Market review + holding positions (14/10-18/10 2024)
Last week's review 👉🏻Market review + holdings (07/10-11/10 2024)
Market behavior this week:
$NASDAQ 100 Index (.NDX.US)$ Accumulate on Monday, distribute on Tuesday and Thursday;
$S&P 500 Index (.SPX.US)$ Distribution on Tuesday and Thursday;
$Russell 2000 Index (.RUT.US)$ Accumulate on Wednesday, distribute on Tuesday and Friday.
RUT is above NDX and SPX.
This week, NDX and SPX prices have been adjusting within a small range, while RUT chose to continue rising after returning to the neckline last week. All indexes are currently neatly arranged with the same direction; the nuclear energy sector had a collective outbreak this week, followed by the miners who also performed well, and there are many names in the biotechnology sector eager to try their luck... This is clearly a favorable environment for traders.
Weekly charts:
NDX and SPX are still neutral within the channel, with SPX slightly close to the upper edge of the channel. Slowing down of SPX in the future will be more favorable for the overall market; RUT broke out of 4 weeks of consolidation and may attempt a new 52-week high in the future.
Breadth:
Continuing to stay green, and the advantage is gradually expanding.
Weekly notes:
In this week's list of internal transactions, the RS of CART and EOLS has slightly downgraded.
Market sentiment:
AAII call sentiment has cooled slightly, and there was no counter-market sentiment behavior this Thursday.
The fear index is approaching extreme greed, with the options sector being extremely greedy.
Current positions:
Among them: SMR, NN, PBI, MOD, UPST, APLD, BITU were mentioned yesterday.
$NVIDIA (NVDA.US)$ On Tuesday, there was a sell-off due to negative financial reports from ASML, followed by a recovery over the next three days. Currently, the semiconductor industry has not yet emerged from the trough, but NVDA remains one of the strongest leaders in the industry (NVDA, TSM, AVGO); stop-loss remains unchanged to deal with potential short-term fluctuations, maintaining a disciplined approach.
$Maplebear (CART.US)$ In the short term, there was a second flag consolidation and successfully tested the 20-day moving average on Wednesday and Thursday without adding further plans. Stop-loss remains unchanged, maintaining a disciplined approach.
$MARA Holdings (MARA.US)$ On Friday, the price returned to the previous support level. As it currently lags behind other leading miners, in the event of a power-up period, the time should be much later than other leading miners. MSTR only briefly paused at the 10-day moving average before continuing the upward trend (strong performance), and it is expected that the position will be cleared for MARA by Christmas this year.
$Core Scientific (CORZ.US)$ Continued consolidation for 5 days this week, no specific thoughts here, keeping the stop-loss unchanged, maintaining disciplined riding.
$Evolus (EOLS.US)$ Still running within the consolidation range, currently in a slight loss state, keeping the stop-loss unchanged, temporarily maintaining disciplined riding.
$SoundHound AI (SOUN.US)$ After VCP breakout did not go far, entered flag consolidation pattern again, stop-loss adjusted to breakeven, maintaining disciplined riding.
$Eos Energy (EOSE.US)$ Named after profit protection, ride for free according to the rules.
$ProShares UltraPro QQQ ETF (TQQQ.US)$ $ProShares UltraPro S&P500 ETF (UPRO.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ Market dividend trading, SPX has now opened up the distance to the second FTD (09/19/2024), so let them run freely, no need to pay excessive attention.
$Super Micro Computer (SMCI.US)$ Tumors in positions, difficult to recover in the short term, emphasizing the importance of using stop-loss for warnings.
$GE Vernova (GEV.US)$ Named after profit protection, hard stop raised slightly, maintaining rules for continued free riding.
Current cash proportion: -5.72%
Currently hold positions in 19 names:
2 are historical bad debt trades left over: MARA, SMCI;
4 are dividend trades around the market & BTC: TQQQ, UPRO, SOXL, BITU;
13 names for internal system trades, among which:
4 have been profit-protected and are in free riding mode: SMR (-1/3), EOSE (-1/3), UPST (-1/3), GEV (-1/2);
The remaining 9 names still need to prove themselves and strive for the opportunity to continue to hold in my position: NVDA, CART, CORZ, NN, PBI, EOLS, SOUN, MOD, APLD.
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"Great traders do not control their emotions because they have no fear from the beginning, so there is no need to deal with it."
They do not believe in their ability to predict market information.
They understand without any doubt that individual outcomes are random.
Because they never attempted to predict or speculate on the unknowable from the beginning, they are not wrong, and they are not playing the game of forecasting and guessing the future. As a result, they are not affected by trading outcomes and do not fear the results.
Since there is no fear from the beginning, there is no need to address it from the start.
They do not believe in their ability to predict market information.
They understand without any doubt that individual outcomes are random.
Because they never attempted to predict or speculate on the unknowable from the beginning, they are not wrong, and they are not playing the game of forecasting and guessing the future. As a result, they are not affected by trading outcomes and do not fear the results.
Since there is no fear from the beginning, there is no need to address it from the start.
- Mark Douglas, "Trading in the Zone"
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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