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 moves this week are inline with my expectations as mentioned in the Bulls Feel the Chill post. So far we are running up into g-20 and no gap up which is a good thing for possible continuation. Powell’s comments were a relief to the market and sentiment may be shifting. So far I’m thinking we may see a weak open dip on profit taking and then a push higher. We’ll need to see how sustainable the push is today. I’m expecting possible selling after lunch if not after first hour depending on how far we extend. Thesis is that ahead of g-20 folks will want to take some risk off considering how volatile Donnie is.
It turned into a mostly annoying day and we didn’t get the continuation I was looking for but we did see great short off the open into the support areas and then bounces from there.
AMZN
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dips on 1650-1660 that hold I like for possible 1700-1720 push.Recap
Great read and targeting on where to enter long. got a 25-30pt move from that level, but it took all day. [/vc_column_text][/vc_column][/vc_row]PCG
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if any push into 29 I plan to take profits.Recap
Nice push into 27s but hearing today yanked PCG back under 27 on talk of break up of PCG [/vc_column_text][/vc_column][/vc_row]AMRN
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still eyeing. want to see some long term call flow to take a position.Recap
No position yet [/vc_column_text][/vc_column][/vc_row]NVDA
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dips on 158 for continuation to 162+Recap
Nice dip early right into just under 158 and then pop over 160 and fail. Important to lock in gains during big moves in the first 30minutes. Turned into a consolidation day with possible lower high in place. Citron also reportedly at no position now and better to sit on sidelines. Nice work on their part for getting 130s to 160 per their plan. [/vc_column_text][/vc_column][/vc_row]TSLA
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more consolidation. if we get some news, would like to join a long of a dip.Recap
no trades [/vc_column_text][/vc_column][/vc_row]AAPL
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Incredible move yesterday. dips on 178-180 that holds could be what is needed for next leg up. Heard somewhere that XR sales are great. so will keep an open mind for a strong push into 188-190 or for a failed push to take some profits. In theory we could see 196-200 IF we don't have big selling come in.Recap
Had to be very patient to wait for the entry on this. Eventually got in with size on 180c for $.87 and then sold for $1.10. Nice 20% gains and repeated that process a couple of times but it was incredibly frustrating because Theta was killing the idea. Basically 90c buys at 178 being 120-130c at 180 was just no fun considering how many times it kept pulling back to entry price while the stock was moving higher. The big screw up here is the choice of strike. Could have entered the 177.50 for around $1.50 which rallied up over $3 by end of day without the going red risk. Sure the 180c got to over $1.40 for 70-80% gains BUT the stress of possibly going red was horrible [/vc_column_text][/vc_column][/vc_row]Earnings action
YETI
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going to watch volume and dips on 19.50-20. if this sets up right, this could do a monster multiday/week run.Recap
I hope folks paid attention to twitter where I alerted based ont he volume I'm not trusting the move. Once it dumped and broke 19 it was done. Will be watching over the next couple of days for support and reversal. I tried to get puts on this but the spread was nastry [/vc_column_text][/vc_column][/vc_row]VEEV
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nice daily, eyeing dips on 102 that hold at open for a long. There is a chance that this turns into a profit taking day -- if so, will look for a short. Watch chatroom for alertsRecap
Turned into a profit taking day. Also another one I alerted today that based on the action laste premarket, I was leaving it alone. Glad I did. I love catching moves in everything but been working on reducing volatility in the account and part of that has been to eliminate noisy/risky trades. [/vc_column_text][/vc_column][/vc_row]Not on Watchlist
TWTR
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Recap
Had a monster unwind / sell off sub 30. I alerted long entries on 30c for $.55. Those calls got to $1.60 -- almost 300%!!! [/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
[/vc_column_text][/vc_column][/vc_row]JD
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Ideally get a dump low 20s and hold over next couple of days to relong.Recap
[/vc_column_text][/vc_column][/vc_row]PDD
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Recap
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Good luck, Trade Safe. Trade Green.
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