45 [Resilient markets. Jan 9, 2020]

  • TSLA needs to short some weakness first, bc it’s been building hls on the 60min, rn it’s gapping up a little bit, idk if today is the day, I really want this thing to go to 550 or something. If it goes red I’ll short a starter, bc it is getting extended. I’m in 2kshares, this is gonna be a swing trade but ideally if stops me out goes higher. So now it did break the hls pattern on the 60min, I’m risking $7 to make maybe $50 to 70, very decent r/r, not going crazy with size, now I would have gone crazy with size if it had gone up another day or two to 550s or something. TSLA found support on this rising hourly 10ema, this thing has been support pretty much the whole move most of the time.
  • AXSM nice, should probably cover some more, they had an offering 87 so let’s see how it holds that, if it can find any support here of if it’s gonna flush lower, and it’s also the rising 20day so it’s a big double support area for this stock, if it can’t go green here that’s a pretty big sign of weakness.
  • QCOM this is a really nice looking chart, technically and fundamentally too, they have some damn nice estimates for this year, but unfortunately it’s a very very slow moving name. This was one of the biggest movers back in the internet bubble from ’99-00 went up 2300% in one year.
  • AXNX just bought a bunch, this thing has some insane rev growth, if it takes out orhs it’s gonna go, I bought 10kshares 31.90s, they more than doubled their rev guidance like that just doesn’t happen. You can clearly see the revenue growth so far has been good, and next Q they’re gonna go from 1.3M sales to 10M that’s pretty insane numbers, they got an FDA approval of their medical device so that’s prob what they’re selling.
  • These types of market environments are my fav, when the markets just grinding higher with very little volatility, it only happens maybe 10/15% of the time but when it happens it’s pretty damn good bc you can be heavily heavily long in a lot of positions.
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