Really a tough week for me, trades were there, range was there, my sizing and timing were simply off, very fixable going into this week. We continue to see massive divergence with energy / industrial leadership and growth continuing to sell off. Be careful of recency bias market can pivot at anytime. I would my strengths right now have been really sticking to longs above short term 10/20 exponential moving averages and staying away from names are far below. Also earnings catalysts have been working, it’s been very helpful marking post market reactions to earnings movers and premarket levels to help establish where buyers and sellers are and where demand/supply is flowing. Expanded ranges= expanded opportunity IF you are sized correctly, if you are TOO BIG TOO FAST in this market the range can make the paper cut DEEP , and this isn’t 2020/2021 you don’t have 5-7 trades right behind your mistake to make up for it immediately. Different times call for different measures. I would say being flexible here is pretty key, continuation is becoming rare, don’t take your thesis of yesterday and bring it right into the next day, things are changing faster. I’m keeping watch-list light and going to see what comes, NO BIAS.
TSLA- going to use this as driver with market looking to short bounces on 214-216 if can’t get there don’t mind shorting lower if market confirms for a break of 198 , just thinking logically here, who is now the incremental buyer of TSLA? Short HF guys have been squeezed out , this stock is up massively still from 2020 still a 10 bagger, with everything else coming in hard on a valuation basis, I think TSLA can have a reality check. I’ll be looking all week to see if thesis confirms.
BA- example of strength on backend of +++ news ill be looking for a pullback in next couple of days to get long ideally 154-55 area
BAND- monitoring a weak open for a reclaim of those 18.60s and possible next leg
NVDA- gonna use as daily trader with QQQ, if market firms up can be 145-149 quickly so no bias i am going to see how this 138 area holds going forward
GME- still monioring all pops for a breakdown below 24 area
EDU- stronger china names will be watching vs 27.50
NINE- small cap momentum name with energy, former runner , watching if volume comes in
GOOGL- watching for a capitulation day or a grind up , theres only been a couple times in history this has breached the 200 week moving average looking if it can have a short term bounce
META- if this is going to offer a reversion trade, i need to see this firm when the market is week, not giving it too much attention, but when it does won’t be surprised to see a nice 8-10% move intraday with huge liquidity.
Great scan Josh.