Market review + Holdings (11/11-15/11 2024)
Last week's review 👉🏻Market review + Position holdings (04/11-08/11 2024)
Market behavior this week:
$NASDAQ 100 Index (.NDX.US)$ And $S&P 500 Index (.SPX.US)$ Distribution on Thursday and Friday;
$Russell 2000 Index (.RUT.US)$ The dividend will be distributed on Wednesday.
rut>spx>ndx.
Except for the rise of RUT on Monday, the market has been in a downtrend for the rest of the week, reaching/nearing a stage peak on Friday; the three indices are currently trying to fill the previous gap, with NDX close to completion, while SPX and RUT still have a lot of gap space to fill. If this gap is not filled in the future, it will be a manifestation of strength; BTC continues to maintain its strength, biotechnology suddenly slaughtered, and semiconductors are on the verge of collapse.
Weekly Charts:
Three indexes are currently testing the consolidation area that broke through last week. The weekly chart still maintains an upward trend (as does the daily chart).
Breadth:
Still in the green, the back-and-forth battle has continued for nearly three weeks. Based on the readings from the past two months, the breadth's cyclical low points align perfectly with the market index's low points, mostly lasting around 3 days. Counting from November 15th, the 3 days fall on the 15th, 18th and 19th, coinciding with NVDA's earnings report on the 20th. It will be interesting to see how the market reacts to the results, which will have a significant impact on the medium-term and short-term trends.
Weekly Notes:
In the system's trades, SOUN's RS grade has slightly decreased.
Market Sentiment:
As expected, the AAII call sentiment continues to expand, and the market's counter-sentiment behavior on Thursday and Friday proceeded as scheduled, serving as a small punishment to those who excessively chased after FOMO post-election clarity.
The fear index has returned to neutral, with the SPX price branch returning to neutral and both breadth branches dropping to extreme fear.
Current positions held:
Among them, GME and UPST were mentioned yesterday.
$ProShares Ultra Bitcoin ETF (BITU.US)$ BTC's dividend trading has used the most basic price action trading; the performance this week remains strong, currently in a consolidation phase, raising the stop-loss in trend, maintaining a disciplined approach.
$NVIDIA (NVDA.US)$ Profit protection has been done, will wait to see how the market feedback is after the financial report, currently holding 2/3 of the position and continuing to maintain a disciplined risk-free ride.
$NuScale Power (SMR.US)$ Profit protection has been done, holding onto 1/2 of the position and continuing to maintain a disciplined risk-free ride.
$Tesla (TSLA.US)$ Profit protection has been done, the current behavior remains healthy, need to keep an eye on MA10; the upward trend with two large gaps and huge trading volume at the beginning, something that Stan Weinstein would definitely appreciate, currently holding 2/3 of the position and continuing to maintain a disciplined risk-free ride.
$MicroStrategy (MSTR.US)$ Still the leader of the miners so far, have done profit protection, keeping 2/3 of the position to continue riding for free.
$ProShares UltraPro QQQ ETF (TQQQ.US)$ $ProShares UltraPro S&P500 ETF (UPRO.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ In the SPX market, following recent dividend trades, TQQQ and UPRO currently do not need attention. An exit option has been added to SOXL, and it is necessary to closely monitor the feedback on semiconductors in the near future.
$TeraWulf (WULF.US)$ Starting from Thursday to Friday, testing the 20-day moving average (20MA) and previous gap ups, profit protection has been implemented, maintaining the rule to continue riding for free.
$MARA Holdings (MARA.US)$ Recently, through personal efforts, moved out of the first phase and entered the early stage of the second phase, while also getting rid of the title of holding toxic positions. The current situation can be turned positive for internal trading. Prices are currently testing the gap ups, with stop-loss set below, starting to maintain the riding rule.
$SoundHound AI (SOUN.US)$ This week, the relative strength (RS) has slightly downgraded, facing selling after the financial report. Currently, the price is stable near the 10-day moving average (10MA), profit protection has been done, stop loss remains unchanged, maintaining the rule to continue riding for free.
$Super Micro Computer (SMCI.US)$ The current toxic positions are a classic example of what not to do, emphasizing that the stop-loss price is non-negotiable.
Currently cash proportion: 41.26%
Currently holding 14 names:
One of them is the hold positions of the previous legacy issue: SMCI;
Four are market / BTC honglietf trades: TQQQ, UPRO, SOXL (with the option to exit short term), BITU;
Names of 9 intrasystem trades, with 8 profit protection completed: NVDA (-1/3), SMR (-1/2), TSLA (-1/3), MSTR (-1/3), WULF (-1/3), GME (-1/3), UPST (-1/2), SOUN (-1/2);
The remaining MARA has just been transferred in and needs to prove itself.
"When I enter a trade, my default assumption is that I am wrong. This attitude makes me more sensitive to risk management."
- Peter Brandt
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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