6 [Dead cat bounce or bottoming process? Oct 8, 2019]

  • NUGT may try a bit bc I’m really bullish on GLD, the technicals are very strong, I think it could go to 155 or something sooner rather than later. I bought 15kshares NUGT starter, tight stop lods. Stopped out, I’ll get back in if it takes out hods.
  • CRWD, CHWY these are not ideal short setups, ideal would have been if these had gapped up, now they’re just in the middle of ranges, I don’t see a big edge here. They have established an opening range so for daytraders could be a setup here on the short side, but not for me I don’t think the edge is big enough. CHWY broke orhs, and CRWD is about to do it, but I’ll pass on these. CRWD nice follow through from orls, this is a great daytrading setup, the kind I traded all the time.
  • BYND is weak, I’m not gonna short it bc it’s gonna be a longer term swing trade, I don’t like to pay for borrows over longer term, this is not etb. Now it’s really not going up on PRs anymore, in spring every time it PR’d had a big move, now the PRs have been getting faded, so if a very highly valued stock doesn’t go up on good news anymore, that’s a sign of weakness.
  • IWM looks kinda weak rn, put in a bit of a lh, if we break this area things could get ugly, big range breaks they can go both ways, if you have a big range break like this could be a pretty bad breakdown on the weekly chart.
  • DOCU had a bit of a breakout yday but wasn’t a great setup, the great setup was here on earnings.
  • OKTA failing at the declining 50day after this little bounce it had.
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