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What Happened? A Recap of Stock Market Watchlist for 16 Nov 2018 

 November 18, 2018

By  spectre_trades

Hello everyone. Here is the recap.

General market thoughts

We may see more downside today.  Things are looking weak and a number of earnings reports looked bad.

RECAP:  Well was wrong about the downside.  fast little dip and then nice rally.  That’s the problem/oppty with gap down.  Overall seems like a consolidation day.

NVDA

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Pre-market Notes

Disaster. Ideally get a rip into 172 (23% retrace) or 178 (38% retrace) to get short but so far it found sellers in 170 and some support on 165 in pre-market. if 165 breaks, Im thinking we could see a flush into 158-160 and then some short covering and possible grind up. Bigger picture I think all big pops will be used to exit.

Recap

Nice rally off off intitial dump and and it push into the 170 right where premarket sellers were and faded most of the day. broke 165 and made it to 163 before a bounce. Will watch Monday for more possible down side using 170 and 163 and key levels for trend. [/vc_column_text][/vc_column][/vc_row]

AMAT

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Pre-market Notes

Looking for more downside. Hopefully get a pop to sell.

Recap

this one I got stubborn on and it took my money. As soon as it broke hod, it kept going with no relief/vwap test. Very surprised by the strength it found [/vc_column_text][/vc_column][/vc_row]

PCG

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Pre-market Notes

Monster short squeeze ah. everyone short yesterday is underwater. 80% prob this see 30 today. I like dips toward 22-23 to get long. There will likely be a lot of range on this both up and down today.

Recap

Another one I was semi-wrong on. Everything setup right for a move, got a dip into 23s, but it just couldn't get over 25 to get the next leg up. [/vc_column_text][/vc_column][/vc_row]

WSM

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Pre-market Notes

Any pop on 54.50-55.50, I'd like to get short.

Recap

tight range, no trade [/vc_column_text][/vc_column][/vc_row]

JWN

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Pre-market Notes

Looking for trend after first hour. Ideally gets a pop to join short.

Recap

Nice dump on open, then pop and fade, similart to NVDA [/vc_column_text][/vc_column][/vc_row]

SONO

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Pre-market Notes

Incredible earnings. Personally I had counted SONO out and was thinking we see sub 10 but after this e/r maybe not. I like dips on 15.50-16 for a long for 18-20. This may just pop and go out of the gate if a short squeeze sets in.

Recap

Alerted in chat room I was worried the volume was there and didn't like until lower. Hopefully that kept people out of trouble. 15.50 level will be key support on Monday for upside. [/vc_column_text][/vc_column][/vc_row]

AMRN

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Pre-market Notes

Damn. I think shorts are trapped especially with ceo news yesterday of him selling shares. If it dips and holds, probably worth a long for a shove into 20 and then go short.

Recap

Another low volume gap up. Check volume leading into open to help decide what may happen. since it was low, it got a pop and then sold off in17s and then rallied back to 18. Feels like we are mid range now, and while I want to short for lower, the dips in had already may have resolved the weak hands. no bias now. [/vc_column_text][/vc_column][/vc_row]

China names

RECAP: china trade challenges still out there and caused some profit taking in BABA. stil more or less in wait and see mode.

BABA

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Pre-market Notes

Recap

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JD

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Pre-market Notes

Recap

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PDD

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Pre-market Notes

Recap

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Pot names

RECAP: overall the price action was consolidation

TLRY

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Pre-market Notes

Holding really well. if 100 continues to hold it probably sets up for a 120 break higher. I love the comment that TLRY is trading like TSLA.

Recap

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CGC

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Pre-market Notes

Wouldn' be surprised to see 28 if 32 breaks. potential support here on 34.

Recap

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CRON

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Pre-market Notes

Recap

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** Watch for comments in the black box discord chatroom.  Good luck, Trade Safe. Trade Green. 

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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