SD-2024 BE PROACTIVE-STOP THE W-C-S woulda-coulda-shoulda

[sd]

5.24.2024
Market nightly assesment -from Jason @ www.Leavittbrothers.com-
Here he illustrates how the TA has been signaling what the Price action has been suggesting.
Yesterday's big gap up Open- was the TOP- Got a Gap to fill lower.
Wall Street loved NVDA's earnings. The stock gapped up and ultimately posted a 9.3% gain. The overall market also gapped up, but the HOD (high of the day) was established in the opening minute. It was mostly downhill from there. After the gaps were filled, the indexes moved sideways, but by late morning, buyers disappeared. The indexes headed straight south and didn't stop until about an hour before the close.
For the day, the Russell 2000 and Dow dropped 1.5 - 1.6%; the S&P 400, Russell 3000, Russell 1000 and S&P 500 fell 0.7 - 0.9%; and the S&P 100, Nas 100 and Nasdaq fell 0.4 - 0.5%.

Among the groups, semiconductors and tech hardware moved up more than 1%. Otherwise it was an ugly day. Water, REITs, autos, mining, gold, gambling, aluminum, furnishings, recreational services, gas distribution, delivery services, industrial machinery, telecom equipment, real estate, travel & tourism, restaurants & bars, business training & employment, auto parts and reinsurance dropped more than 2%.

Here's an update of the SPY 60-min chart I posted yesterday. Regardless of the NVDA-induced gap up, the technicals told us the market needed to fall and let out some air. The RSI had already broken down twice. The MACD crossed down last week, and then it "kissed" its signal line twice this week. And the stochastic had rotated up in orderly fashion and given clean signals. So coming into today, downside pressure was brewing. The gap up simply presented a good opportunity to sell and step aside. Then the RSI broke another trendline. The MACD lines expanded apart. And the stochastic rolled over again. It was all there in the chart. No guesswork. No trying to figure out what would happen next. No entering debates on social media. No having intense debates with yourself. Just calmly listening to the message the market is trying to send.




Bitcoin stocks have done well for us lately. Some have offered 10-20% moves. A few have done much better. But those too are falling. It's not our job to argue. It's our job to step aside.

Where do you put a stop? At a level that renders your thesis invalid. Simple as that. You get into a position for a reason, and when that reason ceases to exist, you exit. I look at a chart and say: As long as the stock stays above X, I'll let it be. But if it goes below X, the trade is no longer valid, and I'll exit.

You don't guess what might happen. You just put a stop in place and let the market do what it will do.

Gold and silver stocks also did great for us, but they've fallen three straight days - the last two were big drops. Managing trades here is the same as elsewhere. If a stock goes below a certain level, the trade is over. Period. Not after a bounce. Not after a few more minutes. It's over.

Today was a giant reversal candle. The S&P gapped up and then fell to engulf previous five candles.

The big picture remains in great shape, but near-term downside pressure is building. Don't fight a mini correction.

Have a great night.

Jason Leavitt


@ 6:30 am- Futures are in the green

Note the Gap from the prior 'breakout'


Guy Adami/Carter Worth yesterday
www.youtube.com/watch?v=HVwxZFNdAek

As of Yesterday all my stops on swing positions had been triggered this week.
Holding a few 1 share positions intentionally, but will adjust and put stops

Sector weightings in the SPY:


@ 15 minutes in, Carter illustrates the relative weakness in the financial sector-
Ratio chart compared to the SPY


JPM - Jaime Dimon - gave bearish mkt warnings this week- including about Financials....

SEC approves an ETHER ETF!

TSY video on other stocks to buy to follow the AI market-other than NVDA
www.youtube.com/watch?v=dBL3Uuddag8

If we get a "correction" , wheres the shopping list of future buys? TSY covers

NVDA; TSM-fOUNDRY- Major SEMI CHIP MFG; MU- MEMORY STORAGE; AMAT-FABRICATION MACHINES; ASML- ultraviolet chip etching machines-mfg -
How about LRCX? Also- Power for DATA centers- SMR-nuclear- ETN- VRT-cooling,GEV-GE power spin-off- global..SMCI- AMD chip mfg. ARM-chip mfg likely all winners-

GOOGL-Gemini APP- virtual assistant -Deep Mind- Project ASTRA-AI development & some amazing examples of what is actual in development today. GEMS-
www.youtube.com/watch?v=RHOYo-mbjEk
www.youtube.com/watch?v=RHOYo-mbjEk

MSFT and Open AI - Copilot- Googl competition in this AI race for Dominance-
Azure AI...
www.youtube.com/watch?v=nIfMIDd8ZW8

Amazing advances being made in how interactive These programs are becoming.

