The weekend can be difficult for a trader and/investor. Markets are closed and we can’t enjoy any action. That really should be an opportunity for us to spend the necessary amount of time to do some important research on new ideas and potential trades. Here’s what I’ll be watching tomorrow morning.
Old Favorites – $ CRSP and $DIS
Of course I’ll be keeping an eye out for 2 of my largest positions. $CRSP continues to stay above $65 after it’s recent run up above the $70 level. The recent move was quite aggressive and not quite sustainable in my opinion. I wrote some June 15th calls again my $ CRSP position to mitigate any pull back in the short term considering my entry around $20. I still like this long going into the next few months.
Wow, $DIS, will you please stay above $100 this time. $DIS is back above $100 again after it’s drop below this level last week. $DIS continues to consolidate in the $100 range without any real catalyst for direction. I remain bullish on the stock looking for a move above $110 into the summer. A break about the $115 mark could see this thing trend to year end. Assuming of course no more disappointments like the recent Solo movie (I haven’t seen it yet).
Will be Watching $ONTX
$ONTX came up on a recent screen last night. A bio play that moved off support on high volume last week. Might take a small position if it comes back down below $0.50 where it originally took off from. Stay tuned for more analysis.
Crypto, Crypto, Crypto
Other than some alt coins that I purchased late last year Ethereum continues to be my largest Crypto position. After the run up to $800 in May Ether is back down close to $500. Today saw a huge drop due to some potential crypto brokerage hacks and rumors of investigators prodding some exchanges. We need to hold $500 or I’ll be cutting this position quickly. If it holds $500 I’ll be holding this position long term and buying pullbacks on the way up (assuming we get back to trending).
What else am I watching?
Still have some smaller short term positions in $AAPL and $FB. It will be interesting to see if $AAPL can maintain some momentum if it breaks $200. I may also consider closing my $FB position that I accumulated around $150 in April.
What are you watching tomorrow morning…