CAMARO’s Watchlist for 9/11/13
FB - This stock has been an absolute tear for the last 2 weeks but now is stalling under its all-time high at 45. Although I much prefer being long strong stocks vs trying to short them I think FB is a good short candidate for the next few days, and heres why. FB hasn’t touched its 8day in 15 sessions. So on 8/19 was the last time FB touched its 8day moving average. (Thats a long time and very rare to see, even a stock like TSLA hasn’t seen that type of move. The longest streak TSLA had was 12days from 6/27-7/15). During that period FB has rallied 18% which again is a big move. I believe before FB can make new all-time highs it must first get a pullback, which would be healthy. I believe FB needs to backtest its recent breakout at 42 and I believe that area will also provide a good dip buying opportunity when it comes. So here are some levels that support that 42 level.
8sma = 42.56
FB IPO opening price = 42.05
Most recent breakout = 42
Fib Levels from its earnings gap to recent high 23.6% retracement is at 42
Fib Level from the low on 8/19 to recent high 38.2% retracement is at 42
BIDU - This stock has been holding in a really nice bull flag on the weekly chart and has been consolidating its recent 50pt run it made from the start of the July very well. I think BIDU is starting to get back into motion here and plan on getting a long position tomorrow. its right under 52w highs and as long as it can hold above 140 I think the bullish setup will lead us to new highs. Im going to look at monthly calls probably the 145x calls currently going for 1.40.
SCTY - Had a decent up day, closing up 22%. lol, just kidding. Crazy move today that provided lots of great intraday setups. I think the power of todays move will provide more upside tomorrow. Watch for intraday patterns like flags/wedges to play for a breakout. I think SCTY finds big resistance at 39-40.
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