doing so) or else a quick retreat will occur in markets.

Looks like BBOX is trying to get back into your $1.5-1.75 range.

IrishTxAggie said:

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Looks like BBOX is trying to get back into your $1.5-1.75 range.

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Sitting at the ask on $2.50 Puts

GE reverse head and shoulders and trying to breakout.

Already pointed out the crystal clear double bottom from March and June. Volume flooded in so unless a catastrophic event occurs GE has seen its lows and will now reverse trend upward.

oldarmy1 said:

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IrishTxAggie said:

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Looks like BBOX is trying to get back into your $1.5-1.75 range.

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Sitting at the ask on $2.50 Puts

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I have no idea what this means

Check out BLIN - insane action today

oldarmy1 said:

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GE reverse head and shoulders and trying to breakout.

Already pointed out the crystal clear double bottom from March and June. Volume flooded in so unless a catastrophic event occurs GE has seen its lows and will now reverse trend upward.

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Until they cut the dividend again. Shedding and concentrating should help them in the long run, but I still don't trust management there.

Talon2DSO said:

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oldarmy1 said:

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IrishTxAggie said:

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Looks like BBOX is trying to get back into your $1.5-1.75 range.

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Sitting at the ask on $2.50 Puts

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I have no idea what this means

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Writing a $2.50 Put option out to August 20 for $1 means that whoever buys that pays me $1/share for the right to sell it to me for $2.50. It makes my net price $1.50 if I have to buy the shares for $2.50 OR if the shares are trading close or above $2.50 they won't trigger the option and I will have made $1/share.

Oa, you check out sfix today?

leoj said:

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Oa, you check out sfix today?

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Missed it.

VIX has gone green. Mid channel bounced off.

IrishTxAggie said:

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AVEO closed at $2.83. I'll take a 17.5% day anytime.

I'd personally expect a retrace down to the high 2.60s tomorrow barring any major news (buyout, partnership, P3 readout, etc.). AVEO will eventually need more cash, so keep that in mind if you decide to take a position. Again, this isn't a stock I'm playing with anymore. It is a long hold for me.

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I was close. AVEO touched the mid-low 2.60s this morning and has climbed back up near the $2.80. That could very well have been the last chance to get it in the $2.6s. Afternoon volume should keep this in the $2.80-$2.90 close. $3 by the end of the week isn't out of the question here.

wouldn't be surprised to see the market pull back a bit and take a breather before powering through 2800 with force late this week/early next week. The S&P has run almost 100 points. QQQ names also at resistance. IWM is pulling back a bit today and they have been leading this whole time. Think the rest of the market follows.

I just realized I said sfix but your wife's stock is Etsy. I'm losing it.

Yep. MU and LRCX are still undervalued

AIMT is another biopharma company that I have taken an interest in. Working on food allergies. Pretty solid results with peanuts so far. Major buyout candidate I believe. Been in somewhat of a stagnant position lately, but is do for a breakout. Recently appointed a new CEO that was the CCO for Ultragenyx after a previous planned retirement of the prior CEO. Nestle has a large position in this company as well.

leoj said:

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I just realized I said sfix but your wife's stock is Etsy. I'm losing it.

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That is a sore subject!

She sold it all at $45. Asked me late in the day when it had hit above there and retreated if that looked like a double top back to June 21st and I said probably. She killed with that stupid stock.

BBOX found some support. You will/should note that before its dramatic drop it had major support just above $1.85 and one should be expecting that to reform on the heels of the news. So far it bounced off that and is back to $2.

Selling all remaining GILD from the "screaming buy" when it was at $70.50 right now. When I say selling all I mean trading shares and even that is a combination of in the money covered calls and straight selling it. Great move!

Not a believer in the Financial sector still. Want to see some breaking of this downtrend, 1 day explosion - 2nd day failure to continue and go negative back to wave down. Look at BAC, JPM for examples. Identical wave moves third time.

Here's JPM chart - What do you see? This is a test. Something important right now is in play.

AMC reverse head and shoulders approaching breakout. Ant Man and summer movie attendance must be drawing traffic.

oldarmy1 said:

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Not a believer in the Financial sector still. Want to see some breaking of this downtrend, 1 day explosion - 2nd day failure to continue and go negative back to wave down. Look at BAC, JPM for examples. Identical wave moves third time.

Here's JPM chart - What do you see? This is a test. Something important right now is in play.

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Lower highs, lower lows, downtrend. Could possibly result in a reversal?

Possibly some exhaustion on the last explosion up? Will be interesting to see the next few days if it holds the green support line, or breaks below to continue the downtrend.

There's a gap to fill at $104.50 that it would need to bounce off of before confirmed trend reversal?

Also, no buy volume seen yet. Big volume after gap fill would confirm a clear reversal.

Another 200b in tariffs coming very soon. I'm down almost 1% my whole portfolio after hours.

Well on the JPM chart note the major support green horizontal line. JPM broke through that and hit new lows but reversed back above it. Still that action combined with the lower low wave tops is a signal to a number of professional traders I know. There's nowhere else to go for a wave down because that would be a full blown confirmation of lost support and JPM would be mid $90's pronto.

This is one of many things all eyes should be on in terms of macro moves. DO NOT get caught in a downdraft heavily trading the bullish side. JPM chart is a warning signal needing confirmation.

So either it falls to lower support levels or you look for volume and chart patterns to indicate a reversal?

What we know now is wait for it to take a direction?

I also see highest volume being selling candles with no reciprocal buying candles in terms of matching volume.

Correct sir

Not even going to look at my portfolio today

If you own a bunch of AVEO it won't be so bad. It's still running

Think we talked FTK before but can't find it. What does anyone know of them?

Ha. I do not unfortunately.

leoj said:

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Ha. I do not unfortunately.

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Not too late

FDC options out to August $23 strike

V


VISA breaking out