Two alerts went off in the Discord today, and I see that most traders are already in them. The S&P gave up its 3 day win streak, and the Nasdaq dove off of a cliff at open yet mostly clawed its way back for only a loss of 0.5%.
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NKE is looking pretty juicy. It is at the 180MA support, YTD VWAP, the RSI is indicating undersold (obviously), and the seasonality is there. Great oportunity unless NKE has some unforseen event that causes a further selloff.
NET is at the 50MA which it hasn't been in a while. In my opinion it is still to overbought, however we can take a chance on the bounce with a small position. I'm thinking a vertical spread. If it falls below the volume shelf, I'd cut it and move on.
SBUX is also in a great entry position. It is hovering around the 180MA, YTD VWAP, volume self, the RSI looks juicy, and to top it off the seasonality starts to improve into the winter months. Is that really a surprise though? Everyone likes hot coffee when it is cold outside. I'll be taking a EOY position, and trying to exit around November, or earlier if the we are very in the green.
CHPT is looking as if it has found a glass bottom. It has bounced off of it 4 times. Let's see if this time is different. I'll be taking a small size here and seeing where it goes.
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EBON +8% (puts)
Dis +25% (calls)
T +11% (puts)
MCB -15% (puts)
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