09Dec11:22 amEST

Give Me Back My Precious!

the-silence-of-the-lambs-buffalo-bill This morning's action in the market, in terms of equities as a whole heading south while precious metals and miners rally, has been a thesis I have been selectively playing for a while now, albeit with an in-and-out modus operandi. The goal has been to remain opportunistic and nimble, in lieu of being dogmatic, when trading tickers such as NUGT and then some of the inverse, bearish ETFs for equities. Nonetheless, the more types of days we see like today after an extended bull run in equities, with damaged leaders to boot, the more inclined I am to develop conviction in the thesis for more than quick trades here and there. Across the board, names like AMZN GOOG GPRO NFLX PCLN TSLA YELP are getting hit, while gold, silver, and other miners are higher. Energy stock are trying to bounce, but it is way too early for me to look for real bottoms in them. On my radar at the moment: Potential shorts in the IBB SMH XLF, and potential longs in UGAZ UWTI (natural gas and crude levered long ETFs, respectively). UVXY on the long side is also on my radar for a potential secondary pop in volatility. I am also happy to hear from those of you on Twitter and Stocktwits who took the BLUE long idea I have been discussing in recent weeks.

Late Night Strategy for Tues... Tipping Over Versus Ready to...

 
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