Love this quote:
I began with simple systems. I got smarter and made complex systems. I got even smarter and now I trade a simple system.
- David Stendahl

Revenue missed, and NonGAAP is what saved EPS. Terrible earnings, poor guidance, and they are laying off another 1000 employees to make more room for debt burden.

However....this is not a bellwether for the broad market ER expectations. This company is a relic

PCLN broke 1270....close below and we should see 1250 tomorrow

Legged into a few GOOGL April29 $900 Calls @.15

Hola

Obama Announces Unexpected Meeting With Yellen Following Tomorrow's "Expedited Procedures" Fed Meeting | Zero Hedge

http://www.zerohedge.com/news/2016-04-10/obama-announces-unexpected-meeting-yellen-following-tomorrows-expedited-procedures-f

"This is notable because the last time such a meeting took place was on November 21, less then a month before the Fed's historic first rate hike in years.

Moments ago things got even more interesting, when in yet another unexpected announcement, the White House said that both Obama and Joe Biden would meet with Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said late on Sunday. The meeting is expected to take place some time "in the afternoon."



Sent from my iPad

Well done

Yeah expectations are pretty low. Bets to keep time horizons short, avoid broad index swing trades, and pick stocks at support/resistance for trades. We shall see

Take a look at my post below to UPB....sectors could paint a different picture. I'm staying agnostic until price says otherwise

SPY is rolling over from overbought territory, but when you break down the sectors most are oversold and coming up. With sentiment so bearish, I'd expect to see some sector rotation to keep the bull case running....worst case solid sideways action.

Volume By Price. Bars on the left side of the chart that show where large volumes of buy/sells have occurred in the past at certain prices. When price breaks these levels and there is a cave of sorts, it's pretty thin trading until the next larger band (called a Kirby).

PCLN - While I'm dicking around here, PCLN Bearish/Bullish scenarios & a 3rd chart showing the battleground taking place right here at massive VBP band.

BEARISH (H&S)

BULLISH (Descending wedge)

VBP Band

BITA also above massive support @VBP band.

BITA - Multiple bullish patterns...IHS and 2 C&H patterns. Above ~$27.27 and it should take off

So sorry, didn't see this until just now. Looks about right. Hang tight, I'm on the iPad this morning so I'll post a chart in a minute, but it will be somewhat crude. Promised the wife I wouldn't get in the computer this Sunday.

Just get used to the basic mechanics of options, you have to be absolute in your comfort and knowledge before venturing into a short. It can be an ATM for income, but it's a defined upside, unlimited downside proposition. The market is at a large inflection point...not one person can tell you the next direction right now.

I wouldn't get into selling options yet. Could be devastating....on an absolute level.

You need level 3 or higher

Agreed....definitely fun

Earnings plays are a 100% crap shoot. Your odds are always 50/50.....and it's more likely 70/30 since all earnings plays will have inflated premiums on options prior to the report.

The implications: even IF you get the direction correct, if the price moves only enough to get close to your strike or even worse exactly TO your strike....you can still be sitting on a loser once IV is stripped out post announcement. Tough....but can also be incredibly rewarding.

CF used to do the same thing on Fridays.....would regularly snag 5-10 baggers in the final minutes on a Friday

Has the look and feel of a tape they'll drag to 3:30 to force position exits before letting the bottom fall out.

Broke 3 back scratchers...

In some PCLN 1220 Puts for next week at 2.60 average. May add more on any strength today.

Yep....and under the radar. I like plays like this

Mentioned yesterday that it had the perfect setup for it. FDA plays are tough

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BITA -Here's the IHS pattern I'm looking at....see if it pans out

Don't discredit a sell-the-news event. ICPT is oversold and there is a volume gap $130-$150. Just keep an open mind

That's good news right thur

They are really defending that 1271 neckline hard on PCLN

PCLN rejected at top of down channel
CMG rejected at 38.2 Fib (455) and headed lower
SPY broke primary uptrend @204
VIX set higher low and is looking to set a higher high today

Added more BITA Apr $30 Calls @ .05

IHS and VBP band break to enter a large Kirby to the upside

BTO BITA Apr $30 Calls @.064

$111.46 is my sell zone. Stop at 10DMA

What exp?

50DMA @ ~1250 if it breaks yesterday's lows. If 1250 breaks it should make quick work of VWAP @ ~1220.

Big ifs though. Resilient this week

My favorite trading day of the week. Let's make some dollars

CMG very close to a resolution of this triangle....it closed @ LOD. 1st time since entering this formation.