As per the chat -
Recent ish IPO
Closed at an all time high of 32.95 in march
Broke this high up to 38.65
Retested the 32.95 level and looks to be moving higher off this level.
Tight stop in place as always!!
Just trying to fit in a tactical, shorter term short in NQ futures.
Very tight stop - happy to have 2-3 goes at trying a position around this spot.
Links in to a wider downward trend that I have posted on several times.
As per the title - this is just a note to myself, maybe to try and see the forest for the trees
Just picked out a few charts which maybe give some clues as to the wider state of the markets;
S&P stocks above the 50 day - have hit that 85-90 level, on a weekly basis they only seem to hold this level for 1-2 weeks before a sharp move down to 75 if not lower
Retraced to .618 fib
If it moves below this im out
Russia continually reducing Nat Gas Supplies should prop up Coal in the short term / Coal Consumption is increasing globally
Greenlight Capital increasing exposure as an added bonus
Pilot Position only given the economic data out this week
Stock in a strong uptrend
In a strong sector
Breaking out of Consolidation zone
Wont make you rich but good RR will keep the account going in the right direction!
Bought into Dycom industries this morning on strength.
Note the RR - the stop is very very tight on this - because given current market conditions - there is every chance this is another bear market rally that will last a few days and then we plunge again!
The logic is simple - the stock was in an uptrend, broke out, retraced , is now going up again having...
As per my earlier idea, SARK has provided a great chart set up with the bullish falling wedge, high RR, and fits with a wider view on fundamentals (rising rates etc.)
On the earlier trade (see linked ideas) I have made this risk free by moving SL to BE.
In light of that, I have taken a 2nd position allowing me to add exposure to this idea, following on from a...
I did buy into CCEG on the breakout yesterday - frustratingly I couldn't post this as I was at an Expo.
Its breaking out from an area of very tight consolidation (and has previously had a very sharp move up!)
Tight stop + High RR
I went long UTHR on Tuesday, as per the position marked.
Its consolidating nicely after breaking out from a previous high and looked really good.
Unfortunately I messed the whole thing up!!!
I got a pretty nasty entry (got a little too trigger happy on the breakout).
My strategy as always but especially so in this market is too keep losses small (typically 5 -...
Before I say anything, I would point readers to my earlier post, which was looking at NQ1! / ARK / Stocks above 50 day and 10yr) This provides a better and bigger picture.
Post Jackson hole, the market has been selling off, my earlier idea was posted before this. In addition, SARK gave a clue to this, with its breakout from Bullish Falling Wedge
STNG - Long
Scorpio Tankers is one of the top Energy Transportation plays
Given the Russia Ukraine situation - rates could well remain elevated
Paying off debt of $500m + $250m share buyback (relative to a $2bn market cap this is significant!)
Management has invested in heavily ships in prior years - giving it a very young fleet (6.5 yrs avg) - as a result...
ASC has been the gift that keeps giving for me.
It has strong Growth characteristics that the market is seeming to reward once again. Alongside this the company is an energy transportation play which is a sector I am focused on given the European energy market
The 20EMA acts as a Support, with the company riding this up and rarely breaching it - yesterday you...