Hello all. Looks like the premkt gap down is nothing too special less .73% on the $spy as of now. The watchlist from Monday is still in play (We have been playing a few of them). If we get a pullback today a lot of the breakout/pullback setups will become valid.
Just a couple additions.
Here are a few shorts you can add to your watchlist. Always good to have a few and be prepared in case mkt goes against you.
Look at ACH got very extended. Checkout those gaps! This is an aluminum company so if AA takes down the market you can sure bet this one will tumble. Its already gapped down premkt so Id wait for it to pop back up then Ill have it on watch with a stop below its high.
$MI
This one also is overbought, stretched and right under a resistance. Its low risk. You can put a stop right above 7.
$cali
This is a chinese autoparts company. Just got listed to Nasdaq from the OTC. Its gonna breakout in the next few days for sure. You can play this 2 ways. Play the breakout of 6.35. Or you can add a starter position on a pullback and then go fullboard on strenght of the breakout.
Keep an eye on $seed for a breakout trade….the company kind of stinks and is very overvalued but the chart looks perfect. strong break above 14.60
