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Post by sd on Jul 16, 2024 11:02:19 GMT -5
Ophthalmologist this amp- things checked out OK-
Added to DIG, and the move snapped back higher- Now stop above B.E. on the larger position.
Similarly URA - I added and raised the stop for the entire larger position to $30.20 Seeing a 2nd upmove attempt to R.O.T. In the Red in this position- Green in the others. Poor selection to enter. Thought energy trades overall would see a pop on Trump's confirmation...
Dig position has an elevated stop above entry - also added to that off the pullback open, getting the benefit of the oversold reaction move higher. XLE represents the underlying index for Dig (I think) Dig is choppy and gappy- with wide spreads-
How Banks work-Warren Buffet's concern about the commercial real estate exposure for regional baNKS
www.youtube.com/watch?v=3_jC2RBAa3Y
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Post by sd on Jul 17, 2024 7:51:46 GMT -5
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Post by sd on Jul 18, 2024 9:21:13 GMT -5
7-18-2024
acn REENTRY YESTERDAY on strength.
Aggressive with a trailing stop on this momo move.
Back in full position - 10 +10 R $1.44
![]() i.imgur.com/m5OiTLx.png[5/img]
XMMO- was late in viewing this up move- jumped in and as price stepped up higher- tightened stop to net a gain if it pulled back- it did- small profit
but not a loss.
added 10 as price based near the low of the base.- holding 30 shares.
MAJOR indexes at sessions lows.
ACN raised a large position inside this base- and Risking $30.00 on the 30 share position
Nice gain from the add made yesterday and the aggressive stops.....
@ 12:00- Price is easing a tad higher out of the base- Indexes are still being sold off.
I have a Dermatologist appt @ 1:20- so I'll make an initial stop adjust higher if we get further upside price action-
I'm tempted to raise to be under the 2nd swing low $329.88- but will allow this to be here unless we get a better upside move.
My 'Bias' for this is that it appears to be a relative strength outperformer- Not selling off with the sector.
12.35 potentially working
Off to the Dermatologist- On my return, I see Price indeed went higher, but then faded - I raised the stop to $329.95.
EOD-
Simple wisdom and experience talking:
EOD- Overall, I feel pretty good about today's performance- net gains in XMMO & larger in ACN- small follow up loss in ACN but I feel like I 'read' the price action decently- - just looked and my Fill sell price on XMMO was at my exact entry price- although my stop was $0.10 higher. So a B.E.on that .
I also had sized up on the ACN position- and gave back about $1 per share- so- $30 off of a bigger win $150.00 was well played.
What's evident is that if I have expectations of generating income thru day trading, I better be willing to size up.
today's pullback as viewed thru the 2M chart of ACN - the 1st assert - green bars above the declining 8 ema- saw a shallower pullback- so that swing low that was made ahead of that 1st assert (1st impulse?) Term that Devoid uses.
I'm going to also mark up another chart and include a closer look at the Price bar action, and also without price bars
The repurchase after the morning
Tom Bowley warning-https://www.youtube.com/watch?v=7ytrpwpphtI
Last call with Brian Sullivan is cancelled as of tonight by CNBC-What a shame!
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Post by sd on Jul 19, 2024 8:14:40 GMT -5
7.19.2024
OE today- expect volatility to remain.
MSFT impcted by a Crowdstrike update that was flowed.-CRWD down large- FTNT,S seeing gains premkt.
Futures were slightly in the green/flat.
mARKETS ALL IN THE RED THIS AM-
bIG ISSUES WITH msft DUE TO crwd update affecting many sectors-
Can't trade my way out of a paper bag this am- Done for the day-until I get my s... together.
Did a stupid impulse trade in BTBT- and was oversized relative to the Risk on the entry- Got my just desserts handed to me very quickly-..
should have gone to the short side .....
