QQQ
Starting to live under the 50-day compared to previous rallies. We could be setting up a pivot here in a higher low / higher high method. Or, the QQQ starts to weaken again and come to test the recent lows.
One thing that I have noticed is the strength of individual stocks yesterday and today. Stocks showing relative strength are important to keep note of because when the index does turn, these are generally the leaders of the upcoming cycle.
What I did today
Bought MU on the break out after it pulled back to the 20sma.
Bought VRT once it start to show signs of support with a very tight stop hence the average.
Tried LRCX and exited the trade once it was showing signs of weakness. Small loss / scratch trade.
Shorted the QQQ via SQQQ on a 5min orb. Got stopped out for a small win when we rallied back to vwap.
Cut the last of my IGV shares. Small win.
Prints:
Equity + Holdings:
Some stocks are showing incredible amount of relative strength. The stocks that are the strongest are the ones that are trading on the upper right hand corner of a chart. There’s no reason to be looking to buy a HOOD or PLTR here given where they have gotten sold off to.
hi geo did you buy400 vrt that $96k or was it 40?