Trading this week, analysis of stock positions (14/08-18/08)
"No one is great enough to never suffer losses. Making mistakes is inevitable, but continuing to make mistakes is a choice." - Mark Minervini
First of all, here is the screenshot of the positions after the market closed on Friday. There were very few trades this week, with 63%+ cash/money market holdings, and temporarily did not see good LONG trading opportunities.
$Carnival (CCL.US)$ To make up for the unexpected incident of oversleeping on Friday night, I quickly chose to liquidate on Monday and complete the unfinished work from last week. I will not consider trading this one in the short term~
$MARA Holdings (MARA.US)$ In fact, on Tuesday, the weekly chart had already fallen below the 10EMA, but I waited until Friday to sell at the end of this week, which followed the original trading plan. The result shows that the original selling strategy is not suitable for meme stocks, and a trade that could have easily achieved 70-80 points was turned into less than 50 points by me.![]()
I left 0.74% of my position for observation. MARA has always been a target that is full of trading opportunities for me~
$Direxion Daily Small Cap Bear 3X Shares ETF (TZA.US)$ It was a short-term trade using the gap up after the continuous decline of IWM (suspected distribution day, in sync with SPX and NDX). I bought it before Thursday's market opening. Since it was not an advantageous buying point in the daily cycle, I sold half of it after making some decent profits by the end of the day and set an unlimited market stop-loss order for the remaining half position at the original buying level. The benefit of this is that even if the order is triggered, I can still retain half of the profits. If it is not triggered, it gives me an opportunity to observe, which is like a gift from the market. Currently, my position accounts for 4.49%~
$ProShares UltraPro Short QQQ ETF (SQQQ.US)$NDX is the focus of my daily observation. The specific details have been explained in previous chapters of market analysis. Next, the trading volume and price behavior of NDX are the first reference indicators for trading. Just now, I bought an unlimited insurance (market stop-loss order to prevent unexpected events) at the stock price corresponding to my 6.6% profit. Currently, my position accounts for 21.79%~
$Carvana (CVNA.US)$ It appears to be somewhat different. After a continuous decline in trading volume, there was a slight increase in trading volume and the price broke through the first steep downtrend line. I am currently using the daily chart's 50EMA as the stop-loss level and will continue to observe the actions next week. Currently, my position accounts for 3.84%~
Supplement: I have been paying attention to $NVIDIA (NVDA.US)$ $Meta Platforms (META.US)$ $Tesla (TSLA.US)$ $Super Micro Computer (SMCI.US)$ 's daily trend. During this correction period, I will slowly start to build positions only when the stock shows upward strength. Until then, I will continue to observe and let impatient investors/traders pave the way~
"The real mistake occurs when you refuse to make adjustments when things change." - Mark Minervini
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魔家 : I drew entry points using the 2B rule you mentioned earlier. Should Nvidia stop loss and get out of the game if it uses the 2B rule?
sTone83 OP 魔家 : If you go long, there is currently no bottom 2B structure in the graphic. If you go short, the exit point is at the highest point on August 2. The NVDA shorting cost performance ratio is not as high as SOXX. The weekly K-chart trading volume has increased to 10EMA. There is a short-term bullish trend, but in this week's financial report, the trading volume will also be very large, which is enough to influence short-term trends. There is a lot of uncertainty and disagreement. Currently, the cost effectiveness of trading is not very high.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
sTone83 OP 魔家 : SOXX's 2B fall below graphics
魔家 sTone83 OP : So where did I misunderstand the 2B rule's new low, break down, buy above? Isn't 7/24 a new low compared to 8/2? Then 8/9 isn't a breakdown, shouldn't 8/15 buy above?
sTone83 OP 魔家 : Friend, you misunderstood, such a short period of time does not constitute the top/bottom of the trend. The uptrend is about 35-70 trading days on the daily chart, and the downtrend is slightly less![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
魔家 sTone83 OP : Ooh! So it is!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Thanks a lot!