Week of 03/08/2021

By iamtez -

Welcome back everyone. Hope you had a great weekend.

 

Last week was not very good in general for the markets. Even though stimulus is passed this weekend I do not think the downside is done. Infact I was really hoping for a green move as I wanted to load up on puts but it seems futures are already down. My watchlist is relatively short because I think there is still some room to go before we turnaround and I would rather be late than too early.

 

Below are stocks that look good to me for UP move.

 

BABA Mar 19, 2021 240c

This one should be relatively less impacted by what is happening here in US and has a good chance of bouncing to 240.

GOOGL Mar 12, 2021 2150c

If this dips to around 2050 with the market at open, then it would be good to get for a bounce. This was strongest one last week and should continue the momentum. I am not looking for this to go ITM but a move to 2110 is surely possible in short term.

LYFT Mar 12, 2021 65c

This is getting into breakout territory and if it opens red, would be good one to get for a move above 65.

 

Below are stocks that look good to me for DOWN move.

 

BILI Mar 19, 2021 100c

Chart looks very weak and move down to 90, possibly even 80 seems very likely.

 

I do see more that could easily move down but if we get a red open, then the downside becomes limited at least for a day or 2. So better to be little conservative for now to avoid losing on premiums.

 

ALWAYS REMEMBER TO USE STOPS AS PER YOUR APPETITE TO HANDLE LOSES.

 

Disclaimer: The views and opinions expressed here are my own. Before taking any financial decisions based on these, please do your own due diligence.

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