Morning Market Briefing – Happy Monday!

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Morning Market Briefing – Happy Monday!

Morning Market Briefing

Morning Market Briefing – Happy Monday

August 16, 2021

Good Morning!

Well last Friday the 13th was neither spooky nor scary, and the markets continue in their weeks long trend of low volume breakouts. At this point, it’s fair to wonder if that will be the case until post Labor day volume returns to the markets. Traders can react to this one of two ways. 1. We can ignore the indexes (or at least not pay as much attention to them) and simply hunt for undervalued / overvalued plays in individual stocks. Yes this is something we’re always doing, but now we do it independently of the larger markets. 2. We can start learning and practicing new setups and strategies and timeframes to deploy in times like these. Perhaps learn a neutral direction options play? Or start to look into day trading if you haven’t already? Any or all of that may or may not be right for you, but you don’t know unless you look into it. Happy Monday!

$442 first level in SPY to watch if there’s a pullback.

QQQs need $370 to break the consolidation.

YouCanTrade Coach Shan’s Play Of The Day

$MSFT (Microsoft Corporation LTP $292.85) finished the week at another all-time high on Friday. The stock has risen by more than 20% in the last 3 months, yet there could be more to the story. The PC Sales world over during the pandemic and their Office 365 subscription product reached new highs and proved their worth for the long run.  The momentum is still positive and RSI, Stochastic still rising. Even allowing for a short-term pullback, the stock could have another outstanding couple of months prior to their next earnings announcement for stellar growth.
On the other hand, the MACD seems to be losing steam, and as mentioned, there could be a short-term pullback up to $263 on the downside.

YouCanTrade Coach Shaun’s Play Of The Day

Well different day same results   no big moves to speak of on stocks we follow. Todays bullish trade is on FCEL ( Fuelcell Energy) It had a nice bump this week with news about an infrastructure bill that would be advantageous but then reality stepped in as will be difficult signing it real soon. So with this pull back I am going to put on a very simple trade. I am going to buy 100 shares of stock if the price is under $6.20 on Monday and sell a Sept 17 7 call for around .50 cent credit. At expiry if called away I will make .80 cents on the stock roughly and my .50 cent credit which results in a a very nice percentage return.

My risk on the trade is the cost of the stock less the premium received.

Now this is not a slam dunk trade as there is a reason this  is not a high priced stock at this point yet but the fundamentals and the juicy premium is attractive to me .

Watch List

Symbol Why We’re Watching
INTC Could breakdown below $53.
AXP Potential breakdown below $165
AAPL At top of range, could breakout above $150.
AMD $108 is 50% fib level on recent move.
PTON Possible breakdown below $110 price level.

YouCanTrade Scanner Ideas

Symbol Idea Direction
EA Short
IBM Short
DIS Long
QCOM Long
KSS Short

For more information on the YouCanTrade scanner, click here. 

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2021-08-16T09:10:11-04:00
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