Just consider that the big funds already use programs to trade based on reviewing x-y-z- as criteria and make automated decisions-to buy or sell -
AI will be able to back test the TA criteria and tell the probabilities of a certain market approach- and possibly offer guidance on position sizing- based on the % of success.

HMMM... If everyone has this available, and it's heading for greater automation as we go forward...
Where does the individual trader find his niche?




5.24.2024

[sd]

5-24-2024 With 15 M to go before the Open, futures showing green- small

Today will be comparing SQQQ,TQQQ for trade signals.

Markets open higher-
A buy-stop above the high on the open 2M bar fills $63.28
The low of that bar $63.95 -stop $63.88.



11 am


11:20 am Stops again following higher- Price pausing below yesterday's resistance. split the stops one a bit wider.


11;37- Consolidation weakening under resistance- PSAR sells on all 3 time frames . Is this a thing?
Higher stop gets triggered on this pullback.



Tightened the buy stop lower- just above the consolidation.



Combined the 2 entries with a higher stop - The trailing position and the buy stop = stop 85 @ $65.58



red bars on the 2 & 3m


Was going to call it a day, but set a higher buy-stop $65.83 to re enter a new trade on a breakout to a new high.

That stopped out for a net loss .
Saw the consolidation basing-
Took that tight low entry with a Risk of $0.06 initially.
3 bars after my entry , price drops and then snaps back with a strong green bar move up- that faded

EOD- Good net gains in the TQQQ trades- Caught the majority of the upmove in the AM- I also had sized up a bit on my position with each Buy 50 shares. I need to tally up the actual gains versus losses to determine the overall net- Schwab does not seem to do that automatically in the P& L column for the day.
Also did a video of the trades today- a recap of what occurred. I hope to continue to do that recap as a means of keeping the critical decisions in focus- and whether I'm being discretionary or following the TA guidelines....

[sd]

Sat- 5.25.2024
3 day weekend- a strong salute to those that have served, and to those families that support their loved ones in service for the USA.

Saw this reference to "shadow Trader" referring to the Thursday WRB- and showing how at least 3x in the past 1.5 years it has preceded a major market correction.
www.youtube.com/watch?v=FWx538V9mMw

[sd]

5.28.2024 Tuesday- Nas futures to Open higher.
Swing positions taken Friday may see a jump higher. Those entries followed the Thursday sell-off and snap back recovery.



SMR is showing a +15% gain premkt.
See if it holds

sold 1/3 of smr on the gap high open- Price pulling back -Tech heading lower.
Raised stops in the swing entries.



TSLL-Long the 2x as it rebounds from the sell-off open.
will consider to ADD if it pulls back above my stop. relatively late on the entry .





TRailing buy stop fills $8.68 stop is $8.58 Risking $0.10 on 200 shares.




TSLL position long working


nice to have 2 active winning day trades

RAISED STOPS TRIGGERED ON TSLL

SMR splitting the stops


tsll re entry 2m too early buy stop

Although the trade initially moved beyond my entry cost- I jumped in too early - but trying to test that early hook signal on the 2MA time frame- Keeping the trade direction in context- this was a lower probability trade as price had made a LL- and was downtrending since the high made at 12:15 today.


stops raised on the up move in SMR

again-stops raised

smr 3.53




SMR winning trades and holding a small position overnight-




EOD Markets declining-

[sd]

5.29.2024 Futures have all soured into the RED!


DKS beat on earnings-pre mkt release.


aDJUSTING STOPS ON SWING POSITIONS- Giving them more leeway than I care to.
SMR SWING trade -small position- have locked in Gains.


Must have closed out this post earlier-
Tried an earlier entry in Dell- stopped out- re entry buy stop fills


SMR- Handled this well -overall- W-C-S- taken a tighter entry in the am consolidation- could have bought Closer to the P.o.F. $8.48
will catch up on charts made









11:15 tEPID Price Action-
Allowing stops to remain @ B.E.




