Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
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Good morning.
I’ll be on vacation most of next week. Monday is a half day and I’m flying in the morning and with family for the week. I might be available for first hour or two depending but can’t make promises now. Wish everyone a very happy holiday!
Very short list today. PLEASE BE CAREFUL TODAY and if new consider trading smaller size or just watching. Why? — Today is quad witching and possibly the last day of trading for many if they are even still around.
General market thoughts
Still short biased but also keeping an eye out for a bounce. General Mattis leaving creates a fair amount of uncertainty in the world.
SPY
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Watching for double bottom off 245 for a push on or over 250 or a push on 250 to fail and get a break down on 245 for the next level at 240Recap
Nailed it! Alerted 246p entry at .40, these hit $6 by end of day. I had too much size on early lost focus and took gains way to quickly. SPY failed on its push to 250, and then slammed to 245. If you paid attention to the candles and the price action, you could see how all day every pop was being sold. [/vc_column_text][/vc_column][/vc_row]XPO
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Looking for a short setup and sell off to potential new lows.Recap
I was impatient with this jumped on $50 puts anticipating the break down and was up 100% at one point, but I got too stubborn with SPY hitting lows and though this would break down and end up lossing all the premium. [/vc_column_text][/vc_column][/vc_row]PRGO
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Gapping down on $1.87B Irish Tax Bill. Gap down is on low vol so looking to get some 47 calls on the open if market shows strength. Ideally gets a fast panic dump into 44-45 first. Depending on volume, I'm also open to getting short if it looks like all day seller with a target of 40 -- will be watching for a push on 48 to fail for that idea or general heaviness.Recap
Talk about a lucky fast entry. Filled right at the open for .30, popped to almost .90 fast, sold 1/3, held rest for the day. This hit $37. so these puts went to $3! I repeated multiple times in the chatroom. Watch for PRGO break 41, if it does, next stop is 38. Congrats to anyone who followed the idea. [/vc_column_text][/vc_column][/vc_row]Earnings Action
NKE
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Nice vol in ah yesterday. I like dips for a long if market holds. If NKE pushes on 74 and starts to fail, I like it for a short for 70 and with market dumps much more gap fillRecap
popped right into 74 and sold off. didn't quite make it to 70, but trade idea would have worked. no trades for me. [/vc_column_text][/vc_column][/vc_row]MU
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Still holding pretty well. Looking to buy dips if market finds support.Recap
This gave way and with market weakness no trades. [/vc_column_text][/vc_column][/vc_row]Pot names
TLRY
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Not watching TodayRecap
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