Hi everyone, welcome back. Markets continue a little lower this week, and look to open quite a bit lower tomorrow (Monday).
SPY daily chart below. Risk reward favors going long at market open for a day trade. A tight stop (no more than 0.5% of index price) is good. You would sell at market close or if the ~1% gap is filled.
I bought more DOYU because of its fundamentals and also because the technicals look decent. I bought my first position at $5.54 about 2 months ago (1% of my total account value), and now I’ve more than doubled the dollar amount of the investment by buying at $3.64. It is now ~2.5% of my total account value.
Book value is around $3.20 per share, so I don’t expect the price to go much below $3. I have another limit order at $3 which would make the position ~4% of my total account value.
DOYU daily chart below.
Hopefully my BABA limit order at 150 will fill tomorrow or sometime next week. My other limit order is still at 130, and I have slightly more cash if we continue even lower than 130 (like to 100).
Have a nice week.
