5/2/2021 Market flat or slightly down after major earnings from FANG stocks. Sold REGI for a loss. Looking to short the indexes sometime next week, and looking to buy TWTR.

Hi everyone. I hope you had a nice weekend.

Markets are flat or slightly down this week, and I except selling to start sometime next week. I think QQQ will outperform SPY to the downside, so I might do a pairs trade instead of just shorting.

I sold REGI in my Roth IRA for a small loss (0.25% of my total account value). The trade was 1 cent away from my stop loss at 55, but I sold at 55.74 in post market on Thursday.

REGI weekly chart below. I held for just over a month.

I’m liking TWTR for a longer term swing trade at current price levels (1-3 month hold). I’m going to wait for a retest of the previous low for a double bottom before entering. I may enter sooner if I like the price action (ex. hammer with long lower wick).

TWTR daily chart below. We are in a clear uptrend and we have pulled back to the previous breakout level. I think entering at current prices is too early, so I will patiently wait for signs that we have bottomed.

I’m still holding M and will do so until earnings (or I get stopped out / it hits my profit exit).

I’ll make a new post if I decide to short the indexes. Enjoy your week!

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