My best idea for 8/18/2020!

 

BIG PICTURE:

Market indexes are all still in healthy up trends with the $QQQ's back in the leading currently trading at all-time highs. So I am therefore still long biased.

MY BEST IDEA:

$SE

One of the current momentum leaders gapping up to new all-time highs on the back of positive earnings news this morning. It has a fairly low float at 58.96M; a very high short float % of 45.56% and really good ATR of $7.78. So this stock has the potential to make a massive move today. Furthermore, with an average daily volume of 5.37M its very liquid and should be easy to get in and out of. I can't recall trading stock before so it could be spready; this might be the only thing that keeps me out of this stock today if it offers me one of my set-ups.

My best ideas for today's session!

 

BIG PICTURE:

Still in an up trend. Still long biased!

MY BEST IDEAS:

$RKT: Recent IPO. After an initial 2 day pop, it pulled back for four days but held above the IPO price (I think $18) and is now gapping up today after announcing positive earnings and guidance. There is no short float% data but its float appears to be around just 100M according to FINVIZ. It's ATR is good at $3.23 and it has lots of liquidity with 47.04M shares traded daily. I like it long above yesterday's high and will be looking for a move up to the high of the opening day.

$OSTK: One of the momentum leaders of the current up trend, now looks ready to continue pushing higher after a low volume pullback to and bounce off the daily 9-ema. While it doesn't have any fresh news that I can find, its float is only 39.89M and it has a fairly high short float at 12.82%. Furthermore, with an ATR of $8.95 and average volume of 5.18M, liquidity and range should be of no issue today! I like $OSTK long above yesterday's high and will be looking for it topush to around $105ish today.

My take on the markets and best ideas for 8/13/2020!

 

BIG PICTURE:

All of the market indexes are still in very healthy up trends. As I'd anticipated yesterday, dip buyers did indeed come in especially in the case of large cap tech ($QQQ) which looks set to continue higher today. While small and mid caps aka $IWM was soft yesterday and looks set to continue in the same vane today. So overall, I am still long biased, however, I am more open to taking short plays now (which do appear to be working better over the past few days)!

MY BEST IDEAS:

$SRNE: covid-19 play and of the momentum leaders over the past few months. After a steep 2 day pull back and bounce off the 20-day sma and previous support; looks like it wants to continue higher today. This stock has a float of 200.97M and short float of 24.09% with ATR of $1.92. So this stock has the potential to be very explosive not to mention its very liquid trading an average of 52.29M shares/day! I like it long above yesterday's high as I believe it can trade up to the 15's or even 16's today.

$FUTU: yet another momentum leader of the current up trend; bounced nicely yesterday off it's daily 9-ema and daily price support. Gapping up today after announcing earnings news. This stock has a float of just 42.31M, short float of 1.79% and ATR of $2.42 so it could be explosive. Although it typically trades just over 1M shares/day; it's already traded well over 500k already in pre-market with half hour or so still to go before the open. So this stock will very likely attract a lot of liquidity today. I like it long above $37 and think it could at least test it's all-time high around $41 today!

$PENN: After a really nice multi-month base breakout last week Friday; this momentum leader put in a bit of a sloppy flag which its gapping out of today after an upgrade by Goldman Sachs. It as a float of just 110.07M, short float of 16.75% and ATR of $3.54 so definitely has explosive potential. The gap is some what big for this stock and I think it will need some time to consolidate or pullback intra-day before I would consider touching it. 

OTHER POSSIBLES:

$NKLA, $FSLY, $NVAX, $PLUG (all long biased)

My best ideas for August 12th, 2020!

 

BIG PICTURE:

Red day in the market indexes yesterday but notwithstanding we are still in a healthy uptrend. Markets were over bought as I'd noted a few days ago and needed to pull back/consolidate and did so especially the $QQQ's over the past few days.

Maybe the selling continues today but I believe "dip buyers" will come in. That being said, I am still long biased and will continue to favour long over short plays.

MY BEST IDEAS:

$MRNA: 

Gapping up today after a double test of support and the 50-day sma around $65ish due to announcement of striking a 1.5bn deal for US supply of covid-19 vaccine. So I'm long biased on it. With an ATR of 5.69 this stock has a lot of range and I could see it trading in the low 80's today.

OTHER POSSIBLES:

$VXRT, $RKT, $ROKU, $SQ (all long biased)

My best ideas for today's session!

 

BIG PICTURE:

Not much has changed really. We're still chugging along towards new all-time highs in the $SPY and $DIA. Money appears to be flowing out of large cap tech ($QQQ) into other sectors with airlines and cruise ship stocks catching a bid lately thus $IWM is now leading the market indexes higher.

So as I have been saying on repeat for the past few weeks, I am fervently long biased and will continue to avoid shorting until market internals clearly start weakening. 

MY BEST IDEAS:

$NIO:

$AAL:

$NCLH:

OTHER POSSIBLES:

$NKLA & $JMIA (long)

$FSLY (short)