August 14th, 2014 Watchlist

Yesterdays rally created some impressive gains for calls buyers.

JB bought Yelp calls at $.40 that went to $2.40, on the mornings watchlist GOOGL $585 calls surged 500%, $AAPL calls over 100% and JPM calls 50%.

$SHLD was sent out via text the $36 calls at $.45 those hit over $.80 intra-day.  The stock looks poised for continued reversal.

My $NDLS calls will end up being another donation to fund some rich guys son's Cricket research project.  My $FUEL calls are also not working out as planned.  However there are two trading days left in the week and anything is possible.  As Lloyd Christmas says in Dumb and Dumber when confronted with tremendously impossible odds... "So you're saying I have a chance!"

This morning stock futures are higher again.  I expect them to melt lower until the open, as has been the trend lately and then vault higher.  We've lost that selling feeling, oh that selling feeling.   We've lost that selling feeling and its gone, oh gone.  whoa!

$VXX went under $30 yesterday as I stated it would in the watchlist yesterday.  Some 5%+ to the downside.

$VXX looks set to bust back below the $30 level today as volatility starts to settle down.  I must admit, I like the movements we’ve seen in the market.  I also like the fact we’ve pulled back from record stock prices.  There is nothing wrong with some selling to keep the bulls honest.

I think the recent pull back has kept the bulls honest.  I enjoy looking at the stocktwits sentiment for $SPY which sits at 40% bull 60% bear.  These are similar levels to last August when the $SPY was at $164.  My point being,  as much as everyone likes to think there is a horde of bulls out there, its the exact opposite.  Not many have believed in this rally, not many believe in this rally, and not many believe this rally will last, which is why we head higher.

News, Remarks, Analyst Opinion, and Trades I'm Looking At Below:

Tesla initiated with an Outperform at Credit Suisse
Target $325


Cisco shares have little downside risk, says Piper Jaffray
Piper Jaffray believes Cisco is making "good strides" with cost controls and capital allocation following the company's Q4 results. The firm finds shares inexpensive and sees little downside risk given the dividend yield and share buyback. Piper reiterates an Overweight rating on Cisco with a $26 price target


LinkedIn Sales Navigator could be $4.3B opportunity, says Piper Jaffray
Piper Jaffray estimates Sales Navigator is a $4.3B opportunity for LinkedIn, and it expects the service to be a "meaningful and growing catalyst" heading into 2015. Piper thinks Sales Navigator is unlikely to have a significant impact in the second half of 2014, but believes it could add $60M-$90M in 2015 revenue to its current estimates. The firm maintains an Overweight rating on LinkedIn with a $282 price targe
NetApp price target raised to $46 from $42 at Piper Jaffray
Piper Jaffray raised its price target for NetApp to $46 citing the company's "solid" Q1 results and increasing backlog. Piper says it is incrementally more positive on shares and believes management's guidance is likely conservative. It reiterates an Overweight rating on the stoc


Molson Coors initiated with an Outperform at Credit Suisse
Target $84


Trades I am Looking To Enter:

$AMZN $330 wc $1.03

$WYNN $202.50 wc $1.20

$SNDK $94 wc $.23

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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