11.28 PRICE MOVING HIGHER.


nice up move allows a partial sell near the upper trend line to net a +5% gain on that portion-
The remaining 150 shares stops are set $8.68- as I try to get a bigger gain on an all day move that trends higher-



12 pm- split the remaining position into 3 ea 50 share stops-
This will allow me to turn a stop into a mkt sell on a potential big thrust move should it occur.






12:54 PM - PRICE IS WEAK- CLOSE TO THE PRIOR SWING LOW -
2 POSITION STOPS REMAIN- SOLD THE HIGH STOP $8.88- NET A + $0.22 GAIN- BUT WAS HOPING FOR A $2 GAIN....
aS i WRITE THIS- BOTH STOPS TAKEN OUT.















1 stp raised 3:37 to $8.92

$9.00 Closes all below...








W-C-S followed Dell for a 3rd try :



EOD- UIPATH drops on Guidance-
Salesfoce -CRM- also down on guidance
Agilent down on guidance

PSTG up- C3.A! up.

Shadow trader follow up on his prior warning.
www.youtube.com/watch?v=6kygdoFHtWk
nO TRADING at tomorrow's Open- Appt with the eye doctor for LOLO tomorrow am.

[sd]

From 5-29 - Jason's evening report notes that market breadth is simply declining--
and we're ripe for a correction here- NVDA is the name that has kept this rally afloat-

some discussion on the LB board on trading- was interesting-

Won't see the open- Appt this am...






Devoid-His process is the one I find easiest to try to implement-
He's skilled in reading the Price action, and often getting that very low cost entry-
His many examples- of front running the 5M MACD cross are what have prompted me to explore the faster time frame charts, as well as adjusting the indicator values to be faster than the standard settings- He also has good success in accumulating large cumulative gains on swing positions held overnight- if he has a decent 'pad' by profits-in place.

I would encourage visitors here to check out the
www.leavittbrothers.com website- give it a trial- Checkout Devoids many chart examples- and consider to take Jason's masterclass- He brings TA down to a comprehensive level- and puts a lot -18 hours- of videos -into that program- Give his website a free trial-
use the Search feature to go back day by day- or by Name -

Sample of Devoid's 'signal'highlighted as the dashed line as the Macd makes the 0.0 line cross. Note the green arrows showing the actual entries -
On the chart- we see that he had a +2.2% gain -and the MACD cross appeared late on Monday.
His entry was on Tuesday- following a gap up open, but sharp sell-off. The Macd D had rolled over Tuesday, Price had dropped from the $65.80 level down to $65 , made a consolidation with higher lows.(critical feature to identify the change in bar character and that price made higher lows-) His entry was on the 3rd green bar as Price opened above the prior bar's close- or-perhaps it was on that bar when Price returned back up to the entry after going initially lower? So, a buy-stop seeing a price recovery -in play - .Price weakens from the Open- drops down initially, but then makes a recovery back up to the open -where the entry is made into the upside momentum.
Call this the Oversold Reaction Entry - There are 3 such ORE's shown on this chart-
The signal line -The MACD cross occurs only 4 to 8 bars later when Price has made the majority of the upmove.
Notice entry 2 on Tuesday-approx 2:30- he entered just above that bar's Open--approx $64.98, but that bar then had a sharp decline down to $64.84 - just above the prior bar's low, but it Closed about $65.04 .the Red bar low was $65.80.


Devoid's 5M chart followed by SD 3M chart



Note that in all of these ORE entries- the "HOOK" signal precedes the cross signal-
seen earlier in the faster chart- this is when the indicator just starts to turn in direction- and possibly makes a turn from heading down to slightly rising- .
All of these hooks occur when Price has entered into 'oversold' on the RSI-
But not every drop into oversold is a good Buy seeing a big rebound that follows-
Let's include the 'HOOK' on the RSI oversold- as the criteria.
Some traders use the CCI- and multiple time periods- 10,20, 30 - instead of the RSI-
This only occurs as a bullish bar-relative to the prior bars -is forming-
However, until a bar actually closes- one doesn't know if it will indeed close bullishly- or not- So, a faster time frame- with multiple bars- can provide that earlier assessment.
That also can provide more whipsaw signals the earlier one tries to get into a trade-
At 1st glance- there are many RSI 'oversold' in the chart during the day on May 29-




