Looking for quick trades tomorrow morning? Track Yelp (YELP) and Activision (ATVI). (November 08, 2018)

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I want to look at a couple or potential oversold bounce trades for tomorrow. Activision ( NASDAQ: ATVI ) reported earnings that nobody really liked and the stock is down about 10 percent. The way this thing is trading now what you want to do for tomorrow is, wait until the stock opens and then look for it to actually start trading higher.

If it does not trade higher then you are going to have a little bit of a Roku ( NASDAQ: ROKU ) type of thing. Where the stock also gapped down, different chart, but the stock also gapped down; this was over 10 percent and just kept going. So don’t just be buying, reflexively, Activision ( NASDAQ: ATVI ) because it is down so much.

Another one that you can look at tomorrow is Yelp ( NYSE: YELP ). They are getting absolutely filleted after hours here; it was down almost 30 percent. If you think about this as a rubber band, this rubber band is stretched really, really super tight. And so look for some kind of an oversold bounce on that tomorrow as well.

Again, remember Roku ( NASDAQ: ROKU ); not all big down gaps snap back, sometimes they just keep going. You could certainly see that with either one of these stocks. Those are two stocks that I think you can check out tomorrow.