T3 Live

5 New Names I’m Watching This Week


We have mostly green arrows around the world on optimism of another UK U-turn.

Bullard's remarks late Friday are also helping. It seems like the market pushed the Fed Funds rate to almost 5% too fast. Earnings season is starting and so far the banks were treated decently.

SPX futures are +40. This is a tough open because some probably went out very short with Friday's weak close, or flat because of Thursday's tricky reversal.

I’m pretty flat and we'll see how much of today's early strength holds. 3636-3652ish is resistance. See if bears reject the market there.

Watch TLT, USD, and key names to see if they hold up or go green to red.

Now let's check levels on 5 key names I'm watching today:

AAPL hit a low near $133 on Thursday and gave a way to trim some longs on Friday it you took it home. It failed fast like everything else. Does this morning’s bounce hold? $141.50 will be a spot to see if sellers come back.

TSLA: On September 21-22 around $305, I said it’s no longer special. It's been below the 8 day since breaking $275 and $262 to see a low of $206. Thursday's bounce was sold fast. It's a up a bit today. Earnings are on Wednesday. Although it's actively oversold, it's very broken. There is some resistance at $211.50. See if sellers reject it today. $206 is now a very big level on the support side.

NFLX finally came out with the ad platform. It seems decent. I made some Thursday into Friday, and it’s one of the few names I didn't get stopped out on with Friday. Earnings are this Tuesday. I won't hold the stock into it. Maybe I’ll do a call spread.

NVDA made new lows on the year and led the tape down. On Thursday it hit $108ish and reclaimed $113.45 to see $120ish. On Friday it failed fast. See if early strength holds or fades today for clues.

JPM had solid earnings and hit $115+. $110ish is key active support to hold here. BAC was decent this morning. See if the early strength holds or fades.

Positions Disclosure

Leave a Comment: