Trading Notes: It’s the final week of the quarter, and it has been an absolutely amazing one to say the least, that included massive rally in July and into August, followed by a massive sell-off in late August and all the way through September. Now we are toying with the June lows and I have some bearish exposure still. I won’t be adding to that exposure at this point, and have tightened the stop-losses as noted below. That doesn’t mean I’m not open to the potential for further downside, that’s why I still have some exposure left, but it is a small amount at this point, and watching for potential bounces here as the market hits extreme oversold readings on numerous fronts. I want to play the bounce if the right setups come about. My main focus will be tech and discretionary, as they tend to lead to the upside during dead cat bounces. However, I am holding off providing setups ahead of the market open, because I don’t want to take any long positions, unless the market is rallying as a whole, and will need that confirmation in order to enter any individual trade setups. But if the market, sector, and industries all align, with quality trade setups, I will then be looking to play the market bounce.
Setups Triggered: None
Setups Waiting to Trigger: None
Active Trades: PSQ (1/4), SH (1/4)
Trades/Setups Removed/Closed: SH (1/3), SH (1/8), QID (1/8), QID (1/6), SDS (1/4)
(NT=Never Triggered, 1/2=Half position, 1/3=Third position)
Additional Strategies & Ideas: These are not official trades that I take, instead they are opportunities and setups that I find of interest each day and charts that I send out via WhatsApp to Trading Block members (Download the app and send me a message at 321-522-6733).