Weekend study: Share one observation from the QCOM vs NDX chart that really stands out to you.
You’ll be amazed how much could be extracted from a single chart.
$QCOM has been mentioned repeatedly in my streams as an example of how the next market leader in the AI bull may not have appeared yet. Its stage 2 uptrend began in Jan 1999, near the late stage of the late 1998 lockout rally, and it eventually delivered a staggering 2,900%
On bounce days after a distribution day, I was often tempted to go long and found myself mostly on the wrong side of the trade and getting stopped out. Those losing trades guided me to learn and develop the pullback short setup.
Parabolic volume expansion🚀
If I could share just one technical edge with others, this would be it.
When stocks are skyrocketing into no man’s land and the market is getting euphoric, it’s even more critical to stay calm and get out fast when the music stops.
It's time to look for potential support level for short covering or mean reversion long.
$QQQ is approaching to the AVWAP from April 2025 tariff low. An undercut toward 570 would be a level that I'm particularly interested in. It also lines up closely with the 50-week EMA.
$GLD $SLV
Shorted at the first bounce into the declining 9 EMA after the close below it.
No matter where they go I'm very thrilled with the trading plan, the patience and the execution given that I'm a chronic overtrader and the heightened volatility with so much noise out ther
My first $100k trade.
Closed my shorts on $SLV and $GLD.
Very unfortunate I can't keep my promise of holding into the 50 EMA. May revisit if there is any rebound.
It's gonna be a pretty long one. Snacks and drinks are recommended. Feel free to leave any questions in the comment section!
Kudos to @ RichardMoglen for listening to me yap for 4 hours. I'll keep it short next time.🙂
+25% today. Another record-breaking day.
Shorting bounces into the declining EMAs continues to provide the best risk-reward entries. I have highlighted it several times in my stream and previous posts.