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Post by sd on Jul 20, 2024 4:36:58 GMT -5
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Post by sd on Jul 22, 2024 7:20:25 GMT -5
7.22.2024 Future in the green-
Should see a pop in the cyber ETF BUG this am- Stop adjusted $29.20 Entry $29.16 Bid/Ask $29.31/$29.51
CRWD down premkt.
SMalls open in the green.-TNA
President Biden announced his resignation as a candidate for the upcoming Presidential election-and put his support behind Kamal Harris- his VP.
However, Harris has to get the support for the upcoming Democratic party election confirmation as to who will be the candidate into the election.
Interesting variations on the MACD-
The Divergence recognition settings available -Excellent
www.youtube.com/watch?v=xOGgiGCujFo
more on MACD- so many Youtube videos
www.youtube.com/watch?v=rtmWstwXVYk
Beast on the LB Board shares his charts and commentary-
Here was his interpretation of the price pullback on both the NQ and ES (Tech and the s&P from the Futures- )
We see the "HOOK" today on the faster indicators in the charts- but the slower MACD does not 'confirm' - I asked him to share/expand how this difference affects his perspective on the trading. He also trades futures quite successfully- and uses a fast 10 Second chart along with some slower time frames.
eXPECTING crwd TO MAKE A HIGHER tHRUST FROM THIS RECENT ENTRY - i'VE HAD 2 FAILED EARLIER TRIES HERE.- SEEING RESISTANCE BEING TESTED FROM THE HIGHER BASE $263-
pOTENTIAL FOR A REBOUND? sTOP NOW $264.75- NETS $1 IF TRIGGERED- i RE ENTERED BECAUSE OF THE TIGHT CONSOLIDATION ON THE PULLBACK AT 1:30 .
TSLL was consolidating higher- I tightened the stop @ 3:50- price came down to hit my stop- Price rebounds higher.
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Post by sd on Jul 23, 2024 8:05:15 GMT -5
7.23.2024 futures flat.
Changing up charts a bit.
BEAST has some unusual charts- His focus is to find points of excess and take an entry -long or short-
He posts his charts along with his perceptions on the Leavitt board. Likes to compare potential trades on 2 time frames.
MACD is at an extreme. Another rule of the Hook System is when the MACD is at an extreme - odd things happen - No way would I want to catch that falling knife except on a 1 -3 minute chart.
CRWD 2 & 10 minute - I saw Pete B's comment earlier today, but just got around to taking a look at in a Beast-A-Vision.
The 10 minute is the starting point. You have to make sure the MACD has moved close enough to the zero line OR there is a bull divergence in place. That condition was met shortly after the cash market open (8:30 am in my Cave). Price has been forming a solid base (which brings the MACD closer to zero). RSI is also bouncing around oversold and has a bull hook Look for a trade on a smaller time frame (the 2 minute) - trade Hooks Accordingly.
It's MIller Time.
Another reference Beast has provided - was referring to a 2nd hook is often the best signal- I think this likely refers to the indicator responds to Price- and a 1st assert to reverse the trend often fails- and it is followed by a dip /pullback- potentially even lower Price action- before a 2nd attempt gets it's footing, and reverses the decline/downtrend, and moves higher-
GEO is a strong proponent of the "HOOK" system developed by Beast- He post numerous charts - some with Fib and Forks- and some just using the indicators applied to the Hook approach-
Note that he has numerous duplicate indicators- CCI's for example- No point to build in a redundancy by combining slower indicators if you are looking to get an early entry....It would seem that one would have the Devoid approach- KISS-
Keep it as simple as possible-
A comment there- While D shows the 5M time frame MACD 12-26-9 as his 'Signal" along with the 3 ema upcrossing the 8 on the 5M time frame- On many instances the 5M 0.0 line cross is very late.
D also often front runs the entry- and is adept at buying the bounce in price on a sharp drop- Very much similar to how the Beast criteria suggests an entry on the Hook on the indicator-
Getting exposed to the common theme that several traders- all using different approaches- seem to often focus on- Rat, GEO, Beast, Devoid- Finding an entry -or the exit- at a turning point in the price action.
