Good grief, my two ‘finds’ a week ago turned out to be losers this last week. The distinction is one was absloutely a good loss while the other was just a loss.
The good loss would be SVNT. After nearly getting stopped out on Wed, the open on Thursday sealed the deal. Yes, I got triggered below my level due to the yawning gap, but far better than what coulda been:
I'm not complaining about this stop out
On the other hand, NVDA now looks like a punk loss. I was banking on the ‘plethora’ of DEMA’s to hold the line for me, but the smart players took them out, stopped me out in the process and then ran prices back up to my entry. Well done, jerks:
It happens. I still like NVDA so long as SPX can hold and resume the uptrend:
Hold this level then resume??
I entered these positions while $TICK was closer to a top than a bottom, so a pullback was to be expected. I thought my stops were far in a place that would keep me in the game. Oh well, manage risk first.
I see no strong reason to buy here because 1) Tick demas are still not washed out:
2) I promised myself no more fiascos like the last 2 summers!! May is awfully close to summer so I need to become very stingy with my small, yet precious, gains and 3) I now spend 10 hours a day staring at spreadsheets instead of the market, so unless the market is in a bona-fide trend i have no real interest in “Dowfolio getting slapped around just for sport.
