Today’s newsletter covers 3 topics:
My plan for tomorrow
A couple of stocks I like here
Let me know if there are any questions on Twitter or in comments below. This is the last plan for the week, Weekly plan may be issued on Saturday followed by other stuff.
Here is a copy of trade plan for those new to this: Older Plan, Sell Comes
I was bearish coming into the session today and I thought rallies into 4711-4717 may be sold.
This is exactly what happened with 4716 being session high at time of this post before selling down about 50 points.
We sold down into my weekly targets and support and then found buyers to bid all the way up to 4710. See this link to read weekly plan if you have not already done so: My Weekly Thoughts , Bear target met
4717 actually was a very nice level today in terms of risk/rewards ratio.
On individual stock side, my pick Facebook did very well, at one point rising from 323 all the way to 338 in session. I like this stock quite a bit and continue to hold it.
I was bearish again, 3rd day in a row on TSLA and the stock sold off some more from my 1080. Tesla becomes attractive for me around 980/1004 level. Now 1050.
I got bullish on energy stocks last week and they continue to do very well. XOM from 60 to 68, CVX from 118 to 123.
My Plan for tomorrow:
We are kind of in a weird spot here. At time of this post S&P500 is at 4695 which though above 4660 is below 4711. This is what makes it a bit harder to make a sense of for me personally. However, I have the following couple price scenarios for tomorrow, dependent on nightly action and where we open for cash session in the AM. I will gain further clarity AFTER watching the overnight Asian opening as well as Europe orderflow..