C.O.I. For The Week Of 6.17.19


SPX: Continues to consolidate above the 50sma. This is bullish as long as that line holds. We are waiting for a move below to 2863/2840 before getting more aggressive on the long side for a bounce. If we get a move higher first, we'll simply ride the longs we have, and maybe add one of two more strong names. It's still unclear if this is a B wave counter-trend move, or the beginning of a major wave up to new all-time highs and beyond. So we'll just keep trading day-by-day so we make money no matter which way the market decides.


AMD: We finally got the 5% pullback we were looking for. We bought on Thursday at 31.15. We'll be swinging this names, holding for more than the usual Quickie trade in a Volatile Environment. It's a name that has been strong and can rebound quickly. 1st target 35. 2nd target 37. 3rd target 41


BABA: Has been receiving a lot of call buying of late. It's currently battling its 200sma, but if it gives a daily close above, we'll get long. If 149.60 was the bottom, we're looking for a move to 225. Follow our @NPPpremium Twitter feed for an alert when/if we buy.


CRM: Continues to get call buying during this consolidation. If this market rockets higher Post-Fed on Wednesday, this will be a name we jump in. If 142.51 was the bottom, we like this for a run to 183. Follow our @NPPpremium feed for an alert when/if we buy.


QD: Nice retest of the triangle breakout on Friday and it held. Once this one gets above 8, we expect 10 pretty soon.


SNAP: Has a massive the last 2 weeks. We got the Jan '21 10 calls at 5.05. They're currently +13%. But we think there's a lot more in them. 1st target 17. 2nd target 20. 3rd target 22


SPOT: After the close above the 200sma on Thursday, we bought Given the call buying, we will be swinging this name, going for more than the usual Quickie trade during Volatile Environments. The set up is that good. Stop at -15% from our 144.97 entry.


Z: Continued its consolidation last week after a monster move. We are still long 1/2 of our Jan '21 35 calls And we're still holding the June 21 '19 45 call hedge, thinking more consolidation happens next week. Our target remains at 55.

Charles Chao