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What Happened? A Recap of Stock Market Watchlist for 11 Dec 2018 

 December 12, 2018

By  spectre_trades

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

If you are having trouble with trading options, figuring out trades plans, choosing a broker, reach out and ask for help.  Send me a msg in discord or twitter.

Good morning.

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 tariff cut on US cars.

CORT

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Pre-market Notes

Recap

We got some patent news and this ripped. I tried shorting this a couple of times around 15 but it held. Took paper cuts (-.05) perfectly on recognizing the hold, then once the grind started alerted 15.80-16 for long. Thinking this may push into 20 consider 20% short float and typically thin volume. [/vc_column_text][/vc_column][/vc_row]

SPY

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Pre-market Notes

Looking for 264-265 retest and hold for push higher into 268-270. If 270 pushes and fails, will look for a short.

Recap

Nailed the alert, failed on the execution. First trade was a loss and next trade was a gainer and netted 20-40% BUT if I stuck with the plan the those puts went to 200-300% and missed my stop loss by .05. Really bad execution on my part. Sorry about that guys. [/vc_column_text][/vc_column][/vc_row]

AAPL

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Pre-market Notes

Looking for 169-170 pullback and hold for a push on 175-177.

Recap

AAPL couldn't hold and dumped into 166. This is a higher low than the 165 breakout higher [/vc_column_text][/vc_column][/vc_row]

NFLX

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Pre-market Notes

based on general market

Recap

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NVDA

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Pre-market Notes

based on general market

Recap

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MSFT

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Pre-market Notes

dips on 106-107 area for a rally into 110.

Recap

Dipped to 107.50, but and I was too greed looking for overshoot 107.50 was gap fill. Gapping into 110 in premarket [/vc_column_text][/vc_column][/vc_row]

GBT

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Pre-market Notes

Offering out and expects to close Dec 11. Will be eyeing dips and volume for a long.

Recap

Looks like this may need to consolidate for some time before it legs up. [/vc_column_text][/vc_column][/vc_row]

TSLA

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Pre-market Notes

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

Recap

Nice pull back and grabbed 375 calls for 4.50 on the way down that started looking really ugly. Added at 3 once it started turning and we got a nice push into $6. Kudos to BM in dicord for alerting it. [/vc_column_text][/vc_column][/vc_row]

Earnings Action

SFIX

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Pre-market Notes

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.

Recap

What a dump! 20 level broke and dumped into 18.40-18.50. Alerted last covers on short idea around 18.80. Was looking for 18 test to flip long. Ii regret not paying closer attn to the chart and getting some long with a plan to add on 18. [/vc_column_text][/vc_column][/vc_row]

DSW

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Pre-market Notes

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

Recap

Couldn't get decent priced puts on this one. Really annoyed. Nailed the short idea off the open but the 25p were running $3! Like I'm going to pay that -- jerks. Dumped right under 25 [/vc_column_text][/vc_column][/vc_row]

China names

not watching today

Pot names

not watching today

 

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spectre_trades


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

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