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Watch today’s LIVE TRADING ROOM recording:
Tip: fast forward a few minutes to skip to the start of the session
#trading-room-summaries
Greetings. We are two of Samantha’s Live Trading Room Moderators. Rithika focuses on the the chase action for intraday moves. Michael captures a summary of all ideas & trades across all timeframes - chase, swing & trend. We both make best efforts to cover her trade set ups as well as those requested by clients in the room.
For best results, listen yourself. Or better yet, join us live!
Samantha’s Live Trading Room Summary
PLTR finally tagged $50 - my price target for months on this swing long!
UFPT, EMR, BLDR, CMI, CRH, CLS, NOW - all working as continued “Trend Long Breakouts”.
FLR, BJ still under-the-radar value plays that have more than doubled since added to my TREND LONG portfolio.
MRK & AZN - best biopharma swing shorts rec’d past few weeks, thanks to our resident doctor in #kentons-corner-of-bio-pharma.
SMCI still destined to ~$12 and then let’s see
INTERMARKET REVIEW AT END OF SESSION - that covers oil, yields, dollar, semis, value rotation, bitcoin & more!
Rithika's Chase Summary
TNX hit a high of 4.36 and hasn’t gotten above can be telling, for some digestion here
QQQ above 490 pushing into 494, sam thinks we come into 480 overshoot target if we break the 10 week
DXY right now we are soggy but big picture we are choppy
SPY sitting on trendline support, above 572 can see 574, 575.5, 577 at which point could soften , if we dont hold 571 we come back to 565
VIX below 22 should weaken to 20.5
NYFAANG holding the 21 day
Breadth rolling over underneath the surface since Oct 21st
But long-term channel still not broken
PLTR heading to sams 50 $ target, but is as good as it gets should digest soon
MSFT needs above 412 if it moves to 415
If amzn gets weakness can expect 190.60, above 197 can see 199, 200.5
INTC above 23 into 25
NVDA above 140 can push 143, 145
CPNG heading into 27 - earnings AH, still Drukenmiller holding.
TWLO getting very extended NOW, careful - but great rec’d long into earnings
SMCI heading into the 400 week - BELOW IS DEATH
Yields falling will help TAN up to 43.6 maybe 45
SOFI pushing into 11.70
Michael's Trading Room Summary
NOV 5, 2024 AM
MAG7 - still in (D) range; 8th week of sideways. Above blue line
IWF:IWD - fake breakout - fast failure of last week leaves us back in the wedge (D). wicked sideways.
INTERMARKET
T2100 - trying to stabilize; oversold.
T2104 - not there yet;
T2123 - needs to get into over-sold levels. came in & based.
WTI CRUDE - bearish next year - pushing out. Intervention news. bouncing. Still see oil rolling over into next year.
GOLD (futures) - rolled over as expected
Nat Gas - strongly bounced. 2.93 area; trying to figure it out.
Bit Coin - 64k on retest looks like a date. Likely gets defended there. False Flag
FX
Dollar (DXY) - soggy. choppy.
USDJPY - 152 massive size; softening below 152 makes Sam short term bearish the markets.
BONDS
TNX - not rolled over yet
ZN (10Y) - sideways on the next level support
ZT (2Y) - sideways on the next level support
10/2 not much going on
INDEX
SPX - 5640 would not surprise
SPY - 565 would not surprise
QQQ - 479 would not surprise. Holding the 10(W)
VIX below 22 should weaken to 20.5
SVXY -
BXM getting some buying this morning
CHASE
AMZN - If amzn gets weakness can expect 190.60, above 197 can see 199, 200.5
CPNG heading into 27
MSFT needs above 412 if it moves to 415
NVDA above 140 can push 143, 145
PLTR heading to sams 50 $ target, but is as good as it gets should digets soon
QQQ sam thinks we come into 480 overshoot target if we break the 10 week, above 490 can push back to 494
SPY sitting on trendline support, if we dont hold 571 we come back to 565 | SPY above 572 can see 574 | SPY 574 approaching continuation can see 575.5 | SPY - 577 "top out" point; then maybe a little bit lower
SOFI pushing into 11.70
SMCI - heading into the 400 week
TAN - Yields falling will help TAN up to 43.6 maybe 45
TWLO getting very extended, careful
TNX hit a high of 4.36 and havent gotten above can be telling
INTC above 23 into 25
VIX below 22 should weaken to 20.5
HONORABLE MENTIONS
GOLD & SILVER - don't sell these trend long plays if you are trend long; but short term - this needs to be defended.
SMH/SPY - still up; forming a roll-over but has not followed through. Distribution into next year.
XLK/XLP - still XLK dominant. Roll - Over.
IVW:IVE - still rolling over. Looks like it wants more. Semi & tech into the new year could be challeneged.
RSP/SPY - value to come back & play a role. Tons of room - needs a momentum thruster.
COMPQ/SPX - have not broken down.
AZN - nearing 66.00$ or the 200-week.
AAPL - going to hold 220. By tomorrow
ADM - out of plays
APO - doing great. APO - wow;
AMZN - has some funky gaps to fill. short 190.60 when we get some weakness.
AMT - not liking the weekly H&S pattern. 200-day support.
BTU - it's trrying; sideways chart.
BWXT - announcing purchading agreement (spent a lot of money).
BLDR - like this one. Trend long recommended. Get back above 185 to be safer.
CMI - borning. restested support 256 (M) support. .
CEIX - borning trend long. Still doing well.
CE - wow; what a dump. Earnings were horrible. "if 100 - then 80.00$"
CPNG - get / stay above 19.00$ to double.
CRH - trend breakout - go w the flow.
CLS - getting extended.
COIN - bounce into resistance.
DRUG - unknown.
DD - not bad; they beat at bottom line earnings & raised guidance. "fine" - holding above 55-day MA.
EMR - trying
EMR - 115 PT trend breakout opportunity.
FXY - showing a higher low; stochastics looks like it wants to move higher. Could be a lead into a new move higher into the new year.
GOOGL - not really moving; needs a gap fill.
ICE - likely gets defended.
IPI - fertlizer plays getting some action...? Not sure why it's moving. Supply costs falling - margins are rising - Ferts are getting some positive attention. Clearway Capital (activist involvement). Get & stay above 28.00 (D) to cont.
KWEB - likely a play for next year.
LLY - exactly on 800
MSFT - get above 412 to move.
NDAQ - likely gets defended.
NVO - it will come back to 106 & then it should bounce.
NVDA - looking for a reason to see it fall lower with volocity. 146, 148 150 area in time.
PYPL - getting defended at 76.50
PLTR - Earnings popped this higher. 50.00$ (W) was the price target; almost at 50.00$. Good as it gets right now. Congrats if you took that.
VRNA - doubled as called; cheers.
RNA - doubled; needs to digest.
SMH - not falling apart; still has long targets
SMCI - fading into irrelavant; likely gets defended at 400(W).
TSLA - monthly resistance 271.
TAN - maybe 45; needs yields to come back down.
VKTX - does not have a bad profile. Needs to stay above 60.00(W)
VRTX - strong; not worried.
WING - 365 gap fill.
WYNN - earnings yesterday; bleeder. back under the 200D and 55D MA's. 85 likely next PT lower.
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