Christmas Eve Market Movement

Everything moved together on Monday, Christmas Eve. If you follow my blog, you know I like trading Alphabet (GOOGL). On Monday, Alphabet opened near the Friday low and moved up. It got up to 992 then came back to 982 which was the buying point of Call Options. It appeared to pause at 1000 before shooting up to 1010 (sell calls and/or buy Puts) and then came down from there. From there it retested the upside at 1004 and fell for the rest of the day. The last few minutes of the shortened trading day it fell hard near the opening price. Many other stocks fell lower like Home Depot.

Check out my commentary video below

Tesla Bottom

I failed to mention movement in Tesla on Friday. It was announced that

Tesla's newly hired accountant resigned Friday morning which drove the stock down big and it went down to 252 shortly after the market opened Friday morning. It rebounded quick and it was a positive sign when it did not go lower than 260 after the upward movement. This was a sign that the bottom was formed and it should be positive next week. It opened higher on Monday, dipped down some before going higher by the end of the day. I would expect to see Tesla's stock to return to the 300 mark this week as it closed today at $285.50.

Home Depot and Roku ran up more today and everything else appeared down except for canapy stocks that regained more than what they lost on Friday. FANG all opened higher and dipped lower throughout the decade. Apple is 10 points off the high and came down below 218 as I expected  Of the big tech companies, Facebook appeared to be the only one to hold most of the gain today.

Boeing was down a good amount today  I believe that it was sold off a little too much and expect if it should make it below 338 it will shoot much higher.

Tech Hit Hard While Dow Jones Moved Up

Micron led chip stocks lower as Amazon, Facebook and Alphabet went lower also. They dropped lower than yesterday, but appeared to have bounced off the bottom and I would expect a strong move up by next week. Home Depot and Boeing moved up as they seem to catch all of the money that was leaving tech. In the afternoon it appeared that money returned to tech as the big Dow Jones stocks sold off a little in the afternoon.

There were some big moves down that I expect to see a reversal in the next week.

• Alphabet (GOOGL) was 1269 last Thursday and today's low was 1263
• Amazon was 2050 2 days ago and hit 1945 today.
• Apple was at almost at 230 and was under 223 today.
• Facebook was 177 last Thursday and today 160.
• Micron was over 51 last Thursday and today was 44.

Micron appears to be the lowest cost of all of them with a Price to Earnings ratio under 5. Apple has proved to have a strong following since Warren Buffet investing in them so I don't know that it will drop further. These could go lower with more tariff talk over the next few days, but lately we have seen moves up despite tariff talks. If there were going to be a drop due to tariffs I don't believe that we would see as much upward movement in Boeing and Home Depot.

Alphabet is what I like to trade options due to the great movement. I found today's chart was similar to yesterday's, but looked to be the opposite from last Thursday. It appears to be a sign that tech is reversing as Netflix got an upgrade before the market opened. Nonetheless GOOGL moved sharply down from open and bounced off 1163, then moved up and quickly dropped to 1165 where it gained footing and moved above 1183.

On Friday I would expect to see a small movement down followed by strong upward movement for Friday. It could move down on Monday ,but I would expect to see large upward movement on Tuesday if we don't get it on Monday.

September Trading Down

Markets were closed in the United States for Labor Day on Monday. On Tuesday Amazon opened to another new high with news on entering the India market to compete with Flipkart. Amazon became the 2nd company to one trillion dollars in market capitalization. Boeing bottomed early today at 339.50 and went up 7 from there. AMD was up over 10% today as excitement is moving towards AMD and away from Intel. I find this funny when Apple computers ,Chromebooks and Windows tablets use Intel processors.

Retail stocks moved up as predicted today with Best Buy moving back above 80 and Home Depot moved sharply up within 2 points of it's all time high established back in January. Apple moved up a little which was nice to see as Samsung announced that they will be releasing a foldable phone this year. In the past Apple would drop on any competition news. Apple has shown a negative impact from iPhone announcements and that day is coming soon.

Alphabet (GOOGL) continued to sell off on Tuesday as it opened lower than Friday's close. In the first few minutes it went up from 1222 to 1228 and went down from there. Alphabet appeared to find a bottom at 1211 as it bounced off and moved up to 1221 before back peddling the rest of the day and found a new bottom at 1209.

