- US equities opened and gaped up today, $DJIA slowly moved up to 600 points, but last hour of trading stocks market slowly bleed to closed red and $DJIA -200points.
- New home sales fall short, actual report 507k vs est 510k. Slow growth.
- Asia market sell-off continues made US investors/traders more nervous and panic
- $CL_F crude oil have it first rebound in a week, API weekly #s come out tonight with actual -7.300M vs est 1.900M. Still expect oil to be around 35-37/bl. Bearish.
- $GOLD looks to fall back to 1110. Bearish $GOLD
- The market is very weak, trade with caution on long side. At moment, i like to day trade (NYSE:DT) instead of swing trade (NYSE:ST). Too much fear, anxiety and panic from retailers. Still many problems with the macro economy.
- $CLDX came out strong up at one point 13%+, alert this trade in private at 13.40 yesterday. Nice profit for my group.
- $FB from previous blog, i like long on calls and we did followed through. Another good gains
- $CSIQ DT alert at 17.05, it pops to high of 18.58, we sold for DT play gains.
- $SPY was a huge winner here on puts. We saw resistance hit at 194.25 when market was up 200pts, we took the weekly 192P and $SPY drop like a rock to closed -200pts.
- $SPY at 187.27, R @ 190.15, S @ 184.50. Keep in mind, oversold can become more oversold. Most support can easily be broken due to market volatile and fear
- $IWM @ 109.69, it was a tell tale of market weakness all day. no major bounce
- $IBB $XBI-WOODSHED!
Trades ideas for tomorrow:
- $AMBA @ $87, like it for short to $80 or even to $70.
- $BABA like short via puts on this tomorrow if 67.5S fail or China continues weakness tonight
- $UVXY will be on day trade WL. R @ $72, S @$45. All depends on the market behave tomorrow. Good for volatility trade
- $TWTR This one will have non-stop rumors when market is up so be careful out there. Trade below IPO price at $26
- $PCLN like it short candidate via puts if fall below 1175 or hit resistance at 1210.
- $DUST look to test $35R
- SHORT BIAS on everything for now!
- $SRPT- FDA grants priority review ah, but with the weakness of biotech not interested at this point
- Hard to add any biotech swing positions at this point, either hold what you have or cut it. Im more interested day trades based on chart for now. Need M&A to get the sector happy again.
Extreme fear in the market at moment means its better to go short on day trades, any swing will bring more pain to your portfolio. Its a day trades market, hit and run. Protect your capital if you're inexperience trader or join trading with me.
Additional disclosure: These are just blog ideas not recommendation buy or sell. Do your DD before making any trades.