CAMARO’s Watchlist For 9/18/13
I certainly hope that you are aware of the event taking place tomorrow at 2:00PM EST. If not, we will hear from the Fed on whether or not they will taper and what the purchase rate will be cut down to. Most analysts are looking for a $10B-$15B cut so be aware of this going into that announcement. I believe anything under $10B the markets will rip very high but anything above $15B and we could see a very dramatic selloff. I believe market has priced in a low taper amount so anything above that could spook the markets. I am taking a VXX call spread into the event in anticipation for market volatility tomorrow.
AMZN - Broke above a bull flag today and closed at the highs of the day. AMZN is only about 3% off its highs now and I think as long as markets hold up that AMZN could see a move into new highs this week. Tomorrow watching for a move above 305, I believe the biggest move of the day will be in the opening hour and 308-309 would be my target for tomorrow on a prior high break.
FB - Following a 6.5% pullback off its highs the last 3 days FB pretty much regained all of those losses today posting a 6% gain and now only about .50c off its all-time highs. I do like it how it came back and tested prior breakout at 42 (hit 42 premarket) . Todays powerful engulfing bar should lead to new highs by the end of week, I dont think the overall market will affect FB’s action tomorrow.
BIDU - Holding in a bull flag on the daily today as it pulled back to its 8ma, and is still looking very strong as it has found support in previous 52w highs around 141.50. I like the long setup against that level OR on a break above 145.25 (view 60min to see the resistance)
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