Pre-market Live and Options Picks for 02 17 21

Hello and good morning, traders. This is Jake from Let’s get right into today’s charts. What am I looking at this morning? I’m looking at SPY, AAPL, WORK, QS. DNN, so disappointing with this one [00:39]. Come on. I don’t want to do that. I want to just pull it up here [00:52]. You see this nice push after hours yesterday up to where I drew my line, the resistance. Here, I’m going to pull this [01:09]. I’m going to open this [01:10].

DNN, it’s a swing trade. The calls don’t expire until April. You can see it’s trying to get back up. I really want to see it break through this [01:27]. If it can get above this [01:29], it can really go. That’s what we want. Yesterday, at one point it was up 14%. I was like, oh baby, here comes $2. No, you see this line [01:45]? This [01:47] is an invisible line. I was hoping they could just gap it up. I’m worried. This is very strong resistance. We need to get above that.

I thought I drew a line on here [02:09]. We’ll go out to the year-to-date, maybe do the weekly, zoom out. This [02:56] is an area of resistance. Multiple times, it couldn’t get above it here [03:03] since 2014. Now, we’re here [03:14], but I would love to see another move like this [03:18]. It came back, and then it went up again. I would love to see almost $3. Come on, DNN, just give it to us.

It’s a breakout from here [03:52]. It came right up to that line [04:02], the resistance line at 169, 170. One attempt, second attempt, hopefully this is the third attempt, and we can get through it. Nice action, though. So far, I like what I’m seeing. Even from back there [04:36], you’ve got this [04:39] thing going on. I like this [04:52] channel. We’re still pretty good there [04:57], intact. Get above it. You can see $2 today. That’s just something to know about DNN.

GSX is a little down pre-market. CSTM is a lotto trade, so very small position for me, 1%, expires this Friday. PLTR expires this Friday. XPEV is a swing trade. GTE is a leap year contract. Those don’t expire until 2023. GSX is another swing trade. We’ve got three swing trades, one leap year, and two weekly expirations. I feel like that’s a nice little mix. You want to mix it up. I don’t feel like you should be completely centered around swing trading, or completely centered around day trading.

BA looks good. I like the 220 strike price if we can do it. You know what happened to us last time. We were up 200% pretty quick. Yeah, BA looks good. It’s a market trade. If SPY goes down, then everything goes down. BA, I’m looking at . NVDA I like for a trade, probably the 620s expiring this Friday.

AMD, the 93 calls, it’s coming up to some nice support here [06:58] too. Hopefully, that support holds and doesn’t crack. Get the 93 calls right here [07:08]. That’s crooked. I’m going to zero this [07:20] out. Everything looks low and weak. Here [07:39], if I go to the year-to-date, I’m going to show you guys this [07:42].

I even like SPY calls out of the open. Year-to-date, SPY is just stretched. We haven’t kissed the 20 MA in a while. On the daily time frame, see how it’s starting to round. See how it couldn’t quite get above that right there [08:22]. Now it’s starting to round down. You see here [08:30] on the RSI, Relative Strength Index, we haven’t had a pull back in a while. Just been in this [08:35] tight, choppy little band. Occasionally we pull back and then back up.

I really want to see 400. With this one [08:50], it was really obvious. Same thing here [08:55]. I’m looking at SPY, and I’m thinking to myself, hm, it could be another one of these [09:03]. Maybe not. Right here [09:12], this is an area of interest in terms of support on the daily. I’m looking at the RSI. This [09:26] is also another area, similar, pretty close. Even on the stochastic, it’s like ugh. We might pull back to here [09:34] and then back up. I don’t know. I think it’s going to be a green day.

I’m always bullish. I’m never bearish. I would be buying calls here [09:49] on the dead cat bounces. That’s fun. We can draw a channel if you want here [10:02]. We can extend this [10:14] out. Get rid of that one [10:19]. Get this one right here [10:22]. Then he likes this [10:35]. Then I go to the five day, go back and zoom back in. You know you can see a little better in the ten-minute time frame how it got above the top of that channel, and now it’s back down.

I don’t know. It’s going to have to be really careful today. It’s hugging it and then above it. No, this [11:39] is a good area for a bounce. Probably get the 392. Yeah, I like SPY for a day trade. I like NVDA and BA for a day trade. Swing trades, I think I’m pretty content right now with the GSX, the XPEV. I’ll keep looking. I use a lot of the time during the day, when the market is open, to go through a lot of names and look for just stocks that haven’t really made their runs yet, good entries, good setups like I always do.

We’re going to take a look at W. There’s nothing really exciting, nothing impressive for me. Just right off the bat, I don’t see anything that speaks to me.

I’ll see you in the group. Good luck today. Let’s have a nice, easy, relaxing trading day. See you on the charts and in the Slack.

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