This chart shows 1 day TQQQ with the RSI 7 and CCI 7 and CCI 10
Some oversold upmoves Fail - almost 50% of CCI 10 'fail' as good up moves do not occur.
Has to be viewed with the entire picture - in context-
Chart and chart with price hidden







GEO has multiple CCI's and other indicators on his charts- confusing for me-
here's his comment on using multiple CCIs to judge a potential move
Worth a try to understand how other traders interpret-and execute- their charts.
Geo and Rat both use multiple time frame/Forks and Fibs - a complex system that they understand the probabilities- and can sometimes nail that very tight- low Risk- red box entry- for day and swing trades.

[sd]

5.31.2024- PCE report pulled the mkts into the green. Came in as expected.
Dell drops on subdued future guidance.






Revenge Trades failed- as the decline continues despite the improving 2 &3 M chart indicators-
i SIZED UP a bit on this last entry - Didn't think I'd be prone to "Revenge" trading- but today's failed trades in SMR were both bad for the account- as well as the mindset.
This example- Sizing up here on the buy stop made sense- it appeared to be a valid early entry-
However, the consolidation was higher- and had a pullback bar close to the prior swing lows-
I've seen this before- and it is often a precurser to a higher move- IF the low holds- I added to the position at $8.23- with the prior swing low $8.21 .
stop was a tight $8.19-.
it ended up becoming a 5th losing trade!
Walking away- I've given back my prior profits in SMR- likely net in the RED on that position after today!.

Tech is tanking today along with DELL-





THE $8.15 ENTRY STOP TRIGGERED $8.31-
wENT BACK IN WITH 2 ORDERS -
$8.43 MKT BUY AND A $8.46
sTOP RAISED TO $8.41.sOLD 1/5

[sd]

Good weekend- Recitals yesterday were fun seeing 2 of the girls performing.

Jasons index report- Hmmm

Weakness seemed to be building; cracks were forming. At Friday's low, it looked like the market was going to die. Instead of getting sideways movement to digest the gains off the April lows, the market was heading south. But Friday changed that. Maybe. It could have been just a 4-hour glitch due to end-of-month shenanigans, or perhaps that's all the downside we'll get. It was decision time when the week began, and I'm not sure a decision has been made.

Patience is a characteristic of all great traders. Waiting for a setup. Waiting for the right conditions. Waiting and giving positions ample opportunity to fully play out.

Newbies, with their thirst for action, jump the gun, which leads to mistiming entries. Then they find themselves in losses which are either booked or that peck away at their confidence. When their stocks recover, they either aren't in them anymore or their spirits are too dampened to take advantage of opportunities. Their stocks will often do exactly what they anticipated but because they didn't wait for the entry, they either took a loss or were simply thrilled to get out even. All because they didn't have the patience to wait for the entry.

Lack of patience also bites traders on the other side. They get a great entry. They have a decent profit. The stock is acting well, and the market is supportive. There's really no reason to sell, yet that's what they do because they have an itch to scratch. They make a few bucks when they could have made significantly more. If they just had the patience to sit tight and let the chart fully play out.

It's said amateurs fail because they take losses too late, and pros fail because they take profits too soon. The former leads to small losses turning into big losses. The latter leads to booking small wins and not giving them a chance to grow. Both habits kill traders. After all, the two rules are: cut loss and let winners run. Yet most traders are too slow to cut loss and too quick to sell winners. And that's why most don't make it.

Patience is needed right now. The market is doing great overall, but a digestion period is needed. And not I'm sure what to make of Friday's massive reversal.

Needing patience doesn't mean you go to cash and wait because by the time you get the all-clear signal, the market will be a few days into its next move. And you'll hesitate to get on board. It's better to keep going, trade the best setups, but to keep expectations in check. Follow through may not be as robust, and there could be a lot more dead days where prices go nowhere. We are, after all, heading into summer.

Jason also points out that Software stocks- enterprise- SAAS- and security-as well - are all getting trashed -and most giving subdued guidance
C3. AI seems to be the exception this week.









and more- So, the shine is off Software! and Tech coming under greater scrutiny- Seems as though the Hype around AI is not benefitting these companies- are they in Jeopardy? Will AI become the next dominant theme that crushes these once market leaders-falling back to the status of -Justify your High PE.