Devoid has many examples of both Day- and Swing trades- One of his criteria for holding a stock for an overnight Swing is to have at least a +3% gain -or higher- to carry a position overnight- Typically this will be in a 3x ETF.
For my self, I'm trying to take heed and apply what appears to be the methods to get into -and out -of a trade -3x - and regular-
I've just added the MACD 12-26-1 and the MACD 7-16-1 (faster) - as an indicator - along with a 6-14,3 MACD and histogram- vs the 12-26-9 - When I view some of the Charts that show hooks on the indicators- the MACD 12-26-1 is slow to respond- That may be exactly what is needed to prevent too many whipsaws. viewing the chart - the 7-16-1 Hook occurs ahead of the 12-26-1- and what is especially useful- is the crossover of the 2 lines as a point of reference. Particularly if Price has reached an overbought/oversold condition.
Instead of having both the RSI and the CCI, both seem to respond in tandem- but the CCI 15 seems to be very responsive to price- and the oversold and overbought levels are more obvious- I could have selected CC!- 10 or CCI 20- so settled on the middle time frame.
Par SAR- Often this seems to be very timely on an entry- but is behind the MACD cross- It will take practice to better understand the nuances here- The 'Hook' often seems to occur several bars before the Cross (MACDs) - and the Psar often occurs at the crossover. In trying to learn to get more adept at an early entry- close to the P.o.F. (Point of Failure- where a stop should be positioned- $0.02 below the swing low)-it is worth studying.
Ideally, I want to develop an entry and exit -by focusing on the faster time frame -1,2,3 versus the 5M .
I'm initially trading small position size as i try to execute on the faster time frame.
As an example, the 2M UDOW chart is marked up with the potential indicator cross/signals from an oversold level (CCI) , and the Hook on the fast MACD - Note- the 200 ema suggests a sideways trend - and identifying a sideways or an uptrending longer theme is likely just the smart way to get positioned by trading With the Momentum as opposed to against it.
Also- it's important to understand that indicators LAG price action- for a declining indicator to Hook and make an upside turn- the present price bar has to make a higher close if price was in a downtrend- Indicators can appear to be turning higher- depending on the price action- but the 'real' indicator turn has to see the price bar on that time frame CLOSE bullishly ( or bearishly in the example of a decline)
a 1 day chart- UDOW but - Why bother...to post here?
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Post by sd on Jul 24, 2024 6:27:01 GMT -5
ROSS-MACD the basics- scalping
www.youtube.com/watch?v=2n2Jt0PEPss
7.24.2024
Futures -RED- Nas down big!
BEAST- Teaching post
QQQ - A discussion on overnight swing trading and having a short term bias. I was asked by one of my formet students if I was Long SQQQ and holding overnight. I said I was Long SQQQ...and he said, I don't see it - teach me...More enclosed...
Below are 24 hour charts of QQQ 15, 30, and 60 minute. When I short term swing, my standard "go to" guide chart is the 10 or 15 and then I trade the 1 or 2 minute from there. By that I mean, when I see the RSI on the 10 or 15 minute at or into oversold or overbought, I will look for a hook trade on the 1 or 2 minute. It works very well...most of the time. Today, not so much. I am often asked, "how do you know what time frame to play?" and my answer is always:
"Whichever chart is talking to me - where I see hooks be played because that is where the algos are playing - and it can change - because different algos playing different time frames will suddenly be trading MORE shares (volume) than other time frame algos. I still look for whatever time frame is talking to me"
Tonight is a great example of trying to bring clarity to a messy chart. My former student did not follow my rule to look for charts in time frames that talk to you. He stuck to the 10 and 15 minute and became lost today.
