Trading Notes: Huge week of buying last week on the NVDA earnings. Futures are essentially flat coming into the new week. I am open to adding new positions to the portfolio, but more likely to be a slow drip than a fast pour. While the market run continues to look [...]
Today's Reading for 2/23/24: 56.58 Current Reading: Neutral Additional Notes:Â Considering how long it has been stuck in the 40-60 range (more than a month), it indicates that while the indices are printing new all-time highs regularly, stocks as a whole have become very choppy and non-directional under the surface. Interpreting [...]
New Long Setup ADBE I bought ADBE at 551.89 My stop-loss is 527.95 Risk Rating: 4.3
Trading Notes: NVDA and the semiconductor industry at large carried the market yesterday, and looks to lead yet again today. Overall breadth remains an issue and the lightness of volume surrounding such a behemoth of a rally. Two new setups for today, one is in TSLA and that tends one [...]
Today's Reading for 2/22/24: 55.84
Trading Notes: A 2% gap higher on the Nasdaq heading into the open vs. only a 0.2% gap higher for the Russell. It is setting up for today's rally to be all about tech, and to the detriment of small caps as a result. AMD was setting up as a [...]
Today's Reading for 2/21/24: 53.76
Trading Notes: Index futures continues to show pre-market weakness heading into the open. Despite a decent bounce into the close yesterday, the rallies off the lows aren't showing as much aggressiveness as they once were. There are some enticing setups emerging in semis right now, for instance, INTC is forming [...]
Today's Reading for 2/20/24: 52.22
Trading Notes: Whether it is a small amount of weakness or a large gap lower, at this stage, it's expected that there is going to be a strong bounce attempt off of the lows of the day, and usually that takes place before the half-way mark of the trading session. [...]
Today's Reading for 2/16/24: 47.06
Trading Notes: PPI number came in extremely hot today, causing index futures to drop in the red, minus Nasdaq which still manages to float just above break even. Heavy buying into AI stocks today, as Wall Street continues to push NVDA on the retail crowd with consistent upgrades and target [...]
