Daily Review 6.25
Documenting positions taken, or sold today.
The Round Trip
QQQ gapped up overnight to an all time high breakout. As stocks looked to open at their highs, most of them immediately round trip their entire gain. I still think we are in a bullish environmnent, it is just that we are so choppy up here, making it difficult to get positioned in anything new.
Not the strongest breadth day for us being at ATH.
Current Positions
Today’s Review
Had to get rid of a few positions, will cover them below. Glad to see CRDO PLTR UBER holding up just fine in the account. Will continue to look for good entries in stocks that have made big moves in a relatively short period of time.
TICKER: NBIS 6/25
CATEGORY OF TRADE (INCLUDE CATALYST IF APPLICABLE): Closing Position
CHART (DAILY AND WEEKLY):
EXECUTION:
THOUGHTS ON THE TRADE / LESSONS LEARNED: Round trip the entire gap up. Closed it for a loss. Nothing I can really do but let it play out.
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TICKER: WING 6/25
CATEGORY OF TRADE (INCLUDE CATALYST IF APPLICABLE): Closing Position
CHART (DAILY AND WEEKLY):
EXECUTION:
THOUGHTS ON THE TRADE / LESSONS LEARNED: Flat trade, closing under the 10 so closed it out.
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TICKER: TSLA 6/25
CATEGORY OF TRADE (INCLUDE CATALYST IF APPLICABLE): Closing Trade
CHART (DAILY AND WEEKLY):
EXECUTION:
THOUGHTS ON THE TRADE / LESSONS LEARNED: Round tripped gains at a b/e stop. Did not lose money on it.
TICKER: AVGO 6/25
CATEGORY OF TRADE (INCLUDE CATALYST IF APPLICABLE): ATH breakout (Cup and handle), semi's relatively strong.
CHART (DAILY AND WEEKLY):
EXECUTION:
THOUGHTS ON THE TRADE / LESSONS LEARNED: Been wanting to get myself situated in AVGO, after the morning pullback I wanted till close to the end of the day to enter a position at $264. My thoughts on the trade is I'll be using yesterdays LOD as a stop, as if it it breaches that then the stock may have a bigger pullback. Stop is a 1.8% stop on a $260 stock. Just want to let it trade at this point given how choppy the stock is by nature.
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Overall traded well and did not let a few losses turn into a revenge trading spree. Days like today could be dangerous if a trader is not in the right mindset.
I’ll be releasing a mid-week report later tonight once I do my scans. Some stocks need some digestions, but overall I think we are still in a good environment for existing positinos.