5/9/2021 Markets up this week while tech underperforms. Looking at TWTR and XPEV for going long, and thinking about shorting QQQ again.

Hi everyone, I hope you had a nice weekend.

I was planning on shorting QQQ or doing a pairs trade with QQQ and SPY, but held off on it this week. A couple charts that look good to me are TWTR and XPEV for longer term swing trades (3-6 month or longer holds).

TWTR daily chart below. Last time we hit an RSI this low, we bounced hard. I will either buy a half position next week, or buy after a significant up day with a tight stop loss.

XPEV daily chart below. We are testing the previous “crash low.” Looks like a good time to buy with a relatively tight stop loss. I don’t want to buy now because earnings are in about a week.

I’m thinking of shorting QQQ or shorting QQQ while buying SPY for a pairs trade. I’ll keep you updated if I take any trades.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s