OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

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@everyone WKHS play review.
When playing calls on a bearish day, you have to look at strength in a ticker. WKHS recently saw some very bullish news at the latest conference and a deal with UPS is in the air for new trucks. After watching the previous activity, you can sometimes see and understand the behavior of various tickers. In this particular case, everyone must have been happy to get a dip to load up for longer term. It reached 25 twice last week. 22 was just a gift. When you see the dip, you have to be ready for a support buy. The idea is to have your plan ready for execution. Buying on the way down is risky but when you see the resistance point, getting in before everyone is key for a great fill. When it's dropping, premium prices are at a huge discount. A simple bounce back will often put you in the green by as much as 20 %.
We bought right on support
Note the other support line in case it failed.
From previous posts, you should know by now that first resistance is often premarket resistance which was also an old resistance from a few days back. We were in the money and I was happy with the play. Keeping a few runners with a week to go is a calculated risk. I would not have done it on same day expiration.
Points to remember :
- plan your entry
- execute at your support line (not waiting for it to reverse and now you're chasing)
- know your exit point before you enter in this case stop lower than second support or at your target.
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https://www.tradingview.com/x/tWsb1I3q/ Deeper look at BAC. I really really like swings for BAC even if we consolidate/ chop before elections (Chop theory based on Wyckoff analysis from previous election. It has been showing strength during this recent market sell off and has held its Symmetric Triangle since the COVID drop, and it is nearing its breaking point. If you take a look at these two charts, they are comparing financials to the S&P 500, Information Technology, Communication Services, and Financials. One is a 5 day performance while the other is 1 month performance. If you look at the 1 month, you can see communication services and information technology are moving down, S&P 500 is flat, and Financials are moving up. This is a great example of sector rotation from Tech to Financials. The 5 day also reflects this. You can see as the week progressed, financials made its way above the other sectors, showing strength through the drops. This leads me to believe that we can see our PT for BAC at 29.76 very soon. You can grab a 10/30 28c and have your stop loss if it breaks under the trendline. This is a very good Risk to Reward play IMO. (Creds to @brycat23 for the Sector Rotation guide) (Didn't include other sectors because they crowded the chart.)
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Going to look real hard at that 10/30 28c...
 
Are we jumping on the ORCL band wagon tomorrow? I'm already in bed with FSLY. Trying to complete the circle of life.
 
FSLY is already popping in premarket cause of the news.. IMO I wouldn't be surprised if it finally broke thru 95-100 and held it this week or early next with this tik toc news.. seems it's been trading sideways ever since trump set the deadline and it came out tic toc was a decent size of FSLYs revenue. The biggest question will be if the US accepts the deal since Bytedance actually isn't selling all of tic tok and is trying to do a partnership with Oracle. But Chinese media has came out in the last hour (445 AM EST) saying neither company's will be able to buy tik toc and they won't condone giving up the algo for the videos to ANY US companies..

NVIDIA already up 7%+ in PM on the ARM deal
 
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ORCL isn’t owning them just running their tech operations it seems like. You wouldn’t want oracle to own tiktok it would be the equivalent of when news Corp bought MySpace.

btw Morgan Stanley liquidating their position in FSLY weighs much more than the Tiktok deal ever did. Now that they’re done selling, the pressure should ease up and let it run free. TikTok could just be the catalyst they need to gain attention again.
$VRM needs to reclaim 52.54, otherwise 45 is in play. Over 52.54, 54, 57, 69 are your targets.

$TWLO 204.86 could be a thing if 224 is lost.

$TSLA looks good over 381.48 for 440. Not interested otherwise.

$STNE needs to hold 47.78, otherwise VPOC to 41.

$SQ need to reclaim 139 for 142, 146, 160. If we stay below, risk to 125, 110. Would love to see lower prices to start a position.

$SHOP 820 could be a thing if the market continues flushing.

$SE still think this tags 131.51 before reversing. Got an open order at 132. Would love the add.

$ROKU don't really care what it does. Upside pivot at 159. 146 should provide support but if it doesn't VPOCs at 133, 122 and 112. Would be ecstatic to see those prices to add.

$RKT needs to reclaim 23 to test for the break over 24.34 and pursue the VPOC at 28.50. We have a VPOC at 21.85 so maybe we shake out there and reverse?

$PTON closed right at the downside pivot of 82.50. Really good r/r at that area if the market doesn't flush. If we lose it, 71.50 and 67.50 are in the cards. All good areas to play for a bounce or initiate a long-term position.

$NCNO needs to hold 77.62. Earnings were decent, a big flush could actually make this a decent buy long term.

Reopening stocks could be a thing this week. Keeping an eye on $LYFT. Liking this a lot through 31.15 for 35, 39, 42. Uber for a 40 magnet is possible too.

$LMND might have had the capitulation moment last week so want to see if this holds 48.55 and puts in a higher low. Will probably take some if it looks strong for 51, 54. Through 54 and we confirm a reversal.

$FSLY needs to reclaim 78 for 82.60, 85.50. Under 75.55 and the head and shoulders pattern is in play and a shakeout to 65 or even 55 is very real.

$FIVN needs to hold 113.75 otherwise 104.50 is in play

$DDOG needs to hold 76.26. Below and risk to 69, 50.

$ETSY liking this against 110 for 112, 115

$CRM liking this through 244.5 for 250, 254

$DKNG decent r/r against 39.45

$DIS liking this through 132.45 for that eventual breakout through 135 for 141.

$BIGC decent r/r against 80 for 84, 97.50

$CRWD decent r/r against 124.40 for 130, doesn't hold 121.45 needs to otherwise 114, 101 are in play

$AAPL needs to hold 107.80 otherwise 94, 88, 76 are in play.

$PYPL needs to reclaim 184.62 for 191, 194. Below and room much lower to 179, 156, 145.

$AMD under the supply zone, needs to get over 78.55 for 80,82, otherwise 69 is in play
 
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