AMZN - Broke above the bull flag pattern that we highlighted in last nights watchlist. Today AMZN was able to close on the dead highs at new all-time highs and I believe it is set up for a another multi-day move. I am long AMZN overnight via 330x calls and I believe 330s is in play this week.
NFLX - Broke above this 2 week channel today into new highs and NFLX doesn’t understand what slow down means so lets take advantage of it. Today we saw huge call buying on the weekly strikes and based upon recent moves NFLX has made I don’t think 340′s is out of the question for a target this week. Im looking to trade the 335x calls on a break above todays high. NFLX has a good history of doing gap and go days so if NFLX gaps up tomorrow don’t be surprised if it continues to trend higher.
YELP - Bull flag on the daily chart and still has a very high short interest. Watch this one for a move above highs at 71.50 tomorrow as this could see yet another short squeeze. I like the 72x calls here
FSLR - Started to get into the big gap left from the end of July and closed above the 50day today and I think can see continuation going into the rest of the week. Solars woke up last week with SPWR actually leading the way this time.
Two stocks that havent broke out yet but I believe will very soon, might look into a swing position on them tomorrow with anticipation of them breaking out within the next few days. These are SBUX and GILD
SBUX - Has been hovering above the 8day ma for the last few weeks despite overall market weakness. SBUX is right under its 52w highs and I believe it is going to ‘wake up’ very soon. I am looking at taking October 75 or 77.50x calls for a swing play and would give it til the end of this week for it to breakout.
GILD - Biotechs have been hot all year and today the sector expanded to new 52w highs and a few the big names like REGN and CELG have seen big moves as of late and I have found with these biotech names that they typically take turns running and with GILD’s tight daily pattern and very close to making new highs I think this is another good one for a swing play. Im looking at Oct. monthly 65x calls going for .60c and would give it til this friday for it to breakout.
Remember this is just a watchlist and do not guarantee to be profitable trades. Use your own judgment when making the trade.
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