Scott Redler’s Dog Bytes: Tech Watch
SPX futures are flattish. We’re getting a slow start to the week after the weaker-than-expected jobs data from Friday. The consensus is that the Taper will start December and might be a reduction of $10B instead of $15B. The 9/22 Fed Dot plots will be important. September is historically a volatile month, but we can’t get too bearish if 4513 holds. So remember that level. If the rally wants to continue, 4545 is pivot resistance.Now let’s dig into some key tech names. SOXL did a Red Dog Reversal around the $38.58 pivot and stayed special all the way to $49. Last week it digested above $45 to keep its commitment. Some are in vs. that spot.NVDA led the semis since announcing a stock split. Earnings got it going again through the $209 area. It hit $230.42 before consolidating above $221. On Friday, it turned up and now we’ll see if it tries to clear that high for another move. Be careful adding on strength.AMD keeps giving us new setups. Friday got me back long vs. $108.50. I’ll see if it can get and stay over $111.17 to possibly add. SNAP started acting better as I re-entered. It’s still a bit sloppy so you need to take care with size. I’d like to see it hold the $71.50 area. Perhaps it clears $75-$77 to open the door for higher prices.PYPL has a nice bull type flag look so I got in Friday. I might add vs. $284 to go green. Then it needs to clear $293 with authority to open the door for a move back to the $310 area in time. Positions Disclosure as of 9/7/2021 at 8:05 a.m. ET
Continue Reading -->Options In Play – Sympathy Pop On NET
It’s not always the name that reports that has the best move. Similar to other Cyber Security names last week, NET was the go-to sympathy play this week.
Continue Reading -->Options In Play – Rolling Out Vs Rolling In
Rolling out is my normal routine if I am sticking with a swing trade. Sometimes I actually roll in, though, and there are a few reasons why.
Continue Reading -->Firing on All Cylinders
The current market is one of the most bullish Sami’s ever seen. And there are plenty of bullish names to play, but how should you plan to trade them? In this video, Sami explains: – How CFMS and CIDM compare – What makes DOYU different from other Chinese stocks – When he should have played GNOG – Which casino stock he likes best – Why NLOK looks good on different charts
Continue Reading -->Options In Play – Earnings On The Radar Week Of 9/03/21
It’s the last week of August and the first week of September. That means more retail results and more Software reports.
Continue Reading -->Options In Play – The Banner Week For Cyber Security Stocks
PANW set the tone for Cyber Security stocks this week, but it isn’t the only one moving. It’s a great example of why sniffing out sympathy plays on earnings can be so rewarding.
Continue Reading -->Options In Play – Meme Madness Round 3?
Don’t look now but meme stocks are showing signs of life. We know what happened in January and we know how June played out, so here is what to watch for.
Continue Reading -->Options In Play – A Bounce Vs A Trend Change Swing
What’s the difference between a bounce play and a trend change trade? The big difference is time.
Continue Reading -->Bullish Until Proven Otherwise
Sami was bearish briefly on a pullback last week, but the market is grinding higher again. When can you expect another pullback to happen? In this video, Sami explains: – Why you should look to the 20 MA for stocks like ABBV and CMCSA – Which names look good for options traders – How to place a stop on a thin stock like EVBG – The effect negative past memories have on ALKS now – Where to find a weekly 1 2 3 pattern in CYBR
Continue Reading -->Options In Play – Repeating Patterns On SPY
It’s deja vu all over again on SPY…almost. If this setup looks familiar, it’s because we have seen it several times already this year.
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