Wednesday, September 7, 2016

Sept 7 - Closed TWLO long, added LN stock + calls, TLT calls

Still like TWLO intermediate term but had to pull my positions as we are getting a reaction near resistance.  I had today pegged as a breakout day but it isn't happening.  2-3 days of mild pullback/ consolidation and I'll be back in looking for the 70's.

Added LN (stock + sept  40 calls) + TLT (Oct 135 calls).  I am very bullish on TLT.

I was thinking we had a breakout coming but now thinking pullback is ahead ala the orange box.  Will want to wait til EOD tomorrow to re-enter unless today is clearly a one day event and we see a massive move tomorrow up on big volume which I would chase.  But I think that's unlikely.

Would like to see a repeat of the previous down cycles before going long.  3-4 down days on weaker volume.  If selling flares up and range expands to the downside this becomes a much more risky long

 LN looking very interesting here
 Great setup.  Think 145 is a very achieveable target

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Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here