A new bear is born
Daily Plan 11.16.23
Hey-
A number of good calls from my recent posts.
MARA today rose more than 10% and the $10, January MOPEX calls were up about 110%.
Nice and firm rally in both BABA and PYPL from last night’s post.
Another 15% rally in VFC stock which I had called a bottom on earlier near 13. It is above 17 now.
We also saw good action in TGT, which I started bottom call at 100 and it was up about 20% today.
About 20% run in BUD stock, which I shared bottom call at 50 bucks.
All of these calls are subscriber only content.
On the Emini S&P500 side, my main call today was to see the range between those two levels which I started with folks right after the PPI. Very nice action between those two levels.
My levels for tomorrow
For the session, the main event is the VIX price action for me.
It has gapped up today. The unemployment claims are also quite important.
PLUG
These last few weeks of the year can see some interesting action as there are a lot of flows- which can create choppy conditions for most and trend in few others.
For instance, these renewable stocks have been clobbered of recent. They are in real bad shape. Now there are flows due to year end, due to short squeezes, to short float, some even due to President Xi visiting.
I personally not think tech analysis plays a major role during such year end flows. It is mostly positioning and context.
Let us say we look at PLUG which is now 4 or an ENPH. In such times, this 3.7-4 dollar area could play an important role and unless taken out, I feel it could support.
This is why I think if PLUG holds 4 area, it could flow up to 6+.
COIN
Long term readers know I am a COIN Bull from 60 area. Brian CEO has been an upright corporate citizen and has done a lot for the stock and it is now near 98.
This guy has added to brining legitimacy to this ecosystem, platform or broker, whatever you want to label it. With new ETF in crypto hitting the marker place, COIN gains influence.
This is why I am feeling positive towards COIN and I think it could seek support to trade up to 120-130+.
Readers should know the nature of these high beta stocks is that they rally hard with rally in main index and they fall harder when the main index falls. So their fortunes to a large extent are tied to the fortunes of the main index, unlike some of the lower beta ones like Oil and Gold names.
If you like my levels, I will ask that you support the publication. If you do not like it, let me know your feedback how to make it better. But it will not be a signal service. My aim is to share educational content in form of my personal journal and it will remain that.
On the emini side, I do not read much into this action from a longer term perspective.