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what's up guys and welcome back to the stocks with mike and tom show today tom will not be with us but we still have an awesome video and we have a ton of plays to go over for the market tomorrow today was a very interesting day in the market the spy finished down around 0.3 but looking like at the intraday data it's not like we saw the market crash or anything like that uh the market did like kind of sell off in the middle of the day but it had a pretty strong recovery overall in today's video we have a lot of great plays make sure to stick around to the end but we're gonna get right into it so like i said uh the spy sold off a little bit in the middle of the day but it definitely wasn't like a crash like crash and burn type day if you know what i mean um i would best describe what we saw in the market today as a slow rotation out of some of these crazy overbought tech stocks stocks like nvidia and apple have been running up non-stop for like the past like five to six weeks and we're finally starting to see them pull back back in 2020 we saw stocks like apple and tesla just skyrocket right before they split and they tanked off right after nvidia is kind of in a similar setup it's been running like crazy in anticipation of this stock split that is set to happen next week we're already starting to see it sell off and it's not looking good it's down around four and a half percent already and honestly it looks like you could fall a decent amount more like i said there's just been a lot of selling pressure and uh we're just starting to see like a rotation out of these way over over i guess you say overbought tech stocks like nvidia and apple um just they're just so overbought and i think that there will be better opportunities in different parts of the market uh like boeing uh penn here if we look at boeing they're like more towards lowe's they're bouncing or they're trying to bounce off support but one play i really like for the next couple weeks is pen p-e-n-n um i feel like this is going to be a really solid dip buy and in some ways it reminds me about the zoom play i had from a couple weeks ago uh basically i had uh zoom calls on may 13th and you know luckily i caught the bottom but that does not happen uh all the time it's basically impossible to catch the bottom um you know all the time but anyways it was a solid play but the setup is pretty similar um from what we saw zoom about a month ago um or two months ago i should say to what we're starting to see with pen um it's just been selling off a lot over the past couple weeks they have some pretty good news and uh penn is just really on my radar um for a potential bounce play but another part of the market i really wanted to look at were the airlines in the cruise lines uh they've really been struggling over the past couple weeks and this is just another sector that i think will be good for the upcoming stock rotation and one stock i specifically wanted to look at was ccl this thing has been getting demolished over the past couple weeks or so and i think it's at a pretty solid level right now and even though the stock is selling off a good amount uh the ceo of carnival cruise lines said that the 2022 bookings and pricing is stronger than 2019 so that's awesome to hear a lot of people have not been on a cruise line in quite some time and even though a lot of cruise lines got demolished last year they're at a really low price and um i'm just really watching this setup i think it could be pretty awesome over like the next i don't know i guess you could say like four to four to 12 months or so i think it's at a pretty good level and i'm definitely gonna be watching this one for for some leaps i still think we're a little bit early but it's definitely on my radar some other stocks like this are like nclh and rcl they're all beaten down and i know that not a ton of people are talking about these types of stocks right now everyone's going to be hyping up stocks like apple nvidia amazon microsoft and facebook because that's what gets the clicks but uh guys i it's in general it's a lot better to be buying stocks when everyone else is selling them rather than just like joining in and buying you know apple calls when they're exploding past your all-time highs and the market is starting to get a little bit of selling pressure so um really i'm just watching uh different areas of the market for some dip buys uh the top socks i'm watching are pen you could say like ccl you could say even some of the china stocks like baidu and baba and then even uh what do you call it even draftkings they had some pretty good news today um draftkings received the daily fantasy sports license from louisiana gaming control board and is set to bring daily fantasy sports to the state draftkings is one of my favorite stocks over the next couple years and they have been getting hammered um over the past couple months and while it sucks for the short term really it's just a buying opportunity for the long term i love this company and it seems like they just have like new good news every single day um so they have some great things going for them and i'm very excited to see how they progress over the long term and you know adding more states is just gonna help them and it's just gonna increase their revenue uh like i said they have been struggling uh quite a bit over the past couple months but they're a pretty solid company and i think the best way to go about playing this one is either selling puts or maybe even getting some leaps or sheers i really like this setup and they had a nice recovery intraday i know it opened right around like 44 dollars and 40 cents fell all the way down to 43.50 but it came right back up to its opening price which is pretty awesome to see if we look at the market in general uh like i said here i'm just going to scroll through a couple different stocks right now it's not like we saw the market like crashing and burning but we're just seeing a lot of stocks start to downtrend and i really i think that uh we're gonna see certain aspects of the market like some of these overbought tech stocks like apple nvidia and stocks like that start to pull back i think we're gonna start to see a good amount of buying pressure come into the stocks that were already beaten down like penn and you know some of these cruise lines and airlines so that's like the main update for today but we also have to talk about the momentum plays for tomorrow so baidu had a pretty solid day and honestly just a pretty solid week overall uh they're up around two and a half percent today and they just had a nice rally um check out the 186 dollar in 25 cent level for tomorrow um if it can break above that i like it for potential calls tomorrow the next one we have is nvidia this thing had a lot of selling pressure come in and it was just a matter of time if it breaks below the 755 level i like it for puts tomorrow and the next one is upwk uh if this one breaks below like the 47 dollar and you could say 20 cent level i also like it for puts tomorrow these are just for potential quick day trades looking at upwk i actually like this stock for the long term and they had a lot of selling pressure come in over the past couple days i'm really looking to short put options on this one over the next couple weeks because i really wouldn't mind holding this one for the long term uh kovid really helped him out so i like the setup overall for a long term