Market Review+Core Position Analysis (22/04-26/04 2024)
Last week in review 👉🏻Market Review+Core Position Analysis (15/04-19/04 1024)
“To win in an environment where everyone has the same goals, you have to do what most investors are either unwilling or unconsciously unable to do.” -Mark Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Distributed on Wednesday and raised on Thursday;
$S&P 500 Index(.SPX.US$ Divided by week, attracted funds on Thursday;
$Dow Jones Industrial Average(.DJI.US$ Wednesday was divided.
NDX > SPX > DJI
SPX failed to trigger the “Follow-up Day (FTD)” on Friday. The entire market is close to the tight trading zone above. I like to imagine the period of market adjustment as the period of refueling the car. The volume is the gasoline needed. Currently, a little fuel has been added, but it is not enough to complete the next wave of trend driving. If you drive forcibly, the probability of an accident along the way is very high, and it will continue to wait patiently for it to refuel and be fully prepared.
NDX and SPX weekly charts:
The intensive financial reporting week supported this week's trading volume. Next week's earnings report will also be intense, and the trading volume will not be low. Continue to watch the cards for free to try to read more information from the cards given by the market to help establish clear signals of action in advance.
In terms of market sentiment:
The Fear & Greed Index had a slight rebound, which initially digested some panic;
The AAII bull-watching ratio has reached a recent low, and the neutral percentage has once again reached a recent high, and we continue to keep watching.
Core holdings:
$Tesla(TSLA.US$ An attempt was made to short sell this week.
It was originally considered that when the price fell below the area between the two white lines after the earnings report, the upper chips would give some downward support. In reality, the buyer power was very strong in these two days. Coupled with the excessive short selling ratio, they broke through the closing line the next day, closed the position with a loss close to 8 US dollars per share, and used about 5% of the position.
This deal may have to wait for more favorable signals, which once again reinforces the importance of patience 🚴🏻
$Invesco QQQ Trust(QQQ.US$Currently, I continue to hold short selling positions and missed the first closing point. Fortunately, QQQ itself has no wear and tear other than a little bit of short selling interest. Wait for the right time to close the position within the next two weeks, and the original stop loss will not change.
Current cash ratio: 86.44%
Now that the holidays are over, there are still no opportunities to set up opportunities in the market or individual stocks that I cannot refuse. Be patient and start a careful map reading mode. I will confirm clear conditions in advance for every future purchase, and there is still a lot of work to be done 🚴🏻
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