First, I apologize for the background noise in the first video. The second one is fine. Today’s only daytrade is SQ, 37.64-39.54, and I kept 1/2 the position. No surprise, but yes it was a spring trade setup, and a nice one with 123 push down. It’s all discussed in the videos.
The stock market is in a huge secular bull market as I’ve believed for years. It is not remotely a bubble. I’m basically bullish on “everything”, except the global government bond markets. The video about momentum and CVO is here and why are people constantly trading the previous trend. In the premarket today we discussed MARA and the gap up:
“Recent big winners MARA, PZRX, DPW, SSC are surging, but I believe they are secondary “echo” bounces. But someone who bought into the lows, I didn’t, is loving it, just hope they sell.”
Also discussed is why I believe the shippers are in a major bottoming process, and I’m accumulating DRYS. Plus a look at BTC “then and now”, and the volume in QQQ, AMZN, FB.
So our favorite SQ & OSTK are at the mercy of the bitcoin bubble.
Talked about it today. Let’s “give it some room”, but chip stocks also.
Beautiful setup in XNET. Beautiful.
The Koreans are exuberant traders. Still looks like it has more upside?
https://www.tradingview.com/x/qxwrDpPK/
Yes, I love the Asians, and they love to trade. I’m out David at 14.06, it was a gorgeous setup, 123 after the “break of support”. The only thing I was “bullish” on about XNET going into today was a potential bounce trade below 11.57. The uptrend, for me, is over. Now it’s looking for bounces. And that will fade as the liquidity leaves it. It needs a “reset”, or not. There’s a time to “chase” into reactions, and a time to sit way back. All probabilities.
Saw a couple of huge volume bars show up in NKTR today on one chart but didn’t show up on slo-mo tradingview, signs of distribution?
They look like more stopping action (SA) rather than EA. Where we “should” expect some pretty serious EA is into the daily secondary rally failure high. And probably will see some showing up below first. It’s into a pretty messy area, but what a great stock you found. I’m still waiting for some kind of a reaction setup, or an opening gap down on dumb news. This is a great example why in an overall bull, give these things lots of room. And with stocks like these, my only focus is a reason to buy, until something really hits me hard.
And BTW, that secondary rally failure thing is a bit tricky because there can be numerous intraday ones into a top, but that’s why I said “daily”. But of course the daily top ones are the most potent.