3 days of selling of less than one point per day

That is what SPX has averaged over the course of the last three days when it finished lower each day – less than one measily point. For the bears that has to be infuriating. 

I don’t blame them – I would be too, if I were in their shoes. 

Now the S&P 500 is looking to gap higher to new all-time highs this morning, because at this point, that is the only thing this market really knows how to do. Earnings have been fairly well received today, with Caterpillar popping a cool 5% in the premarket. Meanwhile, despite the three day sell-off on SPX, the VIX has been down 9 of the last 12, and below the “10” mark for 8 straight days – an all-time record. 

I came into the day with a little bit of short exposure – That was my insurance in case this market wanted to fall apart on us unexpectedly. I’m not bothered by this one bit, but have a dominant amount of long positions in the portfolio. If I get stopped out of it, that is fine, the long positions should more than make up for that. Meanwhile, I was managing the risk, and making sure I didn’t get caught by surprise from the market. 

Stay safe out there today – always manage the risk, use today, to move up your stop-losses on your existing longs. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance: 

• 5 Long Positions, 1 Short Position

Recent Stock Trade Notables:

• Alibaba Group (BABA): Long at $143.65, closed at $150.40 for a 4.7% profit. 
• American Airlines (AAL): Long at $49.26, closed at $51.84 for a 5.2% profit
• Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit. 
• Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit. 
• IBB: Long at $298.24, closed at $303.74 for a 1.8% profit. 
• SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss. 
• Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit. 
• Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
• Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
• American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
• Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
• Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
• Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
• Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
• SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
• JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
• Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
• Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
• Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
• Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
• Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
• Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
• Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
• Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
• Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
• Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
• Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
• UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit. 

See my entire swing-trading past performance here.