Weekend Update and how I went from 1st to 33rd
Lol.. I know right.. wtf just happened? Not betting on MU, that's probably a 'mistake' in playing this game. However some other things didn't work out for me as well. I'd like to share what's worked and didn't to those who are still following.
What failed:
1. My bet on $ProShares Ultra Bloomberg Crude Oil ETF (UCO.US)$ was crushed by the second day of decline on Friday when the Sauds decided that they are giving up on $100 oil and resuming higher production. I've exited all my oil positions for the game. But not for my personal account.
2. I was hoping for volatility to dive this week with $ProShares Short VIX Short-Term Futures ETF (SVXY.US)$. This is where I park my 'idle cash'. Volatility didn't go up but didn't go down either. Didn't lose much here but opportunity cost as this position was quite sizable.
3. I knew that $Micron Technology (MU.US)$ earnings play was a gamble so I didn't play it but on hindsight, I should have bought a little considering that we only have a week in this competition to rack up gains.
..and what worked:
1. I've been lucky riding the Trump gravy train with $Trump Media & Technology (DJT.US)$ The sell-off was far too overextended and when I saw the bounce coming during competition week, I decided to take a punt. This gamble brought me ahead of most.
2. $NVIDIA (NVDA.US)$ Can't go wrong hitching a ride with Daddy Jansen. Fundamentally a sound stock and not yet in bubble territory based on Forward Earnings valuations.
3. I usually hedge with a sector that is overbought and I think this week the home builders and real estate seem to be ahead of themselves. So I bought $Direxion Daily Real Estate Bear 3X Shares ETF (DRV.US)$ and made close to 5%. Not bad for a hedge.
I'm excited to play next week. There aren't many days left so I'm going to have to make some drastic moves to have a chance of cracking top 10. Stay tuned.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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DaytradeSwing : Too much thought
Just trade movers