CAMARO’s Watchlist for 12/4/13
FB - Held up the last 3 days while the market started to dip. FB is one of the few stocks that didn’t rally with the market the past few weeks. I think FB is on sale right now under 50 in a longer term perspective. For short term however, I am expecting FB to breakout above 47 with power and see a nice push up to 49s this week. I am long FB using Dec monthly 45x calls that I bought last week.
IBM - I am expecting more downside tomorrow morning here however I want to use any morning weakness as a buying opportunity. I like the fact that volume has increased over the last month as it trades under 185, to me this is showing that buyers are stepping in. If IBM drops into the 173ish level I want to buy some Dec monthly 180x callsfor swing type play. Essentially I wanna get long against 52w lows.
AMGN - Tomorrow AMGN could snap a long term uptrend line, many of the biotech names look to be rolling over and AMGN to me is a very compelling short setup. A break under todays LOD will open the door for a nice drop down to 110 tomorrow. I like the 115x weekly puts.
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