Pre-market Live and Options Picks for 01 19 2021

Today, I’m looking mostly at Facebook. They had a nice upgrade. They’re up pre-market. Let me just pull this [00:53] up, and we’re going to get into the charts so you can see a little bit about what I’m seeing and what I’m thinking.

Let’s see if we can find some historical areas of resistance. Look at that, right there [01:39], right at 260 is a big area of resistance for Facebook. I think we bottomed here [01:49]. This is our cup with our handle. Now 260 is in the cards for sure. By the time the market opens, I probably will be buying calls. I’m looking here [02:05] at the RSI. I’m also looking at our stochastic indicator on the five-minute time frame. I’m also looking for this 50-day simple moving average on the five-minute time frame so get a nice little kiss, but 260 is our area of resistance.

I’m not going to be holding this very long. We might get a little dip buy opportunity at the open, a nice little push up to this resistance, and then a retracement. We’re going to get out around here [02:47]. If Facebook wants to trend all day, what would be the next area? Probably here [02:55] at 262 and then we have a gap window fill right here [03:00] at this 267. You can always get back in. Buy the dip, sell the rip. Then you want to get back in on any pullbacks to support, to oversold, overbought conditions if you’re going short or long. Let me draw this [03:33] trend. These things tend to work pretty good.

That’s really all I’m looking at today. I’m just focusing on SPY these days, AAPL this week, and then one high quality gap and go stock. Usually it’s an upgrade, or it’s earnings, a couple of factors I look at.

What was also trending pre-market? I think SPCE could be another good trade. It’s not the most liquid of options when it comes to trading options, Virgin Galactic. Big ER is starting this week. We’ve got Bank of America, Goldman Sachs before the bell. Then we’ve got Netflix after the bell today.

SPCE looks okay, but I just probably won’t touch it. Okay, yeah, usually SPY because SPY has same-day expiration options. I like keeping it on SPY. We have a lot of fun with SPY. AAPL can be good. I’m fairly comfortable and familiar with AAPL. That’s what I’ve got. I’ll see you on the charts.

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