The low may have been established, but don't expect volatility to come down much in the near term. Range traders can benefit from a whipsaw environment, but low risk breakout traders should still tread carefully.
Just did some late night screening. There are few stocks meeting my buy criteria. The market needs some time to repair. But in time, a new bull market will emerge led by new names. Now is the time to roll up your sleeves and put in the work so you are prepared to act decisively without hesitation.
@markminervini Thank you again. I think I found my calling in stock trading. Your books really helped. I know the US stock market is in bear market. But I look into Hong Kong market and Chinese Stock Market right now.And the breakouts are looking very promising.
Over the past two weeks we've added a small handful of longs. On balance they are profitable and behaving normal. Our best performers include: $ALHC, $VSEC, $BRK.B. We tried to play $BABA, but got stopped at a very small loss. Around the market lows, I covered half my $SPY short that I put on 2/24. Still holding the remaining half at a profit. By default it turned into a hedge against my longs. https://t.co/JXzFFTmMtn
I am still short the $SPY from 12/9. My stop is at all-time highs on both the ETF and the cash index (both must hit an all-time high to trigger the stop). Personally, I have no longs. Our long term mechanical model has not yet triggered a sell signal, but another leg down would pressure it to raise cash. It is designed as a bear market protection mechanism and not to react to smaller pullbacks. But make not mistake, risk is high! Extreme caution advised.
Have a safe and fun New Year's eve, and may 2025 bring you health, wealth and happiness. https://t.co/JXzFFTmMtn
$SOXL was a monster trading vehicle earlier in the year riding the semiconductor boom.
Now it is trash, as semis are in Stage 3 and all of $SOXL gains are gone (it was up 70% earlier in the year).
🚨 BREAKING:
China announced cuts to its reserve requirement ratio for banks by 50 basis points and also cut mortgage rates
Burry bought ~$2 Million dollars of Alibaba $BABA only 3 months ago
INSANE.