$F | LONG TRADEEntered $F today. See chart for more details regarding specifics of the setup and trade! Goodluck!
Calls
$WMT | LONG POSITIONSee chart for details. Breakdown of what I'm seeing there. Good luck and trade safe!
SPY Not Showing StrengthAMEX:SPY
Yesterday I posted some trendlines for SPY that ended getting bought up in the morning. Today we are checking in with reality to see if the overall outlook is as bad as it seems. I'll be following these lines closely as well as our Lag RSi since we are showing overall weakness and further downside is very possible.
$PLTR | ENTRY POSITIONToday, I entered PLTR calls on the break of key $27.5 level. As long as we can hold over that level, we are in breakout mode! This has been an insanely frustrating stock and needed patience. Please note the bullish inverse head and shoulder pattern shown as well.
Targets to the upside are: $29.45, $30.5, $31.27 and $33.5
Good luck and hope this helps!
PENN Trading PENN with some calls here. I am betting it will bounce of strong support with football season starting.
$SPY Reversal Swinging 9/17 calls here. Stop below the previous month's VPOC. I wanted 453.5 for entry but never came. Looks to be a reversal .
Quad witching this week, will most likely close in a day or two.. target 458
$PYPL | WEEKLY WATCHLIST 9/13Playing out perfectly and as anticipated with this wave 2 pullback. We banked on calls on the wave 1 move and have secured profits since. Watching the $273-278 for strength and buyers to step in, setting up for a great dip buy and swing contender.
$PINS | WEEKLY WATCHLIST 9/13I suspect we may try testing the 78.6% retracement based off of last Friday's weak price action. Very solid swing setup as long as the fibonacci box holds, otherwise further correcting will be needed. Patience and waiting for confirmation for me on this one before entering. Can see a nice impulsive move to $61 (bottom of unfilled Daily gap) if buyers step in.
$DKNG | WEEKLY WATCHLIST 9/13Last time I posted about DKNG, I said we would come up to hit the 161.8% extension and we hit that nearly perfectly last week. Looking for wave 4 pullback/consolidation to take place before pushing for a fifth wave higher. Pennant and path shown is just a guess-timate, please take it with a grain of salt. Let's see if this plays out!
$AAPL | WEEKLY WATCHLIST 9/13Watching for a pullback and hold of the fibonacci retracement zone I have drawn out before going long again. If golden pocket (61.8-65%) doesn't hold here, looking for the 78.6% to hold at $147. That level also coincides near major uptrend support.
Market Alpha - AMCNYSE:AMC
I actually think this one is going to go higher again... View the historical price action at this trend level. Let me know what you think!
Market Alpha Watchlist - ANYNASDAQ:ANY
This stock just recently did a direct offering to fund the purchase of cyrpto mining tools. That looked like it was going to bite them in the butt yesterday but with the flash sale and subsequent recovery, ANY might be a good choice as long as their is no funny business in regards to stock manipulation. Buyers are here and are interested in this stock.
My conviction on this stock comes from the option chain where we saw massive option buying take place yesterday on the call side.
$AMZN | TRADE IDEAWith markets looking really shaky into close today, Amazon looks like a prime contender for a pullback. Lines up nicely with the daily reversal candle and anticipated EWT wave 2 pullback. As long as the high holds here, expecting a move down to my fibonacci box zone shown. Be cautious if you're long.
$AAPL | WEEKLY WATCHLIST (Update)My target of $155 nearly hitting today! Congrats to all who played the upside move with me. Looking for a nice dip before entering for another push higher. Patience here.
$TSLA | WEEKLY WATCHLISTTesla possible we put in a smaller degree wave 4 last week and consolidating for a final push higher to my $725 target. We should see a nice dip from there that will be very buyable. Expecting a major push upwards from there. As long as $695 holds, this count is valid!
$PYPL | WEEKLY WATCHLISTBasing very nicely after quite the pullback from the highs which looks healthy. This week, we can potentially see PayPal confirm upside if we can break above key resistance level shown. Looking for an impulsive move up to the $285-288 region. My fractal is denoted in the light blue candle pattern and lines up with my bullish thesis nicely. Just something to note.
$DKNG | WEEKLY WATCHLISTAmazing setup for the week showing lots of strength. Ideally really want a dip early in the week for an opportunity to get in at a lower price. However, that may not happen. Looking for the $64-65 region to the upside before a larger pullback occurs which will also be buyable.
$BA | WEEKLY WATCHLISTLoving this setup going into the week, I entered a swing position last Friday near open. Already up in decent profit. As long as the lows hold around $216, we should expect an impulsive move up to the $230-231 region. Ultimately looking for $238-241 to completely take profits on my swing, but that may take a little longer.
$AMD | WEEKLY WATCHLISTBroke out of the bullish falling wedge pattern last week! Smaller ascending triangle formed end of the week and looking for continuation if we can break above! Very solid setup going into the week.
$PTON | Trade Idea (Post Earnings)Peleton reported earnings after hours today, Big dip. No description needed. Just yes.
$AAPL -- A look at two timeframes using Elliot WavesEven though my exact count may be wrong, the structure of these waves has me feeling pretty confident about $AAPL's upcoming price action. Strong buy at 145. September monthlies, ATM and ITM should print.
Let's see how it plays out...
Sincerely,
Your best stock buddy in the whole world,
Patrick.
$DKNG | Trade IdeaLooking to buy any significant dip on DKNG as long as the $56 level holds. This is a KEY pivot level. A couple different ways to count this chart, a bit more complex so will be patient and wait for my pullback. Regardless, looking for target around $64-65 as long as $56 holds.
