January 24

Stock Market Watchlist for 24 Jan 2019

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Good morning!  If the watchlist is helping you, please let me know with a reply on twitter and/or likes/retweets.  Loved hearing that @gonnadoit1 made $3k based on the ideas from yesterday’s watchlist.

General market thoughts

Market is acting a little toppy but still seems to have some bids/juice so hard to tell bigger picture.  I’m watching for rate hike/china trade deal news to give stronger direction.  Great to have earnings season here and semis seem to have done well overall and airlines did good in premarket news/action.

SPY -- We may have put it a failed breakdown move yesterday, if it is and we get fast dump into 263 and holds, and breaks hod, we could see 267 retested and push higher. --
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NFLX -- Looking for 325-326 push and fail to get short for more lows if market is weak. --
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TLRY -- We hit 70 support and bounced. Still watching for volume/news to break 70 for a fast dump into 60. --
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ARNC -- Looking for short squeeze exhaustion, ideally fast candles into 19, but if 18.25 rejects a couple of times, I'm ok with getting short. --
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TSLA -- Any fast pop on 295, I like puts for more downside into a 270-280 test. Wouldn't be surprised to see a pop over 300 soon before next leg down into 250-260. --
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GOOS -- Wells fargo downgrade, looking for a push/fail and good risk reward for a swing short. has decent potential for profit taking. --
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Earnings Plays

LRCX -- Dips on 143-144 like for a long into 150+ and possible swing into 155-160, if 150-152 push on open fails, like it for a short. --
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TAL -- If volume and bids come in, could see a short squeeze into 36, possibly 50. --
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MU -- Watching dips under 35 for possibly long if all semis begin to trend higher. --
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LUV -- Fast push on 55-56, I like for a short for 1-2 pts. --
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Good luck everyone and safe trading.

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