Retail Traders — whatsup???
Welcome to Friday Night Notes with yours truly. Here I discuss my trading week and how I currently see the market. If you want more info you can Follow Me on Twitter or Like Me on Facebook. If you want to learn more about how I trade, check out The Beginner’s Guide to Breakouts and this quick blog post which details my process.
With that said, let’s move on…
Trading Notes: I closed out LLNW for a great gain of +18% — but then it kept going without me and yeah, that made me mad. I opened up OXGN and watched it go nowhere and then closed OXGN for a small loss of -4%. Then I opened up GPRO in a pretty risky place and have watched it trade back and forth.
Anyway — that’s me. Hope you rocked it! Let’s move onto the markets.
Market Notes: As always, I’m tracking the IWM, which is the ETF that follows the Russell 2000 Small Cap Index. As I trade volatile stocks below $5, that’s the one I keep an eye on.
And here are the charts…
Notes: Flat, flat, flat — that’s what I see here. Well, maybe not flat, but definitely back and forth. For a trend trader like me — this is the worst type of market.
Notes: Once again the market fooled everyone in the world — including me — with another strong bounce off the 50 day moving average. Will we see new highs? i kind of hope so — just because that will freak everyone out — and I love when everyone freaks out.I know, I’m so mean.
Notes: So close to new highs. Maybe one day this market will crack lower — but we have to wait for it to happen. Well, I guess we don’t have to wait, but picking tops is a dangerous game, believe me.
- Hourly: UP/SIDEWAYS
- Daily: UP
- Weekly: UP
Good luck out there everyone!