Hey everyone. For those of you who don’t know me from the chatroom, I’ve been trading for about 2 and a half years while working full time as an engineer and going to graduate school at night and after a lengthy trial and error process that resulted in many failures I took a break around mid 2012 and started up again in December 2012. Since then I have produced 1,800% in gains and do not plan on stopping any time soon. My goal is to ultimately make trading not only something I do to make money but also my career.
I specialize in mainly scalping and daytrading stocks with high momentum, volume (liquidity), and price action. Be it penny stocks or big boards, if there’s a high percentage play with a good risk/reward setup I’m there. So enough with the boring life story, here are some of the stocks that I’m watching this week and my thoughts on them.
FB: FB has made an epic move since earnings from about $26 to $42 for a staggering 62% gain and making Mark Zuckerberg very wealthy in the process, however $42 proved to be a big resistance as that was the IPO open price. Today’s drop was on the highest volume on a red day since 7/31/13 when FB also had a large range of near $2. Today a key level of $39.75-$39.88 was breached and tomorrow, barring news, I would expect a downtrend towards $39.25 and then $39.00 even. Should $39.00 be breached there’s a gap fill at $39.85 that could be tested. I would definitely remain short-biased on FB as long as it does not break the $40.30-$40.40 area.
TSLA: One of the bright lights in an otherwise dim market today, TSLA was able to fend off a late day pullback again and close strong on a nice reversal in the positive direction. I would definitely remain short-biased should TSLA fail to break $169 and long-biased on a hold of $163-$164.
Other Stocks I have on watch:
MSFT: Still continuing its fade off that $35.35 high, a breach of today’s low of $33.15 will see it eventually test $32.30-$32.50 sometime this week if not tomorrow. Needs to regain $34.00 to be bullish again.
NFLX: $271 is a must hold for it to test $280s again or else a fade to $268s is in order.
See you guys in the chatroom!
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