Trading Block

Trading Notes: CPI was pretty much right in line with expectations, coming in slightly hot on the core number and slightly cool on the headline number. As a result, without a shock event, the market uses the CPI as a reason to rally. Yesterday's volume was light all day long until the final 15 minutes

Trading Notes: Strong rotation on Tuesday into small caps and in the pre-market I'm seeing more of the same. The action in large caps over the past few days has been sluggish, and I have avoided making new trades in that area, until some of the overbought readings can come down some. Also, it is

Trading Notes: I added one new trade to my portfolio yesterday, as I am looking for more of a rotation towards small caps in the coming days. On Friday, $IWM managed to breakout in a significant way, taking out heavy resistance and the 200-day moving average that previously rejected price. When it pulled back to

Trading Notes: The two areas for potential long setups that I am watching today is $IWM which broke out 3-month sideways channel, followed by semiconductors, which took a breather late last week but may be in the process of forming a bull flag pattern on the daily $SMH. Important though that I don't force the positions today

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 market decides to continue the

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 star candle pattern that suggests

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 once again that is what

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 earnings. The Dow and Russell,

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 to extraordinary heights in 2021.

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, it proved to be the