QQQ
Gapped up and got bought up in the morning session. It is currently testing the 50ma.
The 10 is over the 20, but can change given the move down.
10 is sloping down, 20 and 50ma are flat.
This is an environment where being in the strongest groups is the only way to make progress. If there were no strong groups or themes, then it would be a no trade environment.
My current risk given the market environment: No trading, unless a hot theme like space/datacenter infra/drones or defence.
What I did today
Took partial profit, made some new trades.
MU was my biggest position in my portfolio and for good reason. It is the leading megacap stock that is in the highest demanding theme: Memory. I was able to get a price that was 1.2% away from my initial stop on Jan 16 which allowed me to get in 60% position. In these situations I’m a little quick to derisk which I did today, so I sold half of my shares and keeping the rest and will be using a moving average to trail the rest. Ideally I can use the 20 if it gets over my average.
SIDU tried this one as it was crossing over red to green. Quickly sold it for a small loss when it pulled back as I wanted it to work right away. Space Theme.
HUT I am currently bullish datacenter infrastructure stocks like HUT, APLD, RIOT, GLXY as they are all showing strength working up the right side of their bases. My first buy was shortly after the open, and quickly sold it for a small loss as it was pulling back sharply. I let it settle and bought it again as it crossed over vwap and yesterdays high.
Prints:
Equity + Holdings:
Stocks that are moving as a part of group are strong… Theme. Theme. Theme.