Hindsight is 20/20 and I actually missed my exit point as it was found on the 1 minute chart which I had on my screen next to the 5 minute chart. As I indicated in my 1 minute chart and in past blogs that you should look for movements of approximately 10 points when trading Alphabet. Tomorrow is a new day with Facebook and Twitter testifying for Congress with Google being left out because Congress wanted a higher up instead of their qualified representative. I would expect to see some sort of positive news before the market opens for Alphabet where it will open 10 points higher and fall from there as the testifying begins.

How to Make Patients Pay Off Today

I am a big advocate for studying one or two stocks that have decent daily price movement to trade options daily. I follow Alphabet (GOOGL) closely and understand its tendencies. Similar tendencies can be found in other stocks, but I am comfortable with it's tendencies for trading.

Today it opened higher than Monday's closing price, but Monday it broke below the 1249 level that held the week of Alphabet's 2nd quarter earnings. I expected it to go down initially today and roar upwards after it finds a bottom. It closed Monday slightly below 1249, but opened at 1252 and pointed down quickly. It was so quick that it didn't come back to where it started the way I like to typically jump into a trade. It did find a bottom at 1240 where it retested a couple of minutes after 10am which made it perfect to buy Call Options.

Unfortunately I was influenced by last Tuesday's movement where it opened 10 higher and went higher right off the bat so I bought my Call Options too soon. Rather than sell at a loss, I decided to wait for the turn. The only problem with waiting is that what I paid for the Call Options when Alphabet was trading at 1252 I had to wait for it to get to 1256. I sold up slightly due to lack of discipline for not waiting for the bottom. This would not work well on Thursday or Friday as it doesn't have that kind of change in direction most of the time.

When there is a big drop with Alphabet, it moves in $10 to $12 peaks. What I mean is that it opened at 1252 and bottom at 1240. It closed yesterday at 1248 and peaked at 1260 although the tradable peak was 1258. Therefore you can use the price movement of the stock to measure good times to take profit it is in an extended overbought or oversold state based on the stochastic indicators.

In other news, Home Depot had a blow out quarter report before the market opened and it went up in the premarket trading and fell sharply during the market session  This stock will go up over the next couple of days as long as Macy's and Walmart don't disappoint over the next couple of days. 

Macy's hit a new 52 week high today. I find that when a company runs up before reporting earnings, it receives too high of expectations and will sell off after the report no matter if the earnings is good. With it running like this, I bought a Put for protection on the downside and expect to buy a Call Option after it finds a bottom if the report is good. Nvidia is following a similar pattern, but the problem is their options sell at a hefty premium and the report is due after the market is closed on Thursday which doesn't give you time to anticipate the direction. 

Tesla appears to be losing stream after last week's Tweet by Elon Musk about going private with the company stock. I feel it is going to be in a tight Trading range Unless we get some market altering news. 

Everything Good but Banks Today

• Today the big banks reported earnings before the market opened. Wells Fargo disappointed  Citigroup was lame and JP Morgan was held back by the others despite producing great numbers. Retail stocks were up lead by Home Depot and Best Buy. Boeing shot up, came down to where it started and ran up for the rest of the day. 
  
• The FANG stocks were good with the exception to Netflix like yesterday. Amazon and Alphabet (GOOGL) opened above their all time high that was set yesterday. Amazon was consistent going up for most of the day while Alphabet went down initially and made a turn at 10am to shoot higher. It took another turn about mid day that would cause it to go negative but turn around at 1200 and finished the day positive. There were some nice trades that you could have profited from if you followed the technical indicators as shown on the chart below.
  
• Amazon Prime Day is next week and I would expect to see Amazon and Alphabet go higher on Monday and Tuesday with a possible turn around on Wednesday afternoon. I think Netflix will reverse higher as it seems to do every time someone has something negative to say about them. 

