Hope everyone had a great 4th of July Weekend! As many of you may have noticed for Fridays trading session that it was quite slow during the mid day, and even into the close. What does this mean and why should you care? IT’S SUMMER TRADING TIME. This will usually bring about the importance of being ready early in the morning with a few ideas out the gate and be ready to go, if you are not, then you will find yourself scrambling to find a play by the time it is too late. During this time of the year I find myself wanting to get out of the house more, go to the gym more and just enjoy the AZ heat a little more. Anyways here is what I am looking at for Tuesday.
TWTR – Getting the spidey sense that something is going on with this one, usually have a good read about these types but we will see. Lots of calls bought Friday on Twitter so I joined that party. I rarely trade options but find it to enjoyable when I do. I expect this to have an open purely depending on what the futures do by the open. I want to scoop any weakness near the 17 area and then trade accordingly.
TWLO – Fully expect this one to continue much much higher in the coming days, as you can see on the chart 30 is my big number of interest. I will want to start taking my swing on this likely starting Tuesday and go from there. Open weakness near the 32 area and plan on scooping dips for a consolidation close.
CLBS – Feels like this may have some sort of bottom bounce provided the .60s can hold, just keeping this on radar for the morning and possible gap and go.
VUZI – Looking for the 8.50-9 push and peak out with plans to start in on the short side once it has defined a lower high and lower low on the day.
MEET – Keeping this name on radar, have a feeling its just trapping shorts up here, however if 5.50 continues to peak out, ill look to scale heavy on this one. Just take a look at the chart history on this to give you an idea of how hard this can pull intraday. If 5.50s base and hold, they can easily send this to $6 so be weary of that.
XBIT – Weak open on 23’s and then ramp higher, however if gap open and rush, will look to scalp this one on the short side.