CAMARO’s Watchlist for 2/5/14
GOOG - If markets are weak tomorrow GOOG is a very appealing short setup to me, with todays inverted hammer candle & the fact it gave up its earnings gap in just 1 day. I think 1100 is going to act as a magnet for this week. Watch for a break under todays low for the trigger short. A gap down would also be very bearish for GOOG. The option prices are fairly high on GOOG so if I trade it I’ll be using a put spread. Probably the 1135/1130 put spread or go wider with 1135/1125 spread.
TSLA - Nice consolidation on highs the last few days while the markets had tanked. TSLA still has a very high short float and wont stay quiet for too much longer. I think tomorrow if TSLA can get above 179.50 that it will make a run into the 190s this week but would expect the all-time high at 194.50 to be big resistance.
WFC - Nice reversal candle today for WFC which is one of better looking bank stocks in terms of relative strength. I think it can see a nice bounce back to 46 this week as long as market bounce continues.
GILD - If the market bounce continues tomorrow I think we could see GILD push back to new all-time highs this week. This is one of the healthier stocks in the market and is a stand out in the bio-tech area. Watch for a move above 82.20. If it gets that break the chart is wide open to all-time high at 84.40
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