LULU -¬†Talked about this one last night for potential bull flag break out and today it did pop to new 52w highs but failed to close near the HOD which isnt the worst thing to happen just wouldve been better had it closed closer to highs. Anyway it did show signs of strength today and I think tomorrow and rest of the week LULU will be a good trader as many retail names have been going strong as of late. Would look for entries around 81.15 on a dip or a break of 82.20 tomorrow. I like the 80 strike calls.
AMZN -¬†Was on the weekend watchlist and its still in tact as far as technicals go as it trades above its 8ma and puts in higher lows. I wanna see it break 270 tomorrow with volume.¬† There is pretty high OI on the 275 strike calls and I think we might see those go ITM before friday.
BIIB -¬†I think some of these biotech names could get a bounce tomorrow but BIIB in particular has held up very well as most the sector pulled back. Tomorrow I like BIIB for continuation and for a push into 52w highs. Id look for long entries near 229.50 or on a 234 breakout . The spread on the options can be pretty nasty so make sure you place orders at the bids or in between the bid/ask. Fight for your entries. You could pick the best stocks but if you have bad entries it doesnt matter.
Read the rest of my watchlist here
BIDU -¬†Really nice breakout into the earnings gap. Looking for follow through tomorrow into that 103 resistance. Would buy a gap down and look for a r/g move in first 15min of the day.
HLF -¬†Caught yet another squeeze today and with heavily shorted stocks getting squeezed for the past few weeks I see no reason by HLF can‚Äôt see a move possibly 60 in the next few days. HLF had a bull flag going into the close. It needs to hold above 49 tomorrow morning and break above 49.50 for that bull flag overnight to play out. I would go with 50 strike calls
LULU -¬†bull flag on the daily as the 8ma touched the candles today which can be a great timer to use when waiting for bull flags to get moving again. Needs to break through 81.50 to get 2nd leg. Measured move is to 83.50ish
YELP -¬†Holding well onto its earnings gap from few weeks ago and is wedging on the daily chart which could breakout to more upside this week. Its a pretty heavily shorted stock which have been great runners recently like SCTY TSLA FSLR etc‚Ä¶ and YELP could see a similiar type move. Im watching for a break above 31.30 to get involved and I will be trading the June 33 strike calls.
GS -¬†Looks prime to break 52w highs this week and then could be off to the races here.The last time GS break 52w highs was back in early Jan. and it went off on a multi-week rally and I think we could see the same thing this time around. The next resistance I see is 175 and I think we will be trading there by mid June. I am a short term trader though so I will be playing a 159 break using weekly 160 calls and I will sell into the parabolic move.
VZ -¬†Bull flag on the weekly chart that could get moving again this week. We just finished 2 weeks of consolidation and I doubt we see a 3rd. Needs to break above 53.67 for me to take a long position. Target is 55-56
MSFT -¬†Looking for a red/green move tomorrow. It has done a r/g move 4 days in a row so I am ready to trade it again tomorrow if this setup comes into play. I traded it this morning for a nice play. Tomorrow I still think we could 35 prints if the market is strong, but thats a big IF.
TSLA -¬†Doesnt matter what the market does here. On watch tomorrow TSLA to rip past 100. I am long some lotto calls on the 100 strike looking for another monster move tomorrow. Needs to get above 97.12 during the open.
Otherwise tomorrow honestly, I am planning on just sitting it out. Could see another inside day tomorrow and there isn‚Äôt a rule that says I must trade everyday. SPY made a huge move this week and tomorrow is monthly expiration and I have a feeling we are going to see SPY pin at 165.
Penny stock watchlist is here¬†http://www.thestockgarage.com/watchlist-for-51713/
More highs‚Ä¶.The key thing to this market rally has been the rotation between sectors. Over the weekend I talked about how if markets are gonna continue higher I believe that XLV and XLF is where we might find some momentum and judging by the big move they made so far this week I‚Äôd say it worked out nicely, but now that they have rallied big this week I think we will see another rotation back into technology or XLK. XLK has a bull flag on the daily that could breakout tomorrow as well as the fact its flagging right underneath 2012 highs. The key thing here is that it needs to get above 31.74 (september high) for these setups to come into play.
V -¬†Riding along the 8ma nicely and closed at the highs today and looks good for more upside tomorrow and possibly could see 185 by friday.¬† Support level at 181.40s so I want to see that level get bough tomorrow on any dips. If tech is gonna make a run I think V is going to a nice spot to be involved.
INTC -¬†I like this setup for a potential lotto play for thursday/friday. There is huge OI on the 25 strike calls and not that I would buy those calls I think we could see a move to 25 by friday. I would much rather trade the 24 strike calls. The technical setup here also is pretty nice as it went under its 8ma for only 1 day (yesterday) and then closed back above it today showing that the dip was bought and if it can get some extension above 24.25 tomorrow that 25 level might become more realistic for a EOW target.
MSFT -¬†Sticking with my technology thesis MSFT also is acting famously¬† as it quickly approaching new 52w highs and with big OI on the 34 strike calls expiring this week I think we could see a push through 34 and possibly touch 35 by friday.