CAMARO’s Watchlist for 1/23/14
CELG - Biotechs have been hot recently and should continue to be this year and so I was going through a list of them to find which one could be the next “to go” and I think I found it with CELG. The stock has been quietly consolidating on highs the last month and a half and is forming a really nice wedge pattern on the daily chart but this wedge will break tomorrow if CELG breaks above 171. I like the 170x calls going for 1.35 right now. I think new all-time highs in play this week which would be huge for the calls.
SPY - Markets have spent 2014 consolidating on highs which is very healthy. I came into the year with a short bias towards SPY and thought we would begin the year with early tax-selling but clearly a time correction has been the play, not a price correction. Either way, SPY is now setting up for a another big push perhaps starting tomorrow. After the close we saw some big moves in some big stocks and hopefully this gets some momo going in SPY. Today SPY gave us an inside bar so a break above todays high will be my trigger long with new all-time highs being my target. I like the 185x calls going for .25c
NFLX - Should be in play tomorrow after earnings gave the stock new all-time highs. Ill be scalping NFLX tomorrow for sure and expect a big daily range. Tough to predict where we go tomorrow so ill just stick with using a 3min and 15min to dictate trades.
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