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Stock Trading Recap for 08 Nov 2018 

 November 8, 2018

By  spectre_trades

General market thoughts

Here is the stock trading recap for today.

What a run yesterday! So far seeing a bit of weakness… So will watch for weak open red to green move for a secondary push.  If that fails will look for potential profit taking/selling for a retrace.

COMMENT: So today more or less turned into a consolidation day.

SQ

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Pre-market Notes

So far weak in pre-market and had some down grades. if 75 breaks lots of room to downside. So far selling found in 80-81 area and support in 77s

Recap

Nice pop into 80 to get short and once 77 broke we got the flush into 73-75 area. Easy 3-5 pts for anyone who got short into 80 per plan. [/vc_column_text][/vc_column][/vc_row]

AMZN

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Pre-market Notes

looking for a push on 1760 and if that fails will consider a short. Should find some support around 1720s

Recap

What a beauty almost to the numbers. Pushed on 1760 then sold off into 1730 and then bounced back up to 1780. Good consolidation behavior and great range. [/vc_column_text][/vc_column][/vc_row]

WYNN

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Pre-market Notes

beat down on earnings. Was hoping for more of a pop. Hard for me to get short here in 97s. Ideally get some pop toward 105. This might be a buy on any initial panic sell for fast 2-3 pts pop and leave it alone.

Recap

Dipped on 97 and couldn't drop any further and then ripped over 100 with a secondary/shot exhaustion push int 102s. Then it more or less faded to 99. Left it alone after morning action. [/vc_column_text][/vc_column][/vc_row]

ALRM

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Pre-market Notes

beat and raise. If pulls back to 52-53 area and support is found I like for a long. So far double top in 57s. If we get a fast pop over 60 on open I probably will short it for a fade on weakness

Recap

Unfortunately we didn't get the pop into 60 for the short. My bad for not starting short on that double top. fast dump into 52-53, then that lost support and dropped another 3 pts. It's important to watch these support levels because if you miss the initial play, you still can get in on the slower fade later. [/vc_column_text][/vc_column][/vc_row]

TWLO

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Pre-market Notes

94 was major support on this yesterday. if that breaks I like it for a short otherwise looking for a dip to 94 and break of 96s for a day 2 rally into 100

Recap

This gave us an initial dip then a rip into 98 and fade back to 92 by end of day. Look for this to consolidation and base over next 2 or 3 days and we should get a setup to get the 100-110 move into December. [/vc_column_text][/vc_column][/vc_row]

TTWO

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Pre-market Notes

rangy between 129-132. I've got mixed thoughts on this one and don't trust the push just yet.

Recap

I was right not to trust the upside on this. It dumped hard and had crazy range. Very said, but I didn't have the mental bandwidth to take a trade on this. Overall I'm not sure what to make of the action today. The range and behavior on this seems strange. If anyone has a strong read on this, I'd love to hear your thought. [/vc_column_text][/vc_column][/vc_row]

ROKU

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Pre-market Notes

so far weak on profit concerns. Watch for 49 break if it comes which may invite some selling.

Recap

Talk about wrecked. As soon as 49 broke it was cooked. At this point a 42-43 wash is probably coming and then we can start considering building a swing long. [/vc_column_text][/vc_column][/vc_row]

Pot names

Amazing how Jeff Sessions resignation added fuel to the fire and we saw a monster rally.  Ideally we get a nice secondary push/move at the open to get short on.  So far weakness in pre-market so will have to wait for volume.

COMMENT: Well volume came and it was all sell side.  I put together a post that answers why it sold off imho. Check out Jeff Sessions resigned so why are Pot Stocks dropping?

TLRY

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Pre-market Notes

Looking for 140-170 area depending on how it decides to move

Recap

Well we got the 140 yesterday and no follow through and then sell side all day [/vc_column_text][/vc_column][/vc_row]

CGC

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Pre-market Notes

Looking for 48 area to get short

Recap

Again a bummer on not getting the push but steady selling all day [/vc_column_text][/vc_column][/vc_row]

CRON

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Pre-market Notes

wathing if we get 10.50 or not. like shorting any push toward 10-10.20

Recap

same as the others [/vc_column_text][/vc_column][/vc_row]

STZ

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Pre-market Notes

nice upgrades and we didn't get a strong pop so if pot names rally I think this can get a boost

Recap

I sold the STZ calls from the black box call flow into the push for a 20% gain. I exited because of the lack of follow through to the upside in pot names. [/vc_column_text][/vc_column][/vc_row]

** I hope these recaps are helpful.  Please feel free to share and let me know what I can do to make them better and more useful to you.

THIS POST AND ALL CONTENT ON THIS SITE REPRESENTS OPINIONS ONLY AND PROVIDED FOR EDUCATIONAL PURPOSES ONLY. CONTENT SHOULD NOT BE CONSIDERED ADVICE OR A RECOMMENDATION TO BUY OR SELL A SECURITY. PLEASE SEEK ADVICE FROM AN INVESTMENT PROFESSIONAL.

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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