At a Glance
Regime: Washout · Open: Gap down · Risk on new positions: High · Custom T2108: 19.7, rising
Focus: WOLF (PR Catalyst · Magnitude) · GOOG (PR Catalyst · Duration)
Tonight After Hours: ODC · Tomorrow Before Open: DAL
Holding: OKTA, DELL, MRNA, ALAB, PBR, AMD, PENG, PLTR
Situational Awareness
Market Condition: Narrow Market. Difficult.
Commentary: Weak open today. Nothing intrinsically wrong yet but we really do want to see some power hit the market. Very weak rally so far. Lot’s of squats and a general lack of follow through. I still think we will get some great opportunities in earnings season and I’m still seeing lot’s of potential in charts.
The T2108 is still just hovering but you can see from previous drops that this isn’t unusual, albeit it is unusual for the market to be at all time highs. A broad rebound would be most welcome. Otherwise the strong stocks might eventually be dragged down.
No need to panic here or get frustrated. Easy environment will come again.
Today In Focus
WOLF — Wolfspeed: Wolfspeed Announces Conditional 30-Year, $1.5 Billion Loan Commitment from U.S. Department of War
PR Catalyst · Magnitude · Mkt cap $1.6B · Float 6.0M · SI 437.7% (10.3 days) · NYSE · Theme: Small-Cap Semis
Why: High Short Interest, Pretty Good Chart. These Debt deals are difficult to judge however. If you look at the rare earth deals then they really didn't have a lot of follow through. Whether WOLF is different or not I don't know but certainly in play today and has great potential to run on it's Short Interest and it's market cap size. Not overly impressed with pre market price action.
Level: 35 is the U&R level. Will be also considering ORB/Pre Market High on this
GOOG — Alphabet: Google Launch New Gemini Agent
PR Catalyst · Duration · Mkt cap $4.2T · Float 10.9B · SI 0.5% (3.4 days) · Nasdaq · Theme: Internet Content & Information · Next earnings 28 Oct
Why: Google Launched new Gemini Agent. META has gotten a solid move from same catalyst. GOOG Chart has been on my watchlist recently for a catalyst. I was thinking earnings but it might start a move today from this new product launch. Not much happening pre market but looking for a push through $350 after the open.
Level: 350 is the clear round number level for me
Also in Play
Stocks in Play Watchlist: TradingView
Secondary Picks: None
Trade Updates
Open:
OKTA - Earnings Catalyst - 27th August 2026 - 10% Remaining
DELL - Earnings Catalyst - 2nd September 2026 - 70% Remaining
MRNA - Power Play - 17th September 2026 - 40% Remaining
ALAB - Power Play - 5th October 2026 - 100% Remaining
PBR - PR Catalyst - 5th October 2026 - 100% Remaining
AMD - Power Play - 6th October 2026 - 80% Remaining
PENG - Earnings Catalyst - 7th October 2026 - 100% Remaining
PLTR - Power Play - 7th October 2026 - 100% Remaining
Trims:
AMD - 4EMA H1 Hourly - 7th October 2026 - 20% Trim
Closed since yesterday: N/A
Macro Events (Eastern Time)
Thursday October 8 2026
8:30 AM - Jobless Claims 4-Week Average (Oct/03) (Previous: 200.5 K, Consensus: 198 K)
8:30 AM - Initial Jobless Claims (Oct/03) (Previous: 199 K, Consensus: 200 K)
8:30 AM - Continuing Jobless Claims (Sep/26) (Previous: 1,699 K, Consensus: 1,710 K)
Fed speakers: Waller 4:30 AM, Musalem 1:40 PM
IPOs Today
Thu 8 Oct: SCAT - Southern Cross Acquisition II Corp. Ordinary Shares - NASDAQ - SPAC
Biotech Calendar
XBI -4.7% on the week and -7.2% on the month, under its 50-day. The sector tailwind is gone for now. Reactions have to prove themselves.
Flagged Charts: IRD
Note: Never front-run biotech catalysts. Wait for the catalyst to hit, then assess if the reaction is tradable. Dates are estimates and can shift.
Full H2 Biotech Watchlist: TradingView
Have a Great Week!
Sean Sharpe