play but i'm just looking for a dip to uh either sell those puts or get in some shares so overall not a horrible day and we had some very interesting momentum very mixed momentum you know not all stocks were crashing and burning or most of them weren't i should say it's just really the overbought tech stocks like nvidia if we scroll through the list even enfase struggled quite a bit uh smh amd uh square struggled uh the arc funds had a pretty bad day and even my stock zoom that one didn't have the best day but uh not bad overall and one one trade i really wanted to highlight for the market tomorrow is the amazon 3700 strike call options that expire tomorrow there was around 21 million dollars put into this play today and amazon just sold off it's been pretty overbought and i definitely think that the smart money is shorting these put options uh amazon has just been exploding to the upside and it's just been overdue to pull back uh basically the smart money appears to be taking the bat that amazon will close below thirty seven hundred dollars by tomorrow and most likely that'll happen of course anything can happen but uh just most likely you know they're collecting a premium to uh short those puts anyways so uh really just looks like amazon will not close above 3 700 tomorrow the market's been a little bit rough lately and amazon is kind of in the basket of stocks that have really been overbought and then uh yeah so that's just basically um that for the unusual options activity um normally when we see plays like this they mainly get into these types of plays just to profit off of the time decay so for example if we go to the amazon chain we go to the july 16th expiration and let's say we go to the 3700 strike puts you know these things are going for over 200 bucks right now um basically the smart money is just looking to sell these and then hopefully buy them back for like you know a couple dollars tomorrow and profit off of the theta decay but let's get right into the comments from the previous episode with the first comment we have nicholas which had an awesome comment that aged very well and he said uh i'm really watching nvidia i feel like a big pullback is almost guaranteed before the split i will definitely be buying one put as a lottery ticket better odds than the lottery and i agree with you and i hope you were able to get in that put today that thing sank and ivy's creeping up and i really wouldn't be surprised if it continued to pull back maybe to like the 740 level or even like 735 it's not a bad play and uh yeah i like the setup overall it's been super overbought lately and then with the next comment we have tv saying how are boeing september calls looking for a nice recovery swing to the upside so it's sitting right on the support level at 220.
i don't know if you can see this right here um but i like the play they're making higher lows making higher highs i like the play overall but i just think we're a little bit too early uh kind of like um kind of reminds me of the pen set up a little bit it's been trending down for uh quite a while now and a lot of times these up these down trends can last for you know a couple months just like we saw with zoom when looking at the zoom play zoom had a downtrend since october of last year and they didn't even start their uptrend until the middle of may so i'm not saying every play is gonna like work the same exact way as zoom but uh generally they kind of work together um so i like the setup with boeing i just think we're a little bit too early so with that being said i'm just gonna have my eyes on it boeing is on my watch list and you know if we can see it retest maybe i don't know 200 or 210 that that could be awesome and it could be a great opportunity to buy some leaps so overall tv love to set up and it's definitely on my watch list with the next question we have santiago saying oh man i was waiting on uh insight on g-o-e-d great video guys so g-o-e-d i didn't do like a full fundamental analysis of them but it's just not a setup for me um we can just see like even on a technical level this thing's been brutal an ipo around 10 bucks and basically ever since it's just been falling now it's down to three i don't really trade penny stocks either but the chart looks pretty brutal it's not a play for me if you are in it i hope it pops for you but even the technicals on this thing look pretty bad um if like one level i'm kind of looking at was the channel between two dollars and the resistance at four dollars and fifty cents if it can break above that resistance at four dollars and fifty cents it can be decent but it's really just not a play for me and then with the next comment we have outlaw saying yo mike and tom happy hump day i got out of palantir robin hood sold my order 25 cents higher there we go so palantir has been struggling a lot lately um it's really been pulling back over the past two weeks at the end of the day they're a solid company and they've had an amazing recovery since may 17th they went from like 17 bucks all the way up to highs like almost just under 28 um i like them for the long term in the short term they're definitely pulling back and i think it'll ultimately uh just be an opportunity to get in some leaf calls or you know maybe even some shares but overall i like the setup and they're not even bad for selling put options you know it's always good to be buying these stocks on the dips rather than you know fomoing in when they're exploding past their all-time highs uh then with the next comment let's see we have dan saying you guys saved me roblox got destroyed uh well awesome comment dan yeah it's been uh getting clapped pretty bad uh it's been making lower highs i'll uh draw a trend line right here uh if we go connect this high to give me one second if we just connect the highs like this we can see that it's clearly in a downtrend and it's not looking the best it's making lower highs it shows there's a lot of selling pressure coming in there's a little bit of support at 75 and even at like 77 it's definitely not it's not the best setup right now and i think the best way to go about this one is just skipping it um they had an amazing explosion in like the middle to the end of may but um it's just not it's not a good setup in my opinion so for tomorrow the main stocks i'm watching are nvidia p-e-n-n and then baba baba had a pretty good day in general china stocks have been popping back up nvidia has been overbought for quite some time now and they're finally selling off i am watching nvidia for put options uh the sell-off today was pretty uh pretty volatile which is great for day traders it fell right below that support at 775 and just tanked off overall is a pretty solid plate of the downside definitely keep your eye on um nvidia and then also if we look at pen this one's looking pretty good i'm just really eyeing it for like a potential uh position to start averaging into shears maybe leafs or even some short put options so uh thank you guys so much for watching today's video i really appreciate it if you want to trade with the bots tom and myself every single day you can click the first link in the description down below we have daily day trades swing trades order flow bots we have a ton of custom bots and the bot has been working pretty well definitely check out that first link in the description down below you can cancel at any time other than that thanks for watching
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