Be sure to read the recap if you haven’t yet.
Check out how I found DSW this morning.
We were on track to open red, last night but futures are up this morning and things are gapping up. Careful if SPY pushes into 268-270 area and fails.
As usual, watch discord for updates.
General market thoughts
We had a dump and test of 260 yesterday and possible channel bottom with the reclaim of 262. Expecting at least a test of 268-270 on SPY before next leg down.
I still think the market is in a precarious spot and good news isn’t trusted. Lots of headline risk and lots of volatility which means we have lots of opportunity. Also UVXY may setting up a monster cup and handle.
I found the headline that I think is driving this move. See this article regard potential tarrif cut on US cars..
SPY -- Looking for 264-265 retest and hold for push higher into 268-270. If 270 pushes and fails, will look for a short. -- LEVELS: AAPL -- Looking for 169-170 pullback and hold for a push on 175-177. -- LEVELS: NFLX -- based on general market -- LEVELS: NVDA -- based on general market -- LEVELS: MSFT -- dips on 106-107 area for a rally into 110. -- LEVELS: GBT -- Offering out and expects to close Dec 11. Will be eyeing dips and volume for a long. -- LEVELS: TSLA -- I was wrong about exhaustion to the upside. Nice double bottom yesterday put in place. So far strong move based on china tariff cut potential. Ideally gap fill and then a push over 380 -- LEVELS:
SFIX -- Still selling even while market is gapping up. Alerted in discord for a short on 26 break in ah yesterday with 22-23 target in ah and possible 20 flush into today. Congrats to any who took the idea. I suggest being mostly covered up in low 21s. Solid work, solid gains. Dont give up 50% of gains on a maybe for another 1 or 2pts. I'm definitely eyeing for a gap down reversal move, ideally off of 19.80-20. If 20 level breaks and hold, next support level is around 18. This is thin and heavily shorted so would love to see short covering trample over each other to get a rip back into 25. -- LEVELS: DSW -- Not trusing this gap up. Nice FY18 raise to inline but not Q4. Looking for a push on open to fail and get 25 strike puts. maybe 22.50. Conf call starts at 8:30am -- LEVELS:
not watching today
not watching today
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