• Yesterday the SPYs bounced perfectly off the 100day, the QQQs made a higher low, so we’ll see if we can hold here or if we’ll have another leg lower, tricky, I really want the washout but we’re not getting it, we’re get these marginal breakdowns then rally back to the 20/65ema on the 60min.
• Good thing is we do have some really good setups in progress, SE if this thing can tighten for a few days gonna be a 5* setup. VEEV same thing here. MDB this is a big of a longer base, got stopped out yesterday then it rallied back, so looking for a reentry. NVDA same thing here, and SQ also, all holding up really really well. Look how nicely they found support on the rising 50day, during this recent correction, these are among the strongest stocks in the market.
• ZM yesterday I shorted it when it took out lods [10:25am] 10kshares, it went straight down 25 bucks, still short most of my shares. Stopped out b/e.
• TSLA, just in the middle of a range, I wanna see how it reacts to this 20ema on the 60min, if it gets rejected again like yesterday, or if it reclaims I’m gonna cover my shares. Stopped out TSLA short, lets see if it can rally back into the 20day and maybe get rejected there, could be a potential reshort opp.
• PLUG bounced off the 50day, is also building another hl, but now it’s kinda very wide, this base needs to tighten up, probably needs another 5days or so to set up correctly.
• Remember guys you don’t have to trade everyday. There are markets to be aggressive and there are markets to be very careful, and this is the latter.
• LVGO, just something about it, feels like it wants to go to 200, just has that feel, but as soon as we buy it it’s just gonna get slammed down bc the markets tank, that’s the feeling I get. Did a starter, like 95% chance I get stopped out but what can I say, I’m an addict. It’s just relentlessly strong, the market can’t keep it down, soon as the market selling ends this thing is gonna go straight to 200, but yeah setup wise it’s not that great, I just need to get my fix. It’s a 5* boredom setup.
• CBAT, yeah orls that was the short setup, there were two short setups on it; orls here at 3.36, then you had this little bearflag intraday with lhs, where it got rejected off the vwap several times.
• Stocks are always prior, like as long as the leading stocks are leading, I really don’t care what the market does, you really don’t need to look at the market indices ever, I just do it out of boredom. But no generally when the leading stocks lead, when they go up, sometimes I don’t look at the markets for a whole week or two, bc there’s no need to, I’m busy with other stuff.
• SE doing a starter, prob gonna regret it, but what’s life without regrets. Does feel like it wants to go to 200, this thing barely went down during the correction, went from aths, undercut the 20day and now it’s reclaiming the 20day, been building hls all this way, this thing, it’s trying to tell us something. Filled 20kshares.
• My profit factor I have no idea, I don’t keep track of those kinda statistics, I just know that if I keep my losers small, and have patience with my winners, I know I’m gonna come out ahead, that’s all I know. I pretty much never write any thoughts down, but I do journal my trades, where I entered, in which account. If you have a positive EV, the more you can trade on that edge the better.