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 making trade plans, trading options, choosing a broker, reach out and ask for help. Send me a msg in discord or twttier.
Good morning all. Please tweet at me and let me know what tips you would like to me write about. Lots of earnings plays from last night. So far I’m not in love with any particular play. I’m writing this at 6am so still have a couple of hours to see premarket action. will tweet if I see anything major change.
General market thoughts
G-20 meeting is starting so won’t be surprised if action is muted today or if we have some risk averse selling. But we never know so price action will be key and watch for comments in discord. So far market weakness in early premarket.
Looks like we had a roughly wait and see to net positive bias today. early pops just before open, then a yank and hold and choppy move slightly higher until after lunch where support got tested and then a rally. Net reaction on day indicates low expectation of implosion on trade talks, and better than 50/50 expectation of some positive result. I guess we can call it cautious optimisim.
I’m doing the recap here on Sunday evening. Early reactions on futures is positive. Should get some nice gaps ups on Monday.
Pre-market Notesif 1650 breaks, expecting a pull and test of 1620-1630 levels and then get some long for 20-30pts. If 1660-1670 holds we might get a push for 1695-1700.
RecapGood read. Ticked 1696 into the afternoon with dips into 1660 that held for entry for longs. I didn't take a trade on this today since there was so many other setups. [/vc_column_text][/vc_column][/vc_row]
Pre-market Notesstill eyeing. nice support on 17. if I don't see any option flow I like I might take it off radar or start looking for a short setup.
RecapDidn't see any flow I liked and it popped without giving a nice short setup so not trades. Once couldh have take short off of 18 for 30-40c gain, but it didn't feel right and I wanted to participate ina bigger move. [/vc_column_text][/vc_column][/vc_row]
Pre-market Notespossible lower high, watching price action to pick a direction. slightly short biased for profit taking at the moment.
RecapNice yank at open and then pop and grind with market strenght. [/vc_column_text][/vc_column][/vc_row]
Pre-market Noteswill be watching for any big moves to join and/or play for a reversal. short bias
Recapnice yank into new lows on the day in late afternoon and then reversal. One of my most favorite setups. I unfortunately played the action on MSFT instead of AAPL. The 177.50 calls with late entry were good for a 100-200% gain -- from 0.50 to $1.80c. [/vc_column_text][/vc_column][/vc_row]
RecapLots of call flow for 115exp1207 calls came in at .30-.42 today. I didn't want to chase this so I was patient. I got filled at 0.25 and am swinging this into next week. On the late day dump I took 110 calls for next week instead of this week to be safe but do regret not also getting weeklies. The 110 calls exp next week went from 0.85 to $1.20-$1.40 for nice gains, but the weeklies went from 0.25-0.75. Still overall great work and alerts. I mentioned in the black box chatroom that the reversal setup indicated that there was a high probability MSFT will go back to test highs. LOVE THIS SETUP. [/vc_column_text][/vc_column][/vc_row]
Pre-market Notesbig move over the last week. going to be eyeing for stalling to a short. Ideally gap up push exhaustion and get a short for 2-4 pts
Recapno trades but idea was solid. gap up pushed into 64, exhausted and dump into 61. [/vc_column_text][/vc_column][/vc_row]
Pre-market NotesNot sure where this will go today. I might take some of the scoop from wednesday off for a small loss if I can. Feels like a stall out and we might get a pull back under 25 to reload long at a better price.
RecapTried to sell some per plan anticipating this dip, but couldn't get filled. Bag holding plan for now. Still think we see 29-30, will be looking for flow and dips sub 26 to add to position. [/vc_column_text][/vc_column][/vc_row]
Pre-market NotesSo this got wrecked. Commons was the way to trade this. couldn't get options at a good risk reward filled. Ideally gap down fast dump 14.80 with volume absorbtion to get long.
RecapNo trades. If a setup doesn't form, no need to force it. [/vc_column_text][/vc_column][/vc_row]
Pre-market Notespretty decent volume ah yesterday. idealy get a push higher on this gap for a short and then look for support to be found for a slow grind higher. potential support around 152 and 155. if 152 breaks and can't get higher, I will join for all day seller. if we break over 162 and hold over that after first hour, I'll look for slow all day grinder higher.
RecapPerfect read. dipped to 154 and then ripped. Amazing entries on this today. I alerted getting filled on 160c on the dump at $1.0. These calls ended the day at $4 while peaking at $6 [/vc_column_text][/vc_column][/vc_row]
Pre-market Notesearly action in ah was DIRTY. if dips on 102-103 hold might be worth a long. Will probably wait for first 15 minutes to play out or wait for first hour and see trend. May skip this all together if I don't see a good setup.
RecapCrazy rip just ahead of the open and then a dump. I grabbed some calls for a fast 50-100% gain but definitely minizmied the potenital for additional trades on this one. There was a vwap dump that I forgot to place an alert for. That dump would have allowed entries on the 110c for around 20c. End of day these hit $2.00. Really frustrated on this, because it tested vwap multiple times and gave multiple chances. [/vc_column_text][/vc_column][/vc_row]
Pre-market Notesnice price target of 240 out. Ideally dips on 176-177 that holds for a move higher. Not loving the ah chart all so antoher one that will be hard to anticipate initial reactions. So will let it settle and prove a trend to join.
RecapI WAS DEAD WRONG on my entry on this one. Got a nice call entry on the dump thinking it would trade like the other tickers of the day. That said, there is a way to make money being wrong. When I saw the trend lower and longs trapped grabbed 177.50 puts on that pop into 180. These went from $1 to $4+ [/vc_column_text][/vc_column][/vc_row]
Pre-market Notesgap up push on 40 and see lower highs to get short. The higher the better. If it dips on the open and holds 34 and starts to grind of push over the open fast, will join the long on dips.
Recapnice push into the 40s area and a lower higher at 40.10 but it had strength. I didn't take any trades given limited mental bandwidth. It didn't get under vwap which would have been keep to see weakness develop for a end of day dump like PANW got. [/vc_column_text][/vc_column][/vc_row]
Good luck, Trade Safe. Trade Green.
Remember to follow me on twitter for updates and black box stocks on discord for real time comments.
If not a member, please join me at Black Box Stocks for real time updates/alerts.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.