#$fb

Meta Platforms, $FB, broke out of a descending triangle in March and continued higher to a top at the beginning of September. It pulled back from there, first to the 200 day SMA and then to the 50% retracement of the move higher, where it found support. It has been round up out of that bottom and ended last week at resistance. The Bollinger Bands® have shifted to pointing higher. 

The RSI is on the edge of a move into the bullish zone over 60 with the MACD now positive and rising. There is resistance at 347.50 and 354 then 359.50 and 364.50 before 374.75 and 382.50. Support lower comes at 337.50 and 327.75. Short interest is low at 1.1%. The stock does not pay a dividend and the company is expected to report earnings next on January 25th. 

The December options chain shows the biggest open interest at the 330 strike on both the put and call sides. January options show 330 as the biggest put strike as well but second on the call side to the 350 strike. February options cover the earnings report and have biggest open interest at the 300 and 350 put but much bigger at the 310 call.

Meta Platforms, Ticker: $FB

Trade Idea 1: Buy the stock on a move over 348 with a stop at 338.

Trade Idea 2: Buy the stock on a move over 348 and add a December 345/330 Put Spread ($6.00) while selling a January 385 Call ($6.10).

Trade Idea 3: Buy the December 330/350/380 Call Spread Risk Reversal ($1.70).

Trade Idea 4: Buy the January 325/350/380 Call Spread Risk Reversal (free).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the November options expiration in the books, saw equity markets looking mixed with large caps and tech strong but small caps showing weakness.

Elsewhere look for Gold to continue its move higher while Crude Oil pulls back in its uptrend. The US Dollar Index continues to look strong with more upside while US Treasuries consolidate. The Shanghai Composite looks to consolidate as well while Emerging Markets pullback in a bull flag.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Blackstone, Ticker: $BX

Blackstone, $BX, made a bottom in March and started back higher. It oscillated around the 200 day SMA in May and continued up to a top in early June. A pullback stopped just short of the 200 day SMA and it is now moving back to prior resistance. The RSI is rising in the bullish zone with the MACD turning to cross up. Look for a push over resistance to participate…..

Facebook, Ticker: $FB

Facebook, $FB, topped in January and then made a mild pullback. It rebounded to a lower high and then it dropped fast to the March low. Since then it has move up to a new all-time high and then consolidated. The RSI is in the bullish zone and rising after a rest lower, with the MACD level after a pullback. Look for a push through resistance to participate….

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, made a low in March and then started higher. It made a new high gapping over the prior level in May and continued to a top at the end of the month. A mild pullback found support last week and reversed back higher. The RSI is rising in the bullish zone with the MACD turning to cross up. Look for a push over resistance to participate…..

KKR, Ticker: $KKR

KKR, $KKR, gapped down in February and then proceeded to a low in March. Since then it has moved higher and is now back at the gap. The RSI is rising and bullish with the MACD lifting and positive. Look for a push over resistance to participate…..

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, started higher off of a low in March. As it crossed into May it broke above the February high and continued to a top at the end of May. It pulled back from there and is now rising again. The RSI is rising in the bullish zone with the MACD turning to cross up and positive. Look for a push over resistance to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with June options expiration and quad witching behind, sees equity markets are mixed heading into the last full week of the first half.

Elsewhere look for Gold to continue to consolidate in the uptrend while Crude Oil consolidates in a broad range. The US Dollar Index looks to move to the upside in a reversal while US Treasuries pullback in their drift lower. The Shanghai Composite looks to continue the move higher in consolidation while Emerging Markets consolidate.

Here are some of the most noteworthy new highs and lows across the markets for Friday, January 10, 2020.

Defense Stocks Hitting New All-Time Highs

Facebook $FB Testing All-Time Highs

Internet Stocks Hitting All-Time Highs

German $DAX Testing All-Time Highs

Value Stocks Hitting Multi-Decade Lows Relative To Growth $RAG $RAV

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Facebook, $FB, rose to a peak in April and then pulled back to the 200 day SMA. It bounced from there and continued to a higher high in July. But since then it has had a tough time, pulling back to the 200 day SMA again. But that touch reversed the price action again and it is rising back up and making higher highs, rounding out of the pullback. 

The RSI is rising into the bullish zone with the MACD climbing and positive. The Bollinger Bands® have also turned to the upside. There is resistance at 200 and 206.75 then 212 and 218.60. Support lower comes at 195.40 and 191 then 189. Short interest is low at 1.1%. The company is expected to report earnings next on January 28th. 

