I don’t think this $GME after hours pump holds until Monday
But if it does, I’ll be paid
Already up 90% on these contracts after buying this morning and already sold about half of the original position.
I don’t think this $GME after hours pump holds until Monday
But if it does, I’ll be paid
Already up 90% on these contracts after buying this morning and already sold about half of the original position.
I don’t think this $GME after hours pump holds until Monday
But if it does, I’ll be paid
Already up 90% on these contracts after buying this morning and already sold about half of the original position.
This was one of the tougher months of my trading journey
Coming into this week, I was down on the month
I was struggling to take consistent winning trades
I felt my account slowly bleeding out
I knew I had to lock in
I ended up going 4/4 on my trades this week
$ET 🟢+27%
$OPEN 🟢+60%
$ONDS 🟢+50%
$LYFT 🟢+24%
I traded less, decreased my position size, but made sure that my winners were bigger than my losers for the entire month.
This was the discipline I needed to have to end the month profitable.
The markets are in a tough spot right now
Let's go over the key data points
$VIX is at 27 and is set up in a daily flag looking to go higher
Fear and Greed Index is in Extreme Fear
$NYMO NYSE McClellan Oscillator showing market breadth is nearing April 2025 levels meaning that we are in oversold conditions
The American Association of Individual Investors (AAII) Survey on What direction will the stock market be in 6 months? jumped up to 46%. This is the highest investors have been bearish since November 12, about 1 week before we bottomed.
All of these indicators show that we are close to a local temporary bottom and are in oversold conditions.
However, there is more data to look at that helps paint the entire picture.
I think next week, possibly due to a news headline, we see the VIX spike to 34+. This should signal a strong buying opportunity which will be close to, if not the local bottom in the indexes. From there we will get a decent bounce in the indexes with the $NYMO getting back to 0. Then over the next couple of months, I believe we go lower than where we currently are led by weakness in $BTC and $ETH.
Ultimately, I am making an educated prediction on the price action and data I am currently seeing but my entire thesis can change if I see something different over the next few weeks. It is important to adapt and not be fixated on one idea.
Let me know what you guys think about this write up and your predictions for the next few months!
The markets are in a tough spot right now
Let's go over the key data points
$VIX is at 27 and is set up in a daily flag looking to go higher
Fear and Greed Index is in Extreme Fear
$NYMO NYSE McClellan Oscillator showing market breadth is nearing April 2025 levels meaning that we are in oversold conditions
The American Association of Individual Investors (AAII) Survey on What direction will the stock market be in 6 months? jumped up to 46%. This is the highest investors have been bearish since November 12, about 1 week before we bottomed.
All of these indicators show that we are close to a local temporary bottom and are in oversold conditions.
However, there is more data to look at that helps paint the entire picture.
Both $BTC and $ETH are in weekly bear flags putting in shooting star🌠 candles last week. Both rejected key resistance last week and rejected the same level yesterday.
$QQQ is in a weekly bear flag closed the week with a shooting star 🌠 candle on the weekly and daily chart. $QQQ rejected key support yesterday as well.
This price action in the crypto markets and in the major indexes show that it is likely that we go lower.
The data I have written about somewhat conflicts so let me explain what I think will happen.
$LYFT
🔴-24%
If you zoom out on the weekly/monthly timeframes, I think there is a big opportunity here. However, it is not ready yet. I will definitely be monitoring this name and try to enter when I see fit. All the trades I have been taking recently and for the foreseeable future are with smaller size.