So, I sent him the following: Look at the 15 minute chart on the left. Do you see many hooks? What did Jase just say, "if you have to squint - it's not a trade..." That was great advice. The 15 minute chart is a mess EXCEPT there is a messy divergence between price and the MACD 12, 26.
So what SHOULD you do. Either go UP or go DOWN in Time frames - it's a click of the mouse - takes a second.
The middle chart is a 30 minute chart - Still messy, but that price / MACD divergence is a lot clearer (for those that don't know my system- An MACD/ Price divergence beats ALL other things - it's like a Royal Flush in Poker Cards. Also, some other divergences are getting clearer
That was interesting, let's move up to the 60 minute : And BOOM! To my eye, it's all there. There is a clear Bear hook on the MACD 12, 26 compared to price (price / MACD divergence). And when my eye looks at it given how I have trained myself over the years to look at charts - I see the entire technical chart LEANING down (I am not looking at the price line at all). All the technicals SLANT DOWN. My bias is DOWN.
Bottom Line: you are looking at 24 hour charts (because I get better signals with 24 hour charts although ALL of my trades are taken within the cash market hours. I was / am Long SQQQ going into tonight's earnings reports.
Crazy holding overnight with TSLA and GOOG reporting? Nor for me, I am correct on a probability-wise trade a great deal more than I am wrong. Could I reverse and exit at the open tomorrow if the market reverses hard? Sure, but that's the game and I generally don't lose much compared to the Risk / Reward trading this way.
Besides, the higher the time frame signaling, means the better probability for a longer term move and a larger % profit if you then trade the entire thing on a 1 or even a 10 minute chart.
The above was my message to him to NOT be rigid in what you trade. The market changes in volatility - change with it instead of fighting it. Sometimes the trends are long (trade longer term time frames while sometimes the ups and down are short (trade the shorter time frames). We have technical trading abilities that the individual at home traders that traded back in the 1950's to 1980's never would have imagined. Use it, don't fight it.
Expanded the 3 charts
eod- sTOPS TRIGGERED AT THE OPEN ON 2 SWINGS i HAD bought...and the markets tanked today- The S&P is now -8% from it's July high- and the market rotation didn't save small caps today -
Good time to be defensive- lock in some gains if you have them and cut any losers.
I did add NEE,XLU, as defensive plays- and TMO on it's bullish beat- swings.
Toyed with small position trades on the fast 2 M charts-
CMG popped initially on earnings- but is seeing prices come back-in AH-
F- losing big on it's EV production-
GM-also posted a miss.
TSLA dropping hard on a revenue Miss- W-C-S have bought TSLQ yesterday. MUSK again tried to focus on the 'Future' , but that story has been offered time and time again- Investors haven't seen the FSD- the Taxi, the $25K people's car-
10 yr yield- 4.28% -
Sentiment drives stocks up- along with the HYPE- That balloon seems to be deflating - fast- So, don't hang your hat on yesterday's hyped up names- Transition and adjust...don't be immobile.
Some of the messaging is that many companies jumped onto the AI bandwagon and are 'over investing' but haven't seen a justified return on that over investment- and it could be a long way down the road.
Keep in mind- the biggest past winners can also become the biggest future losers....Lock in some of those profits- because a paper gain is just something transitory that makes you feel warm inside- The $$$ one captures pays the gas bill to keep the house warm in the winter.
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Post by sd on Jul 25, 2024 20:26:36 GMT -5
7.25.2024
tODAY WAS A Good trading day! -
I started off with 2 small losses, but made it back and ended solidly in the green-
I traded AVUV- a small cap value etf- SQQQ,ACN .
During the trading day, I simply focused on executing and keeping stops adjusted-
One training tool I think is becoming quite valuable is to record my trading sessions, with verbal comments as I go, and then give that recording a review/recap after the trading day is over. I use OBS on my laptop, and the trading screen is viewed on my separate monitor- I cannot imagine trying to trade off a phone screen- but plenty of people apparently do that.
