Watch List for 03/21/18 from Alex

 

Saturday Morning Blog #2: Shorting Parabolic Moves, Timing for Size, Being Exhausted, Minimum Capital Needed. 

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FB: Glad to see a gap down after the power close yesterday. Today is day 3 of red and the stock is down nearly $20 in 3 days. Im VERY interested in a weak open wash to $165.00-$165.50s for a bounce back up to $170.00+ near term. I think they present in front of a committee today (not sure what time) so that might help it.

TWTR: SMOKED yesterday. I guess people finally caught on that if FB is fuckin up TWTR might be the next on the chopping block.  SSR is  on so I’m more interested in the bounce rather than the short here. I would be looking to use r/g ($31.35) as the guide in the morning for the rebound.

CALI: Gapping up pre market. $4.69 is the level on the daily chart to keep an eye on. Really hope we get another 2 days of exhaustion and then can look for the short setup. Im eyeing a push on $5-$6 in the coming days to get interested. Not my style but a long risking r/g might work as well.

GOOG/GOOGL: Clobbered lately in sympathy to FB. If FB finally catches a big bid today after the morning emotion I would expect this to rebound with it.

VXX: Almost 7 straight red days from SPY has me thinking the FOMC fear is already priced in. Will look to short pops on this AFTER 2pm if I’m right. I think SPY rips hard today after FOMC. We will see.