Pre-market Live and Options Picks for 01 04 2020

Good morning, traders. Let’s go over to my charts. FCX, if you guys remember, we got into this trade on Friday on the dip probably around here [00:50], up, down, and then just sideways, and then down into the close. Nice gap up pre-market. I think we’re into all-time high territory, so expect continuation on this [01:04] play. If you’re still holding, congrats. I’m guilty as charged. I don’t always have the most patience.

The trade is working out just like I planned. I see 29 in the cards. You can do all kinds of little tricks with drawing lines, drawing channel lines. There you go, just like that [01:41]. It’s not going to go straight up. I mean, RSI, a little high, but we might see a dip, fill the gap, and then continuation. You might want to close your position at the open and buy back off the 10-minute or 5-minute timeframe on the 50-day simple moving average. I can go to the 5-minute. This [02:13] is good support here now. This [02:15] used to be resistance. Now, it’s become support. Support and resistance are interchangeable. Good setup, I like it, just didn’t hold.

TSLA, so right away, what do they do? Gap it up into an all-time high. Hey, wait a second, where is my line? I drew a bunch of lines on TSLA. Don’t tell me they’re gone. I wonder what happened. Five-minute, there [03:11] they are. Is anybody else experiencing bugginess with E*TRADE? It’s frustrating. I had all those lines. I don’t know if you saw them. They were all yellow. Now they’re all gone. I spent an hour drawing these lines. They gapped it up.

Actually, now I have to go back and show you, really, what I’m looking [03:50] at. There [03:53] they are. Look at that, crazy. Gap up all-time highs. This [04:02] is the high pre-market of 525, but we’re fading. Let’s see if this holds, this area right here [04:13], which is the previous all-time high, I believe 718. This is now support. It used to be resistance. I’m going to go to the five-minute timeframe. TSLA does behave on the 10 or 15-minute timeframe, not really the 5-minute timeframe, just for those curious who alternate between frequencies and time.

All stocks are different. You just have to watch the stock over a period of time and trade it regularly to get a feel for things. You can see here [05:13] that TSLA does respect on the 5-minute timeframe the 50-day simple moving average. You can see [05:20] it respects it, touches it, bounces, gets below it, but it touches this [05:25] trend line that we drew.

There’s so many stocks. It’s easy to miss when they hit the support. We should start setting alerts again at these levels, 707. It’s a moving thing. It might not hit the 707. It might come down, push up sideways, and then finally touch this trend line support at 710. The 706 or 708 channel line doesn’t get the alert on your phone. It doesn’t get triggered. That’s the catch with alerts. You almost have to just watch it.

Look at that [06:23]. Is that a real print all the way down? TSLA might get a big push at the open, at least to here [06:31]. It’s TSLA. I don’t know what this [06:34] is if this is a fake print or what. It went all the way down to this [06:40] support and then back up. This is either a fake print, or I wasn’t paying attention. It did pull all the way back, but I doubt that, and then pushed back up.

Let’s go into AAPL really quick, AAPL, NEO, and SPY. Then I’ll take a look at McDonald’s. A member brought that one to my attention. I can’t remember the last time I traded McDonald’s. It’s a funny stock. We’re in this huge range between 132 and 134. It’s a $2 range on AAPL, huge. AAPL’s a leader. The markets want to stay green. AAPL’s got to stay green. It’s a feel-good rally. AAPL’s green, everybody’s buying, keep this rally going, push it higher.

AAPL is a leader, definitely a stock that you want to keep an eye on. SPY is the big leader. I’ve seen AAPL green and SPY red. Most of the time, if SPY is down, the whole market’s down. It’s a market trade. I’ve said this many times. It’s nice to have at least two monitors, so you can keep an eye on the major indexes. I cycle through. I look at all the indexes, the IWM, the DIA, the IYT, the gold, GLT, the UUP, the dollar, the USO, oil. Yeah, AAPL’s a leader.

I’ll pull this [08:48] away. I’ll show you this [08:50] really quick. I use MarketWatch. These [09:11] are the leaders pre-market. I’m looking at pre-market volume. I’ll take a look at FLIR. I wasn’t paying attention to that, but that’s a lot of pre-market volume. It’s quite the gap up, so FLIR. Wait a minute, we’ve created FLIR before. I wonder if anybody’s still in that swing, probably paying. FLIR, and then I looked at [09:36] the laggers. I looked for high volume, maybe dead cat bounce plays. These [09:47] are the most active names, AAPL, TSLA.