[sd]

6.3.2024
Futures MIXED with a couple of hours to go.Nas & S&P in the green.
Caried over a couple of swing positions from Friday.

NVDA shown up $30 premkt


The MKT seasonal performance in JUNE-



Trump was found guilty last week on 34 counts...
Trump is being vocal about the verdict- Judge had imposed a gag order-
Biden increases tariffs on EV and battery imports.
OPEC to cut production. US Production of oil is up substantially from last year.
Global wars continue-

mARKETS CORRECTED fRIDAY AFTERNOON-
Was this a one-off- or the start of a step up again this 1st week?
This is interesting- The Financials- large caps- were in a decline this week but reversed higher mid week-
The SPY continued lower until Friday pm.
2 week chart: Note that Financials were downtrending-
ahead of SPY- but made that upturn 2 days ahead of SPY.


BNKU -THE 3X FINANCIAL.


The Perf chart compares the performance of small caps, Mid caps, SPY


fLASH CRASH- smr








BRK.B also showing a flash crash.



Bloomberg automated "News"


Reuters article :
NYSE glitch sparks volatility in dozens of stocks
By Arasu Kannagi Basil and Noel Randewich
June 3, 20243:48 PM EDTUpdated an hour ago

www.reuters.com/markets/us/nyse-equities-investigating-reported-technical-issue-2024-06-03/


Item 1 of 2 Traders and floor officials react to technical issues on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 3, 2024. REUTERS/Brendan McDermid
[1/2]Traders and floor officials react to technical issues on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 3, 2024. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab


June 3 (Reuters) - A glitch at the New York Stock Exchange (NYSE) triggered massive swings in the shares of Berkshire Hathaway (BRKa.N), opens new tab and Barrick Gold , and trading halts in dozens of other companies on Monday, before the bourse fixed the problem.
The NYSE, owned by Intercontinental Exchange (ICE.N), opens new tab, by late morning said a technical issue had been resolved and that the impacted stocks had resumed trading.
It was the second stock market hiccup in less than a week after a glitch last Thursday affected the dissemination of real-time data for the S&P 500 (.SPX), opens new tab and Dow Jones (.DJI), opens new tab indexes for over an hour.
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The Consolidated Tape Association (CTA), responsible for disseminating real-time trade data on stock exchanges, said Monday's problem related to a new software release at one of its data centers.
The CTA said it resolved the issue by switching to a secondary data center running the previous version of the software.
It provided a list of 40 securities that were subject to trading pauses on CTA between 9:30 a.m. and 10:27 a.m. ET and that were potentially impacted by the technical issue.
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Some of the stocks halted on the NYSE showed unusual outsized movements.
Berkshire Hathaway's class A shares and Barrick Gold were shown to be down 99.97% and 98.54%, respectively, due to the technical issue, before those trades were corrected.
After trading resumed, Berkshire Hathaway was down about 0.3% and Barrick Gold was up 0.6%, and investors said overall sentiment was unaffected.
Berkshire and Barrick Gold did not respond to requests for comment about Monday's technical problem.
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00:25
Market Insight: Factory activity expands across most of Asia but has China in particular turned a corner?






The S&P 500 was last down 0.4%.
"I don't think the overall market is reacting," said Art Hogan, chief market strategist at B. Riley Financial.
The NYSE and the CTA said the problem was related to limit up-limit down bands meant to prevent extraordinary market volatility and extreme price movements in individual stocks by preventing trades outside of specific price ranges that are updated throughout the trading day.

The price band for each security is set at a percentage level above and below its average price in the preceding five minutes.
The bands were developed as part of the response by financial regulators and exchanges to the "flash crash" of 2010, which briefly wiped out nearly $1 trillion in market capitalization in a few minutes.
On May 6, 2010 when equities were recovering from the financial crisis and in the early stages of what would become a near 11-year bull market, the Dow Jones Industrial Average tumbled almost 700 points in minutes.
Exchange outages, caused by software and hardware glitches, cyberattacks, and even hungry squirrels, have roiled markets and shaken investor confidence for decades, as trading has moved from the floors and pits of bourses to electronic systems that match trades at nearly the speed of light.
In February 2023, the NYSE said it would reimburse investors for losses due to a glitch that caused widespread confusion and resulted in thousands of trades being nullified.
The NYSE did not immediately respond to a request for comment about whether it would reimburse investors potentially affected by Monday's issue.
Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
Reporting by Arasu Kannagi Basil in Bengaluru and Sinéad Carew in New York; additional reporting by Chuck Mikolajczak in New York; Additional reporting and writing by Noel Randewich in San Francisco. Editing by Krishna Chandra Eluri, Mark Potter and Rod Nickel

