One week ago we were setting up shorts in XHB looking for new lows, and today’s break completed several of those objectives. Let’s review one of the key themes of these trades and how we want to participate in trending markets.
In this video, we’ll walk through my top 5 favorite setups for the month of April on names like LMT and CCJ.
We’ll review the overall market conditions, walk through the various sectors, and take a look at where there is good looking structure at the moment. We’ll also define some of our favorite squeeze setups we’d like to take advantage of.
In this update, I explain the most essential aspect of trading: What you trade! The symbols and why they have earned a spot on your watchlist. Get this part of your trading right, make it your strong suit and you won’t care if the Dow is down or S&P is down; you will have the outperformers in your book.
It’s not the broader averages I am paying attention to at all! The inflation and macroeconomic trends are continuing to outperform the messy indices. Free yourself of making your trading all about just three or four markets and remember that the markets are a great big place to find setups.
Going into earnings season, we discussed the high likelihood of Tesla rallying on average about 20% in the Hot Zone. I know it seemed crazy at the time, but here we sit after a Hot Zone rally from $900 to $1145, and I don’t think this move is over yet. Here is a video on how I’d add another Stacked fly to continue on with this momentum move.
Last week we had a plan for EOQ1 and a suspected plan to start Q2. Today it appears the market spoke to our plan so let’s try and go with it. Reverse to Bullish Equity and Bearish Treasury per tonight’s video.
The Nasdaq is a stone’s throw away from experiencing a major breakout, and it’s occurring right at the time when I look for major pre-earnings moves to occur. Let’s talk about TSLA, AMZN, GOOGL, FB, TWTR, and more.
Coffee seems to know the way and that’s a good thing. Nat Gas is holding steady. Crude gets news from both sides but holds and the Grains & Gold just don’t quite look ready yet. Equities experiencing the 1st of new Qrtr markup per the plan so let’s dive in and see about making a plan to trade all of this.