Trading Block

Trading Notes: Thursday was quite the spectacle - CPI report came out and invigorated the bulls to buy the dip and send the major indices soaring in the premarket. But once the market opened, the market faded in dramatic fashion. Initially, I saw myself getting long on META, but ultimately, I found myself getting short QQQ

Trading Notes: CPI report is out, and it came in slightly dovish (3.2% vs 3.3% expected). Price action on across the indices, so far, is slightly positive, as the indices were already rallying into the report. This is one of the reasons why I stayed away from PSQ yesterday as CPI could quickly reverse any of

Trading Notes: Like I mentioned in the previous update, I was open to adding PSQ if the market provided that opportunity. It did provide the opportunity early, the setup was there, and I took it without hesitation. Of course, the outcome was not what I wanted. Now, I could have taken a bigger loss by

Trading Notes: QQQ broke down and out of the range going back to 7/13. I added PSQ on Friday, which is a 1:1 inverse ETF of QQQ. In view this week will be the CPI report on Thursday. Expectations is for a +0.3% increase (to 3.3% from 3.0% the previous month). If that comes in even more

Trading Notes: I removed the PSQ trade setup from yesterday, as it never hit my trigger price, but I am open to adding it again today. Much of that will depend on the behavior of the market over the course of the first 30 minutes. AAPL and AMZN earnings yesterday was a mixed batch, but due to the overwhelming

Trading Notes: That Fitch downgrade on the US Credit Rating really wreaked havoc on equities Wednesday. The key for the bears will be whether it can get some follow-through on that price action to the downside, because last Thursday the sell-off simply resulted in a massive gap higher the following day. Simply put, follow through

Trading Notes: Fitch downgraded US debt rating Tuesday night, and so far, the market has absorbed most of that blow, though it is trading lower as of this update. Rising interest rates on the 10-year yield, is likely to impact the market going forward, if the trend pushes towards last October's highs. AVGO finally gave me a

Trading Notes: Stocks waited six hours and twenty-one minutes for the market to actually do something on Monday, and in the end, it was roughly 20 points in 9 minutes of trading. Now we are on to a new month, with stocks on a 5-month winning streak following the regional banking crisis. Stocks are at

Trading Notes: Friday's price action was incredibly impressive, managing to bounce back from Thursday's hard sell-off, as if nothing ever happened. When compiling the weekly watchlist, one of the things that stood out most to me was just how few quality trade setups there are out there right now. Today I will be watching price action

Trading Notes: Yesterday's sell-off created some of the ugliest candles across the indices so far this year. But so far in the pre-market, futures are bouncing right back. I would still be on high alert for a potential fade in price action. The worst price action was in IWM where there was a massive bearish engulfing candle