Stocks Drop on February 21, Who Wants To Go Long Into The Weekend?
The stock market is falling on February 21 and now we have to ask who wants to go long into the weekend?

Stocks Drop on February 21, Who Wants To Go Long Into The Weekend?

by Michael Kramer
FEBRUARY 21, 2020

STOCKS: NVDA, AMD, ROKU, GE, BA

MACRO – SPY

Michael Kramer owns SPY Calls

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S&P 500 (SPY)

Stocks are down a bit today, with markets falling globally, with mild losses. The S&P 500 Futures are down about 45 basis points and are trading around 3,354. For now, they are trading right around the uptrend, and we need that trendline to hold.
It is Friday, and it is never an easy day to call because one would think nobody wants to go long the weekend in this uncertain environment, but then again last week stocks finished higher despite the three day weekend.

S&P 500, spy

Nvidia (NVDA)

Nvidia is dropping this morning some more. Meanwhile, the next level of support continues to remain around $293.

nvda nvidia

GE (GE)

GE is very close to a support level at $12.35 and should the shares fall below that level the shares could drop to rouhgly $11.90. 

ge

AMD (AMD)

AMD is down some today and is still heading lower towards $54.60.

AMD

Roku (ROKU) 

Roku is still trending lower, and now $123.50 is the level on watch with a drop below $123, sending the stock to $116.

roku

Boeing (BA)

Boeing has struggled recently, and now the stock is very close to breaking down with a drop below $336, pushing shares back to $317.50.

boeing, ba

Mike

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