FriscoTrades

FriscoTrades

Closing the week red again. Bears seem to be in total control, charts breaking down across the board (less VIX/ Bear Funds of course) SPX less than 3850 (-20%) funds go officially "Bear Market" 3700 Capitulation levels Less than 3500 massive de leverage , margin-calls , and breakdown We need one of those "bear market rallies" I keep hearing about ... 7 red...

FriscoTrades

Whale opened 500 JAN 100 puts and upon checking, noticed this chart looks pretty bearish IMO. I'm swinging JUN 100 puts tight stop as I'm looking for a quick flush now that support has been breached. Any squeeze up is a better entry to short IMO, this chart is pretty ugly. Gap Fill below is target in the short term at 103.16

FriscoTrades Updated 

Lot of June 3 calls hit the tape on TSM, I like the levels here and like the probability of upside in the near term. First PT $96, close below 87 invalidates idea I'm long 95 6/3 calls already up 33%, with stop just above break even.

FriscoTrades Updated 

AMC saw bullish Call buying and Put writing today, currently trading +2.7% afterhours . I followed with the 5/20 $13 calls. Bullish confluence in RSI indicator First line of resistance $14.8/$15 zone will take profits there, with a break to upside implying a further move to $17 zone 10 day MA (blue line) Lot of supply overhead, move will happen fast where I...

FriscoTrades Updated 

Market hasn't favored the breakout stocks but PSX has continuously shown strength and finally broken out from a nice triangle consolidation pattern since 2020. Livermore effect with 100 magnet and then some if trade plays out. Nice volume uptick past weeks and RSI bullish confluence I'm long JUN 100 calls , stop at 50% premium.

FriscoTrades

XOP looks like it's rolling over, or at the very least consolidating and heading back to sub 130 after rejection from trendline resistance and 30MA . Whale trade short, bearish divergences on indicators. Price target sub $130

FriscoTrades

Despite the recent selling JKS continues to show signs of strength, and looks like it wants to breakout of this triangle pattern soon. RSI bullish confluence Whale trade option flow and price above 30wk MA has my bias to the upside. An idea would be to follow the whale or go long calls with another OPEX - I'm in JUN 55 calls Watching for rejection as it...

FriscoTrades Updated 

Pfizer has ER next week and 5/20 calls sweeping today Technically it looks like we can get a run up to ER , as PFE is at trendline support and possible "fill out" of the triangle pattern Any run up will capture some gains, will trim position and leave a few runners for ER. Sweeps were 55.5 and 57 strike which are pretty far out the money, worth noting. Could...

FriscoTrades

An important chart give the size of Apple market cap wise, and a brief RSI analysis on the weekly Since 2018, the RSI has dipped below 50 a handful of times (8 including this time give or take). Of those times, we can see the price action to follow. So boils down to is this NOV 2018 price action or all the other times ? From an expected return standpoint, I...

FriscoTrades Updated 

Call me crazy but I still think there is more upside to this epic bull run. April and May will critical months to see if we get the melt up to JUN and beyond. So long as we stay in the upward channel I'm long, with another dip just an opportunity to load more. MACD indicator and Moving averages certainly aren't screaming sell the farm. First target is...

FriscoTrades Updated 

Went long 50 JUL SLV 23.5 calls. Nice looking chart and I like the R/R on a move to at least the top of the box. Will reduce the position there and manage on price reaction. Mental stop just below 30 wk MA. Nice consolidation with accumulation type buying, cup and handle with a good retrace from the JAN to MAR move, I think it's going for next leg...

FriscoTrades Updated 

Technically speaking, in the recent term SPY has just now retested the mid March breakout. With high Bearish sentiment, even if we don't see ATHs , I think we do have a "bear market rally" in the near term Of course, a breakdown here invalidates the idea, but certainly wouldn't be going crazy big adding to shorts down in this hole. I like the R/R of this...

FriscoTrades

Closed TMUS calls up about 40% and flipped to the short side. I heard Cramer was pumping this week, that alone should have been my signal, but technically on the weekly it seems to have been rejected at 135 resistance and a volume uptick this week Momo is also turning and seeing Bearish confluence in the MACD First PT $123 with a possible move down to the...

FriscoTrades

CPB had some sweeps and block call flows yesterday and the cart looks good IMO with a nice gap above, strength and volume uptick. Trader went 5/6 48 calls 300K premium and 5/20 call sweeps 48/49 strike. I like more time, so I'm long 5/20 49 calls, swinging and singing baby Target would be gap close 48.78 but will start trimming calls on the way . Cheers

FriscoTrades Updated 

I've been long WOOF from previous post, and added to position today as now WOOF is coming out of a rounded base and closing above the 30 week MA (orange line). Now, so long as WOOF closes above 30 week MA, I'm long and will add. What I'd like to see is the 10 week MA (blue line) cross and for price action to sustain above to new highs. 22.8 and 25 zone are...

FriscoTrades

It looks like they are coming after the generals next, i.e. large cap FATMANG names in this "pull back" or bear market (whichever you prefer). Technically speaking although Apple has been following this upward channel beautifully ( personally I really love this chart from TA perspective), IT IS CONCERNING for the bulls with a close below the 30 week MA....

FriscoTrades

Started a LEAPS position with JAN 2024 25c on Callaway Golf. Technically at good support (which was previously resistance), and appears to have bottomed. Will add upon breakout of dotted down trendline. More conservative idea would be to wait for breakout and confirmation, hence why I only purchased a few contracts, and this is a long term idea. Keep an...

FriscoTrades Updated 

ASIX with a close above the resistance line at $50.5 zone and support at 30day MA , leads me to believe we turn higher after cooling off from the 33-57 leg Oscillators are turning with good volume and relative strength in a weaker tape market. In the resin / fertilizer basic materials space, LWLG another name also with a bullish chart IMO. Keeping this one...