Daily Plan 4/21 '21
A tremendous day for the orderflow today as many of my calls came to fruition from yesterday.
Starting with the SPY, S&P500 side, Scenario 2 was in play. The entire cash and Globex session was capped by my 4480.
We sold down quickly into 4450 at which point I alerted my Telegram to the following text. This was pretty much the low of the day. Was tested many times in the day for multiple bounces off it. At one point retracing all the way back to overnight highs and then finding sellers again. Great bracket between my levels all day today!
I have a lot of impostors. Beware: I will never ever text you one on one. If some one does, report and block them ASAP!
I was also bearish on NFLX last night before the ER . Netflix got decimated today, losing about a third of it’s value. Dropping from 350 to 220. I was NOT too keen on it even at 260 and we saw another 15% or so shaved off 260.
TSLA was another victim of the bearish sentiment, in sympathy with NFLX, it dropped about 50 points off my 1030. I wanted more selling. However 980 proved to be too much of a support, and the stock then rallied back up above 1000, now awaiting the ER and Musk conference. I do suspect the stock and Emini on any bounce may get sold due to general market conditions, though I like the stock on deeper pullbacks into 900.
Many of my other recent calls did very well. For example.. UNH , a clean bounce. JPM, a good bounce off my 126. Airlines and hotels which I have been bullish on due to their price gauging did very well-like UAL and MAR both of them I shared here in substack. Many more winners like CVS.
A lot of calls I make are not 0DTE. They are well thought out and are longer time frame.
For instance, I got bullish on CAR AVIS at 260. I was trolled quite a bit on CAR as the stock bounced around in a tight range. Today is finally broke out and is now trading 320 dollars +. Almost up 20%+. Patience is a great virtue.
Tomorrow, looking at the earnings calendar, it is quite thin. However I like the airlines like AAL. Why do I like it? Because I think they are complicit in price gauging with other big airlines. If UAL can do well, I think AAL can also do well. The stock is now trading at 19 dollars .
Chart A: Emini below.
SNAP stock also reports earnings tomorrow.
SNAP chart B below looks quite weak IMO. I think if it manages a bounce into 33/34 it may find it hard to hold on to those gains. I think the stock may find some balance at 25/26.
What do you think, is SNAP a good buy here at 31 or should I wait?
Emini auction has become frustrating for the bears. In the night time, we bounced strongly off 4432. In day time we could not quite take out 4450 LIS. I think this is though just a matter of time before both these levels break and expose some downside.
It is now trading at 4470. While impressive won by the bulls, they also have some over head resistance at 4500. Having said this, for tomorrow my thoughts and levels are listed below:
I am waiting for some of these downside levels to break patiently as I am a mid term bear. Short term I have been trading on both sides, intraday.
While these levels break, I think the key LIS for tomorrow could be 4450.
As long as we remain bid or open above 4450, the market may be supported and could have a tendency to test 4486/4490.
If 4450 were to be offered or if we opened below it, then I think 4412 orderflow level is at play.
Personally, intermediate time frame, I prefer a retest of 4250/4300 for me to get into some of the mega caps. Till then I am in wait and watch mode as long as these names go.
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Be back with much more later. This is the earnings season! Lots of movement- both up and down!
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