Trading Watch List 06.12.2017

Flattish day for the SPY at close but the big story on Friday was the massive volume flush down on everyone’s favorite leader stocks, tech names! Nasdaq closed down 2.5 % with volume.

















Market was climbing wall of worries even on negative news flows. The sell off in tech came without news while money rotate into small caps , some energy and financial names. So , simple explanation for this is sell off, sector rotation, alogo’s, profit taking, late buyers “get me out of this pain”. All feed into each other, causing violent movement.  What’s next for tech ? Will this be just one day sell off like back in March and May or start of something significant/possible top in tech? We don’t know that, we have wait till next week to see if there is any follow through or bounce. One positive thing we saw was  money  stayed in the market and rotated into other sectors like laggard small caps.

Biggest mover and trades from watch list was TSLA short idea. We were short this in chat room and covered last of our shares for $19 gains!























TSLA opened right at our price resistance level. We added short at 374.50 with $2 or so stop. Rest was pretty easy as it trended down all day  along with other tech. names.

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AAOI Another flush to 60 could get a bounce else 50 MA next bounce spot.
ALNY Bio name holding up, watching for a break out later if market holds.
ERX Energy sector ETF saw some rotation from tech. See if can follow through for a change.
NVDA Ideally a flush to 141 for 20 MA bounce.
PANW Need to hold 133.30 else risk of a gap fill.
PBYI Bio name .Riding 8 EMA, See which way it breaks.
SHOP Needs to hold 89 support and build else 50 MA next support.
SM Energy sector saw some rotation from tech. See if can follow through for a change.
TSLA Our short idea worked well. If 354.80 doesn’t hold, has room to fall to 8 MEA 350 and 20 MA 330.
WLL Energy sector saw some rotation from tech. See if can follow through for a change.

WUBA Holding 20 MA and flagging. See which way it breaks.

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