This week's trading, analysis of individual stock holdings (14/08-18/08)
“No one is good enough to never lose. Making mistakes is inevitable, but continuing to make mistakes is a choice.” -Marc Minervini
First, here's a screenshot of positions held after the close of trading this Friday. There were very few trades this week, holding 63% + in cash, and I haven't seen any good trading opportunities for LONG yet.
$Carnival(CCL.US$ To make up for the accident of sleeping on Friday night, I quickly chose to clear my inventory this Monday to complete last week's unfinished work. I won't consider doing this in the short term~
$Marathon Digital(MARA.US$ In fact, the weekly chart had already dropped below 10 EMA on Tuesday, and I waited until the end of the week on Friday to sell. Instead, I implemented the original trading plan. The results showed that the original selling strategy did not apply to MEME stocks. A trade that could have easily reached 70-80 points was reduced by me to less than 50 points![]()
, 0.74% of the position was left for observation. MARA has always been a target full of trading opportunities for me~
$Direxion Daily Small Cap Bear 3X Shares ETF(TZA.US$ It is a short-term transaction that uses IWM to jump high after a continuous decline (suspected distribution day, synchronized with SPX, NDX). It was bought before the market on Thursday. Since it is not an advantageous buying point in terms of the daily cycle, half was sold after closing the day, and an indefinite stop-loss order was set for the remaining half of the positions. The price was the original buying position. The benefit of this is that even if the order is given away, half of the profit is kept. If it is not sold out, then give me a chance to observe the market then treat it as if it were given away Gift 🎁, currently accounts for 4.49% ~
$ProShares UltraPro Short QQQ ETF(SQQQ.US$NDX is the focus of my daily observation. The details were explained in detail in the previous market analysis section. Next, NDX's trading volume and price behavior are the first reference indicators for transactions. I just bought indefinite insurance (market price stop-loss order to prevent unexpected events) at the stock price corresponding to 6.6% of my profit. Currently, my holdings account for 21.79% ~
$Carvana(CVNA.US$ It seems a bit unusual. After continuous trading volume withered away, there was a slight increase in trading volume and the price broke through the first steep downtrend line. Currently, the daily chart has been changed to 50 EMA losses. Continue to observe next week's actions. Currently, positions account for 3.84% ~
Added: I'm always watching $NVIDIA(NVDA.US$ $Meta Platforms(META.US$ $Tesla(TSLA.US$ $Super Micro Computer(SMCI.US$ The daily trend will only slowly begin to open positions during this pullback, when stocks show upward strength ~ Until then, we will continue to wait and see, let impatient investors/traders help explore the path~
“The real mistake is when you refuse to make adjustments after things have changed.” -Marc Minervini
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TeslaMYL : 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?
sTone83OP TeslaMYL: 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.
sTone83OP TeslaMYL: SOXX's 2B fall below graphics
TeslaMYL sTone83OP: 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?
sTone83OP TeslaMYL: 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
TeslaMYL sTone83OP: Ooh! So it is!
Thanks a lot!