Since I'm retired - and at home, I invested in a 34" LG monitor along with a less expensive Legion laptop- I recommend this for those that have the opportunity -to set this up- It's a small investment- but the larger monitor is indeed very worthwhile as I can run multiple stock chart windows- up to 8 on the monitor- but I generally run 3 separate windows- each 1200 wide chart settings- side by side simultaneously. The laptop can have the Trading account order screen active on it.
I periodically pause the recording process - but sometimes forget to hit the Stop recording button - That can make for an extended video with periods of screen chart being recorded-but without much commentary-
When I do the video recap/review- at the EOD- or the next am premkt, I again record the video and can fast forward thru uneventful sections- I can also pause the video, and make some observations and comments on the new recordings-Such as :
Why didn't I raise my stop when it was obvious that the trade was in jeopardy- That occurred this am as I was up early, and review an older trade from weeks ago, and I heard myself rationalizing why I wasn't tightening my stop higher when it was obvious the trade was going to go from an initial small winner to a potential loser.
it's also useful when using a new time frame or chart indicators to explain the potential application that hopes to be achieved.
While keeping and updating a journal should be done daily, it's difficult to try to note comments or other info while actively following a day trade. Swing traders may be able to accomplish that more effectively.
During the Day trade, I used to pause the screen to try to mark up the entry, the stop- and periodically the stop adjustments- That chart pause and annotating is a real distraction , and a lot can happen in the 1-2 Minutes it takes to make the annotations. I was very busy today- occasionally jumped into a separate trade- but ideally I will focus on both a long trade and the inverse trade- Getting off target- and responding to a comment made about a stock on the LB board- or on CNBC can be a real diversion if I allow it to.
So, I think the video recap also offers a trader time to jot down notes in his journal- where he can note- the date, the positives on the trades made that day- as well as any criticisms .
As i watched -and listened to an older video this am- I became acutely aware of how I failed -in that trade- to tighten stops accordingly with the price action.
Viewing the video- in hindsight- made that acutely aware that -in that trade- I failed to respond in a timely fashion and raise the stops -to reduce the loss and to lock in some smaller gains.
Give a video recording a try- and then journal.
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Post by sd on Jul 26, 2024 7:37:58 GMT -5
Friday, 7.26.2024
Yesterday was a chopfest for swing traders- Markets appeared to rally and then faded into the Close-
Megacaps & Q's continued to see greater declines- Now the q's have gain back all of the gains made since the break-up in June. Pay attention- q's giving back -9% from the July highs-
Futures up large-@ 8 am
A steeper correction in the q's - to the 'support' box -is entirely possible -$440 the mid point- is just a -12% correction.
The S&P is only down --4.7% from it's high 2 weeks ago.
smalls :holding their recent gains but volatile price swings over the past 98 days.
AVUV- a small cap 'value' fund-
AVUV slightly outperforming the IWM
Swing- Purchased TMO on pos. earning - Picks and shovel supplier- Stop @ BE
aLMOST THE eod-
Good day again- traded both TZA and inverse TNA.
Bought a few starter positions swings- something I am loathe to do - but the pullbacks are a place to initiate-
TSLQ-
Journaling -Add-on. Sharing this... Journaling is important to try to record the trades-stops-losses and the thinking at the moment- Can be difficult to do- realtime- and a distraction. - if trying to make trades on the intraday time frames- and waiting until the EOD and several trades in and out-kind of blurs together- I've started using a screen/voice capture program (OBS) -but I think every computer can already do that- capture the screen and make commentary as to What I think I see during the trade- Where and Why I'm setting my entry stop- How much Risk- . and, if the trade works, where do I sell a partial, where I'm raising stops, and my exit. I pause the recording on and off - getting quick snapshots of price movements- and also commentary I make as to what is happening- I can review the video EOD- add comments in the journal- and I can edit/shorten the video down to the essentials later. I think this video recording brings heightened awareness during the trade - and the replay can demonstrate both my proper executions/failed expectations, as well as things I need to work on. Give it a try if you're not the proficient trader you aspire to be. and perhaps give it another review the following week/month to see if improvements have been made. - - KNewt1, 17:36 07/26/2024
I now seldom try to take screenshots during the trade and post them here- the video capture described above is an excellent tool .
