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What Happened? A Recap of Stock Market Watchlist for 3 Dec 2018 

 December 4, 2018

By  spectre_trades

Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.

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Good morning all.  Please tweet at me and let me know what tips you would like to me write about.

Be sure to read the recap if you haven’t yet.

Also put out my first video lesson regarding flipping short and vwap.

General market thoughts

G-20 meeting ended on a positive note with a 90 day halt on additional tariffs while both side try to come to a deal.  So may tickers are gapping up hard.  Expecting either some initial profit taking and then a push higher or possible run at the open and then we get some stalling for the profit taking.  I’d overall prefer the second.  SInce we moved past and into many different levels most of the tickers I’m watching I wont have price levels on since we just don’t know what will happen.  90% sure of profit taking, 100% sure I don’t know when and where it will happen and where support will be found.   I’ll be alerting in discord.  Overall I want to get short for some profit taking.

Short idea off the open was spot on.  Seems like we all were waiting for a bounce / continuation but instead day turned out mostly about profit taking and consolidation.

SPY

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Pre-market Notes

Expecting some selling into this 280-281 area based on daily chart resistance. I like a pull back to around 278 for a possible long

Recap

Perfect play... short 280 and dropped right to 278 where it bounced from. If we don't clear 280 probably get a break of 278 support and looking for 275-276 as next support area. [/vc_column_text][/vc_column][/vc_row]

TWTR

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Pre-market Notes

Nice gap up. If this gets a push and given some insider selling news, may be decent short candidate if market goes weak.

Recap

Nice continuation and push but didn't see a reason to get short with market consolidating vs selling off. [/vc_column_text][/vc_column][/vc_row]

AMZN

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Pre-market Notes

Recap

Tried taking a long on this but thea just ate the trade away. There was some long flow which I followed at a lower price and ended up cutting flat. I'm a big fan of going green fast on entry otherwise my timing of the entry is bad, so I gave it time to work, probably too much. At most was up 8% and down 10% while I waited for it to play out. [/vc_column_text][/vc_column][/vc_row]

NFLX

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Pre-market Notes

Recap

wish I got this short into that 298 push, was looking for a popinto 300 and fail and then the profit taking. This had reative weakness compared to other names, but not surprising give its ripped almost 50 bucks from 250s within a couple of weeks. Eyeing 275-280 level as possible long entry for 300+ push. [/vc_column_text][/vc_column][/vc_row]

NVDA

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Pre-market Notes

Recap

Another profit taking and pull with market consolidation. Missed the short entry on this so left it alone. [/vc_column_text][/vc_column][/vc_row]

AAPL

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Pre-market Notes

Definitely watching for a possible short off the open, but ideally gets a pop first. Overall I think this is on track to retest 196 this week.

Recap

Perfect plan to get short off the pop at open for a couple of points. Starting to think 196 by this week might be too agressive. Hopefully get 178-180 test on Tuesday to get long for 185 break and possible 190 by Friday. [/vc_column_text][/vc_column][/vc_row]

MSFT

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Pre-market Notes

ideally pushes into 114.50-115 for profit taking and pull back to 110-112 by Wednesday to setup for all time highs breakout over 116 or steady bids and buying and clean break out. So far 112.50ish area should find buyers if market holds up and MSFT dips.

Recap

Great doubler on the 115 calls from Friday. in at .25 out .60. Was wrong arbout 112.50s area being support, but the idea for pull back to 110-112 by wednesday is on track. [/vc_column_text][/vc_column][/vc_row]

CLVS

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Pre-market Notes

Gapping up on sympathy to TSRO. Top watch for a short for me.

Recap

BOOM! missed entry on short and looking for a vwap test to get short but didn't get it. Using shares vs options the easier play on this one. [/vc_column_text][/vc_column][/vc_row]

NBEV

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Pre-market Notes

Watching if volume comes in and this holds, but overall I think a push retest 5.80-6 and then a fade back to 4.50-5. If this can clear and hold 6, probably looking a test on 8 again. But it should have a lot of resistance getting there.

Recap

Overall nice support and basing on 4.80-5 but it struggled to hold and clear over 5.20. There is definitely buying interest, but also lots of profit taking by the buyers in the 3s recently. [/vc_column_text][/vc_column][/vc_row]

GBT

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Pre-market Notes

Recap

Alerted this was added to my watchlist on twitter after publishing. What a beast today. Impressive 50% gainer. Got a nice scalp long in at the open and then missed the obvious short entry (too many tickers). Saw it hit 40, and was like man, this is a buy, and then didn't take it. Missed an incredible long entry and push. I didn't want to chase it so waited for the chart to develop and then got a nice option play when I alerted GBT likely going to 50. 50 calls were around 2.50 at the alert, I sold my calls at 3.45. Also alerted after the 50 push, I was expecting an afternoon dump into 44-45 -- decent read on thatm but only dumped as far at 45.50. Will be eyeing tomorrow for a day 2 move. Need to do some research on their cash position and make a guestimate on offering risk. [/vc_column_text][/vc_column][/vc_row]

China names

I’ll be watching for dips for entry on continuation.  We might get a december rally into resistance levels and then I want to get short.  So will plan of big picture levels in coming days/weeks.

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.

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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