Good morning, traders. Good morning and happy Thursday. Let’s get right into the charts. Am I the only one who’s a little tired from all the holiday stuff, the short week and family stuff? Anyway, let’s get right into the charts, FCEL. I’m going to blow this [01:12] up for you guys so you can see. Good morning, for all my members who are tuning in. Good morning, happy Thursday, hope you guys are all staying safe with your loved ones, free from any kind of bugs, or colds, or viruses.
FCEL, Fuel Cell Energy, Inc. com, a lot of pre-market volume, which I like seeing this. This is a good indicator. It’s in this [01:49] channel. I’m going to wait for a break of the pre-market high, or I might even buy here, [01:57] calls with the 14 strike. The options aren’t really that great. They’re monthly options, not weekly options. We could see a price target of 16 today, or at least 15.50 if this trend continues. Some sort of deal with the stimulus.
BABA, surprisingly enough, I’m thinking about going long with some calls. You can see [02:33] it’s holding this big picture long-term pivot. We’ve got this high pivot from 2018. These pivots work, so kind of holding it. You can see the RSI is completely oversold. Everything’s stretched. The trend is stretched. The MACD is stretched. We might get this crossover. I’d like to go long, BABA, and see if we can get a gap window filled today, which would be pretty much here [03:03] at this 247.80. It could even be a little conservative. Go to the 245 or 246. That’s a good area, 246. This would be considered a gap window fill.
If I zoom out a little bit [03:34]. I’m on the ten-minute time frame on the day. Look out below. I just don’t see it going down any much more today, I mean, holding this [03:47] line. Now, I could be wrong. We could open and just dump. It’s hard for me to believe that giving the indicators in what I’m seeing. We’re 10% down on BABA. If I take the 255 to 230, these things are like rubber bands.
I’m missing an indicator. I’m missing my 50-day moving average. I actually just use one moving average. I don’t like to have too much clutter. I like to use the 50-day moving average, simple moving average, out of the box setting, type simple, close, 50-day off-set, and the color red. We’re on the ten-minute time frame. I can go to the five minute. The 5, the 10, and the 15-minute time frames I really like to use the most. We’re going to have to come back and kiss this [05:23]. We’re pretty stretched.
I’m looking at going long BABA. FCEL, we covered. SAM, I just want to keep an eye on today. I like this stock. Samuel Adams Beer Company, they own Truly. We could see this 10.66 again today. I’m going to be looking at going long if we get the dip buy opportunity. I can bring this [05:59] up a little bit more, flip it there [06:01]. We’re above the 50-day moving – I like to wait for this [06:11] to touch the 50, to go long. You can see [06:14] we went below the 50 yesterday, touched here [06:17], and sure enough this was grinding our way back up off this support area.
With these things, you have to play around. Each doc is different. They behave differently to the 5, the 10, and the 15-minute time frame. Ten-minute time frame looks good. I might have to get some calls coming out of the gate. I want to see something here [06:51] on SAM. Anyway, I like that we had a gap up yesterday, push up, pull back, and can we get a continuation now is what I’m looking for.
Amazon also is a stock on watch, a little expensive on the options side for some of you traders, but I like where Amazon’s at going into Christmas. I’m going to check on this [07:33]. If we get here to this support area, I will be going long with some December 31st, probably get something around the 3200 even, or 3205 calls. What’s the value of that one [07:58]? Let’s look at Square. Square looks good, might have to get some calls here [08:13] if we can break this pre-market. If we can get above this area here [08:20], I might be interested in going long.
It’s the holiday’s guys, light volume on SPY. It’s a mixed bag of shit today, to be honest. We’ve got some stocks green, some stocks red. It’s a hit and miss day. Today’s not the day you want to be a hero. Risk management, small position sizes, 1 to 3% your total portfolio. If you have a small account, 10% max. Take profits. If you get a push up, sell. I don’t care if it keeps going all the way up to this 214. Big deal, could have made more, but the opposite’s happened many times for me in trades and in instances.
I’m up, I’m green, I don’t sell. Then they just slam it, kill the premiums on the weekly expiration options, and then it’s just down and sideways the rest of the day. Options expire worthless. I was up. Take the green. You’re green 10, 15, 20%. You have to start thinking about taking some profits. Become a robot. You see green, sell. You see green, sell, just a little bit of words of wisdom. Then if you’re up, if we’re green one, two, three trades, I like two or three really good trades on a day, sometimes one if I see something, if I don’t see anything.
Every day’s different in the market. You have to just trade accordingly. Risk management, it’s the number one rule of training. I feel like a lot of you guys need reminders, which is okay. It took me a while to get the memo down. You see green, sell. Don’t wait for me to post. I’m out. Get into the habit of locking it in.
That’s all I’ve got for you today, guys. Let’s have a good day. It’s a short day. I’m hoping for just some nice, easy set-ups, trades. Like I said, let’s have a great day. Let’s trade accordingly. Let’s trade what we see, not what we think. Hopefully, it’s just going to be a nice, short day in the market. Guys, let’s just have a good, easy day, find some quality trade setups, and then enjoy the rest of our day with our loved ones and family.
