Hi everyone, welcome back.
Indexes were down quite a bit early last week, but recovered to be slightly up for the week. Risk reward favors a move up, and many of the last pullbacks have ended after being down this size.
I recently started teaching Go (a strategic board game) as a fulltime job, and it has been extremely satisfying although it means I’m much more busy now. I’m glad that I couldn’t find a suitable corporate job in the 8 months I looked. I know I’ve found what I love when I forget that I’m supposed to get paid for my work.
Over time, I’ve learned to hold trades longer, so I’m starting to think more like an “investor” now. Holding trades or investments for longer has made it easier to continue doing what I love outside of the stock market. I still don’t like US equities in terms of valuation, and really like Chinese equities (especially BABA).
WBA weekly chart below. I’ve held for nearly 3 months now for slightly above break even. It almost hit my automatic profit exit at one point, but unfortunately didn’t quite get there.
BABA weekly chart below. It’s finally showing some signs of life, although I don’t mind if it drops to 130 because that’s where my last limit order is.
QQQ weekly chart below. Not much movement this week, and risk reward favors a move up.
I look forward to what next week brings.