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Daily Setups for 10/28/2021

Updated: Oct 28, 2021

Earnings before the open tomorrow


$SHOP $MA $CAT $NOK $MRK $OSTK $MO $DQ $BUD $YUM $CMCSA $SIRI $AMT $RDS.A $NEM $CHKP $RS $FLWS $SWK $HSY $BTU $TAP $TPX $STM $MDC $TREE $AVNT $TROW $ADS $NOC $CNX $CARR $IMAX $SNY $LH $OSK $SAH $CBRE $AEP $AGCO $SNDR


Here's what I am currently looking at for tomorrow:


Longs: $H $MAR

Shorts: $AMD $AFRM $ARKF $APPS $FB $NET $NUE $TSM $UPST

Neutral: $NVDA



Setups:

$AFRM wanted the short off the shooter yesterday but passed, not passing today. Inside day shooter again here and under $150 will be looking at a short with the 10/29 150p (risky) or the 11/19 145p targeting $146.90 and $146.15


$AMD nasty outside day shooter post earnings that doesn't look great for it. Under $121.05 will be looking for a short move down to $118.37 if they bust thru $120. Would look at the 11/19 120p on weakness here and with the overall market



$ARKF putting in an inside week shooter here so far and would like to see them take it lower under $52.28 and confirm the downside move under $52 to close that gap with the 11/19 52p (low OI)



$FB couldn't do anything post earnings and gave a large bearish outside day to an inside day shooter and will be looking at a short here under $312.06 down to $309.60 or lower on market weakness with the 11/19 300p



$H only one of a few bullish outside days that I am looking at for continuation to the upside ahead of earnings next week. Over $86.41 and will be looking at $86.81-$87.75 and then $90-$92.22+ for new 52 weeks highs via the 11/19 90c



$MAR right there with $H here and same thesis for this one as well. Over $160.56 and looking for a move to $161.42 as it too has earnings next week and looking for outside day continuation here into earnings with the 11/19 165c or 10/29 160c



$NET had a downgrade yesterday and is looking to reverse course here this week after making a huge run, up 67% from our trigger at the beginning of the month. Under $176.01 will be looking at a short with the 11/19 160p



$NVDA was my neutral idea but the more I look at it the more I think we see some weakness if the market remains weak here. Couldn't push too much past $250 so looking short under $243 with a target of $239.24 via the 11/19 230p



$UPST still valid from our weekly short setup here and looking for more continued weakness off the inside day shooter. Under $310 will be looking for a move to $304 and $300 and if that breaks then $281.13 via the 10/29 300p




Daily Plan for 10/28/2021


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