[sd]

EOD- I jumped in to XLF this afternoon - Previously , I had seen that it was turning higher several days earlier- but the SPY was dropping last week -until Friday pm reversal.
I went into XLF after it had sold off from today's initial big open, declined, and then made the U turn.
Bullish Closing back above the trend line- holding this overnight as a swing trade.


The SMR trade- My sells on 2 orders that filled at $0.13 were negated- One stop was shown to execute @ $8.70- while the other order is open- shows me holding a few shares still- So, I'll be happy that the exchange negated the flash sell-off- and will be happy to take the gain from the raised stop.
Even if the other stop order is not filled as it should have been- it is a small trade -and getting it negated- breath of fresh air- account ended up in the green versus the RED.

[sd]

Tuesday June 4, 2024

Futures solidly in the Red premarket-

I held the XLF position overnight- Had a small gain going into the Close yesterday-
This am- premarket- it's showing a loss of -$0.80 - but what prompted me to hold this overnight was the prior trend that had turned up before the SPY turned day later on Friday pm. The fact that it was showing strength days before the Friday market turn higher was a compelling reason to take the trade.
Friday I jumped back into MGK as the U turn in the mkts was underway-
I had owned this for 2 weeks during part of the MAY uptrend. Sold on a volatility drop below the 21 &34 emas . Net gain just $6.61 or 2% over that period of time.
The Friday Buy was more timely- Big downside volatility 5-30,5-31- but a mid day reversal gave a low Risk point of entry. $288.98. Sold into the higher Open Yesterday- to lock in gains- did that as 2 trades-
One market sell for 1/2 caught the am move higher above the open with a raised trailing stop $294.95. @9:44
The wider stop was taken out $294.40 @ 9:51. Price dropped back as the day proceeded, and tried to recover in the late afternoon. Futures are in the RED today, as the cautious guidance of companies like VRT, DELL should benefit from this AI - but they are not showing it to be the outstanding driver of bigger revenues. Perhaps that entire field is narrowing- just as the cyber and SAAS enterprise software companies
are seeing weakness- Their once elevated PE's are being evaluated by the mkts as being priced too high.


XLF- I'll give this a hard stop - will try to not give back $25 on 100 share position- but you cannot trust that the Opening price is necessarily going to set the direction for the morning-
I may split the position- setting 2 stops- gauging the premarket bid/ask pricing -
Presently it's -$0.23 @ 41.15- cannot trust what goes on in the premkt. I think my entry cost was $41.16.- so a logical stop will be under yesterday's swing low $41.01- and since the Round number is right there- a stop @ $40.96 gives some room for the wider stop-


The 1 hour for a wider perspective- Price is trying to reverse the present downtrend.




So, set the stage- Stochastic 14,3,6 has to turn higher- make a upside 'hook' prior to the Cross higher above the declining Red slow line. If I modify the stochastic settings to be more reactive to Price- 10,3,3 the signal will be a step ahead of the 14,3,6 . Early is not necessarily desirable though.
However, adjusting the indicators to be more responsive than the standard slower settings that everyone else uses may give that early edge for a more timely entry-





Note how much slower the 12-26-9 MACD signal is on the 1 HR chart



the open- XLF has a gap down open to where I paid for it-

Moved higher off the Open low-
stop @ 50 @ B.E. 50 @ $41.10 - hit an up move $41.34



9.42 am -consolidating


Price is stepping higher 9.44


9.46 am pushing to a HH than yesterday's Close!


Side note- SMR triggers my $7.75 stop earlier.Filled $7.74- present price is down to $7.08- completely out- of SMR-


10 AM BREAK OUT


tHE TRADE HAS MOVED HIGHER- 10:05 AM- WILL TRY TO ALLOW THIS TO BECOME A LARGER WINNER- IF IT BEHAVES


fOCUSING ON THE 1 TRADE
cAME VERY CLOSE TO MY HIGH STOP - Token sell for 25 shares to net a small profit- W-C-SW sold at the earlier higher move.

