[videopress 4Sa6Tv6m]
Highlights
MARKET MOOD:
OVERALL DIRECTION: SSU (sideways on monthly, sideways on weekly and up on daily time frames)
NEW HIGHS vs NEW LOWS: New highs ramped up in a big way last week. What’s most interesting to me is that the number of stocks hitting new highs right now is still higher than what we saw back in August when the indexes were at fresh highs! This is an indication that more stocks are participating and breaking out. We’ll see if that continues to play out but it’s good news for the bulls if it does.
DAILY CHARTS: https://www.tradingview.com/x/GtiCRiRv/?aff_id=15325&offer_id=10
WEEKLY CHARTS: https://www.tradingview.com/x/bfU3b6Pk/?aff_id=15325&offer_id=10
MONTHLY CHARTS: https://www.tradingview.com/x/rgi9JkCW/?aff_id=15325&offer_id=10
PORTFOLIO MANAGEMENT: With the trades I’ve taken doing exceptionally well so far and my stops at breakeven or better, I’m looking to add more positions next week. I’ll be adding up to 3% capital risk if the following trades breakout: CRM (6.93), QDEL (8.78), and TSLA (7.52). The numbers next to the tickers are the Trade Gauntlet scores. Each are high and why I’m high on them. 😉
TRADE IDEAS:
In addition to the swing trades I’m looking to add (CRM, TSLA, and QDEL), there are a LOT of potential day trade ideas this week. 22 all together! Lots of momentum!
Here’s the link to this week’s notes: https://docs.google.com/spreadsheets/d/13LYNJanl5Qm5CO1v0HYbXTHvwKodo_-rN4PVURhWOzY/edit?usp=sharing
A couple of notes on the sheet:
- We’ve added ‘TRADE GAUNTLET NOTES’. This will show you all of the criteria the idea met! Roll over the cell and to see this notes box.
- The ‘notes and game plans’ cell was getting too long so I tightened the cell. To see all the info, double click the cell.
RESOURCES
- Mara Trader ‘Weekend Assessment’ Sheet
- Trade Emotionator (free position size calculator)
- TrendSpider (charts)
- EdgeWonk (trading journal)
- Options Geek (options EDU + new options chain)
- TradingView (charts)
- Favorite Trading Books
- Investors.com
- Market Smith