Trading Notes: New quarter of trading upon us. Often a heavy surge of buying accompanies the first trading day of the month, as new money gets put to work. A lot of headlines over the weekend speaking to the nature of the tech rally having gone too far, and needing a pullback. In the same
Trading Notes: Today is end of quarter, so there could be some wild price action, especially as we get nearer to the close, as investors will attempt to window dress their portfolios. Traction in the market has been difficult of late as price action continues to vacillate back and forth between large and small cap
I closed the rest of NFLX at 610.74 - breaking below the 20-day moving average that had been strong support of late.
New Long Position: EXPE I BOUGHT EXPE at 139.01 My Stop-Loss: 132.48 My Target Price: 154.80 Risk Rating: 3.5
I closed 1/2 of NFLX at 615.03 - hard reversal in mega cap plays today, and it takes NFLX below the ascending triangle.
Trading Notes: We're quickly approaching quarter end, and stocks could see some increase in volatility and volume. I'm open to adding more long exposure here, should the market show that it can bounce back from yesterday's late afternoon of selling. Additional charts that could develop as trade setups are SHOP and NTNX. Watchlist Holdovers: ROKU,
New Long Position: NFLX I BOUGHT NFLX at 627.75 My Stop-loss: 608.75 My target Price: 691.00 Risk Rating: 3.0
Trading Notes: Extremely low volume levels are creating a greater amount of uncertainty in stock prices, as price sloshes all over the place due to a lack of conviction by market participants. Pre-market strength is a positive, but waiting the first 30 minutes of trading to determine whether the bulls have a chance at holding
I closed 1/2 of XBI (1/3 of original) at 92.84 for -1.5%. Trimming risk on this position.
I closed TSCO at 259.60 for a +3% profit. Breaking below the 5-day moving average, and failing to build on Thursday's breakout.