Consumer Discretionary stocks are on our radar. And for today's trade, we're going abroad and finding a stock that has both a great setup and is also starting to become a fashion "story" here in the U.S.

Just about anyone I've talked to about sneakers recently has mentioned this brand. It is quickly becoming a favorite. I don't currently own a pair, but if this trade pays, then perhaps I'll go buy a pair with my profits :)

[Note: We entered this trade on June 4th following the entry trigger. Details below]

On today's Flow Show, Steve Strazza brought the heat.

It appears Bitcoin is about to start another leg higher. It's showing all the signs: A tightening consolidation on the verge of an upside resolution. And with the 100,000 level on the watch list of every professional and amateur market speculator, it's hard to believe that the next bullish breakout does not include a run to and through this highly watched level.

As I mentioned in yesterday's Options Jam Session, the stock market is currently sending mixed signals and it has me open to the idea of adding some short exposure to my portfolio to balance the risks to my open long positions.

So I'm on the hunt for weak stocks that are showing signs of losing significant support levels.

Today's trade fits the bill.

If the way Nvidia is trading is an indication that the semiconductors run is far from over, then we have to believe some additional names down the cap scale will attempt to play catchup.

One of those names is Advanced Micro Devices.

Check out the ground that $AMD has to cover to get back to all-time highs:

My portfolio could benefit from some directional diversification right now. As such, I had my eye on a bearish bet this morning to help balance out my mostly directionally long exposure.

And one name that I and our analysts discussed in our meeting yesterday appears to be hanging on the precipice of a potentially large fall. The company will be announcing earnings on July 4th (who does that?) and I think that might be the final nail in the coffin to send this stock lower (if not sooner).

Last week in Sonoma, we uncovered a bunch of potential trades that are setting up in a variety of sectors. But one of them is sending a glaring signal that it is ready for us to get involved right now, so let's not waste any time.

Check out this chart of CNX Resources Corp $CNX:

Going to skip the preamble as I'm currently at Portfolio Accelerator.

We've got an extremely timely idea that we just all discussed at a round table.

Specifically, the Bank of...

My analysts are bullish on Bank of America $BAC and for good reason:

Bank of America is on the verge of breaking out of a bearish-to-bullish reversal pattern.

As you can see in the lower pane, BAC recently resolved higher from a similar basing formation versus the broader market.

We like it long only if it is above 38.50 with a 2-4 months target of 50.

Options premiums are cheap, so lets keep it simple.

<meta name="twitter:image" content="http://allstarcharts.com/wp-content/uploads/2019/04/options-twitter-image.jpg" />

As this bull market shows signs of resuming its march higher, we're setting our sights abroad because U.S. stocks don't have a monopoly on great setups. There are some great companies overseas that trade here in the U.S. that are also setting up for great stock rallies.

Today's trade is in a biopharma name.

I. AM. GOLD.

I mean, it's right there in the name. This company makes no bones about what they do. And I'm into it. Especially when I'm looking for a leveraged play into the metals sector for a potentially big move.

Buying here might not be for the feignt of heart, but if you love gap-no-go patterns with a long time horizon to play out, this might be the golden ticket.

In today's Flow Show, Steve Strazza and I talked about how this market is setting up to be potentially very problematic for short sellers.

And the most pain will likely be felt in the stocks that currently have a heavy short interest.

With this in mind, the short squeeze pond is where we want to be fishing for long ideas.

In the video above, you can watch how Steve and I developed today's trade idea in Wayfair $W.