QQQ
Gapped down overnight and got supported at the 10ma. Fed day today so not much to do.
All moving averages are in sync for an uptrend. The fed cut rates by 25bps today, which followed a lot of buying which caused an expansion in breadth.
My current risk given the market environment: Full size
What I did today
Got stopped out on a position and took profits on 2.
STX took off half size into strength. Have roughly 10% of my account in which I’m willing to trail on a moving average.
WDC took half size into strength. Have 10% left and will be trailing with a moving average.
BE bummed this came all the way back to my b/e point which is where I cut it. Was looking for a bigger picture trade. Most times it’s best to take gains into strength, even if it’s 1/4 or 1/3 just to lock some in. This point I’m not looking to re-enter. I’m looking for charts that are more on the front side of their chart rather than in bases.
Equity + Holdings:
Damn, you had such a good avg on BE as well. Learning so much from you. And your market awareness is awesome