Watchlist May 30th 2019

SPY - We lost an important area of support and gapped down yesterday bouncing near $276.70 area. It appears we’re having trouble pushing back up into that gap in premarket. With this lack of conviction I’ll be cautious in my long positions. Though I do expect this support at $276.71 to hold for today. So, perhaps limited range. Looking at historic flow, I’m not seeing any major call volume for the $280 strike.

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BABA- A few of us hopped on board here yesterday after Jim found some strong options flow. Looking at the chart yesterday the ticker looked due for a technical bounce. We’re up a little here in premarket now and I’m watching $153.77 and $154.39 near term resistance levels for rejection to exit. I’d like to see the $152’s hold as support to remain confident in the trade.

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NFLX - Small gap up, but showing weakness pre-market. I’ll be waiting a bit after open to await a high probability scalp. What I’d like to see is either a strong pullback to yesterdays lows for a long call scalp, or a push to $353.93 for a put play. Either way, I’ll adjust as the chart unfolds.

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Watchlist May 15th 2019

/ES - It appears that the S&P 500 is obeying its channel today. I’ll be preparing for downside with puts and be very careful with calls. Looks like yesterday was just a corrective rally.

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NFLX - Chart wants to give up its major support, I’ll be considering a put swing today if this support breaks.

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Another look at that support line on the daily. If I enter a put swing My first PT will be the 200 sma.

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BABA - Hard rejection at previous demand line. I’m expecting a small rally followed by selling this morning.

BA - This is my top watch this morning for puts - pretty much out of the gate. I’ll wait a few minutes and short on weakness.

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UVXY, SQQQ, VIX all on watch for upside.

Watchlist May 10th 2019

SPY Tariffs have been increased on Chinese goods. Our market has been continuously pricing in a trade deal since January so I personally anticipate more downside to come. However today president Trump is meeting with Chinese leadership and I think the market will hold off on major selling in hopes that a trade deal “gets done”. Stay nimble.

BABA - After many day's selling off I expect to see some upside today prior to Trumps call with Xi. I’ll watch for call opportunities on dips to $179s. After the call is anybody’s guess so stay nimble.

JD Nice, earnings beat this morning after a very bullish recovery day yesterday. I’ll be watching for continuation. I’d like to see $28.93 hold as support in order to remain bullish. Again, the tariff discussion can send us in either direction.

Z Zillow beat ER last night. We’re selling off this morning. I’m bullish above $38, and will evaluate puts if sell off continues.