Mickey mouse has consolidated and built up a lot of energy. notice that volume is starting to increase and the mouse is definitely in a squeeze. I posted the daily, but you should also look at the weekly to see how great it looks. Obviously this moves with the market, but I think there is opportunity for "alpha" here. $184 target, tight stop loss. Above $180 and I think this is definitely going to fly.

Salesforce might end up being the tech stock of the year (along with AMZN). I don't want to buy here, but there is really good bullish consolidation. I think this can be bought at the mean, either through a dip or some continued consolidation where the mean catches up. If this takes off from here, there will be another setup. I want this $242/241 for entry long. Probably good 240/235 put credit spread candidate at current prices as well.

$30,000 Millionaire said:

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$JNJ I don't want to buy at 2 ATR, I want to buy at the mean, or worst case $166 area. Maybe a good spot to scale in. JNJ makes more than just vaccines, so don't forget that. Target 1 is $171, Target 2 is ATH.

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NRD09 and myself got in JNJ spreads week before last anticipating this move.

$PEP - weird candle on Pepsi on Friday, but I think this could set a new ATH. Let it cool off slightly first for a trip from 147 to 150. This is low beta, therefore options are cheap. If this takes off, you could make good money. Buy ATM options.

great work

$ABBV - Farmer's favorite. Buy at $114 for trip to ATH+. Needs volume to show up. Longer dated calls.

$UNP, wondering if we are about to get "the move". I want under $222.

NQ clearly overcooked. Look at the RSI and how far away it is from the 8 EMA. Is it going to be new ATH every day this week? Should we go nuclear long here? NOOOO.

I'm on the road but a quick look, are futures up pretty good?

$TM. Gap city. Fortunes to be made if this thing falls apart.

CrazyRichAggie said:

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I'm on the road but a quick look, are futures up pretty good?

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they're flat. I secretly want limit down.

$ASAN - I hope the astronauts took profits. I think upside here is limited without a meaningful reversion to $55 area.

I have less hope on $NVDA with split upcoming.

Consulting firms don't get a tech multiple. Look for signs of fatigue, probably has a push higher for an entry.

Easy target $296.

$IT Gartner - we're going to let half assed analyst firms have parabolic moves and tech multiple? $21B market cap on $4.5B in revenue? How about "overvalued". Notice that volume on Friday was very high. That means you need to start to see failure. If this thing goes above $260, I will go in heavy. This looks like such a great setup to short. Because of that it will probably f me.

250/270 call credit spread (short) looks attractive. Market makers have figured this out and the August 250 puts are $10. A 260/230 put debit spread looks attractive as well.

$BEAM - comments unnecessary. Just have a tight stop.

$GOOGL - I tend to think this is going to 2600 or it's going to 2400.

$CVS - consider shorting on mean reversions ($84).

Think I'm going to join you ASAN put holdersthink august should be enough time to have this thing revert to reality

We're all gonna need to do better to pay Bidens new tax plan. Yikes.

Guys I just dropped a lengthy post looking and price action around Quad Witching. I know we're several weeks out but this is one I wanted to get off of my mind now. New post so the info doesn't get lost in this thread. Give it a look and let me know your thoughts.

ibdm98 said:

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So there is a particular book linked in the first post on this thread that for all intents and purposes looks to be out of print. Are there any copyright lawyers on this thread that can give insight into the laws around what can and cannot be done regarding books that are out of print?

Specifically, would it be okay to copy said book and make a digital version available to others?

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I'm in possession of a copy of said book, and I actually had a similar thought so I reached out to the publisher to see if we could get permission to copy all or part of it for this board for educational purposes, but the original publisher has changed hands a couple times so nobody I talked to could point me in the right direction. If anyone has any contacts or can put me in touch with the right person, I'm happy to do the legwork, but it's not my area of expertise unfortunately.

I also wish we could convince them to re-publish it, even just a kindle edition, which I wouldn't think would take a huge amount of work on their part. No telling how many copies they could sell just from people on this thread.

Feeling bearish this week. Just a feeling at this point but planning to be cautious:

• OPEC+ failed to agree on oil production levels
• FOMC meeting minutes on Wednesday
• Another ransomware attack over the weekend

Double_Bagger said:

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Feeling bearish this week. Just a feeling at this point but planning to be cautious:

• OPEC+ failed to agree on oil production levels
• FOMC meeting minutes on Wednesday
• Another ransomware attack over the weekend

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I'd play any run up into earnings and lighten my load or sell outright. July, early August, is big earnings period. Watch the big companies at the beginning, if they beat earnings and sell off, that a canary in the coal mine. Personally, late August and September has me cautious and will significantly decrease my exposure to risk. I'll be watching the stock reaction after a company reports great results.

Prognightmare said:

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Double_Bagger said:

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Feeling bearish this week. Just a feeling at this point but planning to be cautious:

• OPEC+ failed to agree on oil production levels
• FOMC meeting minutes on Wednesday
• Another ransomware attack over the weekend

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I'd play any run up into earnings and lighten my load or sell outright. July, early August, is big earnings period. Watch the big companies at the beginning, if they beat earnings and sell off, that a canary in the coal mine. Personally, late August and September has me cautious and will significantly decrease my exposure to risk. I'll be watching the stock reaction after a company reports great results.

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MU fits that model. +1 for the bears.

More bear perspectives. The problem is that we need everyone to be bullish to really drop. So likely upwards, ridiculously so, from here.

No bubble here. pic.twitter.com/aC7vUb7uRj

— Lawrence Lepard, "fix the money, fix the world" (@LawrenceLepard) July 5, 2021

Independent of anyone's opinions, keep an eye on Israel and UK for Delta Covid as a market headwind.

It will burn out quicker than Alpha, likely only a thing for next 1.5 - 2.5 months. More transmissible and affecting younger people. People will care if kids start getting hospitalized.

Don't forget that when you're extended and the fed "call" is here that we could be trapped and range bound. Trading strategy changes.

$30,000 Millionaire said:

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Salesforce might end up being the tech stock of the year (along with AMZN). I don't want to buy here, but there is really good bullish consolidation. I think this can be bought at the mean, either through a dip or some continued consolidation where the mean catches up. If this takes off from here, there will be another setup. I want this $242/241 for entry long. Probably good 240/235 put credit spread candidate at current prices as well.

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I got sidetracked today to review many charts with a new desktop arrival , monitor set-up, programs, etc. but had this on my watch list for continuation.

Like it!

How often do you guys put a stop loss or something similar on individual stocks bought to day/swing trade? Long term holds?