Sunday Brunch with Tic
Weekly thoughts 11/21/21
Good Morning Traders:
We are 5 weeks away from a brand new year. This was a great year for the US equities and setting up for a climactic finish in many names.
Here’s what is in my notes for subscribers today:
A) Briefly review last week’s plan and see how we did
B) S&P500 wrap up and next week’s plan
C) A look at some fresh names + earnings next week
D) Review recent Bitcoin and Crypto action
E) My thoughts on Russell failed breakout
As always, this post is not financial advice . I am sharing this post with my followers as a means of journaling my personal opinions and blogging.
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A) Briefly review last week’s plan and see how we did:
As always, I like to do a recap of prior session and outline what worked, what did not work.
Here is the link to last week’s plan if you have not already read it: Weekly Plan 11/14
Main themes from last week and results:
I was bearish on both PYPL at 215 and PLTR at 23 : both stocks now down more than 10% at 190 and ~ 21 respectively.
Chinese ETF KWEB and JD, BABA: I was bearish on BABA ~ 170 pre-earnings; the stock is now 140 bucks. I remain bullish on the Chinese ETF at 48 dollars, and I think JD is the better of all major Chinese stocks. I cannot be bullish BABA , unless it closed above 157 bucks which imo takes it to 203 dollars.
TSLA: I shared 990 as a potential low in TSLA and 1100 as potential HIGH for the weekly time frame. Both levels did very well!
NVDA, SQ and RBLX: I was bullish on all 3 at 300, 227 and 99 bucks respectively. The stocks are trading approximately at 340, 135 and 225 respectively. I am now a little concerned that RBLX is overextending here and will not hurt to release some steam!
I was bearish on AFRM at the start of the week at ~ 151. My target was 132. This target is almost achieved now. I think this stock looks to carve some sort of bottom between 128-132.
$TDOC: I was bullish at TDOC at 134 dollars with LIS at 131 bucks. This stock popped briefly and tried closing above 137, failed and is now sweeping the underside at 118 bucks. This coming after they just hosted an investor day on the 18th is quite bearish IMO. I will look to be short on this on any pops above 128-129 bucks. I think this stock wants to trade sub-100.
Regarding S&P500 Emini, my primary expectation was 4670 will hold any declines. This is indeed how it went and my other levels also provided some good action, though the weekly range at 55 points was extremely narrow.
B) S&P500 wrap up and next week’s plan:
S&P500 did not go anywhere for the 2nd week in a row. A breakout attempt was made at previous week’s highs at 4712 , which failed miserably. On the downside, S&P500 has found buyers consistently at 4660-4670 zone and is tightly coiling near 4700 big round number. I am expecting a large move out of this once balancing and holiday situation is resolved.