C.O.I. For The Week Of 6.24.19


SPX: Is at all-time highs. And there's no reason it can't go higher. We are now targeting 3021, with a possible overthrow to 3100 before a larger pullback. But given the extended levels of this market, There's also no reason the pullback can't begin at any time. So we're staying nimble here. We're in 1/2 cash. And we won't add aggressively until the pullback occurs.


AMD: We're now -6.2% in the red since our entry. Since this trade is not working like we thought, we are moving our stop up from our usual -15%, to a close below the uptrend line (in red), followed by a follow through day. If the trend line holds, we will remain in the trade, with our same upper targets. But we've definitely become more wary of this name.


AMRN: We entered this name on Thursday. Call buying coming in, so we like it for a quick trade. Target is 20.50. A move below the red trend line is our stop


BABA: We bought this name on Tuesday, after a close above the 200sma. It's already hit our first target of 170, where we took some profits. Next profit taking area is 177, then we go fo the pig prize at 225. Stop remains at -15% below entry.


CRM: We bought CRM on Wednesday after it got that intraday move above 153 we were looking for. 1st profit taking zone is 160, 2nd is 170, Then we go for the big prize at 183


DBX: We bought DBX on Friday. Big call buying coming in and a beautiful chart. It's above the 200sma and breaking out after a lengthy consolidation. 1st target 28. 2nd target 31.


EA: Continues to consolidate in this triangle. MACD shows positive divergence RSI5 giving a buy signal. And there has been bullish positioning in call buying. If this closes over the 200sma, we will go long for a swing. 1st target 112. 2nd target 121


QD: We recommended a buy around 7.50 on Wednesday. Hopefully some of you took it. This one continues to get call buying. And it looks good to at least 10. We'll take some profits there. But our ultimate target is 16.


SNAP: Had a consolidation week after its big run. We recommended selling the July 17 calls to protect a long position. We're nice and green on that hedge. We expect more consolidation before a run to 17, then 20.


Z: Is bull flagging beautifully up here. This is a chance at a secondary entry if you are interested in getting involved. We are down to a 1/2 position, but are still looking for a gap fill move to 55.

Charles Chao