All the stocks I recommended a few days ago are higher. AMD, AAPL, MSFT, JPM, IBM, DKNG, GOOG or UBER. If you got into any of them, then I would look on Wednesday to take profits. Take profits into strength. No need to chase it lower, as there are pretty good odds that while it may be volatile the stock market is at worst going to see two way action as it digests Tuesday’s substantial rally. The other thing to consider here if trading options is that it’s a long weekend coming up, so time decay is a factor. From here the strategy is to use retracements to trade in and out. Be looking to buy pullbacks into support and take profits into strength. Singles and doubles, not looking for homeruns.

Let an ex-Wall Street Insider do your homework for you. Use Joe Duffy’s uncanny market analysis to spot trades again and again. Check it out here

One new candidate on my list is SBUX as attached. Made a new swing low this week. If it was just a liquidity grab, stopping out weak long positions and attracting shorts, then it’s got good potential to squeeze higher. There are a few stocks like this that could be good on the next wave of buying if it materializes as I expect. 

Thanks,

Joe