What we know? Oil is likely bullish in 2nd Half (24'). BTC leads the small caps. TNX usually works as a head wind (and has took a pause). Rate cuts are very bullish for small caps and financials benefit in this environment?
technically; the 20dma works as a driver. 50dma and 200dma just gives you context. You can add MACD to confirm things.
Im speculating that...
... for a 1.87 credit.
Comments: Targeting the <16 delta strike in the shortest duration that pays around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The ROC %-age isn't tremendously sexy here, so primarily doing this to keep theta on and burning while I work shorter duration, higher IV underlyings (e.g., SMH, XBI,...
SMCI saw a nasty down move today with the market.
Semiconductors led the downside move today.
It seems massive amount of capital rotated out of the market today.
This low float volume stock can unwind in a sharp way if this support is breached.
Remember dip buyers will likely start to accumulate as semis are coming from All time high bull market....
Credit to Mr. Tom Lee for this one. Small caps are at a multi-decade low in value relative to the S&P. The Fed beginning to cut will be the catalyst for a huge move in the Russell over the next 12-18 months
... for a 2.33 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. (This is actually at the 18 delta, but it was either the 190 or the 185 where I wanted to pitch my tent from a delta standpoint).
Starting to slowly deploy third quarter rungs...
... for a 1.82 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. There is no July contract yet, but June is still paying at <16 delta ... .
Russell 2000 index - exit from channel towards long, above average 150, depends on the drop in interest rates in the US, potential increase 11% & more.
Only an idea and not a recommendation for trading!
Very interesting take on GME. You need a sustainable higher highs for an uptrend, or most of these are perfect bull traps. Way to measure is also due to public sentiment, euphoria. Potentially easy money phase.
NYSE:RTX Well Fargo upgraded RTX yesterday and give it a $120 price target. I used this morning’s early pullback to get an early start on this one. It will not be a technical breakout until it moves over 92.81. My plan is to build an oversized position after it breaks out of this flat base. I will be patient but have a stop of no more than 3% loss.
On another...
QQQ (nasdaq etf) has been uptrending for over a year (2023 to 2024).
However, signs of a potential pullback in the long-term charts are showing with the price and rsi oscillator.
In the long-term, a potential pullback may occur in the price, and the price could fall down to $426, $419, $400, $394 support levels.
Long-term resistance levels are: $460, $470,...
I am back in $PLTR. I have an extensive post on this one which I will link below. Suffice to say I am bullish went long and manually closed the position as I did not like yesterday's action. I am back with a 1/2 size position. Lets see how it plays out.
NASDAQ:OKTA jumped over 22% at the open from earnings reported on February 29th. It had a wide range of trading that day and closed just under the open about midway through the candle. It has been digesting that big move on lower volume for sixteen “trading” days (3 weeks). I went long this yesterday on the break of the downtrend line (blue). It pulled back by...
NYSE:GTLS is in the energy space as an equipment manufacturer. One that may not come on your radar. The average price target on this is $197.68. USB just gave it a new “BUY” rating and a price target of $170. At the current price that implies a 16% move. At the average price target the implied move would be over 34%.
Now the technical that I trade. This had...
AMEX:ARKK Mark Minervini made famous the VCP as a set-up. It is also simply a wedging pattern that can break either way. However, where there was a previous uptrend, like in this chart, the direction of the break is usually to the upside. The path of least resistance is a continuation of the previous trend.
ARKK had a move of over 60% from the Oct 30th low to...
AMEX:XBI Formed a flat base from early January to late February before breaking out. You can see on this chart it is either a failed break-out (with more downside to go) or it is retesting that breakout area and will soon resume its upward trend. All TBD.
In addition to coming down to the breakout area it looks like it “may” be getting support at the 50 DMA...
NYSE:PLTR Here is a strong one for your watch list. This is perfectly normal action (so far) for a stock to pull back to its breakout area. It is pulling back on declining volume. All this is textbook action.
I will be looking for the resumption of uptrend before I get involved. That could take a day, a week, or more. Patience will be key. I will update this...
I got into this one on Mar 6th when it re-took the 20 EMA (green) where it also found support at the 50 DMA (red). My plan was to bring up to a full-sized position on a breakout over 41.07. However, on the 13th when it did break above that it promptly pulled back. Fast forward to today once it moved back over Friday’s high (which again found support at the 20 EMA)...
If you look at this chart of Schwab, you can easily see the cup w/ handle formation. It has broken the blue downtrend line and is taking on good volume this morning. I have started a one-half size position here as the risk reward is exceptionally good. My stop will be below the most recent low which also corresponds with the 20 EMA (green). This could easily move...
