The market held up well today, but I’m seeing clear heroes and zeroes. Let’s look at some of my favorite run into earnings setups in AKAM, MSFT, GOOGL, and AAPL, as well as some not so hot tickers I’m going to avoid for this trade. We will also discuss defense and semiconductors.
Getting an early edge using the clearing range breach, we were already bearish going into the US/China news. Having directional bias is the key, and I explain how to do it in this video.
Despite the on-again off-again US/China trade narrative, the tops in the broader averages are holding. I also have my eye on a few softs.
I looked at FB several weeks ago and thought it was ready to break down. It then promptly rallied for 3 weeks, but setup a nice short for us on Tuesday and may have more room for bears to step in.
I’ve been focused on AMZN this week, in a pattern I thought was ready to break down. After getting through “Alexa Day” the selling became more relevant. Let’s review this trade, our UBFly in SHOP, and everything else that’s been a part of my portfolio.
