Marvell Technology Inc (MRVL)

[SyndicateTwo]

I don't understand. C was clearly breaking out of a major downtrend. Then I said jump on board because of just that. Then as I was watching Fast Money, Karen explained the reasons behind why it specifically was running and once you understand that, you have to realize the run was fake. Not because people were piling into it for it's sake. They were running to it because of an arb trade to make money off the spread.

Therefore, the trade was clearly negated by the fact that it was a fraudulent breakout.

Did you buy my TZA calls I posted at $14 Friday? Today they closed at $17.50. What about my BRCM short at $23?

If you follow what we've been talking about though on the SPX board, you know the bigger picture here ---

This is a year that if things play out as it looks they are, you could turn little amounts of money via call options into well north of $50k to $100k. We've been calling the market turns almost perfectly.

This latest one is for the SPX to fall to between the 50 day (791) and the 50% to 61.8% retracement (772-747) and then bounce hard up to 950 to 1000. If I'm right, then this is an ABC with the A wave having now been confirmed complete with today's close. We are now in a "b" wave pullback which sets up an AWE run which matches the run of the A wave. That is 200 points from this pullback's low. 950 is clearly the neckline of a large inverse head and shoulders. 950 - 200 points = 750, so the B wave now could pullback to that fibo range.

That could be a monster buy op in just call options on the TNA with the TNA target to start buying being between $15 and $18. If we get there, I'll be buying the TNA June or July $20 calls. At $16 let's say, that would put those calls hopefully under $2. If so, and the TNA follows the SPX up to 950, the TNA could run to $30, more than quadrupling those $20 calls.


That's the plan at least.


Then the trade will be in reverse in a 5th wave run lower to either the shoulder level of 750 or a new projection low under 666. TZA calls to be used for that trade.


Then the real monther of all trades will be for an Oct 20th to 28th target low.

This is one of those times you get to really make some money.