If you haven’t read the 01/26 watchlist, I recommend you do so before continuing.
TL;DR: Our directional data was spot on, but our picks gapped up so much that they didn’t give great entries.
PYPL:
Gapped and stayed above our level until EOD, using our level as support to bounce off of during the market sell-off.
MU:
Same as PYPL. Gapped and stayed above our level up until EOD when it was used as support. I don’t expect anyone to scalp off of those bounces at EOD. Don’t catch the falling knife.
Watchlist for 01/27
PYPL:
Looks like whales still expect more movement on PYPL, with a lot of exiting bearish positions and call buying today. I’m eyeing calls if the price stays above $156.50
BAC:
Big sweep came in during the Fed meeting. Maybe someone knows something? I’m eyeing calls if the price stays above $45.70.
QCOM:
Some decently bullish flow going into EOD even after the Fed meeting and market sell-off. I’m eyeing calls if the price stays above $165.
Bonus Picks for Anyone Interested
DWAC:
A lot of bullish flow from floor traders during and after the Fed meeting. Only reason I’m not comfortable scalping it is because it’s a very volatile SPAC company, but experienced scalpers could find some good scalping opportunities tomorrow to the upside.
SQ:
A lot of bearish flow going into EOD from whales buying puts. Could be some scalping opportunities to the downside.
Good luck tomorrow!!!