5/25
Market looking up today. Nice reclaim of MAs, nothing notable about volume tho so may be a concern.
Gapping up to start the day, recovered selloff into close we saw. Reasons to hold my swing ive seen that plenty of times.
Decent amount of names on the list today. Things a bit aways from trigger breakout levels so well have to see if we get some good consolidation just under later in the day. Seems like a day ill be at the desk all day waiting to get some trades on.
No stress. Im separating names into categories of swing, or day trade. The days trades will have the most focus on as those are the ones I can make the most money in. Swings just simple trigger on level breaks, buy the call, let it go.
Some get a bit expensive so wont let it run to 0, but a good portion of premium at risk. If it costs 4$, im not even risking half, still just whatever prem would be on a lod break + space.
Market trending up at the moment, names setting up with good breakouts. Right now looks like a good time for breakout trades, but as always, gotta remember how the market has been performing past few months and keep in mind majority have been failing.
I will be buying puts as well if these breakout trades break, then fail, then drop LOD will be my trigger for the puts.
As for myself and my trading, just taking it slow and easy. No reason to force anything, no reason to be upset at market for doing what the market does. Must trade the market we are given, not the one we want.
Not focusing on a ton of names. Just scanning through a couple of my lists on TV, not the whole big list. Trying to keep focus small, on the best strongest names of past leaders/current leaders. No reason to take breakouts on names that havent been the strongest in a market that isnt acting strong.
Busy start to the day
YELP
CNK
VMW
all longs, VMW lagging, failing so far, others doing well, good vol and rvol.
ALB joining party.
All these names aside from CNK are just swings so long time to wait before add.
FIS swing from yesterday is failing. Was the weakest one from yesterday as well, may have to cut if cant reclaim LOD on failed breakdown.
FIS total collapse, Needed to bail earlier, mistake. Had stop at 150.90 fail, and it did exactly that and broke under vwap and lost a point straight from it. Needed to be out faster.
VMW bailed. Couldnt reclaim anything.
CNK YELP ALB great start to today. Strong move higher and holding it above bo levels.
Indices are not strong. Also collapsing.
Market searching for bottom, names pulling in. Nothing super concerning yet but need to be cautious. Also good add scenarios
ALB strong big vol on move up, not even 1/10th the vol and this thing lost LOD already.
ALB SPR WYNN YELP all breaking LOD, market internals bottoming and indices look like it too. Have to deal.
Kinda tough to add here. Market not strong yet just showing signs of bottom, things in good location, but well under vwap, lots of failures. Id be adding to losers, but still show signs of being winners, will have to wait for more PA.
Names pulling up, market internals are not popping higher, still just bottom action, might be warning signs here.
WYNN added, market turned up with good internals.
IMMIDIATELY Stuffed lower.
Getting very choppy. Looks like we can go either way.
CNK SPR strong recovery, hold, will add on good pb.
YELP tough spot, stuck inbetween HTF and vwap. May be add chance but need conditions clear strong.
ALB hovering around LOD. Waiting, and getting out. Just cant reclaim.
WYNN cant find it yet. Building above old BO level. Under vwap. Market cannot catch a bid yet, doing the same thing.
Market breakdown. WYNN follow, waiting to see if fake out.
WYNN so far is failed breakdown, cant find buying yet, indices still no pull up.
YELP fine, still wedge in between, waiting.
CNK, seeing weakness, still fine overall.
SPR, seeing weakness, still fine. Gotta hold it.
WYNN couldnt do it, out on LOD
YELP also out on LOD.
CNK added. Market came down lower CNK followed right into BO levels. Held well with big volume, turned up adding off it.
Market cannot catch a bid. Exact opposite of yesterday. CNK SPR just failing on me, following market. Stuck for pb. Both breaking LOD into other HTF levels so still reasons to hold.
Going into lunch, market still selling off, internals turning up again, close to HOD on TICK. Might be overdone, SPY hitting good S zone. Regardless, CNK SPR doing ok. Worth holding, will judge into close.
Nothing else really setting up for me. Maybe something in GME later.
Big miss on GME.
Thats why you always gotta be there. You just never know.
SPR and CNK less than exciting. SPR sold off more, not enough for me to bail though. CNK built under vwap all day, but above prev hi so hold there too.
ALB and VMW were lesser odds trades. I should have no paid attention to either.
WYNN and FIS just too bad but not unusual in this market.
Just no help from indecies, can consider it a pause day so only wanting to hold the strongest names that hold up well. CNK and SPR had big buys on tape all day.
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