Dow Jones Finally Closed Positive

• I have decided to only do one paragraph summary of the market and the rest of what I saw as being great option trades. The Dow Jones ended its losing streak lead by Exon, Chevron, McDonald's, United Healthcare, Verizon and even Boeing got in on the action. Oil took the headlines on Friday with the big Opec meeting where they discussed shrinking increased production. It doesn't make sense to me either, but it drove oil stocks up. 
• Tech stocks opened higher and quickly went down. Put options were the best to own for the first hour of trading on Friday. I bought Put options on Tesla with a strike price of 340 and sold them too quickly as Tesla went down past 335, popped up to 340 and fell further down to 332. 
• Alphabet (GOOGL) opened above 1171 and went up to 1175 before coming straight down where it bottomed at 1160 (1159 and change) which is where I bought Call options with a strike price of 1165. I noticed that the stochastic indicators for 1 and 5 minutes showed it was poised to go up. It showed some resistence at 1166, but ended up going up to 1174.98 and going down from there. Once again, the range on Alphabet on Friday is typically dertermined in the first 15 minutes. The turn around time almost every Friday is 10:45am. I bought my Calls around 10:40am and clearly sold them too soon.
• I took advantage of Home Depot as I notice it typically goes up Thursday afternoon and Friday morning. It looked a little hot on Thursday afternoon so I was expecting it to go down. It went down to 199.20 and took off to the upside. I prefer to buy Call options at least one week out when day trading a lower cost stock like Home Depot so I bought 10 HD Calls with a strike price of 200 set to expire next week. It did take off and went to 200.50 when it quickly changed direction. I sold my Calls at that point for a $400 profit.
• Next week is the end of the quarter and I expect to see the banks run up starting on Monday as they are far too low. When you follow a stock to trade, you want to follow its cousin to a point to give you indications of what to expect in your stock. Amazon ended down hard which indicated that Google might have more to go down on Monday.

Market Down Again

• The Dow Jones was down again today for the 8th straight day. The Nasdaq gave back most of yesterday's gains. Retail stocks looked up lead by nice gains in Best Buy and Home Depot. Walmart was even up decent today. The move was based on a new rule that will require Amazon to collect sales tax from sellers. Amazon led the FANG stocks down including.
• FANG stocks of Amazon, Netflix an Google were down big today. Amazon and Google closed near their lows, but Netflix made up most of what it lost in the morning. Facebook is still running strong due to the new video sharing options on Instagram.
• Mad Money's Jim Crammer says Intel is way under valued even with the CEO scandal. With the positive earnings from Micron (MU), I would have expected Intel to power higher also. It will over the next week and I would expect a new high by Intel's next earnings report.

Wednesday Market Recovery

• The Dow Jones opened higher, but ended up trading flat for most of the day. GE didn't help and Boeing was marginally better. The good news was the news that Germany is going to eliminate import tariffs on automobiles. This appears to be a good sign for the markets and I would expect that we will get more good news on Thursday that will spur the markets higher.
• I don't know that the Nasdaq has much room to go higher as Amazon, Netflix, Facebook and finally Alphabet (GOOGL) hit new highs on Wednesday in the noon hour. It was around the same time that President Trump was speaking about the illegal immigrants. Unfortunately the FANG stocks are so high that they may hit another peak in the morning before falling hard when there is a rotation out of them into the big industrial names like Boeing and Caterpillar. 
• Alphabet already started selling off after 1pm. Tesla continued its run higher throughout the day. It actually looked straight up from 2:30pm through 3pm.
• Home Depot went down, then up, then back down again. It appears to be bouncing off the 198 level and I believe it will do it's regular Thursday afternoon through Friday morning run up. I will look for a draw down a little further after a spike higher in the morning. That will be the Call option buying opportunity on Thursday to sell around 10am on Friday.

Market Drama, Dow Drops and Tariffs, Oh My!!!

• We woke to news that President Trump was going to impose tariffs on China again. After what appeared to be a successful meeting with North Korea's Kim, this might be a surprise that the tariff talk is heating up again. The market dropped on this news from open.
• The tech stocks had nice runs the whole week even despite the rest of the market being down on Thursday. Friday they remains pretty even. Some were down and some were up, but Apple appeared to be down a little more compared to others. Apple was going to make all new phones with the high resolution OLED screens. Due to higher priced materials increasing the price of their phones, Apple has decided to keep the course unchanged and remain with their standard LCD screens. I doubt that means they will drop the price of the new phones as they will continue to try to get $2 out of 3 quarters.
• Boeing dropped hard in the first hour of trading on Friday. It had a nice run up from 2:30 to 3pm only to give most of it back to end the day unchanged, but down for the week.
• Home Depot had it's regular Friday rally first thing in the morning. It appears to be the one stock that you can load up your Call options on it's low from Thursday  and sell by 10am on Friday. Sure it went down, but not below where it closed on Thursday and went back up higher.
• Return to retail was lead by gains in Best Buy, Macy's and L Brands. I like these for their high dividends and positive track record this year. I have found that when you have these in your portfolio, they are good to sell Call options when they hit their relative highs in about 10 days.
• The same is true for Verizon who went down with AT&T over the past couple of days. When Verizon hits $49.50 it is good to sell a Call option against your position. At the same time a speculative person would consider buying a Put options to sell when it hits $47.50. I don't know if you will be that lucky because if Verizon follows AT&T, the bulls will run up the price over the next couple of weeks since the AT&T acquisition of Time Warner is going through right away.
• I found that JP Morgan bottomed this morning when it got down to 106.27. JP Morgan has traded in a range between 106 and 110 over the past month. It ran up past 108 after that and came down a little. I expect it to go up more this coming week as interest rates will settle in. You might get another chance to get it at 106 next week, but not likely.

