As El said, thanks, as always, for your update. WRT the oil chart, what strikes me about it are the long wicks. Looks more like a reversal than a collapse..
You asked what might be left out of your daily reports. The one thing I virtually never look at is the image with "Unusual Activity and What stood out." Far too much information for me to spend much time on it.
also those trades can only be scanned for via a bloomberg terminal which is a $20,000/yr+ terminal that all finance professionals use. Without one, you can't really scan for that sort of data, so thats why I made this substack as a way to bring that data to more people for a reasonable cost.
To be honest, I think that's the most important thing in my daily report because those are the biggest unusual trades that I scan for. IF you're a believer like me in the flow of money, you want to know the oddest trades being placed. These are insitutional dollars being placed in various directions. I try to make it easy by saying what was bullish and bearish and then I highlight a few that stood out most that day. To me that is the days recap.
The oil chart, the big wicks came because yesterday we had a rumor Biden was giving immunity to Saudi prince in return for more output, that wasn't true today and we reversed hard. We have a structural oil shortage, but we also have politicians globally who have to game oil for their benefit so it will be a tug of war. Short term, chart is broken.
I'm sure this sounds extraordinarily lazy, but I assume you consider the unusual options trades when you make your own trades. I just rely on your judgment.
ha! I do. My discovery process is multipronged but I take all the unusual options flow and overlay it with charts. The issue is many times you will see a huge bullish trade like say someone bought 10,000 calls on a name but the chart is bad, it could very well be a hedge vs a short position. So not all options flow is equal. I try to just point it all out in that table and then from there I try to make my own trades based on the names that have a combination of nice chart + bullish flow.
Thanks as always for your post! :) I’ve a question: if you ever intend on selling puts against Amazon, what would be a good strike price in terms of fib or moving average supports? I plan on selling either $90/95 puts for Dec 30 expiration on the basis that $85/90 is a strong support level.
Thanks for the kind words. Amazon is so broken it’s just gonna be a while for it to settle down. I would say as long as it doesn’t break recent lows 85.xx that level should hold but what a disgusting stock it lags every day. I hope it gets better early next year when tax loss selling ends
You’re welcome and yeah agree with Amazon lagging everyday lol. Even Google miraculously gained after dropping to recent lows of 83.xx especially after the TCI activist report.
As El said, thanks, as always, for your update. WRT the oil chart, what strikes me about it are the long wicks. Looks more like a reversal than a collapse..
You asked what might be left out of your daily reports. The one thing I virtually never look at is the image with "Unusual Activity and What stood out." Far too much information for me to spend much time on it.
Happy Thanksgiving to you and your family.
also those trades can only be scanned for via a bloomberg terminal which is a $20,000/yr+ terminal that all finance professionals use. Without one, you can't really scan for that sort of data, so thats why I made this substack as a way to bring that data to more people for a reasonable cost.
Hey Russ, hope you all have a great thanksgiving!
To be honest, I think that's the most important thing in my daily report because those are the biggest unusual trades that I scan for. IF you're a believer like me in the flow of money, you want to know the oddest trades being placed. These are insitutional dollars being placed in various directions. I try to make it easy by saying what was bullish and bearish and then I highlight a few that stood out most that day. To me that is the days recap.
The oil chart, the big wicks came because yesterday we had a rumor Biden was giving immunity to Saudi prince in return for more output, that wasn't true today and we reversed hard. We have a structural oil shortage, but we also have politicians globally who have to game oil for their benefit so it will be a tug of war. Short term, chart is broken.
Enjoy thanksgiving!
I'm sure this sounds extraordinarily lazy, but I assume you consider the unusual options trades when you make your own trades. I just rely on your judgment.
ha! I do. My discovery process is multipronged but I take all the unusual options flow and overlay it with charts. The issue is many times you will see a huge bullish trade like say someone bought 10,000 calls on a name but the chart is bad, it could very well be a hedge vs a short position. So not all options flow is equal. I try to just point it all out in that table and then from there I try to make my own trades based on the names that have a combination of nice chart + bullish flow.
Thanks as always for your post! :) I’ve a question: if you ever intend on selling puts against Amazon, what would be a good strike price in terms of fib or moving average supports? I plan on selling either $90/95 puts for Dec 30 expiration on the basis that $85/90 is a strong support level.
Thanks for the kind words. Amazon is so broken it’s just gonna be a while for it to settle down. I would say as long as it doesn’t break recent lows 85.xx that level should hold but what a disgusting stock it lags every day. I hope it gets better early next year when tax loss selling ends
You’re welcome and yeah agree with Amazon lagging everyday lol. Even Google miraculously gained after dropping to recent lows of 83.xx especially after the TCI activist report.