I closed 1/2 of ADBE (1/3 of original) at 554.78 for a 0.5% profit.
Trading Notes: For a second straight day, you're seeing a rotation from the mega cap plays to small caps and the run in the latter looks set for a strong open once again today. GOOGL selling off over 4% on Monday is also adding additional selling pressures to the tech [...]
Today's Reading for 2/26/24: 62.23 Current Reading: Tilting Bullish Additional Notes: Signs last week that the oscillator wanted to break out of its range, finally materialized today. With the extent of the move in large caps, I still view this indicator as a significant divergence. Interpreting the Chart: 0-10 is [...]
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: 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 [...]
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 [...]
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 [...]
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 [...]