Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
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Good morning. my notes are primarily long biased for the day. but if market turns into a sell the strength action day, I will look for short entries — as usual watch discord.
Trying something new for the first time to get advantage of SPY volatility.  Check out the Can we turn $2000 into 50000 Challenge? Please be patient as I’m still working on the page and how to manage this. It was a spur of the moment idea.
General market thoughts
What a flush into Feb support yesterday followed by a nice bounce. Lots of eyes looking toward Fed meeting tomorrow. So we had a few interesting developments into yesterday’s close.
- Potential higher low,
- More buyback announcements,
- Started getting some decent call flow
- More upgrades to outperform on companies.
I’m still short biased overall, but I think there is potential for some relief/sharp rally.
SPY
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Key levels I'm watching for short/long and reactions/volume are 252,254,258,260. Thoughts are if we push and fail 258 and break 254 then much more downside coming with a 243 target, if we dip and hold 254/255 and then rally break over 259/260 we could have a multiday push back into 265-275.Recap
nice gap up but we stalled under 258. Tuesday was day 6 of selling with lower highs and lows. Had a dentist appoint so missed a nice short for afternoon dump:( 253 is the next big key level now to watch for a drop. Got supported a couple of times yesterday. [/vc_column_text][/vc_column][/vc_row]JNJ
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Overall the push in JNJ seems lackluster given CEO on Cramer last night. Going to watch for fails, but if market shows strength and we clear 132, I like for potential long on dips.Recap
Nice planning / reads overall. We cleared the 132 area and then dumped right to 130 where I alerted as a good long area. Overall 132 didn't have the follow through on the second push over. I'm thinking we may revisit 125 before we see 135 if 129 breaks. [/vc_column_text][/vc_column][/vc_row]AAPL
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Eyeing with marketRecap
[/vc_column_text][/vc_column][/vc_row]MSFT
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Eyeing with market. Overall I like long on dips as long as SPY stays over 255Recap
[/vc_column_text][/vc_column][/vc_row]XPO
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Looking for a lower high and/or retest of 55 to fail to get short.Recap
Nice read. got a push into 56.80, then a lower high, and boom 3-4pts to get paid. [/vc_column_text][/vc_column][/vc_row]BA
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Nice rally on buyback announcement. Will be eyeing dips on market strength as long at 318 holds.Recap
no trades for me. but a few people took 330 puts into the push over. [/vc_column_text][/vc_column][/vc_row]GE
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Basically we based Friday between 7-7.20. Keeping an eye on it, but not sure we get any more big moves, until news/volume.Recap
nice basing on 7.20 we may have found a near term bottom [/vc_column_text][/vc_column][/vc_row]PCG
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We had what looks like an exhaustion push into 27 on Friday and dump into low 24s. We had more news over the weekend regarding safety violationsRecap
more lows. no trades [/vc_column_text][/vc_column][/vc_row]Earnings Action
DRI
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Nice beat and raise on a beat up chart. eyeing dips on 99-100 to hold and if we have market strength to get long.Recap
didn't dip to where I wanted for entry but got a nice push into 105s [/vc_column_text][/vc_column][/vc_row]ORCL
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Not trusting this gap up. looking to get a starter short out of the gate and add on a push and fail.Recap
A few people nailed this ideaa for 100-300% gains. Congrats! Checkout the initial dump, then the push on 47.50 that failed and then payday! [/vc_column_text][/vc_column][/vc_row]ADBE
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Potential long on market strengthRecap
no trades [/vc_column_text][/vc_column][/vc_row]COST
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closed on key 200 level. if this holds, could be a nice long.Recap
no trades [/vc_column_text][/vc_column][/vc_row]Pot names
TLRY
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Potentially big impact announcement with deal with Novartis. This could bring new money in and cause a squeeze. But remember they have share lockups coming in January so if we get a fast move into 90 or 100 I'd be a seller.Recap
Monster read!!! I took commons around 70:) Wish I grabbed the 77 calls for $1 [/vc_column_text][/vc_column][/vc_row]NBEV
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Recap
Glad I didn't chase this, nice dump. needed a dip. Now watch if more shorts trapeed of ir new lows. [/vc_column_text][/vc_column][/vc_row]If not a member, please join me at Black Box Stocks for real time updates/alerts.
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