General Outlook:
This week is likely to head lower. At the time of writing this the market is trading lower on the futures but bids came in so we'll see.
That being said $2520-$2550 on SPX futures will be hard to trade above so the pressure on the market is lower this week until it's not. I really need to see a strong weekly candle on the futures to really get bullish on anything, so, until that, the bear case is here.
As with last week, the plan is 1-5 day trades, flipping what I can. This is an active traders market so setting profit targets before has helped out.
Going forward I am going to give out a few free ideas and general analysis on the blog. In addition, I will post the monthly P&LS for directional and non-directional portfolios.
Thanks for following so far. If you want to trial I put together a Small Account Service ($1K-$5K) for those of you learning or with smaller bankrolls. The max trade idea is set at $300 and the trial fee is just $5.
You can try it here.
Of course, if you have a larger trading account and can afford to sell premium, trade futures options or are not afraid to buy $20.00 call options then there is the Premium Trial here.
Ideas for The Week:
AAL - I gave this out last week as an idea and it rallied hard. See here. At this point, I like it lower, at $10.00-$11.00
TSLA - As long as $540 or lower prints this is a short. $440-$450 are the targets on this. Again, I don't have a strong bias either way. The way the market is moving this could change in a morning session. Above $540 I am long but as of now, I am looking to get short this through selling June calls.
TPRE - I like this to buy shares above $8.00 with a target of $10.00-$11.00. Alerts are set so above that I am in the shares.
FCX - Nice run last week. If the gap at $5.40 fills this week I am looking to get long again. I can see this stock back at $10.00-$11.00 by July.
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