New Stocks On The Watch List

Posted by Joe Duffy | Jan 8, 2024 | Joe Duffy's Trading Advantage | 0 |

We booked STARBUX on the early plunge Friday, securing a nice gain on top of TSLA and ARKK from earlier in the week. Still short CISCO from $50.05 stock price via the March puts. I am adding Las Vegas Sands, Pepsi, and especially SQUARE to my short candidate list for next week. Not sure if or when I will pull the trigger on these till I see the market unfold.

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But last week’s action was about as bad as it could be …. everytime i thought the short term setup favored a rally, it could never gain more than a couple hours of traction. There is real risk this market will go straight down just as fast or faster then it went up. Of course there will have to be something that “caused” it. But that’s just the narrative. Market in my opinion is very vulnerable. Yes, of course it could always save itself, but I doubt it.

Thanks,

Joe

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Joe Duffy

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