Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
I hope everyone stayed safe today. If you are having trouble shorting or buying puts, reach out and ask for help. Send me a msg in discord.
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
So far expected action of grind higher this week after Thanksgiving is playing out. CRM beat and raise seems to have helped things, but overall I think sellers are exhausted.
AMZN
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ideally weak open dip and test 1550 and then push over 1580 into 1600s. If market decides to drop then will be watching pops and join trend. I don't see any catalysts so far to drive big moves down at the moment.Recap
Didn't get enough dip to get long but lots of range today and choppy move toward 1600 [/vc_column_text][/vc_column][/vc_row]PCG
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Well that popped earlier than expected. Ideally gets some selling under 25 to scoop for a push into 28-29. if we get a fast pop on 29, might take some puts for a scalp.Recap
Perfect. nice early dip into 25 and then stead grind higher. we also got the mid day dip under vwap for a reload long. [/vc_column_text][/vc_column][/vc_row]AMRN
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Presenting at a conference today and did a 200m offering. Nice gap down. Will need to see if volume picks up after the conference up or down. I'm surprised at the offering size being so small so the normal dilution effect may be minimized and there is a chance of a short squeeze. Will watch for a trend. so far thinking 18.50-18.80 as a decent short area and risk 50c.Recap
Total disaster. Got the 18.50 pop in premarket and then pure selling once it got under 17.80. [/vc_column_text][/vc_column][/vc_row]NVDA
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like dips on 150-151 for push over 155Recap
Another prefect plan / support area read and move. dipped 150s and then ripped into 157. Should see 160 this week. [/vc_column_text][/vc_column][/vc_row]TSLA
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Reports that TSLA China sales fell 70%. Should weigh on this. so pops on 342 that fail looking to get short for 330-333. If selling comes in and 325 breaks we could see a dump back into 310sRecap
Wow. this held. Alerted in chat room that it was holding up far better than expected and we ended up getting a bit a short squeeze. TSLA came out defending their china sales. more shorts may have been caught. [/vc_column_text][/vc_column][/vc_row]AAPL
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watching for a push on 172.50-173 to fail and get short for new lows or fast dump on 168 and pop back over 170 for a push on 172 on the buying strength. .Recap
Chopfest. Nailed the early push into 173 for a short and then the dump into 171 support held and covered. The mistake was not flipping long at 172 thought I did take some long later in the day for a small scalp. [/vc_column_text][/vc_column][/vc_row]China names
China tickers are doing pretty good. Expecting some run up into Thursday/Friday and then some profit taking / taking risk off into g-20 summing.
BABA
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Recap
moving higher with market [/vc_column_text][/vc_column][/vc_row]JD
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eyeing any push on 20.50 that fails to get short for a dump back under 20.Recap
looks like JD wants higher with broader market moves up. [/vc_column_text][/vc_column][/vc_row]PDD
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Recap
holding and grinding really well. [/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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