My best ideas for today's session!

 

BIG PICTURE:

Like I said yesterday, the markets are all still in healthy up trends. However, they are short term "over bought" and in the case of the $IWM at a major daily resistance level and could pullback today. Nonetheless, I am still generally long biased and will continue to favor long ideas and long trades over short ideas and short trades.

MY BEST IDEAS:

$DDOG:

Gapping down despite beating earnings and raising guidance. It has a float of 169.83M, short float % of 8.68 and ATR of $4.68. Trading just above a major daily level ($80ish) so I could see it either bouncing off this support and pushing back up towards yesterday's low ($87ish) or if it cracks support; it can push down to the next level of daily support around $75ish. 

$Z:

Gapping to all time highs after reporting an earnings beat. Has a float of 143.35M, short float of 19.89% and ATR of $3.18. Not really a big fan of these huge gaps since we could see some profit taking but the stock could also just keep on ripping. So I plan to wait and let it establish a trend first before looking to possibly play it.

$FSLY:

Traded this one yesterday and managed to hit max loss on it. Bit of a tricky trader especially when shorting since its on SSR, has a float of 76.78M and short float of 10.52% plus ATR of $9.18; so it has a lot of range and decent liquidity. If it loses yesterday low, I'll be looking for it to push down to $80 at least if not lower, close to the $75 daily support level.

$WKHS:

No fresh news catalyst per say but this stock is part of the hot EV sector plus with a float of 58.50M, short float 33.60%, ATR of $2.22 and recent history of high spikes; this stock can spike up towards $20 today if it can break out of this bullish daily cup with handle formation.

$DKNG:

Announced that they have expanded exclusive partnership with Major League Baseball and looks set to potentially break out of a some what sloppy daily inverse head and shoulders formation. With a float of 239.00M, short float of 8.52% and ATR of $2.48; this could be a big mover today if it gets going. I like it long above yesterday's high and think it could push up to around the $38ish daily resistance level.