Recaps are a review and commentary on the morning watchlist. Recap comments are in blue.
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Good morning! Hi all. I’m still in Utah and planning to trade first hour and then get some skiing in. Short list today. We have more earnings this week so should get some nice plays tomorrow.
General market thoughts
Overall market is gapping up on China deal imminent news.
See SPY Trade Review blog post for recap on SPY trade.
SPY
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Recap
[/vc_column_text][/vc_column][/vc_row]NIO
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Nice gap up. Congrats for any swinging long. Overall ideally profit taking into 10-10.20 and then push over 10.60 into 12 this week. As always with gap ups, doesn't hurt to lock some in on gap ups and then relong if trend holds. I am a little concerned of profit taking potential given news that china is planning to end local subsidies for new energy vehicles. Need to research more.Recap
Good planning to sell in anticipation of profit taking. 10 held really well in early morning but it could get over VWAP., that was signal to consider locking more in and place stops at low of day. If you think about that logic and if other traders did the same thing, is the fast dump int 9 a surprise? [/vc_column_text][/vc_column][/vc_row]TSLA
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Watching for push on 300 maybe 302-305 and fail for more downside or test of 294ish area and then pop over 300. Overall I have a short bias under 292 and should see 280.Recap
Got the 300 push in premarket and then dump. Great idea and short alert in discord. I was unfortunately off on reaching 280 today. we only saw 283s. Sorry guys. The 290 put went from $6 to over 12$ [/vc_column_text][/vc_column][/vc_row]RKDA
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Nice gap up on hemp license. Has a history of running. Like dips for a break out over 10.50 and push in 12-15+. Need to watch for short trapping and volume as always to time the runs.Recap
Didn't get the price action to reflect short trapping so no trade. [/vc_column_text][/vc_column][/vc_row]AMZN
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Congrats to anyone who scooped for 3:30pm dip buy idea posted in discord and are swinging into this week. So far appears investors are valuing growth opp over the need for large additional investment/ eps concerns. Not sure we'll get it, but ideally get a gap fill dump into 1675 for a long into 1700+ this week.Recap
Nice rip over 1700, waitied patientiely for exhaustion near 1710 and then alerted 1650puts at $3. These hit a high of $9, I think I lasted until 7s [/vc_column_text][/vc_column][/vc_row]VALE
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Finally back under 12 in premarket on CEO step down. Watch price action. Here is the crazy thing, dips are often bought on this name and the typical panic selling one sees isn't happening here. Sure there is steady sell pressure, but it isn't the kind I like to normally play. where we get 5-10% drops in market cap fast. Overall, will eye 12.20 push to add to 12p and look to cover under 11.60-11.80 and leave some on in case 11.50 cracks.Recap
My fears confirmed, There isnt a good day trade here and its time to take this off the radar. If CEO leaving can't tank a stock, its going to take something way major. [/vc_column_text][/vc_column][/vc_row]
Earnings Plays
JD
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Gapping. So far that 30+ I was talking about last week is on deck.Recap
Focus on AMZN/TSLA/SPY dropped this from radar. Got intial push/doubltop. Review this pattern, if you get a double top with premarket high, usually indicative of possible short opportunity. More or less sold off with market. Reports of firings and slow down in China so expecting possible profit taking [/vc_column_text][/vc_column][/vc_row]NTNX
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Decent consolidation under 34.50 on Friday if it pushes over 35, and holds, could get a pop. If we break 33, the next 2 levels are 25 and 30.Recap
Focus on AMZN/TSLA/SPY dropped this from radar. Another good one where is best left alone unless short at the open. No panic selling or big money selling action [/vc_column_text][/vc_column][/vc_row]PLCE
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Guided down for 2019 and also announced acquisitions. Need research if there is potential offering risk. overall I'd love to see a dump in 75, where I would anticipate some buyers to show up. If we get pop on 84-84.50 into open would like a short into 78-80. If re rip over 85.50, I'd like to get long on dips for a push into 90s.Recap
Focus on AMZN/TSLA/SPY dropped this from radar. Glad it did, because the action was messy and didn't follow normal patterns. [/vc_column_text][/vc_column][/vc_row]
Good luck everyone and safe trading. Be sure to like/retweet if you are finding this watchlist helpful.
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