RECAP: Good evening all. Here is the recap. Had some great plans/reads today. After hours had some nice action in CSCO and ORCL.
General market thoughts
We’re in for chop city. Initially we looking up in ah yesterday, then big gap down on premarket open, and now we are up again. No strong bias but I do think overall trend is down and I’d like to get some short any big moves up that stall and fail.
GOOS
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E/R beat but I think the vol seems light so and pop/push into 70s on open I want some short for profit taking and then once a base is found flip to get long IF we don't turned into an all day slow grind sell day. I like dips on 64-66 area for the long.Recap
Perfect read. pushed into 70s and then more or less sold the rest of the day. Alerted mid-day in the 66-67 area that if we don't reclaim 68, we were headed for 62-64. GOOS dropped right into 62 where I alerted I was going long and exiting around 65. [/vc_column_text][/vc_column][/vc_row]PCG
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Hearing damages of 16B from CA fires may be in store for PCG. Their marketcap at $26 is roughly 14B. This could get very ugly. Expect wide ranges and trade small and with over $2-3 pts of wiggle room if one is planning to trade it.Recap
This did get very ugly. Once we broke support this dumped fast and hard into lows 20s. [/vc_column_text][/vc_column][/vc_row]GE
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Something smells fishy to me. Nice push into 9 yesterday. The Baker Hughes sale was accelerated by a day and done for less than the $24/sh was expecting. It makes me wonder if there is a major cash crunch coming into play.Recap
Initially go long for a repush on 9 but after double top and drop onto vwap, I cut it. Once it broke back below vwap there just wasn't hope for it. If you haven't incorporated VWAP into your trading I encourage you to learn to use it. [/vc_column_text][/vc_column][/vc_row]YELP
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Sill on Radar. I want to see the volume faily day soon and participate in the slashing sub 30. No position at the moment.Recap
No trade [/vc_column_text][/vc_column][/vc_row]AAPL
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We tagged 191s in premarket. Any pop on 195-197 that peaks and creates a lower high, I like for a short. If we dip on 192 and hold then may consider some long for a 2pt scalp up.Recap
Absolute monster!!! Alerted short early and once we almost got the 185 target I've been talking about since earnings. The 190 options I bounce for $1-1.20 hit $4.00 late in the day. Anyone who followed the idea should have got 100-300% and stubborn folks 400%. [/vc_column_text][/vc_column][/vc_row]AMRN
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Damn. This was setting up so nicely for gap down to low 14s. Then Citi had to go and do an upgrade. Key Level to watch now is 15.50 and vwap. There was serious concern for an offering that did not happen so this could rip on short covering.Recap
Missed out on the follow on action on this today so no trades. [/vc_column_text][/vc_column][/vc_row]
China names
Waiting for trade related news.
BABA
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Looked crazy weak in pre and now ripping to 149.Recap
Holding well with some 160 December bullish call flow. I joined this for a swing [/vc_column_text][/vc_column][/vc_row]HUYA
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earnings winner. looking for basing over 19 to get long. May take some Dec calls if the price is rightRecap
[/vc_column_text][/vc_column][/vc_row]JD
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Recap
[/vc_column_text][/vc_column][/vc_row]IQ
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Recap
Given the weakness in NFLX. I'm thinking until NFLX gets traction and China names start coming back into favor, I'm taking this one off my buy china list for now. [/vc_column_text][/vc_column][/vc_row]Pot names
RECAP:
TLRY
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Wasn't in love con call yesterday. Expecting some early selling and then a short squeeze.Recap
got short on 103 and stopped midday for a 1pt loss. Bad entry because it proceeded to dump into 100 after that. Overall TLRY maybe trapping shorts. I think it should be under 100, but so does everyone else, and it can't seem to hold under. We may get a squeeze in coming days if 100 doesn't turn into a top/resistance [/vc_column_text][/vc_column][/vc_row]CGC
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Big gap down. Looking for short covering pop and then a potential faderRecap
Pure carnage. I missed the short on this onfortunately. It dumped into the 32 area where I thought there might be a bounce. Stayed heavy all day and is still under vwap. We may get a flush into 25-28 before a bounce. [/vc_column_text][/vc_column][/vc_row]CRON
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Recap
[/vc_column_text][/vc_column][/vc_row]** Watch for comments in the black box dicord chatroom. Good luck, Trade Safe. Trade Green.
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