Trader’s
I hope you’ve all had a wonderful weekend! I’m traveling this weekend, so this week’s watchlist will be briefer than usual, but nonetheless, I will still share my thoughts on the current environment!
First off, we had an excellent Inside Access meeting on Thursday, where we dissected the current environment at great length and spent time explaining which strategies and styles are most appropriate and being rewarded in this tape. Go back and listen to that meeting if you missed it… You might walk away with something valuable for your own trading.
Now, as mentioned previously, the bigger-picture trade I was most excited about was a push in several prior leading names and sector ETFs back toward their flattening/declining 50-day SMAs. We got that, be it in individual names, DRAM, or even QQQ. Unfortunately, though, it occurred overnight on earnings. As opposed to failed follow-through intraday and a weak close, offering the chance to head out overnight with cushion and a reduced position. Thursday’s overnight failure and gap-down took the trade and entry opportunity away. Then came Friday’s...


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