Still holding out for another bearish play on FFIV. Looks like a high volume breach of $44.70 will sink it.
The biotech sector is one of the strongest tech sectors and AMGN looks well positioned to break higher on an uptick in volume.
JCOM's Q3 guidance was not very compelling given its lofty stock price. Although very thinly traded in AH, it did hit a low of $24.50 before recovering back up to $27.00.
LRCX has retested its broken neckline and looks ready to head south. On a measured move basis, it should fall at least another 10 points.Last night's watch list is still in play even though the pullbacks were deeper than anticipated.
5 comments:
Hi Glenn,
My sweet spot with respect to $ value is $20-100. If I post a trigger it's usually because it is a pivot point that has been in play in recent days. The FFIV trigger in last night's watch list is a good example. But the key is volume. Having said that, the LRCX short is trickier but we need to take out yesterday's low of $39.21 with conviction, if you know what I mean.
Jamie, couldn't you just smell the uncertainty in JCOM this morning? Crazy volume, huge price fluctuations - never a good sign in a situation like this. This was a great call and a good short.
Hi Chad,
JCOM was a perfect short on the gap fill.
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Thank-you and welcome!
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