C.O.I. For The Week Of 7.15.19


SPX: Divergence is building in the RSI 5. The 3000 mark is proving difficult. We believe upside is limited here before a pullback occurs. We are currently watching for a top Below 2963 will trigger a buy of SPXU (3x short SPY) If we topped today, our target is 2865. If we continue higher first, we'll update our target.


CRSP: We are down to just a 1/4 size on out long calls. We're going for 54. However, if we get a dip to the 50sma first, we'll add some calls back.


GOOGL: Though it closed above the 200sma, it still looks like a B-wave retrace. We're still watching for a break of the uptrend line to trigger a short.


QD: Continues to hold the uptrend line. We are still holding 1/2 common and 1/2 call positions with a $10 target. A close below the uptrend line first, and we will sell.


SNAP: Continues to reach for our 17 target. We did sell 1/3 position on Thursday's run up to 17. We also sold August 17 calls against our remaining position. Give Friday's candle, we could have a little pullback, before we finally get our target.


ROKU: We may be a bit early, but we went short this name on Thursday via puts. Though it has not broken any trend lines yet, We do believe it has completed 5 waves up and is currently in a B-wave retrace. We like risk/reward of this play. Stop is above year highs at 109. While our target is 68.

Charles Chao