Trading the Charts for Friday, December 1st
In order to read this entire newsletter you’ll need to become a paid subscriber by clicking the button below. Paid subscribers get full access to my trading portfolio (up +82.6% YTD), watchlists with charts, daily activity (buys & sells plus entry prices & stop losses, performance, etc) and my daily webcasts.
I also run a Stocktwits room where I post throughout the day about my investment portfolio (up +115.8% YTD) with full access to my holdings, performance, daily activity, market commentary, quarterly earnings analysis, daily webcasts and more.
Here are my deep dive newsletters…
Commentary…
This market is getting choppy again, lots of failed breakouts and reversals so I’m getting chewed up a a little bit.
Yields are up slightly this morning, ahead of Powell speaking this morning and then again this afternoon.
I’m going to be cautious at the open because I don’t trust these markets on a Friday at the beginning of a new month when Powell could still sound very hawkish which might spark a selloff in stocks.
Lots of great setups this morning but price action is always a wildcard. Obviously I’m still keeping stop losses tight and moving up those stops above entry price when i can to prevent any green to red positions.
I wouldn’t mind a 3-4% pullback in the SPY and QQQ which might create some better opportunities in the leaders. Right now we are seeing some of the best growth stocks pulling back to their 5-10d moving averages, I typically like starting positions at 5d with SL below 6d or starting at the 8/9d with SL below the 10d. Sometimes I’ll start positions on bounces off the 21/23d but then you have to push back through more resistance so those typically turn into shorter trades.
As always… my watchlists, daily charts and current trading portfolio are below the paywall down below… [subscribe here] to become a paid subscriber and get full access.
$TNX (10Y Treasury)
$VIX
$CL1! (Oil)
$SPX (S&P 500)
SPY (S&P 500, market cap weighted)
RSP (S&P 500, equal cap weighted)
QQQ (Nasdaq 100, market cap weighted)
QQQE (Nasdaq 100, equal cap weighted)
IWM (Russell 2000, small/mid caps)
IWO (Russell 2000 Growth, small/mid caps)
ARKK (Ark Innovation ETF)
Deepvue screen #1: ABNB AEM AER AFRM AMD AMKR ANET APG APH APLE APO ARCC ARMK ASAN ATI AVGO AXP BAC BK BN BRBR BRO BRZE BUR BXMT BXSL C CADE CCJ CCL CDAY CDNS CLS CM CNM CNQ COF COLB COUR CQP CRM CRWD CSX CUK CWAN CXM CYBR DASH DDOG DKNG DT DUOL DV DXCM EC ELF ENLC ENTG EPR EQH ESMT ESTC ET ETR EURN EWBC EXPE FAST FIVN FMX FNB FOUR FRSH FSK GEN GNRC GT GTLB HALO HBAN HLT HOMB HST HUBS ICLR IMGN INSM IOT ITCI ITUB JBHT JPM JXN KBH KIM KMI LBRT LEN LI LNG LNW LULU LYFT LYV MA MAR MCHP MDB MELI MMYT MNDY MPC MPLX MQ MRVL MTB MUFG NBIX NET NFE NOW NRG NTNX NTRA NTRS NU NVT NXPI OBDC OKE OLK ONB ONON ORCL OTEX OWL OZK PAA PAGP PAGS PANW PATH PBA PBR.A PCAR PDD PHM PK PLNT PLTR PNC PPC PSX PWR RBLX RCL RITM RMBS RSG S SBS SHOP SKX SMAR SMCI SMFG SNOW SNV SO SPGI SPLK SPR SRC STAG STLD STM STNE STWD SUI SUZ SYM TD TEAM TOL TRGP TS TSLA TSM TTE TTWO TWLO TXRH UBER UGP UMBF UMC URI USB USFD VERX VLY VMC VRNS VRRM WAL WBS WDAY WELL WLK WRB WWD XP XPEV YMM YPF ZS ZWS
Criteria: price above $5, market cap above $3 billion, above 50d sma, above 200d sma, average volume above 500k, YoY sales growth above 15%
Finviz screen #1:
Criteria: price above $5, market cap above $1B, above 50d sma, above 200d sma, average volume above 400k, QoQ sales growth above 15%
Below the paywall are my watchlist, daily charts and current trading portfolio including all positions (open & closed), entry prices, stop losses, YTD performance and links to my daily webcasts.