New Long Setup: SSO My SSO Entry Price: 70.92 My stop-loss: 68.73 My target price: 74.90 Risk Rating: 4.1 Looks like the broadcast functionality for Whatsapp isn't currently working... will look into what is going on with that after the closing bell
Trading Notes: Some signs under the surface on Friday that the market was starting to show signs of wanting to bounce. The weakness in large, mega-cap, tech stocks were masking some of the underlying strength that was being had by other stocks. Any trade that comes from this bounce will [...]
Today's Reading for 4/19/24: 21.71 Current Reading: Tilting Bearish Additional Notes: Some signs under the surface of a market bounce that could be seen in the short-term. Also slight bump higher on the SMO, adding to the increasing likelihood of a near-term bounce. Interpreting the Chart: 0-10 is "Extreme Oversold" [...]
Trading Notes: Yesterday marked the fifth straight day that the S&P 500 finished lower. In the process the index is now flirting with conditions that are conducive to a bounce - i.e. its oversold in the short-term. Last night, futures fell apart on escalating tensions between Israel and Iran, only [...]
Today's Reading for 4/18/24: 20.00 Current Reading: Oversold Additional Notes: Fractional improvement that leaves SMO still in oversold territory. Trading lower for a fifth straight day, the odds are improving for a dead cat bounce at the very least. Interpreting the Chart: 0-10 is "Extreme Oversold" and is typically seen [...]
New Long Setup: XLV I BOUGHT XLV at 139.13 My stop-loss: 137.19 My Target: 144.60 Risk Rating: 2.1
Trading Notes: The market is still attempting further price discovery to the downside. This would be a fifth straight day of selling if it does it again. Market conditions are oversold in the short-term, my stock market oscillator has a 19.45 reading which puts it oversold territory for the first [...]
Today's Reading for 4/17/24: 19.45 Current Reading: Oversold Additional Notes: SMO hitting oversold for the first time, following a 4-day sell-off with the S&P 500. Getting to where if this is just a normal, routine sell-off, then I'm expecting a bounce here pretty soon. Interpreting the Chart: 0-10 is "Extreme [...]
I closed the rest of SDS at 27.01 for a +4.1% profit.
Trading Notes: I booked another 1/3 of my original position in SDS yesterday for +3%. I did so because as the market enters into oversold territory, while we are still in a bull market, it is beneficial to aggressively book profits along the way, because at some point there will [...]
Today's Reading for 4/16/24: 23.30 Current Reading: Tilting Bearish Additional Notes: Practically a no-change reading for the Stock Market Oscillator. After multiple bounce attempts , stocks essentially finished the day flat, along with SMO. Interpreting the Chart: 0-10 is "Extreme Oversold" and is typically seen in strong 'Risk-Off' market conditions, [...]
I closed 1/2 of my SDS position (1/3 of original) at 26.73 for a +3% profit.
