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What Happened? A Recap of Stock Trading Watchlist for 09 Nov 2018 

 November 11, 2018

By  spectre_trades

RECAP: Overall I think the reads were decent.  We made the “needed” pop not if we can’t reclaim over the recent retest levels, I’m thinking we may see another leg down before we get a big rally.  Overall, I think a trade deal is needed to reinvigorate the markets.

General market thoughts

So far we are seeing some weakness.  I had some 280 puts that I bought at 280.75 that I covered just under 280. Don’t you hate when you think you should swing a position, but habit doesn’t let you overnight.  Should have let 10-20% of the position ride since I had 1pt risk.  Overall I’m leaning toward shorts for first hour and then see if we reverse.

RECAP:  pretty solid selling most of the day with a push into the end.

GE

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Pre-market Notes

Downgrade by JPM with $6 pt. Any pops toward 8.90 I like for a short with target 8.30-8.60 today and 7 within a month. There is a risk of a flush and bounce today given the gap down so honor stops.

Recap

I seriously minimized on this position. I had puts expiring Friday from that I opened in 11.30s. I took a new position at 9p at 8c. Those puts hit a peak of about 75-80c. So we may finally have exhausted selling and get some short covering up. That said, I don't see any good reason to be in GE long term. I think the easy money is done and time to move on. [/vc_column_text][/vc_column][/vc_row]

YELP

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Pre-market Notes

fair amount of support in 29s this morning. Ideally we get a pop into 31-32s and weakness/ 29.50 break for a dump into 25-27 by end of day. Over 32 and I think 34-35 is doable and a gift price to get short. 34.85 is pre-market Fib retracement using 29.50 as the low.

Recap

This dipped onto low 29s on the open and then a steady grind into 33. Interesting that it couldn't get the spike over in 34. Makes me think there is stil heavy selling. I opened 31p when ticker was around 33. I still think 25-27 is doable into the end of the week as long as we don't break 34. [/vc_column_text][/vc_column][/vc_row]

ATVI

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Pre-market Notes

lots of room to downside. Ideally a pop into 56-57 for a short. watch price action on open. and then trend after first hour

Recap

We didn't get the opening pop to get short so it was early drop into 53s and then a mid day push into the 56-57 area for the short. Closed nicely into 54s. Given TTWO, EA, I'm wondering if we could see some big money still exit gaming for a quarter or two. [/vc_column_text][/vc_column][/vc_row]

ACAD

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Pre-market Notes

think sub 19 is doable

Recap

Good read. dump on the open and eventually got to 18.20s. Take a look at the 2nd push into 23s. and then the lower high into 21. Those were exhaustion signals in my mind. They have news over the weekend. [/vc_column_text][/vc_column][/vc_row]

TWLO

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Pre-market Notes

I think we could see 88-90 today. so would like a short over 92-94 for that. if we gap down into 88-89 on open will get long for a scalp. This is def on watch for a swing long over next 2 or 3 days.

Recap

Impressive range. early tank into 90 so didn't get the pop for the short and then a nice rally unto 95-96 area where I alerted to got short in the chatroom. NIce dump from there. Overall we may have made a double bottom on 90 and I would like to pick up some 95 or 100 calls that expire in January for a swing toward 110 [/vc_column_text][/vc_column][/vc_row]

DIS

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Pre-market Notes

Dips on 117 that holds even if market is red I like this for a long for 120+ by December. If 117 breaks probably see a return to 115

Recap

Impressive action at the open. basically buy 117s and it launched right into 120. Nice score folks all in 60min. [/vc_column_text][/vc_column][/vc_row]

China names

Looks like these are being hit by NSA on indication that china is violating 2018 cybersecurity agreement and this could lead to more US sanctions

BABA

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Pre-market Notes

any pop on 147-148 I want 145 puts.

Recap

No pop no trade. We got a monster Singles Day event so no position over the weekend. There should def be a play here on Monday -- either sell the news, or who cares about the trade issues, BABA is killing it. [/vc_column_text][/vc_column][/vc_row]

JD

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Pre-market Notes

Recap

Really had to see this under 22. Will probably start considering some long dated calls. [/vc_column_text][/vc_column][/vc_row]

PDD

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Pre-market Notes

Recap

Amazing how wrecked this name is. I'm going to start researching 6mo or 1year out calls. Rumorville says this stock should be worth at least 40-60/share. [/vc_column_text][/vc_column][/vc_row]

Pot names

Overall I’m thinking we will see more selling in Pot names with random pops over the next few weeks until we have a major news event.  It’s probably going to be choppy ride with all the emotion involved.

COMMENT: These names are playing out as expected.  pops are being sold. There will be basing here and there with sudden pops, but overall I think we see more downside than upside near term.  Be patient.  And look for long term consolidation on support to start building a position long term

TLRY

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Pre-market Notes

Recap

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CGC

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Pre-market Notes

Recap

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CRON

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Pre-market Notes

Recap

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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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