The December options chain shows biggest open interest at the 190 strike on the put side, but size from 195 down to below 175. On the call side it is large from 190 to 210. In the January chain it is spread from 150 to 200 on the put side and focused at 200 on the call side. February open interest is still building but biggest at the 185 put strike and much larger at 195 and 200 on the call side. This is the first chain that covers the next earnings report.

Facebook, Ticker: $FB

Trade Idea 1: Buy the stock on a move over 200 with a stop at 195.

Trade Idea 2: Buy the stock on a move over 200 and add a December 197.50/190 Put Spread ($2.50) while selling the January 215 Calls ($2.00).

Trade Idea 3: Buy the December/February 210 Call Calendar ($5.45) and sell the December 187.50 Put ($1.45).

Trade Idea 4: Buy the February 180/200/215 Call Spread Risk Reversal ($2.10).

After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the shortened Thanksgiving week gave equity investors a lot to be thankful for with stock prices sticking near all-time highs.

Elsewhere look for Gold to continue the pullback while Crude Oil rises in consolidation. The US Dollar Index looks to continue to drift higher while US Treasuries bounce in their downtrend. The Shanghai Composite is pulling back in consolidation while Emerging Markets mark time moving sideways at resistance.

It's not fair, I found love

It made me say to get back

You'll never see daylight

If I'm not strong, it just might

It's not fair, I found love

It made me say to get back

You'll never see daylight

If I'm not strong, it just might

They figure me a dead motherfucker

But I'm just a motherfucker that wanna be dead

$now Leopard with the lead in his head, turning me into a sweater

Bitches use me as their fucking bedspread

I be the silhouette of a sunset

Smoke a cigarette while I compress my depression

Stare into the violet fluorescent lights, makes me violent

I'm tryna get the highest I can get before I overdose and die

My ribs are nothing but an empty cage, black hole in my chest

Big bang, Yung Plague on the tip of a wave

In my head, I feel like I'm a guest, so I'ma throw it all away

Because when I am dead, I will be nothing decomposing in a grave

I'm matter, but I don't matter

I can feel my skull shatter from the dull chatter

Brain splattered on the wall

Grey stains won't dissolve, gonna have to paint it all

It's not fair, I found love

It made me say to get back

You'll never see daylight

If I'm not strong, it just might

Always boasting my emotions on how I'm so fucking broken

Think I'm joking when I'm talking about blowing my head open

'Till the moment you walk in and find my body motionless

Wrists slit

Thoughts of $licky falling in an open pit, shit

Always burn my bridges 'cause I'd rather fall in ditches

If life's a game of inches, then my dick has been the biggest

And my goal's to fuck the world until that motherfucker's twitching

Lane switching, same mission, to die and blame my addiction, bitch

It's not fair, I found love

It made me say to get back

You'll never see daylight

Did anyone catch the IBM commercials this weekend during many of the televised sporting events? They featured a new type of high school that IBM is a founding partner of and continues to sponsor. Actually this new public school concept is now 9 years old. P-TECH: Pathways in Technology Early College High School is at the forefront of the latest innovations in education.

Technology is everywhere and in everything in our lives. No matter what we do or where we turn technology is running it. The mere fact that the Big Four Tech Giants: Google, FaceBook, Apple and Amazon are now being scrutinized by the government is a case in point that tech is what makes the world go round.

So a school like P-TECH is precisely what our country needs to better prepare the next generation to run and improve the technology that we rely. P-TECH was the first school in the nation to connect high school, college, and the professional world of business through a robust combination of college and industry partnerships. They are pioneering a new vision for secondary and post-secondary education in collaboration with colleges and industry.

“P-TECH is a public education reform model focused on college attainment and career readiness. P-TECH schools span grades 9-14 and enable students to earn both a high school diploma and a no-cost, two-year postsecondary degree in a STEM field. Students participate in a range of workplace experiences, including mentorship, worksite visits and paid internships. Upon graduation, students have the academic and professional skills required to either continue their education in a four-year post-secondary institution or enter into entry-level careers in IT, healthcare, advanced manufacturing and other competitive fields. While the P-TECH Model encompasses six years, students are able to move at their own pace, enabling some to accelerate through the model in as little as four years.”

Founding Principal Rashid Davis is featured in these IBM TV commercials:

IBM: Problems Inspire Us

IBM & Problem Solvers: Rashid F. Davis, Founding Principal, P-TECH

IBM: Smart Loves Problems