I stay away from a lot of the airlines and cruise lines. I am not a fan. I don’t really trade them. I like MRNA. I don’t know why, but I’ve always had really good trades with MRNA. Ever since I first traded it, it’s been a good stock to me. I like to go back to it. We’re very acquainted. AMD, ROKU usually shows up on this [10:21] list. Today, I only see AMD, ROKU, and Square. That’s a little bit how I do some of my pre-market research. I still have to draw my lines. I still have to go to the options chain. Let’s go into FLIR. Nothing to do with AAPL, just keep an eye on it.

What’s the news? Why is it [10:57] gapped up so much? I’ll have to look into that [11:22]. If anybody knows what’s the news on FLIR, could you let me know? This [11:32] could be a gap in crap. I mean, look at [11:34] the RSI on the five-minute. Let’s go to the 15-minute. [11:42] be in some 52 puts. I don’t know if they have weekly or monthlies. I try to stay away from monthly expirations with day trades. Unless it’s a weekly expiration and it’s a day trade, then that could be good.

We’ve got to look at McDonald’s. Already pre-market dip to the trend line that I drew [12:24]. I don’t know. I’ll keep an eye on this one. The only way I’m going to trade it is if we break this [12:32] area around 215. We could see a continuation to 17. That’s market willing. An already red pre-market means selling off. It’s selling off big time. This [12:54] is our down channel. This is the down trend that McDonald’s had been in. We got above it, dipped, gapped up, the resistance, backed down, already green again. This is a stock I’m keeping an eye on.

NEO is also a good stock to keep an eye on today if you want a nice day trade. NEO has been great to us. We’ve taken it many times. I need to draw my lines on this [13:32]. Somehow, they got deleted. Yeah, some members are already in the January 15th 50 calls. They are looking good. A little bit of a blood bath yesterday, I think some members got into some calls around here [13:49], mid-day, sideways, and then down at the end, a little push before the close.

SPY is at this [14:12] huge – am I at the 15-minutes on here [14:18]? I want to go to this [14:20]. Sometimes you wish you could sell your calls pre-market when it’s up here [14:35]. You’re sitting here [14:36]. You blocked calls yesterday here [14:38] before the close. It gaps it up. You’re like, woohoo, money, and then it slowly fades all the way down before pre-market open. Then you’re like, no, stay up. If you wish, you could just close it out here [14:53]. Like I said, it’s okay. The moving average needs to catch up to SPY before it’s continuing to move higher. That’s really all we’re waiting on.

I thought I had drawn a big trend line. I did. I know for a fact I did. There [15:20] it is. There it is. I can see that. Let’s go back to the five-day, five-minute timeframe. Let’s see if it’s there. No, it’s not there [15:39]. The three-day, I really don’t know how E*TRADE works. There [16:01] it is. It’s on the day. Isn’t that weird? You go to a different timeline, and your lines disappear. Good reminder for a future reference. I’ve never really run into that.

This [16:15] is that big year trend channel I just showed you guys on the year timeframe. I know it’s quick. They can’t grind it through this resistance. It’s too much like steel titanium. What do they do? Gap it up. Gap it up above resistance. It started to slip. I might be getting puts at the open. We might come back down, fill the gap, basically, 374. I’m selling my calls that we bought Friday at the close at open. I’m going to probably get into puts after I close out my calls, since they do expire today, the ones we got.

We’ve still got a little bit of time, about a half an hour before the market opens. Let’s see what some of these names are doing. I’ll cycle back through, check them out, and see you guys in the chat. One last thing, we’re making some improvements on the Slack. We’ve got all new channels. We’ve got futures trading. We’re going to be rolling this out this year, the futures trading for members with small accounts, futures trading with options. It’s a great way to grow a small account past the 25,000, so you’re above the PDP rule.

Also, for now, cash account is a way to avoid it. We’ve got all these new channels. We’re going to be doing crypto this year, one-on-one mentorship, announcements, charts, chords, crypt, daily recap videos, dictionary, earnings, calendar, education, FAQs, penny stocks, option alerts, profit and loss, screenshot shares, questions for all. We’re just really unrolling the red carpet. I’m so excited. I’m so happy for this year, 2021. Let’s make it great. I love you guys. I’ll see you on the charts. God bless. Thank you so much for being a member. I really do appreciate it. See you on the charts.

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