I looked back at a video I had 1st made on some trades a month ago- and I was surprised at how reluctant & slow I was to raise and elevate my stops- thinking I was holding out for the big win...Just viewing and listening to that replay made me very aware of how "stubborn" I was during that trade- MY Greed and desire for a big win overwhelmed the obvious need to preserve gains- albeit smaller than I desired.
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Post by sd on Jul 28, 2024 20:09:48 GMT -5
music.youtube.com/watch?v=_7uryK_Mb68&list=RDAMVMDwf6STID_po
Lucy Thomas - Hallelujah excellent- inspiring music in this you tube composition of different artists performing classic hits. Listening as this excellent Sunday comes to a Close- and modifying a few charts...
Great Family day wading in the Eno river with my youngest grand daughter on her 4th birthday- and some of her friends.
Great inspiring uplifting music. Good to set a positive mood - control that space between the ears in a positive environment.
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Post by sd on Jul 29, 2024 11:01:11 GMT -5
MONDAY, MONDAY- Futures all in the green 7.29.2024.
Trade 4
I focused on trading CRWD yesterday- on the 2M chart and using the 10M. Made too many trades -scalping- with 10 shares each trade-
Ended up barely in the Green at the EOD- Doing the recap Tues am.
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Post by sd on Jul 30, 2024 5:34:39 GMT -5
Tuesday 7.30.2024
Futures in the green at 6 am .
Doing a recap of CRWD trades from yesterday-
Tried to scalp trade...- took 11 trades, 6 losers, 5 winners- and ended up only slightly in the green...
CRWD tried to reverse it's recent sell-off yesterday- got a few analysts recommending it as a Buy-
Losing trades were cut quickly- 5 losers lost less than $1 per share - from -$0.20 to -$0.85 1 lost -$1.49
Winners $0.27; $0.45; $1.78; $1.95 . ended up with a small gain on the day.
I didn't bother trying to trade any other 3x positions- Got into CRWD and viewed it closely.
Although I took a lot of screenshots yesterday, didn't take any time posting here many-
the video recording will be part of the recap I will use to review and get a sense of where I erred, what I missed, and did I cut my winning trades off too soon- Like Prof Devoid @ LB- he tries to give a winning trade the chance to weather some volatility- as long as it stays above his raised entry + profit stop.
Trade 1- Risky BUY the Open- see the decline on bar 2 -lucky that price rebounded-
took an early gain. Net + $0.27
Trade 2 -Good entry on the pullback move higher- good execution by raising a trailing stop- Net + $1.95
Trade 3 -another good entry - Trailing a buy-stop order lower- good trail of the stop Net + $1.78
Trade 4 -Not well executed buy order- Loss -$0.88
Trade 5 - Good entry on the 2nd assert- Good use of trailing the stop net +$0.92
Trade 6 - Failed to set the stop immediately- Distracted? Lunch? Largest loss - $1.49
tRADE 7- eXECUTION FAIL TO SET A STOP ON ENTRY-DISTRACTED-LUNCH
tRADE 8- GOOD ENTRY- fAIL TO TRAIL A STOP
TRADE 9 FAIL TO SET STP AND RAISE - NO IND SUPPORT
tRADE 10 -Execution Fail- Again- in setting the stop- set it as a lmt sell- executed immediately -sm gain.
tRADE 11- Stop w-c-s- have been tightened. Bid/Ask is about $0.20 so perhaps the stop was OK. Slippage.loss of $0.85
![]() i.imgur.com/IOnWHET.png![]()
notice that Price moved initially higher- stayed relatively strong while the broader markets rolled over hard.
