Watchlist: 7/29 Welcome to The $HOOD

Market notes:

Robinhood’s (HOOD) long-anticipated IPO is finally here. The unicorn’s valuation is near $32 billion. Interestingly the price of $38 per share is at the bottom of the range.

Yesterday the unrelated Duolingo (DUOL) began trading and popped 35%. I think the environment is ripe for a strong first day. I believe interest in the stock will be strong. I’ve got a request in for shares at the IPO price. I’m not a buyer above the list price.

Bitcoin is hovering near $40,000 still. Waiting for a confirmed breakout…

Futures are mixed, mostly green, but close to flat. I’m building small positions in low-risk swings. But I’m not day trading with much size right now.

Watchlist:

*Low Float

*SPRT has support at $8
FLGC is on watch
FLDM watching for a setup above $7
PAVM has resistance at $7
ATEN has support at $12
NOK has support at $6

OTC (on watch, no levels):
NLST, LCLP, FERN, NSAV, RSHN, DPLS, HALB

watchlist

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