2/18/22 Long Weekend, Long War, Long Shots…

News:

Photo by Jan Kroon from Pexels

Its Friday and the market won’t reopen until Tuesday … The three-day weekend at the height of tension in the years-long conflict between Russia and Ukraine gives me little confidence in the bulls.

The U.S. has warned of an “imminent” invasion…

Yesterday’s heavy selling would be a short-term bottom. But I’m not ready to place any bets…

There were a few high-flying stocks yesterday. Most notably ISPO, which popped over 700%.

No clear explanation for the volatility, but it’s a good reminder that in the market anything can happen.

Technicals:

Markets are looking a bit oversold. But not enough signals are aligned to mean anything.

I’m keeping tabs from a safe distance.

Timing:

Options expiration is today. Expect more volatility, bears have a history of strong showings at the February expiration.

Monday is a holiday, the market will be closed…

Remember markets hate uncertainty. The longer you will have to hold a position the more risk you are taking.

Watchlist:

*Low Float

*GRIN is on watch
*SGLY has support at $7
KAVL has resistance at $3
ANGH has support at $23
ISPO is on watch
KPTI is on watch
COOP has resistance at $52
SFL has support at $9
PTEN has resistance at $14
GTE has resistance at $1.30

Leave a Comment

Your email address will not be published.