Facebook Live and Options Picks for 04 12 21


Good morning, traders. What am I looking at pre-market? SNAP actually just came to my attention. I saw something about the largest change in open interest was in SNAP. Good morning, traders, happy Monday. This is Jake from jakethestockguy.com. Let’s get right into today’s charts. It’s a casual Monday, SPY grinding, nice push on Friday. Let’s just get right into the charts. The only thing that I think I want to buy is AAPL. First thing in the morning, everything else is I think you need to wait if you ask me. We’re looking at the charts.

With TSLA on the ten-minute time frame, this is what I was seeing here [02:54]. Just going to draw some trend lines here [03:23]. This [03:31] broke. What we need is a retest. We also have a gap window fill that needs to get filled. Gap window, get it filled, touch the 50-day simple moving average, 10-minute time frame. Let the stochastic come back down around the lower range here [03:52].

What a run for four days. This [04:00] gap up, insane, I wish I had bought down here [04:03], which was the lows, just under 600. It kept holding the 600 area pretty well. I think everybody fucking bought, and then they pushed it up. I mean, it went from 600, basically, to 700, $100 move in one week. Now, we’re coming back down, consolidating.

I really like Tesla. This could be Tesla’s week. RIOT, it’s one of those cannabis stocks that are all hot. Everybody wants to trade it. I’ve avoided any of – I like trading tech. I like trading unusual options activity. I don’t really follow meme stocks. I know we traded GME once, and AMC once, and BB once. You notice I didn’t keep going back to them. Same thing on RIOT that I’m seeing on Tesla.

It’s the same thing on UBER. UBER needs to do the same thing here [05:29]. UBER is a little different. This [05:38] is up and sideways forming a nice base. It already came back and tested this [05:47] former resistance. Now it’s support. Let’s gap up, we test former resistance, support, back up. You can trade on the five-minute time frame, but it’s more for scalping. It’s not really for swinging. You can still day trade on the ten-minute time frame. You just need more patience. I think you need better entries.

Look at the five-minute right here [06:22]. It worked on the five-minute. If you bought on the five-minute right here [06:27], you just got screwed. Hey, I bought. Stochastic was down here [06:35] below the 20. Just boom, just killed you. You had to have added here [06:42] and added here [06:43] with weekly. You would have had to hold. Weekly expiration options are tough, but they’re doable. I like UBER a lot. I’m going to be watching it closely.

Here [07:02], let’s look at this one. That day it didn’t work, so scratch. This [07:09] is after hours pre-market. This morning, we had this nice dip, buy, weird thing going on. Right here [07:19] you would have bought, which is weird because it went down a little lower, went up, and then it went down the next day. UBER has been messing people up on a weekly expiration standpoint. That’s why it’s dangerous to trade weekly expiration options.

If we look here [07:42] on the ten-minute time frame, these are better entrants. This [07:52] is a W. It’s a double bottom. It’s A, B, C, D, then boom, Friday and Monday, we’re up. Just be careful. It could be a gap and crap kind of Monday, or it could be just another gap up, fill the gap fill window, touch the 50-day simple moving average. Every time it gets stretched from it, it has to come back and touch it.

I’m not going to be looking at doing too much today. It’s Monday. I’m looking for one high quality setup. I’m going to look at SNAP really quick. NUAN, I would trade. I’m so pissed about NUAN. I think we had some NUAN calls that I took off. My discipline left me. We had calls. I hate when I do that. I know what I’m doing. I’m following the smart, fast money. Just because you’re down for a while, and things aren’t looking good doesn’t meant that your trade idea isn’t going to work. Many times this has happened to me. What do you do? Live and learn.

I’m staying away from NUAN. I like SNAP. I like Tesla. Apple could be a good first trade of the day. Just stand by. Just be patient. There’s no rush. Rule number one is never lose money trading. Don’t rush into things. Don’t be boring. I’m already drawing trend lines on Apple. I know where Apple’s going, 134. Here’s [10:18] the lower channel. I like that [10:25]. I like some Apple calls out of the gate.

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Pre-market Live and Options Picks for 04 05 21