Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
Overall looks like thing during the played out more or less as expected for the day. And Trump did his whammy at market close.
Good morning all. In case you missed it, big picture thoughts on market are in Bulls Feel The Chill: Where does the market go from here?
General market thoughts
Looks like things are gapping premarket. Expecting some gap fill and pop and then we see. General thoughts are traders went short or exited positions ahead of thanksgiving week and will be reaping rewards this morning — shorts locking in gains on last week’s sell off, and dip buyers taking advantage of the large drops in some names.
AMZN
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Nice gap up on in premarket. We need to clear 1550 for a shot at 1600 otherwise a pop and fail on 1550 might be a decent risk reward for a short.Recap
Nice dip and push over 1550. Also got a lunch time dip under vwap and reclaim higher for continuation. Was looking nice for a 1600 test this week. Still does, but it the Trump tweet put a damper on things. [/vc_column_text][/vc_column][/vc_row]PCG
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Still right range consolidation. Eyeing this week for a move.Recap
Well PCG decided to make a move today. Hearing a bill for fire relief is going to be introduced in December. [/vc_column_text][/vc_column][/vc_row]PLT
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No Deal. Logitech says not acquiring PLT. Missed the short with commons in premarket. Will be eyeing for a pop int 49-50 area and if that push fails to get short. watch for 46.50 level to break, if it does we may get a panic sell from the deal longs in which case my target would be 43-44.Recap
Kind of choppy and didn't get the push into 49 where I had my alarm set. bummer because it did get to 48.70. So no trades. [/vc_column_text][/vc_column][/vc_row]ADSK
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held pretty well last week but with ugly wicks on daily. Want to watch for a trend and volume today.Recap
Slow choppy grinder higher. Missed entry on open and decided I didn't want to chase this [/vc_column_text][/vc_column][/vc_row]NVDA
[vc_row][vc_column width="1/2"][vc_column_text] [/vc_column_text][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][vc_column_text][/vc_column_text][/vc_column][vc_column width="1/2"] [vc_column_text]Pre-market Notes
Credit Suisse out with worst is over. Eyeing for dips and trend. think 146/145 area dip and risk to 144.50 for a push back over 150 toward 155.Recap
NVDA almost perfect read. Missed the dip target by 1 pt but it did dip into 146s. the 148c paid nicely and hearing a member in the chatroom took the idea and got 120% by going with 147.50 calls -- Nice work Tyler. [/vc_column_text][/vc_column][/vc_row]TSLA
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Not sure how responsible it was for Elon to say company was within weeks of collapse over the weekend. Looking for any panic sells and higher lows to get long.Recap
We didn't get any panic sells, but steady higher lows for nice run back into 340s. Very nice grinder this morning. [/vc_column_text][/vc_column][/vc_row]OSTK
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Looking for a dump into 20s to buy 21 calls if I can get it on the cheap for a squeeze into 22+. I don't think this will hold its gains. Its up over 20% on deal news so will also be eyeing for a short later in the week.Recap
Well they screwed up squeezing shorts on this on the open. Was looking for this dump to happen AFTER a 22 squeeze. That would have been epic. But we don't always get what we want. No trade on this unfortunately. [/vc_column_text][/vc_column][/vc_row]XRT
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May eye retail for a swing long off dips into december for the holiday run upRecap
Not enough range to care to participate. so no trades. [/vc_column_text][/vc_column][/vc_row]China names
Haven’t had a chance to do some planning here but will be doing some charting later in the day.
BABA
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Recap
Nice gap up and push. If China does well again overnight, this may get another leg up. Will need to watch what stance Trump takes going into G-20 [/vc_column_text][/vc_column][/vc_row]JD
[vc_row][vc_column width="1/2"][vc_column_text] [/vc_column_text][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][vc_column_text][/vc_column_text][/vc_column][vc_column width="1/2"] [vc_column_text]Pre-market Notes
Eyeing for a fader setup on any push. If China gets strong and it starts trending higher, I might have to join a trend long but for now short bias.Recap
Tried to get short going but got stopped for -10c. Took all day but finally got a 40-50c drop. Will be eyeing tomorrow for failed pushes to get a dump back under 20. [/vc_column_text][/vc_column][/vc_row]PDD
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Recap
On watch for a pull back under 20 and pop back over to get long for a push back to 24. Hide earnings last week and a nice pop so looking to see if this now gets continuation. [/vc_column_text][/vc_column][/vc_row]Crypto corner
Adding crypto to the conversation. What happened here… some are wondering. Basically we had btc run from under 1k to 20k in a year. Then in based on 6000 for a few months and support broke. So its hunting for new support and buyers. I don’t know where that will be, but 1800-2000 (90% discount from highs) or 3000 a 50% discount from recent support can bring buyers. I might start dipping sub 10% position in soon. Would love to get thoughts from @JenLovesCrypto.
Good luck, Trade Safe. Trade Green.
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