C.O.I. For The Week Of 8.5.19


SPX: We got the pullback we were expecting and got paid large on SPXU and SQQQ. Now we are looking for a spot to long for the bounce. So far, the SPX held the .382 retrace at 2914. We'll be watching next week for buyers to step in. As soon as they do we will follow. If buyers show no interest, we could continue to fall to the uptrend line (thick red), which is also right around the .50 retrace. Whenever the bounce happens, it will be fast. So be ready to pull the trigger next week.


AMD: Held its .618 retrace, but it has lost the uptrend line. Given oversold levels, it should bounce soon. We will long this name if: A) It closes back above the 50sma. 0r B) It touches the 200sma.


AMZN: We like this name for a bounce next week. It held its 618 retrace on Friday. So we'll see buyers step in here, or if it wants to tag the 200sma first.


BAC: Held its .50 retrace on Friday. As soon as buyers step in, we like this name for a bounce. We will get long if: A: It closes over Friday's high or B: It touches the 200sma.


CRSP: Hit our 54 target and has begun a retrace. We'd like to see it get down to around the 50sma, for us to re-enter on the long side.


JD: We are long JD as of Friday And we're looking for an earnings run up to $29 Earnings are 8/15 and we will by then out by then regardless if we reach target or not.


MU: Is giving a buying opportunity on this pullback. So far, it held the .382 retrace. We will get long if: A) if closes above the red downtrend line OR B) Fills the gap to the .50 retrace around 41ish.


NFLXL: We are still looking for a long entry on NFLX. We will enter long if: A) it recaptures the 200sma Or B) It falls to near 290.


QD: Finally closed above $9 and we got long on Wednesday. It has since fallen below 9, but we still believe this has $10/$12 written all over it and will continue to hold to see if we can hit those targets.


TWLO: Has finally started a pullback. It is already deeply oversold and should some tiny bounces. But we will try to wait for a move down to the $120 area before we get long for a larger bounce.


TWTR: Has had a monster run. And unfortunately we missed an entry long. Now we await a pullback before we get long. Ideal entry is around $39. But we will see if buyers step in before that.


XLNX: We got long XLNX on Friday after it fell back to the .618 retrace. We like the risk/reward long here. We're looking for a move back to $120. Our stop is a close below the 200sma.

Charles Chao