Happy Halloween!
Another Spy All Time High on Friday To Close The Month! Spy might be setting up for a nice run coming.
This blog I decided to also include the monthly charts for the new ideas which often times traders overlook,.. myself included. The reason why I want to show monthly charts also is for a few different reasons.
A breakout on the Monthly timeframe has a much much bigger impact. Case in point LuLu lol. The monthly was just as on point as the weekly and daily charts were. Not to keep bringing Lulu up but I had a target of 445. I think I have traded LuLu for 2 weeks straight, both day trading and swing trading and when I thought it could use a cool down it ran like it was gunning for first place in a marathon on Friday. Hitting a high of 467.04. Absolutely crazy past couple of weeks for Lulu. Day traded them again on Friday. Saw they had got a big upgrade. Watched the 10 minute chart and followed my Emas and day traded it. Although very risky being it has ran so much without hardly taking a breath and also very risky if you day trade anything with same week expiration. But I watched it and jumped in, and also thought that it was more than likely being heavily shorted with that big run and on a Friday at that. So I thought maybe the market would keep it propped to kill the shorts and it did. Kind of how you have to think about the market sometimes because the market is going to do whatever it can to win the most so if it is being heavily shorted they will more than likely pin it higher for the day. I also wanted to bring Lulu up because I don’t want anyone reading this to make some mistakes that I’ve made in the past. Whatever mistakes you make I hope you analyze what went wrong because if you don’t you will keep making them. Did we cut it too early? Yes. But profit is profit. Should we have left a runner? Yes. But profit is profit. That trade showed you not to forget about the monthly time frame and it also could have very well shown you not to chase. Worked out for me but I was staring at the chart the whole time and I was quick. … If you see a stock take off like Lulu out of the gate,… do not chase it unless you are staring at the chart and have an exit plan. With a run like that, a reversal and cool down is definitely coming and you’ll be trapped. Also an upgrade doesn’t always mean a stock will fly that day. Plenty of times an upgrade comes out and a stock is deep red on the day. You have to think like an analyst sometimes. If an upgrade comes out maybe they are looking to get out of the stock so they use the upgrade to sell on the next pop and then trap all the people that just got long on seeing the upgrade price come out. And sometimes it does run. They use the upgrade for a stock to break out of consolidating or for it to keep running after you think there is no way it can keep going. Which then traps people who are short on the stock. Just want to give you some other ways to think about the market and hopefully it helps. Also the tickers and ideas I put on here I both day trade and swing them depending on the set up and how a ticker moves. So if a ticker is like Lulu, Fb, nflx, Tsla etc and it is a mover they make for great day trades. If it is slow like Dis or ual or blnk I swing with 2 or more weeks out. I also start small with them so I can add in. But back to why I added monthly charts …
An even better example of a monthly breakout is Lcid. Been consolidating since February as it put in a flag pattern on the Monthly and then 💥 broke out of the flag last week with a massive move.
I don’t want to bombard you with charts of things you weren’t in. I just want you to be aware to keep a check on monthly charts as well. And also to remind myself. I started this blog for fun and to help out and share some ideas. And hopefully I can save some of you from some mistakes I’ve made also. It is important to learn from where you went wrong and like I said previously never to follow anyone blindly. If you do and the trade doesn’t pan out it is on you, not on them. Also look at your winners and what you did right so you can keep doing it. Passing off a winner as a winner and just being happy you won and moving on isn’t going to end well in the long run. If you don’t know what worked the last time and you just jump in trade after trade expecting the same thing to happen it isn’t going to. But anyway this has been a lot of text and little charts so let me put out some more ideas for you guys/girls.
Some Swing Ideas
I’ll show 4 new ideas, but also remember some of what I put out previously is still in play.
Gs, Docs, Dis, Ual, Apps, Ai, Blnk, and Se
Gs - Hanging around trend line. Came down a little then bounced off the 9ema.
Docs - Also close to testing trend line.
Dis - Being pinned down and hanging on for dear life in the channel it is in but still in tact. Might be waiting on a news release or earnings report to move.
Ual - Bounced off lower trend line. Very very slow mover but usually that sets up for a bigger move.
Apps - Retesting trend line break out. Also put in an inside day on Friday but careful with earnings this week.
Ai - Holding around mid band on the daily. Still possible it revisits bottom band. Getting tighter.
Blnk - Big week for Blnk. Big Friday move. I think this thing is just getting started. Look at the monthly. …
Se - Even with that decent drop on Friday this is still in play. However under my zero line Ema on the daily but it is over top trend line. Just came down for a retest so far and bounced right off the cloud again.
New Ideas -
Clx- Pandemic happens and Clx did nothing but climb. Finally hit a peak and all it has been doing for months is falling. Do we not use Clorox products anymore? lol .. Daily it is over my zero line Ema and into the cloud. Weekly it is about to cross the zero line and monthly it is also right on the zero line Ema. I’m thinking there is a very big move coming and naturally lines up with its earnings report which is tomorrow after hours. Wouldn’t suggest trading it into earnings because I never recommend that. However after the report and based on the reaction and I would get in as long as it hasn’t already ran too much.
Ge - Had a very big earnings beat this week. With the consolidation on the daily and the weekly and just under the trend line on the monthly I think this one is going to be an upwards mover.
Nio - Tsla has been a monster. Lcid had a monster week. Time for Nio? Tight consolidating on the weekly. Tight on the monthly. Something going to happen soon. I’m thinking it goes up.
Fsr - Had a good week and is not only above the zero ema on the daily but also above top band. But I don’t think it is done. The weekly has just crossed over the zero ema and the monthly is right at the zero ema line also. Also puts it right up against a trend line resistance. Through that and we may see a Lcid type move. Ev’s are hot! Also put in an inside day on Friday.
Inside Trade Ideas for Tomorrow Because Why Not
De - Calls over 349.36 / Puts under 340.55
Stz (double inside day) - Calls over 217.70 / Puts under 215.15
Yum - Calls over 125.99 / Puts under 123.71
Mchp - Calls over 74.81 / Puts under 73.58
Earnings This Week
That’s all I got until Thursday. Thank you for checking me out. Happy Halloween!🎃 👻