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What Happened? A Recap of Stock Market Watchlist for 18 Dec 2018 

 December 19, 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.  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.

  1. Potential higher low,
  2. More buyback announcements,
  3. Started getting some decent call flow
  4. 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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Pre-market Notes

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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Pre-market Notes

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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Pre-market Notes

Eyeing with market

Recap

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MSFT

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Pre-market Notes

Eyeing with market. Overall I like long on dips as long as SPY stays over 255

Recap

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XPO

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Pre-market Notes

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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Pre-market Notes

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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Pre-market Notes

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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Pre-market Notes

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 violations

Recap

more lows. no trades [/vc_column_text][/vc_column][/vc_row]

Earnings Action

DRI

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Pre-market Notes

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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Pre-market Notes

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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Pre-market Notes

Potential long on market strength

Recap

no trades [/vc_column_text][/vc_column][/vc_row]

COST

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Pre-market Notes

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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Pre-market Notes

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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Pre-market Notes

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.

If you’d like a free trial of black box stocks and chat with me on discord, be sure to message me on twitter @spectre_trades.

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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