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!