C.O.I. For The Week Of 7.8.19

SPX.png

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.png

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.png

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

CRM.png

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.png

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

DBX.png

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.png

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.png

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.png

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.png

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.png

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.png

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.png

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

Z.png

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

Charles Chao