Market Notes:
There is an old story about JFK’s dad. He was getting his shoes shined in the 1920s and received unsolicited stock tips from the shoeshine boy. Upon receiving the tips he realized the market was at the top of the bubble. He returned to his office, sold all his longs, and shorted the market. He cleaned up.
Yesterday after I mentioned the GME short squeeze on Reddit and was met with an argument. Several people tried to tell me that it wasn’t a short squeeze. They also demonstrated a lack of understanding of the fundamentals of the market.
That moment reminded me of the shoeshine boy. Bull markets make everyone look like a genius.
This time the market is being supported by the Fed with quantitative easing. So I’m not calling the top here. But I’m ready for it when we reach it.
Markets were extra chopping yesterday, the SPY sold off heavy mid-morning but closed up on the day.
Futures are near flat this morning. I’m cautiously bullish.
Watchlist:
*KOSS is on watch
*NURO has support at $5
*LTBR has support at $8
*IFMK has support at $1.20
*CVLB has support at $11
*CLXT has resistance at $10
*CETX has support at $2
*SNCA key level at $1.60
*OEG is on watch
*ORMP is on watch
*RNWK has support at $2.35
TOPS has support at $2
VUZI watching for a setup above $15
VTNR is on watch
VNRX has support at $5
HCHC has support at $4
IZEA is on watch
AQMS is on watch
OCX has resistance at $6
EXPR has resistance at $4
TMDI has resistance at $3.25
TRCH has support at $2
CLVS watching for a setup above $8
SELB has support at $4
MARK has support at $2
VXRT has support at $9.50
CSLT has support at $1.80
SESN has support at $1.80
CLNE watching for a setup above $12
BNGO has support at $12
SDC has resistance at $14
TELL has support at $3.50
