Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
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Good morning all. Remember this is a short week and Wednesday market is closed in observance of Bush.
Be sure to read the recap if you haven’t yet.
Also put out my first video lesson regarding flipping short and vwap this week.
General market thoughts
Yesterday turned into consolidation day. We may see 1 or 2 days lower before higher which is inline with my thinking of a pull back into Wednesday. I think direction will be more dictated by headlines right now. So far we are looking at a weak open.
Boy did I underestimate how far the selling would go! Kind of frustrated at the size I had and I covered way too soon. Part of the game. Important thing to remember was nailed the idea and it’s repeatable. Can always work on improving the net results. Headlines are the key catalysts and continue into Thursday.
SPY
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Looking to get short pops for a retest of 275, BUT we are so far looking at a weak open, and if we open down enough, may get a red to green move back toward 280.Recap
Got short with 278 puts, nice slam into 275 and then onwards. The puts I alerted entries on ended the day up over 1000% [/vc_column_text][/vc_column][/vc_row]AMD
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We had some flow for 24.50 this week so will be watching for an entry toward that. We need to see 23.20 hold to get a push over 24 early otherwise I could see a yank to retest the 22.50 level. That 22.50 yank, and I'll probably get 23 weekly calls if I can fill for under 20-30c. I can't stress enough how powerful it is to have the Black Box Stocks option flow. The membership is easily worth it for that information alone. If you join, remember to tell them I sent you 😉Recap
We got the yank into 22.50 and right through. Alerted that I ended up taking some yolo AMD puts near the close expecting a gap down to 20. Under 19.80 should make these 10 baggers. [/vc_column_text][/vc_column][/vc_row]AAPL
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Looking for a pull back 178-180 for a gap fill. Then would like to get 180 or 182.50 calls for 185 test and possible push to 190. May not happen today since HSBC downgraded AAPL. Overall I think we will see 196-198 if note a move back into 200-205 area in coming weeks. Basically we are probably range bound between 175-210 until next quarter's report(late Jan early Feb) or major market shift.Recap
Well the headlines screwed the big picture plan on this up. Nice read and plan for the short to 178, but then way more dumpage [/vc_column_text][/vc_column][/vc_row]NFLX
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Would love a pull back to 275-280 area to get some Dec 300 calls. Will be watch option flow on thisRecap
Another good idea. Dumped right to 275 [/vc_column_text][/vc_column][/vc_row]NVDA
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Would love 160-162 area for a long. If this pushes and fails, will grab some puts for a fast scalpRecap
No trades [/vc_column_text][/vc_column][/vc_row]MSFT
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looking for 110 level support for a longRecap
Nice pull back, but again headlines wrecked any long tideas [/vc_column_text][/vc_column][/vc_row]GBT
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Eyeing dips. 44-45 and reclaim 48 for 50+ push. This got a $100 pt upgrade yesterday and also saw an upgrade to 150 by HC wainwright.Recap
Nice entry idea for long, but 48 pushes failed. Market isn't helping. Still swinging these entries [/vc_column_text][/vc_column][/vc_row]Earnings Action
RH
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monster beat and guidance raise. This also has 36% of the float short. Unfortunately it ran big in ah. So I'm eyeing 138, 141, and 144 as washout levels I'd like to get long on. If for some reason this rips over 160 fast I'm game for a short. This will be an interesting one for sure given the high short interest and the guidance. Watch discord for updates.Recap
nice entry level ideas, but you had to be quick ot lock in gains on the choppiness. It finally gave up and dumped on news of offering and then the overall market had its hand to more downside. [/vc_column_text][/vc_column][/vc_row]DG
[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
lowered guidance due to hurricane but nice growth otherwise. Any dump sub 100 and I'm interested in 100 or 105 Mar calls and depending on price action, maybe 100 or 105 weeklies. I believe the drop is way overdone and investors will consider the hurricane a one time event, plus dg I'm guessing will do well in a downturn so market weakness may lend some buying. 108 push fail probably a decent short for 105 retest.Recap
105 was a great support area and nailed the short spot at 108. Hope folks got short on 108 for some nice easy gains. [/vc_column_text][/vc_column][/vc_row]AZO
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nice beat. no vol premarket so will need to wait for open.Recap
no trades [/vc_column_text][/vc_column][/vc_row]HDS
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nice beat. no vol premarket so will need to wait for open.Recap
no trades [/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.
Pot names
Given confirmation in CRON on talks with Altria. Should see a pop on weed stocks
CRON
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Perfect reads yesterday with an alert to watch for a pull back to 9.50-9.80 for a long entry for good risk/reward. Gapping at 11.70 as I write this. Hopefully get a yank on 10.80-11 and then breakout over 12 for a squeeze into 14+ CRON has confirmed the talks with Altria.Recap
AH there was rumor of offering. Nice long ideas on dips but they couldn't hold. looking to see sub 8 or 9 in comind days or weeks to establish July 2019 11 or 12 calls. [/vc_column_text][/vc_column][/vc_row]
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