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Market Recap, Thoughts & Game Plan For 8/25

Hi everyone!

Market recap:

  • ANNIHILATION!!! Flash crash?
  • Market opened up with $DJIA down 1,000pts, $SPY drops ~ 8% to 182.95. The 10% correction from all times high would give $SPY @ 194, but we fall way below that at the closed today's @ 189.74
  • This was the market first big sell off since 2008. The last three trading sessions for $DJIA were down 358, 530 & 588 points for the avg of 492pts. WOW!
  • $IBB $XBI joined in the the sell off w/ 4.62% & 5.33%
  • SHANGHAI, NIKKEI & HSI leads the big sell off on the night before U.S market open. Big concerned over there, have to watch their market at night. Still like to stay short on their equities.
  • Today's was a whipsawed trading range good for day traders. Market did have a strong bounce from $DJIA down 1000 pts to only 190points, but all bounces and strength were sold into.
  • $CL_F crude oil fall under $40/bl and closed @ 38/bl. Still bearish on all oil. I see it trade between 35-37/bl before summer is over.
  • Volatile market are good for day trades, it was a whipsawed day.
  • This is the three days market been beat up. I like to see a big bounce tomorrow on short covered rally.
  • A bear and correction market doesn't means you can't make money off from it.

Today's trade recap:

  • $UVXY was a big winner highlight it on last blog. I was expecting to pop to $50, but at pre-market it was up to $72. Wild ride
  • $SPY, $AAPL & FB. I alert my G+ hangouts on the dips buy for day trades. The one that followed did well.
  • $QIHU $BITA $BIDU this was a short ideas given to the group. Some followed and did make money. All done

Indices:

  1. $SPY majority of support is broken at this time. I only watch to day trades this one w/ my group
  2. $IBB $XBI majority of biotech traders are on panic & fear mode, start to see stopped taken out or sell quickly to protect their capital.
  3. $IWM support @ 108. resistance @114.

Biotech Trade ideas:

  • $RDUS 10% owner continues to buy the dip, last one filed for 100k shares @ $64. www.sec.gov/Archives/edgar/data/1428522/000089924315003871/xslF345X03/doc4.xml Stock closed down @ $57.04
  • $TTPH what a nice opportunity to dips some under $30 with data so close. Big tail on the daily candle chart
  • $MACK @ 9.21, another opportunity here if you can hold for their PDUFA in OCT
  • $FPRX nice above avg volumes. Saw some decent size going through. Chart starting to look nice. PT $21-23
  • $CLDX @ 12.91, i expect to see a major pop back here. Way oversold at this point

NonBiotech ideas:

  • $FB looks to jump back in on calls after clear the $83 level
  • $SCTY Elon Musk load up shares after after Jim Chanos short attack last Friday. Look for short to covered and join in w/ Musk. I like it for Long term. Support $37.5, resistance @ $48. Like for it to follow through tomorrow.

Final thoughts:

The inexperience traders would sit on the sidelines today & do nothing, but this volatile market is a huge money day. I traded off on charts pivot for day trades.. I alert some very nice plays. If you are open to trade on both side of the market. The opportunities to make money limitless.

Cheers.

"Nothing is a waste of time if you use the experience wisely. "-Auguste Rodin

Additional disclosure: These are my opinion ideas and not recommendation to buy or sell.