Tech and Media Up, Retail and Banks Down

• With the rise in the Fed Funds Rate you would expect the banks to be up. Interest rates actually dropped this morning and took the banks with them. JP Morgan actually dropped below 108 and bounced up some from there. 
• Boeing spiked up this morning shortly after the market opened to 367 and then fell sharply to 359 where it bounced up. I would expect a bigger bounce for the day on Friday, but don't believe I will be trading it.
• FANG participated to the upside today with Amazon, Netflix and Nvidia hitting new highs today. Alphabet opened up, dipped to where it opened and drove higher until 1:30pm when it gave back 10 points to go up another 5.  I traded the movement from 9:40am to 10:20am for a nice gain. 
• I heard this morning that Amazon Prime membership might have peaked and is feeling pressure from Walmart. Amazon is so much more that just shopping and apparently the market didn't believe that as Amazon hit a new high and Walmart faltered with the rest of retail.
• A retail name that did not falter much was Best Buy. Best Buy trades like a tech on some days and like a retail on others, but more like a tech. 
• Macy's, L Brands, Home Depot, Walmart and almost everything else retail related was down today after there was a very positive number regarding retail price index this morning at 8:30am. Verizon hit a nice bottom around 47.30 where it went up from there. Home Depot hit a bottom around the same time at 198.25. I would expect Home Depot to have it's regular Friday morning run tomorrow and hit 202 by the end of the day.
• Towards the end of the day there was news that the Department of Justice will not challenge the court ruling allowing AT&T to acquire Time Warner. Disney, Comcast and Netflix were up nicely. According to a chart maker, they see Netflix will hit 415 soon.

Let the Mergers Begin!!!

• The biggest news for the day was the Fed Funds Rate increasing .25% and Fed Chairman Powell's speech about the state of the economy. The rate increase was expected and the market traded like it through out the day. Most things were up, dropped at 2pm when it was announced, went up during his speech and dropped hard for the last half hour of the day. Based on this reaction, I would expect the market to drop a little more on Thursday and turn around mid day
• Boeing dropped sharply more on news that an airline was considering dropping their airplane order. This should not be a big deal as they have a long list of customers waiting for new planes. I would expect to see Boeing move up for the rest of the week as it was over sold.
• Tesla was up and down for the day and back up again. After the market close it
  
  was announced that Elon Musk is going to buy more shares. He is already the largest shareholder and he will own around a third of Tesla. I would expect to see shares jump on Thursday on this news.
• The banks were down in the day and were the first to spike when the interest rate was announced at 2pm. They were also the first to fall in the last hour of trading. I would expect to see them lead the way in the next couple of days.
• Home Depot was down sharply at open and fell below 200. When ever this happens it should be bought with Call Options. It still ended the day down, but still above 200. Home Depot typically has great Thursday afternoons and Fridays. 
• SunRun was up again breaking through the 14 mark. Its PE ratio is low and has more run to move up under the sun. lol
• H&R Block was a great buy if you got it at $24 or less. They moved up to 24.70 during the day which was good movement for this stock that typically has little movement. Like Macy's and L Brands, this was a great buy based on earnings, dividends as the depressed forecasted earnings drove it down yesterday afternoon. I would expect to see it back to the 30 range when a couple of analyst upgrade it in the next couple of weeks. I would not purchased Call options on it unless they were 2 months out. Given the low volatility, they could be purchased at a great price.

Tuesday Boring Market Woke After Close

• Around 5pm on Tuesday the AT&T purchase of Time Warner was ruled on by the court and allowed to proceed. This drove the stock of Time Warner up and AT&T down. Any company that is considered a take over target shot up in the after hour trading session on Tuesday. Netflix was seen as receiving increased competition and went down in the after hour session also. 
• Fox is the next merger target for Disney and Comcast. Disney had an offer for Fox, but Comcast has a higher all cash offer. Those stocks should rally the next couple of days.
• Home Depot continued its run higher and so did my favorite solar company SunRun.
• Tesla ran up big only to change courses to go lower around 1pm to the end of the day with news on lay off of salaried management team. This should be positive as they are restructuring to save money and when that have not made a profit, it only makes sense. Tesla still ended the day where it started which was up 10 for the day.
• Other than that, it was a boring day waiting for Tuesday's Federal Reserve Board announcement.

