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

No comments:

July 21 - Still massively long banks, took short term longs in NVDA, BABA, HAL, OAS

Probably 2/3 of the options account is in banks.  Maybe 1/2 regionals and 1/2 XLF, C, BAC.  Expecting another run up in equities into Augus...