FEBRUARY 4TH
SPY
SPY here doing exactly what I thought and we continue to squeeze stubborn shorts once again. HOWEVER I would be looking to get short soon looking to catch the last few chasing these levels. What you need to be careful is looking for continued buying momentum as hedge fund exposure is quite low and they will need to gain exposure at some point. With that being said they usually are dead wrong on their timing, which gives us a huge opportunity if we can time things right.
PYPL
With all major indicies heading into resistance, and hitting key numbers technically it may be time to think about a change in direction. You will notice the change of sentiment throughout forums, media, and in day to day conversation. This should give you a hint of what is to come. PYPL hitting highs just to miss on earnings should have some longs trapped with expectation that this is just a dip. However I don't think so, and think we are in a long trap. I like any push to start a position in March or April puts.
CRON & NBEV
As I said last week I was expecting for further upside. $19 seemed to hold well and trap shorts into believing this monster was done. However, they were sadly mistaken and continued to get squeezed as the major indices start to squeeze further. While I don't think this stock is done I think the easy money is off the table until we extend further. One to watch would be NBEV, with increased activity within the options market it seems as if players are looking for sympathy in this sector. While this is a highly speculative play, it would not be off of the table this week if we can start to squeeze in the overall indices.
This is not financial advice and should not be taken as such. This is just for my own personal use and to help categorize some of my own thoughts. So do your own research and make your own trades.