Video: https://screencast-o-matic.com/watch/cYQfFBHU7O
The market is in continuation mode after yesterday's historic pullback at highs. However an intraday bounce off lows is in play as we get closer to the close that's forming "weak hammers". Many beaten down stocks are doing the same. We could take a shot at one of these knowing it's a gamble. However, I would not get too aggressive. The Focus now is on Relative Strength and the stocks that have been hit the hardest. Relative strength includes the previous beaten downs - airlines, retail, travel, casinos, restaurants, energy, housing. Relative weakness is in tech, software and other momo areas. Remember if playing bounces we are not predicting that the market goes back on trend - only that a reflex bounce is in play. Stocks in play include big tech list from below, relative strength from beaten downs below and rubber bands from RS extended below. Total list: DOCU, SQ, FSLY, ROKU, PYPL, COUP, TWLO, SPOT, LVS, UAL, LUV, X, BOOM, ULTA, RL, CAKE, SHAK, WKHS, RIG, CCL, URBN, SFIX, KSS, DKS, NIO, NKLA.
Continue to watch the relationship with VIX and breadth indicators.
Beaten downs ETFs to follow: JETS, PEJ, BJK, XRT, XHB, MJ, XAR, DBB.
Big tech: FB, AMZN, GOOGL, AAPL, TSLA, DIS, TWTR, MSFT
IPOs: KC, NKLA, INO, GAN, RVLV, LMND, DKNG
RS Extended (potenial longs and shorts): PTON, TSLA, ZS, SQ, SPOT, SHOP, WIX, TTD, ETSY, TAL, COUP, ZM, DOCU, FSLY, LVGO, BABA
China List: TME, YINN, HUYA, SINA, BABA, BIDU
BD: UAL, RCL, CAKE, MGM, WYNN, MAR, H, EAT, SHAK
ETF LIST: SPY, IWM, QQQ, GLD, GDX, TLT, UVXY, EWZ, FXI, RSX, USO, XLE, XLF, SMH, IGV, XCC, XHB, XAR, MJ, XLV, XBI, IBB, CLOU, SKYY
Current Positions: Took profit in WIX short. Stopped out FAS and BYND. Breakeven on DIS.Still holding MGM and ZSL.
https://screencast-o-matic.com/watch/cYQfFBHU7O
