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Trading Block: June 2, 2023

2023-06-02T09:13:16-04:00June 2, 2023|

Trading Notes: Stocks remain trading higher following the extremely hot employment number that came in at 339k vs 190k expected. That will likely fuel the flames of another potential rate hike for later this month. So far, the Nasdaq has been the only index to see any hit following the [...]

Trading Block: June 1, 2023

2023-06-01T00:59:44-04:00June 1, 2023|

Trading Notes: Exhaustion looked like it was setting in on Wednesday, on heavier than usual volume. Semiconductors, auto manufacturers, and energy companies took the brunt of the selling.  The market at this point is extremely overextended, particularly when it comes to big tech, so caution is warranted, however, if the [...]

Trading Block: May 31, 2023

2023-05-31T09:15:17-04:00May 31, 2023|

Trading Notes: It seemed to me that yesterday showed a market that was exhausted from the most recent move higher, focused predominately on semiconductors and the big tech behemoths. $NVDA has been completely parabolic, and yesterday gapped higher, but failed to hold the intraday gains, and instead formed a shooting [...]

Trading Block: May 30, 2023

2023-05-30T09:19:21-04:00May 30, 2023|

Trading Notes: There appears to be a debt ceiling agreement between the White House and Congress and that has the market popping yet again. I wouldn't confuse the market rally of late as being a broad-based rally, but more of a specific sector/industry rally - namely technology and semiconductors. And [...]

Trading Block: May 26, 2023

2023-05-26T08:46:25-04:00May 26, 2023|

Trading Notes: Yesterday was the rally that really wasn't. A lot of traders were frustrated that the Nasdaq was up as much as it was (+2.4%), but over half the stocks in the Nasdaq 100 did not rally. That's because it was all based on one stock - $NVDA and its [...]

Trading Block: May 25, 2023

2023-05-31T09:13:33-04:00May 25, 2023|

Trading Notes: Today is going to be all about $NVDA and Semiconductors today. With a ridiculous earnings reaction that added $200B to its market cap, and almost a $90 pop to its share price, the stock is acting in ways that hasn't been seen since Wall Street Bets were rallying stocks [...]

Trading Block: May 24, 2023

2023-05-24T01:02:37-04:00May 24, 2023|

Trading Notes: I jumped out of $VLO Tuesday, once it became obvious to me that the market was starting to roll over. But it wasn't just the indices, but the energy sector as well that started showing weakness. As a result, I chose to lock in my small profit. Ultimately, [...]

Trading Block: May 23, 2023

2023-05-23T01:51:31-04:00May 23, 2023|

Trading Notes: Plenty of Fed Speak and debt ceiling talks but so far it has yet to rattle the market. I picked up a long position in $VLO. There isn't anything at this point in tech that is providing a decent reward/risk ratio for getting long on. I liked $SHOP [...]

Trading Block: May 22, 2023

2023-05-22T09:19:42-04:00May 22, 2023|

Trading Strategy: Trading Notes: The debt ceiling talks continues to be at the forefront with the market and is in the mode of only digesting good news at the moment. Meaning, it is ignoring the risks of a debt default, but loves to rally on anything that is the least [...]

Trading Block: May 19, 2023

2023-05-19T09:23:17-04:00May 19, 2023|

Trading Strategy: Trading Notes: Yesterday resulted in one of the most frustrating moments for me as a trader. I cannot recall a similar time where so many good trade setups with incredible reward/risk ratios tapped the risk side of the trade, in a near automated fashion. These are the moments [...]

Trading Block: May 18, 2023

2023-05-18T09:20:13-04:00May 18, 2023|

Trading Strategy: Trading Notes: For the first time since early April, I am coming into the trading session 100% cash. It is an interesting scenario here, where there's extreme overbought conditions within big tech, and big tech, as it has become extremely obvious, plays the biggest role in the market's [...]

Trading Block: May 17, 2023

2023-05-17T09:14:34-04:00May 17, 2023|

Trading Strategy: Trading Notes: Yesterday was one of the stranger trading sessions in recent memory. The market internals were bearish to such a degree, you would assume that just looking at those numbers the market was off -1.5-2%. While the Russell managed to reflect that weakness, $SPY was barely down, [...]

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