Setting the stops immediately and correctly is necessary- I did not buy 1 share and hold to use as an active stop order in place .
That is something I need to continue to do- because it makes the trade entry order an easy order to adjust immediately when filled by adjusting the 1 share order stop to match the new position size on the fill. Also, the stop price can also be adjusted for the entire position-
likely will split the stops on larger orders-
Note that losses were seen trading long during the decline
Tues- loss on NVO
TZA a tad late entry on the R.O.T.
1 pm re entry
EOD TNA trades catch the reversal of the trend-
Ross video
www.youtube.com/watch?v=MiNV8UL18J4
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Post by sd on Jul 31, 2024 6:27:13 GMT -5
7.31.2024
Futures up large premarket-
Minutes from the FOMC today, Powell tomorrow-
Mkts gaining confidence on a September cut- Smalls seem to be the winner there in sentiment-
Not an easy market to hold though-
From Jason's nightly commentary at www.Leavittbrothers.com
PM Observations
July 30, 2024
The market was weak early and strong late and ended the day mixed, with a wide disparity between the indexes.
The day started in positive territory. From there, everything trended lower. The S&P and Nas went well into negative territory while the small caps experienced a much shallower dip. An early-afternoon bottom and bounce salvaged losses from some of the market while enabling others to climb into positive territory.
For the day, the Dow, S&P 400 and Russell 2000 moved up 0.4 - 0.5%. The Nas and Nas 100 dropped 1.3 - 1.4%, and the S&P 100, S&P 500, Russell 1000 and Russell 3000 fell 0.4 - 0.8%.
This remains a challenging market. And an unforgiving market. This isn't May any more. Or June. Or the first two weeks of July. It's a different market. We were warned a few weeks ago when the quality of the trading ideas dried up. Even if we liked the market, there wasn't much to play anyways.
MSFT had earnings after the bell. The stock is trading in the 390's in after hours.
Yesterday, several of my swing positions were stopped out -XMMO,SPSM,ETH. the mid cap and the s&p 600-and ether. I likely will re-enter today-at the higher price-and a wider stop.
stop $228.95- Risk $0.60
Adding a few positions ahead of the FOMC minutes- As risky as holding into an earnings report!
Potential for a lot of volatility reaction on the release- will see how it all settles out..
Mkts expect a rate cut will occur in September- today's wording are important.
Powell commentary seems to set the rate cut likelihood in September-IF conditions warrant- Markets are now very confident that
a rate cut will happen in September...
TSLA- entry this am - Price based- but I raised the stop to just above B.E. I had hoped it would show continued upside momentum- but it failed to do so- I was stopped out for a few pennies gained- but not willing to hold overnight as a swing without having what Devoid calls ma "pad'
Ended up adding a number of swings-several round tripped- and stopped out- up in the green though.
Meta up after earnings.
I'll be trying to give some of the swings a bit of leeway- The EW S&P appears to be outperforming the cap wt SPY which is overweighted by a few mega caps.
RSP,SPSM,AVUV,
added some diverse exposure- Energy, realestate, Gold, defense, utilities- will see if I can weather some volatility without pulling the plug immediately
7.31.2024
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Post by sd on Aug 1, 2024 5:26:33 GMT -5
8-1-2024 Futures slightly green
Tom Bowley's concerns about the Fed statement yesterday, and where we are in the economic cycle.
how jobless claims can trigger a recession.
His take is skeptical/cautionary on Tech & the overall market-
www.youtube.com/watch?v=2T87G2q1ZKE
Markets are hinged on the Fed policy- The digestion of Powell's remarks :
Worth taking a few minutes to view
Shadow trader - 3 line method- using volume profile to determine a change in trend may be happening. Futures, but it applies to index moves as well.
www.youtube.com/watch?v=EwI161aabwU
MACD basics-+ divergence explained well.
www.youtube.com/watch?v=qShed6dyrQY
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