unknownreference

unknownreference

Data with potential indications of slightly longer rate hikes and/or rate hold, and the general market being frothy at these levels give me a good enough reason to be bearish at the moment. Personally, if it actually spikes over 4160-4200 short term, I would add more shorts for it to come back to 4000/3960 value area. I think it is a good spot to take some...

unknownreference

Looks like BA is poised for a run up given some of the recent good news. This needs to be supported by the broader market of course, but if things align, and we break out of the flag on the weekly, a run up to 300 may not be out of the question. A hedge to cover the bottom of the flag may also be a worthwhile addition if going long before confirmation of breakout.

unknownreference

I would stay careful after the recent euphoric run after cracking 4K. Watch the Fib 1.618 resistance this week. Hedge as needed. I've taken profits on longs and added some negative delta. Will nibble some more this week if it makes sense. Best.

unknownreference

FB has been consolidating nicely and the ER was a non-event even midst a decent beat. While the longer term outlook of ad-based revenue may be in jeopardy with where the industry might be going, the technicals look sound for a bullish breakout soon enough. The weekly looks wound up and should produce an explosive move to either direction soon. My money would be on...

unknownreference

Since the last update on MRNA upside move, we have exploded midst market choppiness. This was a fantastic move and I think the momentum will start to slow down in the next couple of days. Its is a good area to lock in profit and sit in sidelines while continuing to keep MRNA on watch. If you took the PPH hedge, that worked well decently as well.

unknownreference

The bull thesis got invalidated today. The past few days had explosive ramp ups in NVDA but it got sold off near 546 and 537. The lower trendline support and pivot of 522 was tested multiple times and finally broke down. I took profits on the way up and exited the rest at breakeven. Should've could've sold more near those resistances, but oh well. Good start for the year.

unknownreference

Based on the trend-based Fib extension, this could be possibly a near term top in TSLA. Though, I've seen reports of over 800 range, I think there is a much higher risk to reward to take a short position at these levels. I have not fully looked into the volatility ranking of TSLA just yet, but backratio or iron-condors could be viable. Note that it was a breakout...

unknownreference

The emerging markets have had a good bullish run since November with the rest of the market and it was supported by some heavy call flow recently. Now that the 53 Fib target has been achieved, I think it is time for the overall markets to consolidate or even take a leg down to cool off. I think a retest of 50 or lower is not out of the question. The maximum upside...

unknownreference

I like MRNA long here and I feel it has closed a significant gap to the downside. The move today was quite bullish in terms of a reversal setting up and the Fib analysis shows that a potential retest of 135 zone may occur soon enough. This is in addition to some of the positive news that have been flowing on MRNA vs PFE vaccine usage as some states preferring MRNA...

unknownreference

Excellent move in BIDU over the last several weeks and I think we have recently hit the near term highs. Any further move up will require consolidation and therein lies our opportunity. Idea 1: Sell Feb 200/220C spreads to fund the 215/205P spreads. Idea 2: Lopsided Put Butterfly spreads or backratios (given that IV is just below HV at the...

unknownreference

Beautiful channel breakout after consolidation. Quite possibly a retest of previous highs coming soon with DXY taking a dip inversely correlated with the market move up.

unknownreference

A potential Head and Shoulders formation on FDX that needs to confirm this new year. Nice consolidation this past month and I think this ticker is ready to move to complete the last shoulder here before a continuation move up with earnings to the upside on the back of holiday shipping revenue. Again, if the market cooperates, this could be a nice opportunity to...

unknownreference

NVDA has had a beautiful consolidation and a flagging pattern the last several months. The downside trendline has held quite well for the most part but the price action has been quite choppy however. I think the price is about to explode higher, if the rest of the market stays green. My target is 580 by January 15th (or monthly expiry) based on the Fib time...

unknownreference

Market looks ripe for another leg down in the near future. We retested that upper trendline on the weekly, and then came that quick selloff two weeks back fueled by FOMC statements. Now slowly grinding our way back to the top trendline resistance again and we probably will get there. However, another rejection at 3235 and I'll be taking an aggressive short...

unknownreference

The market has had a fantastic bull run since the financial crisis after forming a bottom in March 2009. The rally has taken us over 100% since and then some and there really isn't anything one could ask for given the euphoric push forward this early 2020 that is reminiscent of the run in early 2018 before the volatility spike and correction. However, this Corona...

unknownreference

SHOP an excellent candidate to sell some March IC here and collect premium; I'd start with selling some call spreads above 590 here and sell put spreads on a leg down/consolidation which should happen soon IMO.

unknownreference

Dollar having a beautiful breakout on the daily and the market recovering pretty well after some recent consolidation. Brings in a potential trade opportunity to take a bearish position on GLD for short term. Possible ideas: 03/06 GLD 147P for 1.0 or the 148/146P spreads.

unknownreference

I posted about the bullish thesis in SHOP earlier (), and we had an excellent entry near 310 levels where the Fib 61.8 retracement held. We are now approaching near term upper resistance and it might be time to scale out if you have options positions on. 340-346 would be the profit taking range IMO unless you decide to roll out or convert your positions into spreads.