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Splunk: Earnings Preview (115.20 -1.44)
Splunk and Nutanix report today after the bell. Data usually
trades off those names during earnings. So you may want to keep an
eye on that.
Matt, Let me help out if you don'y mind
Position sizes tend to be arbitrary based on risk tolerance. For
You have $50k trading account, Normally it is not wise to exceed
10% of your portfolio. Can change depending on tolerance and
So you have $5k per idea, Now if you keep your stop at 5% of
entry, Max risk you take is $250 (Assuming NO GAP risk)
$250 loss on 50K is only .50%
Now if you told me, I am ok losing 1K on a trade, than you can
adjust position size up to 4x, while keeping the stop on.
Alway keep an eye on Volume, You don't want to get too large on
a position if it does not trade at least 100k shares a day.
If volume is low, keep position size small too, you don't
want to get larger than 5% of Average Daily Volume. So if it
trades, 50K shares a day, most you take is 2500 shares. Even if
that is below your calculated position size.
SPX 15Min - Extended out TL, we broke for 2nd time
JROGER, Look at the CCI on this chart, most oversold compared to
other similar period with positive divergence setting up.
$TLT looks ugly, but can settup double bottom. Divergence
setting up. The summer rally needs a catalyst, I think its rates,
NAFTA and China deal that will catapult us higher. ST just chop /
digestions from wedge breakout.
Same game he plays every time, sets expectations low, so
he can take praise when deal happens
Is that bullish or bearish?
Bradley dates only predict turns - doesn't specify direction or
markets. can apply to commodities, equities, debt - doesn't really
matter. I have tracked this for 4 years now and every turn date is
not specific to a particular end market. Friday was the turn date -
so it could very well apply to equities based on move. Time will
tell. I just use Bradley dates to be minndful of major turns. can't
really trade off of it.
Friday Observation - Nothing technical about this post except we
are bumping against 20 dma. Today is Friday and recently the market
fades off into the close ahead of the weekend. Given the political
revelations this week and china trade mission not producing result.
I shorted some SPY @ 265.49. Plan to cover before close of
above the 20 dma.
$SPX - 200dma being defended, 2 touches now, if it breaks, we
could flush down
Interesting observation, I am on the CVS earnings call waiting
for it to begin, Music in the background is soft jazz, I decided to
listen to the newsletter and the audio overlays on top of the soft
jazz, makes the viewing of the newsletter even better. Voice over
the music with the charts works well.
AAPL System? Does she go long today?
I am a big fan of covered calls. helps u keep fav positions and
collect a dividend. doesnt work if u expecting a waterfall selloff.
I use cash / covered calls mostly for hedging
$VIX is currently below the lower BB- Something to keep note
Same game over an over. Market gets killed on Fridays as
investors fear the unknown Twit/firing/war over tghe weekend.
Market will rip Monday morning if nothing bad comes out lke the
OKTA is a very interesting story. I normally don't trade on
charts but noticed this one in the newsletter. I looked up the
name, its a Single Sign On Cloud company for customer management.
It has all the key buzz words, SAAS and Cloud and it's been growing
fast, Last year revenues grew by 68%. I bot 1000 shares today and
am gonna let it run. Short term could be volatile but this is a
small cloud co, $4 billion market cap, that will likely get gobbled
up in the next couple of years. Co was founded by one of the
original employees of
Matt, not referring to SPY. I might be aging myself as a
customer, but I do recall you had a chart system on general market.
which highlighed or caught trend days after the first 30mins.
I had it saved on stockcharts, but i cannot find
Matt do you still have the trend day system. Just like
last week, mrkt gaps down after a politician speaks (Legard IMF)
this week. Market was bot at open and rallied the rest of the day.
coincidentally it was also a wed, Market acts like it wants to be
bought long. Any thots would be appreciated.
SPY Bear Flag - Keep an eye out - Very ST Time frame
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