CAMARO’s Watchlist for 8/15/13
SPY - Today was the first day in last week or so that the morning dip was not bought and reversed. I tried going long on the morning dip but it couldnt ever get off the lows so I got out my long. Today SPY sold off hard into the close and closed at the lod and looks like it could break a key support trend line tomorrow morning with the next support zone at 167.50-165.50 . Get ready for the next week or so as it starting to look like we could see another market pullback. I am looking to short SPY tomorrow on a break below 168.38 or a gap below 168.20
FB - Today FB closed on a very heavy looking candle as it tried to bounce this morning but was rejected hard then went on to close at the lows. There is very little support on FB til we get down around 34 so I like this name for a short play if the markets do see some weakness tomorrow. Needs prior low break to short then would look to target drop to 35.30ish tomorrow.
GS - Watching banks tomorrow as well for some weakness and GS in particular because GS has strong history of making violent moves to downside when markets get pressured. Needs to break under 162.90 in the opening 15min or so and I will trade the 165x puts for a move down towards 161.50ish . Dont go with the 160x imo, use ITM with GS on a thursday.
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