What's going on guys welcome back to another pre-market watch list where we're going to break down some stocks or stocks whatever you like, it doesn't really matter all right. So the first thing we're going to talk about here is going to be gamestop, so gamestop has finally kind of started to show some weakness, so we've been waiting to see gamestop roll over for a long time. You know we took part in the short here tried. Another one here it failed waited till now started going bearish again on it um, so, overall we're thinking game stops going to go lower.

Now, if we look at the we'll look at the chart on the right screen, if you look at the chart on the right screen, you will see that our daily chart zero line is 141.39. That's pretty much the target for me to make things simple. Is the camera being funky? I have no idea. Sometimes it gets all glitchy and so we're looking good um but yeah.

So right now, to put it simply on the bearish side, the target would be 141. um. The reasons why it's 141 is just simply. You can see that white trend line.

That's the target. Look at the screen on the left. You see that dotted trend line, that's the target. Why is that the target? Because if that is the trend and if stock is going to trade to its trend or it's going to follow its trend, then theoretically we're above trend right now by almost 20 points, 20 a share, so i think we'll see gamestop move a little lower um.

Is it gon na go to 141? Today, i would be pretty impressed to see that it could, but we would have to have gamestop have an extraordinarily big day. I guess it's possible because its average true range is actually 20 a share on the day. Right now we're trading at 160 or wait we're trading around or yeah we're trading at 160 to 161 and the move could be down to 141.. So, theoretically, if we have another day like we did yesterday on gamestop, then yeah.

We could actually hit the target today. So it would be awesome if that happens, um the only real thing i could see. Maybe stopping gamestop from going to the 141 immediately, of course, would be maybe this previous bottom of price action, but also maybe this 50 moving average. So today i think it's possible.

You'll see you know, gamestop move lower and even try to do like a little hold around the 155 price, because that's where the long-term 50-day moving average averages at, but nonetheless still staying bearish on gamestop now. Another reason why i think a gamestop has you know, maybe some momentum building on the downside is just because i know a lot of people bought this dip. A lot of people bought that dip and that dip and if, for whatever reason this market doesn't sustain itself on gamestop everybody buying that dip that dip that dip trying to squeeze this move again is gon na roll over and stop out below this line. So the objective is to actually get to 141 and then get the price through 141 139.

Because then that's where it's going to snap big and then we'll see gamestop, probably down to like 68 or something or closer to the 200 moving average or something like that. But, but really it's it's once it goes through this point. That's where all hell is going to break loose for game, stop on the downside, all right next, one we're keeping an eye on today is blrx. Now, damn it of course.

Of course, you would do that when i'm just not looking figures, so anyways blrx, we're going to be watching already did a little bit of trading on it today going to be watching it bearish at some point um, it's moving with some news about some top line. Study for something that i can't pronounce - and i don't know exactly what it does, because i have no idea so really we're just gon na be following price action and key levels here on blrx now uh this one's a little bit tricky this one generally. I would want to be bearish because it's the first time we've gone up to attack these prices, so naturally i have to watch the market bearish on blrx, but right now it's holding above long-term trends. So the long-term trends are here and here so these two red lines are the long term trends, so the price has gone up two exceeded and is holding above and ironically, look at where this pullback came to right.

So watch this. Let's delete that because we'll just redo it so watch when i go what happens when i go to the four hour chart? Okay, so when we go to the four hour chart - and we zoom in - and we put our price line here - look where the pullback on blrx recently went to up pulls down to that trend line almost by it was off by about a penny or two. Maybe three or four pennies, but you can see this market pulled all the way down to the four hour chart. So this is the long term support.

Ideally if the market is going to move higher on blrx in the immediate, without seeing too much more downside pain. Going into the open or for the remainder of pre-market, you would expect that the price stays above 5 15.. So, if we're not going to see any more downside movement and we're not going to be seeing a lot more pain and we're going to be seeing some upside, the price needs to stay above this 516.. If it doesn't you're going to get a little snap, candle or something's going to break down a little bit more and if we break through that price point, the price point we would then go down to next is going to be here.

Well, it's actually going to be a little different than 4.92 because once market opens that's going to adjust, but for those that are watching the videos and not in our live room. This is probably about the best it's going to get um, so this is at 490.. So again, if the market comes down breaks 515, it should then snap to 490 and then there's going to be people to try to dip, buy it off 490, because that's a long term trend and then it will also match up with this previous dip here. So again, this is the long-term trend.

That's why this dip got bought here, because we broke over long-term trend, pulled back, got close to bought up same thing. Four hour chart breaks up, comes down close to bought up so either way. We're gon na be watching this um, really we're gon na be watching this. Both long bias and short bias.

We're gon na be playing both sides of the field on this one today um because it is overbought, so it provides the potential for a good short it's, but it's also the first day that it started moving with some pretty positive news, so shorting on the first Day might give you a headache, and it might just be better to be long more so than short at some point so for now watching it both ways. If we're going to get a big breakdown move, then the stock would have to go below these price points. Right if it doesn't break below these two price points fully, then it's still susceptible to having a u-shaped squeeze. So that's another thing: you could see a break here at 5, 14 swing down to this 492 and then come back up into like a u-shape.

You know long move that we see so either way we're going to be keeping close eyes on blrx today as a whole. All right, they're, really to be honest, those are really the two stocks i was probably going to watch um, so we won't do too much more now. Actually, you know what we will we'll look at neo and we'll talk about tesla, because i know a lot of people still. You know very interested in those.

So we'll take a look at neo here, so i had a price target of neo getting back to 48. It didn't get there right. That was my next next target, so our first targets - you know in our swing, move on long recommendation on neo was to here. That was our swing, long target pretty much back to the high of 43., so we were able to get the 43 target, but we weren't able to get the 48, which would have lined up with this previous high at the time.

So we were off that target by about five bucks made the first target ever since it's been slightly confusing because the market's been selling down a little bit um. So let's take a close look at neo here right. If you're the daily chart, you have a price line that comes in at 38.90 or so and then, if we go to the four hour, chart that's up there. So, let's see that happening yeah so for right now, i think we have to be a little bearish on stocks and the reason i say that is the market.

Um has stalled out at highs and started rolling over and there's really nothing about the market. That looks bullish right now, um, it looks like it wants to keep selling down, but i'm optimistic that the market can reverse into a long. So what i'm looking to see is if the market comes back up and takes control of prices at 33 34, then i could see us moving up, but for the most part, we're going to stay on the bare side, because we did break down that previous price Action, we don't have any previous support trend lines that are nearby, so this to me seems like the market could actually continue selling down, so we're going to stay more on the bear side of stocks right now. If you look at tesla, 2 tesla helps them.

You know neo move one way too right now. Tesla is selling down still we're coming into a previous price action bottom, but it's not really a previous trend support just yet, so i fear that tesla still has lower to go in its move, which then would drag down neo and the markets are going down right Now so right doesn't seem like much opportunity to be on the long side of many stocks for today. So that's pretty much today's watch list. I hope you guys learned something new thanks again for tuning in make sure to hit the thumbs up button.

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