C.O.I. For The Week Of 7.8.19


SPX: Has broken out and heading for 3020, possibly 3100. We spent the week, reducing positions. We are now at 1/4 size. We'll continue selling on the way up, and we will not be adding any new long positions until a .50/.618 pullback occurs. Once a top is reached, we'll post pullback targets.


AMAT: We entered at our desired point on the pullback. We are now holding for a run to 50. Stop is a close below the red uptrend line.


BABA: Steady as she goes. We are still holding 1/4 for 225. Stop remains at entry.


CRM: Continues a trend of lower highs. That's fine as long as they are not lower lows. It will need to break 160 to get momentum. We've already cut 1/2 and our stop is a close below the 200sma.


CRSP: Is still a beautiful setup. Nice bull flag with a 54 target. We remain long a 1/2 position.


DBX: Another week of bullish consolidation. A move above 26 should get a move to 28. We are holding a 1/2 position. Stop at 24.30


GILD: Is consolidating over the 200sma. As long as it stays above, it's bullish. We remain long a 1/2 position and looking for 78. Stop is a close below the 200sma.


QD: Is firming up right at the red uptrend line. As long as it remains above, it's a bullish set up. We are long 1/2 common and 1/2 calls. We're still looking for 10, but a close below the red downtrend line and we will be stopped out.


SNAP: Beautiful breakout on Friday and a close above 15. That opens the door to 17. We remain long 1/2 call position, with a hedge in case the breakout fails.


TSLA: Did close above the red downtrend line, but we are giving this short a little more room. An intraday move above 242, and we are out. If the downtrend continues, we'll hold the short for 163/145


GOOGL: This looks like a classic B wave retrace. 50sma about to have a bearish cross under the 200sma as well. We are watching for a break below the red downtrend line to short this name. Target is new year lows.


TWTR: Is trying to break out of the triangle. It is our #1 new set up. However, we will not be buying any new longs until the market pulls back. But after the pullback, this is the first long setup on our list.


X: Continues to set up. After a market pullback, we will look to long above the red downtrend line.


Z: Still nothing to not like about Z. Bull flagging with a target at 55. We are long 1/3 position.

Charles Chao