OSTK
OSTK reversed SHORT at Wednesday's Close. Exit any Longs and for aggressive traders, consider the Mar $65 Put. Bitcoin is sitting on $9,000 round number support and if it fails, next stop is $8,000. OSTK was trading in the 30's before its bitcoin exposure catapulted it into the 70's. There is a lot of downside potential in this stock if bitcoin continues its rapid descent.
PYPL
PYPL is down close to 10% this morning, post earnings. A close today below $79.00 generates a Sell Signal. If triggered, PYPL will replace YELP in the Intermediate Term portfolio. An option recommendation will be forthcoming later today, likely the June $80 or $75 puts, depending on where PYPL is trading this afternoon.
Finally, I'm watching two KEY levels on the Dow. A close below 26,000 would take out both this morning's gap-down low and Tuesday's lows. Below that, 25,784 will generate an Intermediate Term sell signal. The market has either found support at 26,000, or is setting up for a significant decline.
