Bear trap inbound?
First off, congratulations on making it to the final month of 2020. It has been quite a year in many regards, including the markets. If you’ve traded this year’s market, I’d say you’ve gained at least 5 years worth of experience and lessons. December started of with a bang, as $NQ_F shot up 1.43% and pulled the rest of the market with it. We could see a bear trap tomorrow, so be on your toes!
It was a nice day for the set ups posted yesterday, and also another great day in the trading group. $DIS runners hit 130% in the morning and we opened $RKT and $WMT calls at some nice entry points. There should be some great buying opportunities tomorrow, so be ready!
*DISCLAIMER: Not financial advice. I am not a certified financial advisor. The ideas shown in this newsletter are representative of my personal opinions and should not be interpreted as a buy or sell signal. Always do your own proper research and understand the risk before making an investment*
$AMD Long: Passed, Still developing
$NFLX Long: Passed, Gapped above entry level and ran for a 3.5% move
$RKT Long: Open, dropped right into the buy zone towards the end of the day. I have a position open and am very optimistic for tomorrow
12/02 Set Ups:
I’m looking for a bear trap here. We should fall overnight and tag the 3624 range towards tomorrow’s open. I will be looking to go long here for a nice rip to 3700. Invalid below 3592
This looks like a 1,2 combo off the recent low. I will be watching for a strong rebound tomorrow, possibly even an attempt to fill the gap above.
$WKHS fell hard after hours today (dropped to around $21) on the news of the USPS contract delay. Depending on where it opens, it could be a great buy the dip situation. I’m looking to take a long entry upon signs of a bullish reversal. The count is invalidated at $19.20
Looks like a 1,2-1,2 set up on $ZM. I will be looking to enter long early tomorrow. Count invalidated at $374
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