Monday Ups and Downs in the Market

• With so much news happening this week, the market is going to react. With optimism for President Trump meeting with North Korea's President Kim drove the markets up some on Monday.
• Tesla opened up, took a mid day breather and went higher. Tesla will continue to go up for the rest of this month despite any negative news that doesn't have to do with production. CEO Elon Musk says they will produce 5000 vehicles in the last week of June. This production figure was promised multiple times for the past year and a half. If they don't meet it this time, Tesla will plummet in July.
• Alphabet (GOOGL) jumped up after 10am to hit 1048, but gave half of its gains back after 2pm. I have noticed that Alphabet would go up for a week and down for a week in the first half of the year. Recently in the past couple of weeks those changes have happened more rapidly in less than a week. Last week Alphabet completed a 5 day run mid day on Tuesday and went down for the remainder of Tuesday through Friday morning around 10:45am. Since Friday morning it has gone up.
• Boeing has tread water moving between 369 and 374. When it dips, there is an opportunity to buy Call Options and be out within a couple of hours with nice gains.
• Home Depot continued to go up on Monday. It was a focus of CNBC's Option Action on Friday with expectation of breaking out to a new high by the end of July. At it's current pace that will happen by the end of the week, but I would expect a pull back before then. Right now it has broken 200 and doesn't appear that it will trade below 200 again.
• AT&T's purchase of Time Warner will be ruled by the court around 4pm this afternoon. We won't get a market reaction until Wednesday. This is a big deal for Disney, Comcast and Fox as the Fox sale competition increases.

Friday Market Up Again

• Once again there was news about Apple phone sales are slowing because suppliers have announced they are receiving less orders from Apple. I find this funny since we have an idea of where they are made (China), but Apple is secretive and uses multiple suppliers for so many parts. Because of the news Apple dropped 3 points at open and recovered some during the day.
• Home Depot and Boeing dropped at open with everything else including Alphabet. By 10:45AM everything changed direction and moved up. Home Depot has run up strongly this week from 190 to 197. I would expect to see it give back some Monday through Wednesday and have a very strong Thursday and Friday. Wednesday afternoon will probably be the best time to buy Call Options.
• Alphabet (GOOGL) got sold off by the end of the day and completed it's 4th day in a row of downward performance. So far this year, Alphabet would have one week where it changes direction from being down to moving up on Tuesday and have a big Wednesday through the end of the week. The opposite is true as it reverses direction from the upside on Tuesday as it did this past Tuesday and dropped from there. The movement from the prior week was from 1065 to 1162. Half of that would put it at 1013 as a floor to look for it to rebound to new highs and that should happen Tuesday morning. 
• This week Twitter graduated and is now listed on the S&P 500 and has gone up all week. Who knows what is going to happen next week with Twitter, but there is a lot of news happening:
• President Trump meeting about trade this weekend.
• On Tuesday is the summit with North Korea.
• On Tuesday there will be a court ruling on AT&T purchase of Time Warner.
• The Federal Reserve Board is meeting on Wednesday and we will have an announcement at 2pm on inflation and if the Fed Funds rates will be raised. Given the strong start to June, I would expect the rate to be raised and interest rates to start going up on Monday.

Dow Up, Nasdaq Down!!!

Boeing broke through for another new high at open and then went down and didn't come up for air much today.

Home Depot led the Dow Jones Industrial Average on Thursday as it ran up until 10:50am then fell sharply, but did end the day higher. I would expect to see more of the same on Friday. Verizon also made a nice more up today to break through 49.

Tesla broke out to 328 and fell for most of the day after that. It would have been a good day to buy a Put Option on them around 10am. Every day there is more news of another crash involving a Tesla, so I would not be surprised to see them dip again through Tuesday. The pressure will be on for Tesla to deliver results by the end of the month when Elon Musk says they are going to produce 5,000 cars in the last week of June.

Amazon, Alphabet and most other tech stocks sold off sharply today. This appears to be typical trend after so many hit new highs. I would expect this to continue through Tuesday. Buying Puts on Friday and Monday might be best. 

Banks sold off also today after starting the day up. They still finished up, but marginally.

