My Trading Journal for the Stock Market Today: 

Higher, higher, and higher. I mean, whats to say the Dow doesn’t keep this going to infinity and beyond, to borrow from Buzz Lightyear. With seven seconds left of the trading session, the Dow pulled off a miraculous pop to push the Dow from red to green on Friday. Nothing is off the table with this market when it comes to buying the dip. 

And on Friday, SPX was down more than it has been in sometime when the opening bell rung. But nonetheless, it clawed its way back to profitability by day’s close. Oil despite being down on Friday, is still in a sideways trading range. The VIX, despite repeated attempts to break over resistance at the 13 level was smashed yet again to finish 2% lower on the day. T2108 (% of stocks trading above the 40-day moving average) dropped another 2.8% and down to 61.2%. That means, stocks as a whole aren’t showing the same kind of bullishness as the overall market is exhibiting. Something to be concerned with right there. 

I’m still trading long, and will do so, until the market shows some sign of weakness. I’ll still attempt to hedge some of my existing profits with ETFs like SPXU, and may do so again today, if the market warrants it. The forthniess in this market is unparalleled to anything I’ve seen over the last couple of years and is in desperate need to digest its current gains. 

S&P 500 Chart

Current Stock Trading Portfolio Balance: 

• 4 long positions, 1 short position. 

Recent Stock Trade Closeouts:

• SPXU: Long at $17.31, closed at $17.22 for a 0.5% profit. 
• Flex Technologies (FLEX): Long at $15.62, closed at $16.57 for a 6.1% profit. 
• Broadcom (AVGO): Long at $208.30, closed at $210.89 for a 1.2% profit. 
• Baidu (BIDU): Long at $174.70, closed at $187.00 for a 7.0% profit. 
• Ollie’s Bargain Outlet: Long at 33.20, closed at $32.50 for a 2.1% loss. 
• SPXU: Long at $17.58, closed at $17.24 for a 1.9% loss.
• Gold Miners ETF (GDX): Long at $25.22, closed at $25.04 for a -0.7% loss. 
• Corning (GLW): Long at $26.98, closed at $27.45 for a 1.7% profit. 
• Illinois Tool Works (ITW): Long at $127.74, closed at $129.86 for a 1.7% profit. 
• Marriott Int’l (MAR): Long at $86.16, closed at $87.51 for a 1.6% profit. 
• Microsoft (MSFT): Long at $63.45, closed at $64.09 for a 1% profit.