Daily Plan 10/20 '22

Traders-

A great day for OrderFlow and the levels as I had shared slightly bearish tinted plan last night and called for 3760 to be my key level. I had felt the mega caps had shown some trappy moves and I did not have much confidence in either TSLA or AAPL yesterday.

Look a lot of folks have been chasing TSLA calls , what like last 4 quarters now. What has TSLA done immediately after the earnings? Eat all the fat premiums. It does not move much. Why was this time gonna be different? I think a larger TSLA move may come next Quarter earnings. We may be talking about a 12-13% move but more on that later. Subscribe below to be the first to read all about it.

Emini Daily

You can see link to the plan here.

3760 was almost the high of the night with very little activity above it.

During the day, I had called for 3740 to be a key intraday level for the cash session.

This was indeed the high of the session before we sold down some 80 handles into almost 3670.

It is here that I called for this to be probable support if the bond auction went ok. 3675 or so was indeed the low of the day before we rallied back almost 50 points to 3720.

In my weekly plan, while I was a NFLX bull at 230 (it went up to 280), I was actually not very keen on TSLA.

Though the stock floated up to 222-225, I called this to be a key range at the earnings.

Lo and behold, while many claimed that the stock may rally, like NFLX did, it ended up crashing more than 6 % after the earnings. As I noted, all these pumps by the CEO are just not working. It is a shame that he can still get away with this manipulation of one of the largest S&P500 companies.

At end of the day, a good day for the OrderFlow. This was also after I issued some tweets that today most folks will be in calls on heels of this NFLX earnings and I turned out to be right in my observation.

Check my weekly plan here.

This proliferation of gurus and the outright manipulation by the C suite as well as the wonky & choppy nature of the market makes it harder for folks to remain focused and disciplined on the tape. Even today we saw this. Folks were bearish on NFLX yesterday and were bullish on TSLA today. Not a good sight.

In some other news we saw a complete collapse of GNRC, the stock lost a quarter of it’s value today to a low of 110 dollars. I became a bear around 200 on this here in the letter and the stock has been going down since to culminate in this monster move down today.

My key level for tomorrow:

My key level for tomorrow will be 3670.

Scenario 1: if we open and close the IB above 3670 tomorrow, I am personally expecting a retest of 3730 at some point. A close then above 3730 may target 3750.

Scenario 2: An IB close below 3670 could target 3620-3630 OrderFlow levels.

We last traded around 3690 at time of this blog.

SNAP

With SNAP, I will be watching 10 dollar LIS. Now about 10.8.

SNAP

I think as long as 10 LIS holds, I will imagine we could test a 13-14 dollar range again on this name.

~ Tic

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