Exciting Start to the Week in the Market

• Apple is holding its annual developers conference starting today and this time the stock didn't drop. It actually hit a new high again. Amazon hit a new all time high as it was up the whole day. Alphabet was up for most of the day also. Facebook didn't lose too much after the new report on the sharing of user data.
• Microsoft hit a new high with news of their purchase of Github.
• Nvidia hit an all time high also today. Netflix was up, but Micron was not. 
• Almost all retail stocks were up today including Macy's hitting a 52 week high, Home Depot gained 4 points, Walmart and Best Buy were up too. 
• Boeing was up with positive news before market open which appears to be a reoccurring theme, but it struggles to hold on to its gains.
• Verizon, the bank stocks and oil stocks were down today. 
• Tuesday is setting up to be a day of retraction and I am sure Trump will have something to say for Wednesday to create a drop. The market is going up as the Nasdaq hit a new all time high today, but there appears  to be a reason every week for a drop.

Tuesday Selloff... Again!!!

• Everything opened down and went further. Oil dropped sharply due to more barrels being released across the world. Interest rates dropped sharply due to overseas risk specifically in Italy and therefore bank stocks dropped sharply. 
• Netflix hit an all time high today despite still dropping some during the day. 
• Home Depot dropped below 185 and I would see this as being a great buy for Call Options on Wednesday morning. Walmart also appears to be bouncing off 81.
• Other than that, it was a little boring day. The trend appears to be sell off from Monday highs and continue through Tuesday. Since Monday was Memorial Day, we had more selling to do to catch up with the world on Tuesday. Wednesday should be a great turn around day as we are the United State of America, not Italy!

Investing in the Ups and Downs This Week

• Interest rates and oil hit highs at the beginning of the week only to drop by the end of the week. Bank and Energy stocks rose and fell the same way this week. They should have a nice bounce starting on Tuesday.
• Boeing hit 365 on Monday afternoon and fell back to 351 on Wednesday where it bounced to 359 and finished the week there.
• Wednesday and Thursday looked very similar. Morning drops were reversed from noon on. Wednesday news was from the Federal Reserve and Thursday was from President Trump and the tariff front.
• Netflix (NFLX) was a huge success once it was announced they will have a special on former President Obama. It shot up on Wednesday and Thursday and ran out of steam on Friday while still finishing higher. I would expect it to hit 375 by the middle of the week before coming back.
• Home Depot (HD) came down on Monday and Tuesday and bounced off 175 to go higher, but it didn't run away. It appears that it has a new level to bounce off at 175 as Walmart bounces off 82. Walmart is a hold for me as the further it goes down, the more valuable the dividend becomes. I feel Walmart is one of the only companies in the US that is using the tax break to get bigger rather than wasting it on stock buy backs. Walmart is a growth story that will be written about in the next 5 years.
• Best Buy (BBY) beat their earnings report but gave a poor outlook and disappointing online sales. It fell from 79 to finish the week at 68. I think it was over sold and would expect a nice bounce next week to 75.
• L Brands (LB) also beat on their earnings report and it sold off in the after hours due to dialing back earning expectation, but they still expect to earn around 10% for the year. I picked up 100 shares in the after hour session for 32.06 and it opened there on Thursday then took off to over 35. The dividend is strong and it will stay in the portfolio and will sell call options after it settles.
• I used L Brands to replace Roku (ROKU) in the portfolio because the Roku didn't have much movement and doesn't have a dividend. So I sold a 35 strike price call against it when it was at 34 on Wednesday. It was announced on Thursday a huge short seller is now long in Roku so it blew threw almost to 39 by the end of the week. 

Tuesday Selloff

• Auto stocks were up (except Tesla) on news that China was going to lower tariffs on imports. Who knows if they will stick?
• Banks were up when everyone else was down from the vote on the restrictions removed from the financial crisis of 2008.
• Everything else started higher and ended lower. Home Depot (HD) moved down quickly as it was announced that the CEO of JC Penny's is leaving to become the CEO of Lowe's who reports earnings tomorrow morning. I see this will create further opportunity for Home Depot after Lowe's earnings is reported. I would expect Home Depot to go further down and reverse course Wednesday around noon.
• Boeing moved down further due to the trade talks or just cooling down. Either way I thought it moved too fast last week and Monday. I would expect it to go further down on Wednesday and change direction around noon also.
• Micron (MU) moved up yesterday and further after the market close on Monday. It held on to the gains while Nvidia went further down on Tuesday.