CAMARO’s Watchlist for 10/21/13
SOHU - After catching a huge breakout a few weeks ago SOHU went on a tear ripping from 60s up to a high at 87.29 in a few weeks. Well now SOHU is right under 52w highs and with the huge moves in similar names like QIHU BIDU and SINA I believe that SOHU will provide a move into new highs this week. I like the Monthly 90x calls for a swing into the 90s this week.
DIS - Looks ready for a multi-month channel breakout. A small bull flag broke out on friday which could be the catalyst to launch DIS into new highs. I like idea of buying a monthly call spread using a wide spread like the 65/70 vertical with 70$ being the target zone.
TRIP - If your a bear on this market, your probably not having a great time in this past week but I do think if you spot the right patterns there are some good short plays. Example last week was GMCR’s bear flag that provided a huge selloff before reversing on Friday (which by the way we highlighted the two-way trade). Anyways TRIP has a ‘h’ pattern which is a type of bear flag. It also has a big gap it hasnt filled down at 60$. Watch this week for a break under the bear flag (70.50) . and then it needs to form another bear flag formation at the lows of the gap left in the end of July right around 68.60ish.
TSLA - In a bull flag on daily chart, after expierencing a huge selloff from 195 down to 160 but now is right back up trading just 11$ off its all-time high and looks like its going to actually take out those highs soon. Short interest actually decreased during the large TSLA pullback which is very bullish to me because this shows shorts are giving up and either going to try shorting again at higher prices or they are switching to the long side in anticipation of more highs into year end. Short term watch for a move above 187 to get this bull flag breaking out . Target this week is 200.
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