10:14- a 2nd red bar turned blue- indicators weak- SPY is weak

10:17 am did not like the previous pullback. stops adjusted higher under the 1st pause- $41.24.

10:30 am- sideways range .





STOP TRIGGERS-
nET -$8 LOSS ON 99 SHARE POSITION.
sO MUCH FOR THE EXERCISE OF TRYING TO 'READ' AND CAPTURE THAT EARLY ENTRY THAT NETS A BIG SNAP BACK UPSIDE MOVE-







12.37 BUY STP 41.04 FILLED- LEAVING STOP $40.99
Spy and XLF seem closely correlated in behavior today

1:30 S&P, NAS indexes bearish slightly


2:45 pm - sold 1/2 of the position on the momentum up move-
Remaining 50 shares stop $41.14- hoping to see better momentum this last hr + .
SPY and XLF closely correlated in price action today


I've been recording the Trade screen using OBS- and have tried to combine the on line video capture along with my thoughts- and, it's obvious that I need to get the videos clipped and compressed. I was hoping I could use this as a review at the EOD - but I have to get this to be more succinct.

[sd]

eod: THE XLF TRADES -wAS A SWING TRADE HELD OVER ON A PURCHASE THE PRIOR DAY-
It had a bullish close that day- but opened down to where I bought it- $41.16.
I had lowered my stop to below the round number initially- Risking $0.20




Traded SQQQ/TQQQ this am- Tried for the bounce in SQQQ- TQQQ was up over +2% at the open.

Did a 100 & then a 250 share entry- both stopped out



NVDA pushing $1200 - Split tomorrow.

Back long MSFT, MGK as swing positions. MSFT provided a move higher following a drop/sell-off last week.

incl IWL,XMMO.
fED TOMORROW. i MAY ADD TO THESE POSITIONS BEFORE THE eod- Nice mkt rally.
ifra AS WELL-
BNKU -Late entry as it approached the breakout $29.94- following the XLF- trade stop is at B.E. with price at $30.07





No trading tomorrow am- LOLO gets her cataract laser surgery tomorrow in the other eye.

[sd]

Shadow Trader looks interesting-Legit
Fast forward through the interview with the fundamental guy to where he discusses his 'Market Profile' analysis of ARM up through May 10 - and how he sets up his Option trade-
Sounds like he has an inexpensive $20/month to his pre-market assessment- Worth a look.

Lolo had a successful 2nd cataract removal today- Tried lunch at CAVA- Mediterranean style food- Also a publicly traded company that just recently went public and is gaining share- compared to CMG - Chipolte- This place was packed ; Had a spicy lamb meatball bowl with rice, beans, several different Hummis - It was good- not outstanding- lunch for 2 $35. I'll give it another go down the road-

[sd]

6.7.2024 Premkt - NAS ,Dow, S&P all slightly green
Jobs report @ 8:30- this is what the mkts are waiting on - to determine how to game the FED.
Roaring Kitty on you tube today for his GME position. GME is selling a bunch of shares at this elevated price....
With the large cap indexes outperforming- The jobs report- turns the markets into the RED- Unemployment now up to 4%- wages increasing.


My recent swing positioning will see a drop today- It all turns on the FED potentially considering a rate cut -and that is now less likely with today's reports.

Futures go deeper in the RED as the mkt assesses the report- A potential fed rate cut is now pushed out into the fall months-
Will have to see how the markets settle in after the Open- and I have to assume that we will see a drop gap down on the open.

It seems that the reality is that the lower income segment-incl- Middle class median- is really struggling here and finds themselves on the losing end of higher inflation, higher credit card rates, higher everything, while a narrower higher end segment is keeping things afloat. Warnings from the business segments of seeing pressures in lowered sales for the less affluent consumer is telling the story.



10:30 - MKTS not selling off hard following the open gap down open
















EOD- Pat retires from the Wheel- Gotta mark the important stuff!

[sd]

Saturday-
Shadow trader recap
www.youtube.com/watch?v=Xl7_6syZPlQ