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What Happened? A Recap of Stock Market Watchlist for 20 Dec 2018 

 December 21, 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.

Thank you Fed for the dump yesterday.

Trying something for the first time to take advantage of SPY volatility.   Check out the Can we turn $2,000 into $50,000 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. If you have some ideas for the challenge, please message me on twitter or discord.

General market thoughts

Still short biased but many names are at support levels and we could get a bounce soon if we don’t break support and see continued selling. Price action is defintily starting to feel like selling is exhausted.  SPY has had 7 red days in a row…

Market was really weak for most the day. Instead of the regular pushes and hold we got each morning we got steady selling after first hour.

Overall I’m going to take it easy today.  Going to let the market tell me what it wants to do.

SPY

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Pre-market Notes

Nice clean test of 253, bounce and break into 250. We're at a key area. In theory we should dump now into 240-245 over the next couple of days, but my spidy senses are telling to be prepped and ready for a sharp bounce. So will look for a push and test of 253 area to fail for more dumpage or for 245 slam for bounce. If we clear 253 and start to base and then continue higher, will look to get long. with tight stops.

Recap

Wow couldn't even get to 253. double top on 252, break 250 again and then boom we got 245. Nice read on targets. [/vc_column_text][/vc_column][/vc_row]

FB

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Pre-market Notes

FB out with some defence. Gene Munster out with best of FB is behind it and look to see it continue to lose users. So far 132 holding well. Ideally push 133 at open fails, fast drop to 130 and slow all day seller. Looking for 125-128 by end of day. If this hits 120-122 and bounces, I'm a buyer for a bounce/push back into 135 next week.

Recap

Very very annoyed at this. I had described it to a member in the chatroom akin to getting the limo, getting the bottle of champagne, heading over to my date's house to pick her up and finding her kissing some other guy on the porch. Ended up net red but nothing out of risk tolerances. I had sized in for the breakdown and it just didn't appear. What's worst, is that given my attn on FB, I missed out on scaling in on other trade setups on other tickers that rocked. [/vc_column_text][/vc_column][/vc_row]

XPO

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Pre-market Notes

Looking for a short setup and sell off to potential new lows.

Recap

Still holding up but lower highs. Check out the hourly chart. Easy to sine the line in the sand for a breakdown. No trades [/vc_column_text][/vc_column][/vc_row]

ISRG

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Pre-market Notes

Very thin trader but there were was some 450p flow as mentioned by @dc-bouncetrader and there was an NBC News article out last night that might trigger some selling.

Recap

Nice sell of out of the gate. I couldn't decide on which strike and was too focused on FB -- missed the trade. The 467.50 puts went from 2.30s to 16! Damn you FB. [/vc_column_text][/vc_column][/vc_row]

Earnings Action

WBA

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Pre-market Notes

Revenue miss. looking for 69 break for more down side or dip and grind.

Recap

Nice sell off but boring range. the 70p did go from .40 to 1.40 [/vc_column_text][/vc_column][/vc_row]

MU

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Pre-market Notes

Held pretty well. Looking to buy dips if market finds support.

Recap

Missed this trade also. Checkout the push at the open from 31.50 to 33. And then getting short on the lower high would have been gorgeous. [/vc_column_text][/vc_column][/vc_row]

Pot names

TLRY

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Pre-market Notes

Another deal/pump. Looking for early push, shorts come in, dump, and then secondary push to high on a short squeeze to test 90 and then I'll probably get some Jan puts.

Recap

Nice pushes on 80s. Still struggling with that area and dips into 75-76 found buyers. Overall I think strength is still met with selling and patience is need for more 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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