Short and Sweet

Almost a full four months into 2015 and the S&P 500 has yet to make a meaningful move to the upside.  We currently reside at similar levels from the end of 2014.  Imagine that.  Four months of consolidation.

Prices have started to narrow and I think a big break higher is becoming more likely with each passing day.

One thing is for certain... the Dip Buyers remain on the ready to gobble up any dip this market gives.  Today was no different.

Todays Market and Option Scans:

Unusual Option Action

Bull Bear Stock Scans

On the days stocks do fall, just remember that in a world of zero and negative interest rates the Dow Jones Industrial Average is handing out 1, 2, 3, 4% dividends, on top of 5-10-15% gains on equity.

Close your eyes and repeat after me:

There's no place like stocks, There's no place like stocks.  Ok.  Now on to the rest of the recap.

$GOOGL - did the stock finally give us out answer?  I've been covering this $550 level for a while.  Today was the first big break.   I am becoming more comfortable with the notion of going short via puts.  Heading into earnings I am looking both far OTM puts and calls.

How about $Z.  I was saying in the chat room this morning, aside from its strength and possibility of going green today (which it didnt) is that the stock may have seen a bottom.  After the bell $GS thought so and moved their price target higher.  I think $Z could break $100 before weeks end.  A nice Hammer.

$AXP earnings are coming this week.  I am looking to trade it heading into the report.  

$NFLX reports tomorrow after the bell.  The stock is setting up, but first must break resistance.

$WUBA handed out some 17,000% gain today on the calls.  Gotta love the option market.  Last week $CMG pulled a similar move, posting an over 43,000% gain on some of its calls.

I think today's rally in $CAT will be short lived.

I also think $GDX is ripe for a move under $19

How bout them bonds.  $TLT gapped and ripped higher only to fade as the session wore on.  Let's look for some confirmation of today's break higher.

US Dollar remains well bid and forming a pennant before breaking to new 12+ year highs.


The story remains the same, and the ending hasn't changed.  Record high stock prices.  This 6 year bull market hasn't met a headwind it couldn't rally past.  Perhaps that is what this market needs to vault it to fresh highs.  Another government shutdown?  A debt limit battle?  A Greece Default?

For now as this market grinds its way higher, individual names are working, $NFLX, $AMZN, $GPRO, $DDD, $SSYS, $PCLN, and should remain to work in a choppy market.

I think this earnings season is going to be a memorable one.  See you in the chat room.

Amazing how it works.  This was, as the title suggests, supposed to be a "Short and Sweet"  Recap.  That's what happens when you love what you are doing.  Good night.


My chart from last week is still what I see coming in the weeks ahead.

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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