Tuesday, February 18, 2020

Overall Market Analysis

• Markets generally printed inside days, except the Dow, which found support at the 8DEMA
• Volume still appears to be bearishly diverging from price.
• MACD could create a bearish divergence.
• Price continues to hold the 8DEMA

• Small caps have a more defined MACD divergence and volume divergence.
• The SPX is still finding resistance right at the close level (3381).  Cautiously bullish that we will break out of this range to the upside.

Open Positions

• BYND (2/3rds)
• Strong close Friday.  Reclaimed upper wave, and 8DEMA.  Signs of MACD starting to reverse (potential higher low) Stop: $108

• LK
• This is an @AOTtrades position.
• Continues to coil and print inside days.  Very quiet volume. 
• MACD cross imminent. 
• Holding 8/21DEMA.
•  

• SPXU & VXX
• Holding this hedge.  The SPY could drop 2% to the upper wave range and still be very strong.  

• TSLA
• This is was an @AOTtrades position. He stopped out around $800.
• Still digesting $800.  Released some positive news over the weekend (longer ranges already installed on newer cars) 
• volume pause/refresh
• Stop: $730 (Target $910)

• INMD
• Looks like I tried to front run @AOTtrades on this one, but he didn't take it.  It's a problem below 42.60.
• Bullish: printing inside days and quiet volume.  Hasn't broken down yet.  Could create a higher-high on MACD.
• Bearish: $42.50 would probably be the end for a while.
• Meh.  Holding.  (Is there weekend news? Showing it bid up to $45 on Saturday?

• CVX
• Short via one call option.  Caught it failing at the 21DEMA. 
• MACD starting to roll over.
• Selling associated with getting the dividend and then getting out?

• SHOP Short Vert. Spread
• This is a nonsensical lost trade.  Try to recoup anything if possible. It expires 20 MAR (470/480 spread)
• The only hope is the earnings gap closed low (not a PEG) and Thursdays action failed to meet the thrust of Wednesday.   Maybe a quick gap fill to 500 would get me out respectably.  would have to close there on the round number.   

• TLRY Call
• More options nonsense.  Expires next week. 21 Feb 21.5 Call.  A miracle reversal off 16 here would be welcome, but not likely to save this one. 

• TRIL
• $370 worth of stock.  Assuming it's pausing here and will bounce off the 50DEMA. If not, may just hold and let it ride for fun. 

New On Deck

• SO
• Good return to 21DEMA for a swing trade.  
• Inside day. 
• Good volume.
• Need to snipe entry on lower timeframe

• EFX
• Strong inside day Friday.  Could look to snipe an entry on lower timeframes.  
• CC
• PEG, look for good entries or return to 21DEMA
• DLTR
• Look for breakout above $89.60 for new phase.
• GDDY
• PEG, look for good entries or return to 21DEMA
• NVTA
• Watch for swing opportunity
• OXY
• Look for breakout above $42.50 to start new phase
• WORK
• Look for swing opportunity 
• CAG
• Trying to hold above $32 and could breakout above $32.75 ish.  Probably needs a few more days. 
• Ideally the 50DEMA would catch up to $32
• MACD cross would be ideal
• Bought @ 32.66
• CTXS
• Watching for behavior at 121-124.  Would like to see the MACD turn and volume pick up. 
• Waiting....macd and volume concerns.
• Volume might be just pausing, but MACD can't catch a break. 
• CVX 
• A tempting short.  Below 112 and breaking down around 111. 
• March ATM puts are ~2.37
• Volume pattern is good (divergance)
• Would like to see MACD start to turn.
• Bought 1 20 Mar 20 @2.15

Execution

Got in a hurry and didn't try to snipe best prices from intraday charts

Also, hurrying because of meetings, traded within first 30-minutes of the day.