Daily Plan 6/2/23
Folks -
Where to even start?
But I will start with CVNA as most recent big mover off my plan last night.
This stock was up about 25% in one session! Massive, massive moves!
And this is not the only one!
Few more, which were shared last few days alone:
CHWY shared this AM only in the chat room. Good move after I posted the level.
BUD nice move off 53.
Chinese stock VIPS UP 5%!
Uranium name CCJ up more than 10%!
TTD is now up 20% off that 60 area.
Solar sympathy player ENPH is up 20% off those 150 handles!
TESLA from 196 to 206! In one day!
NEM massive massive move off that 40 level!
Oil- a large move on that 67 levels. Read on more on my thoughts about oil.
Most if not all of these are from this week alone.
There are many more, too many to list here. But you can read the past few day’s plans.
If you do not have chat room access, see below.
Levels for tomorrow
Oil
67 level was shared by me many weeks ago as a potential support level. We saw about 400 pip move today.
OPEC in my opinion (IMO) wants a higher price for oil- that bit is obvious. But the world around us is slowing down, which may mean lower oil demand. Regardless, I think due to many many factors, I think 67-70 is some sort of natural cushion for oil. 67 could be a good level, and oil may remain supported between here and the 90s.
There are a tremendous amount of smaller cap ideas I think that are setting up, but I will be sharing those over the weekend sometime. Stay tuned! If you have not yet, upgrade to the paid account as I am sharing MORE AND MORE shorter-term views (often every day) now powered by option flows analysis. This means the price is super low right now, and I am not too happy about it. When the next guy charges 300 for the same info, why should this blog be only worth 37?
Even if you do not want to subscribe because maybe you are happy paying 10X for the same info, share with traders like your self.
S&P500 level
Folks, my key level is 4200.
As always, I will share my context why. I think there was tremendous relief at the debt ceiling passing and those who could, got in today thinking it clears all the hurdles for the bulls now. I do not agree with it (longer term) but that is not relevant for day to day action.
So I think this market now needs to remain supported above 4200 for these new bulls to not panic.
Scenario 1: If we remain above 4200-4210, we could test 4250 now.
Scenario 2: If we open and remain below 4200, we may test 4150.
At the time of this post, we are trading 4230. Key NQ levels will be 14550 and 14440. You can read all about what I said about NQ 14550 being an immensely key level 2 days ago. We are now trading 14460 on NQ.
TGT
TGT has too much bearishness on this at the moment. My key LIS on this are 127-128. It may be able to trade 136-139 if it holds. It is now around 129.
My TSLA level
202-203.
If this holds, we may see 208-211. Now it is a 206. It is up 10 dollars from Tuesday level of 196.
CRM
CRM is a prime example of failure to launch. A lot of folks were bullish on it, but I was not. It is now 10 dollars below its price yesterday at 223.
My key level on this is 212.
I think if the general market softens below 4200 AND CRM remains below 212, we may see 200 tested. It is 213 right now.
Chinese stock level
Read weekly about VIPS.
On BABA, my key level is 183.
If it holds, we may see 190+. It is now 185.
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~ Tic
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