Trading Game Plan 6-16-20


A bizarre news story broke about Shake Shack, the police, and the possibility of bleach put into shakes for the officers.

I hope it's not true but will make for interesting trading of SHAK stock.

The stock market bounced back with a solid day, and very profitable day of trading. I'm still in day trading mode, and I explain why in today's video.

Futures are trading higher but there is plenty of news today:
  • Earnings scheduled for ORCL, and GRPN.
  • Retail sales.
  • Jerome Powell testimony at 10 am.
A few stocks that showed relative strength last week exploded with solid trend days yesterday so we're looking for continued buying today. DKNG stock, ZM and DOCU to be specific.

AAPL, DDOG and PTON are all in striking distance of all-time highs so a must watch today as well.  

Interesting tape reading yesterday in GSK stock and also SAVE (Spirit Airlines)

Both trade double normal volume and closed on the highs with solid momentum. They will be on my watch list today.

I also review NKLA stock and explain why I am not discussing trade setups during these videos.

Have a great day!
Pete


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