Josh WL For 8/19/24

by | Aug 17, 2024

Lots of shorts caught off guard this week imo otherwise you don’t see ASTS and CING and the hold of LUMN and the 7 days or so of the QQQ grind each day. Many wanted a reversion myself included so it’s important to remember that the markets have no interest in the wants of the individual. For me the intermediate long is a bit extended here and would exercise caution.

SOXL- will watch ideally 42 blowout and sit back

NVDA- would love to see a move up to 128 area for a potential reversion, name has reclaimed its strength and is nothing to fight, only interested in market weakness, only interested in using it as a vehicle in that weakness.

LUMN- ideally they blow people out, i think many underestimate how well companies ridden with debt or growth stories can hold up when the market indices do this, if 6.50-7 reclaim would just wait for backside to be short whether that be 9 or 13 nobody will ever know. No rush here

AMD- will use the day NVDA has weakness for ss

BABA- like the r/s here will be looking dips to buy this week

PYPL- nice trender here wouldn’t be surprised to see 75-80+


ASTS- going to see how this Thursday high holds on for this week , story stock mania currently here with a 20% short float. Always go further than you think. nearly always

TEM- s/o to Russel Valenti for putting this on my radar AI/ IPO with momentum, ideally a blowoff at some point but for now pure strength , lower volume name

NU- liking all dips vs 12.50-13 for continuation

ONON- watching trend join post 945-10am

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