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With Farcebook's earnings after the close, the market is poised for a breakout move... Unless Farcebook drops a deuce. Possible but not probable given the top tier crook theft involved with that scummy organization. Bears are getting ground into dust by massive earnings theft being reported by the megacrap crooks. Trade wars be damned.
Summer volume is noted. Increased chance of crook manipulation noted.
Semis are on fire. As long as sector remains hot, no pullback for AMD, but resistance may be approaching. AMD is not a good buy here as it is very extended, but it is not a good short either. Amazing how this crap couldn't move for months, now it is the best stock to ever have existed... not.
Also, stretch pants are the new tech, which pretty much means bulls rule except for a one day wonder sell off based on hyped news, fake news, or whatever news.
The Bots have slammed the market into resistance in under two trading days. 15 minute is stalling out. Too far too fast. The Bots got greedy. Watch for fake news to push the market one way or the other. Real news is oil pricing in imminent war between Persia and Judea.
http://www.livecharts.co.uk/MarketCharts/crude.php
http://www.thegatewaypundit.com/2018/05/report-iran-planning-on-firing-barrage-of-missiles-at-israel-using-shiite-militias-in-syria/
OLED - Missed on both profit and revenue. Sellers tried to take stock down further, but failed forcing shorts to cover. Now up 7% on an earnings miss. What's next? After the shorts are done covering, I would expect OLED to roll over. Earnings misses are not good for stock price expansion. One sided up yoyo psycho market has also helped OLED today.
OLED - Reports after the bell. Stock has been hammered due to concerns over Apple business shriveling up but seems a bit overdone. Then there is the idea that the big money for OLED lies in lighting panels. If true, then the stock is a real discount at these levels, but that still remains to be seen. Stock could easily fall another 20% tomorrow because earnings can screw the eyes right out your head, but that remains to be seen
https://finance.yahoo.com/news/better-buy-corning-inc-vs-183700264.html
https://www.fool.com/investing/2017/10/31/this-is-the-real-reason-to-love-universal-display.aspx?&utm_campaign=article&utm_medium=feed&referring_guid=293e5f29-b42a-4694-8362-51e9a4330b84&utm_source=yahoo-host
The way defense stocks are selling off could lead one to believe the orange deity has banned war and will dismantle the armed services any day now.
https://www.cnbc.com/2018/04/24/defense-stocks-tumble-as-market-sells-off.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo
AMD - Agree. The May18 14 calls are too far out. The 12 calls are going for .15. The 11 calls are going for .31. The 11 calls are seeing over 4000 in volume and are the most active May18 strike today.
The chart for AMD is bearish. The sector is bearish. Shorts are all over AMD. The setup for a violent reversal on a earnings surprise is there, but a failure on earnings will bring a lot of pain.
https://finance.yahoo.com/news/buy-advanced-micro-devices-amd-123612437.html
AMD - There is decent call buying all the way up to the May18 14 strike which are going for a nickel. Can you say lottery ticket? Or could just buy the stock, but don't bother with a stop until after the open following earnings which is on 4/25 after market close. If AMD gaps down 15% on the open and you sell it on the open you probably sold on the low of the day. That said holding AMD over earnings is a pure gamble so a call lottery ticket might just be the best way to play.
Spreads getting blown out everywhere. Market makers are going to demand a pretty price for pretty much everything today after Fed head Powell decided to crash the market.
https://www.reuters.com/article/us-usa-stocks/wall-street-falls-2-percent-following-remarks-by-feds-powell-idUSKCN1HD1JV?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
NXPI - Wide spreads. Option volume is thin at most strikes. Open interest is all over the place. Some strikes have decent OI and others none. Not ideal for options.
April20 115 Calls have decent volume and OI. Spread is too wide going for 2.45 x 3.30. Now there are some things that you want nice and wide, spreads aren't one of them.
If you go way out and buy the Jan 2018 leap 120 call there is decent OI and the spreads are surprisingly tight compared to anything else I have seen. The spread is 7.80 x 8.50. Still wide. Volume is 50 and OI is 11,219. There is also decent OI at the 115 strike but with a wide spread of 10.20 x 12.40. Volume is 12.
Those wide spreads are tough to overcome. Especially for short duration trades.
What a face ripping rally. It's amazing what a little gubermint interference can do. First Bullard comes out and says no more rate hikes are needed. Market yawned. Then Kudlow comes out and says what trade war? Market explodes in furious short covering. FOMO buying is following on. SPX could close over 2650. What an absolutely huge day filled with tears for shorts and those stopped out on the opening crash.
Monster engulfing candle needs to follow through tomorrow. One tweet could ruin it.