BIG $Big Lots(BIG)$ High short float, +40% move in a month, price action penetration of declining MAs on big volume, bounced off flattening 20-MA. ImageSetting up beneath $9. Nothing is certain in the market, but the visualisation on risk reward of the trade definitely tilt it favourably to the buy side for the short termThis is an update of my earlier tweet. I think sorting the list based on their extension on their own individual ATR% from 50-MA would answer the multiple queries of which are better opportunities

23/6/2023 Market Diary1. MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ +1.11% further supported index level performance as QQQ $Invesco QQQ Trust(QQQ)$ +1.18% bounces off its trendline and rising 10-MA. 2. The broader market, though, exhibited weakness due to continued consolidation efforts, RSP $Invesco S&P 500 Equal Weight ETF(RSP)$ -0.41% IWM $iShares Russell 2000 ETF(IWM)$ -0.74%. Short term breath also reflected more negativity, though MMTW (55.35%) remains above 50% bullish bias benchmark. 3. Notable group decliners are in KBE $SPDR S&P Bank ETF(KBE)$ -3.2%

QQQ $Invesco QQQ Trust(QQQ)$ updateImageIt is prudent to take partial profits on positions that have broken trendlines or key levels. However, it can be beneficial to maintain a proactive approach and consider adding to positions that are demonstrating resilience and holding up strongly, while their MAs catches up. $StoneCo(STNE)$ $Coupang, Inc.(CPNG)$ $Airbnb, Inc.(ABNB)$ $Zevia PBC(ZVIA)$ $Cipher Mining Inc.(CIFR)$ $DoorDash, Inc.(DASH)$ $Grab Holdings(G

In my view, decision-making in the trading business should rely on quantifiable data. A method I personally employ for scaling out and taking partial profits involves setting a threshold based on the multiple of Average True Range (ATR%) from the 50-day Simple Moving Average (SMA). For instance, I find it beneficial to start taking profits when positions exceed 8-10 times the ATR% from the 50-SMA. This practice helps prevent second-guessing or becoming emotionally attached to any particular position. A relevant example illustrating this concept is the case of $Palantir Technologies Inc.(PLTR)$ $SoFi Technologies Inc.(SOFI)$ $Tesla Motors(TSLA)$

21/6/2023 Market Diary1. A welcoming consolidation in the market after a big recent run. Remarkable that major indexes were able to close off their session lows thanks to MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ -0.14% recovery from early weakness. MGK was -0.9% intraday.2. Strongest group move were in Bitcoin related ETFs, $Grayscale Digital Large Cap Fund LLC(GDLC)$ +13.14%, $Valkyrie Bitcoin Miners ETF(WGMI)$ +9.74%, $Bitwise 10 Crypto Index Fund(BITW)$ +7.12%, which may set them on track to continue their market leadership in 2023. BTCUSD was up +5.19% while GBTC +11.44% for the day. WGMI could be the

$S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $DJIA(.DJI)$ Traders would greatly benefit from enhancing their review process. It is essential to implement a review system that actively monitors and enhances performance. The trading strategy itself is secondary and holds less significance. Commence your journey from wherever you currently stand and propel it forward through the incremental practices of tracking, reviewing, and improving. By consistently analyzing and refining your approach, you can steadily progress and achieve better outcomes in your trading endeavours.Image

BTCUSD getting closer to 200-MA. Some bitcoin miners in my rs watchlist $Cipher Mining Inc.(CIFR)$ $Marathon Digital Holdings Inc(MARA)$ $HIVE Blockchain Technologies Ltd.(HIVE)$ $Bitfarms Ltd.(BITF)$ ImageBTCUSD daily & weekly at 100-MA on daily but BTC still looks vulnerable for a breakdown from its bearish pennant contractionImageIf we look at trailing 50-MA wise, RIOT $Riot Blockchain, Inc.(RIOT)$ price action is treading below it for 2-weeks. MARA $Marathon Digital Holdings Inc(MARA)$ Is still holding and getting really tight i

$Innovator IBD 50 ETF(FFTY)$ FFTY - Innovator IBD 50 ETF (Weekly)The weekly price action has surpassed the 50-week MA level this week, which had not been achieved since June 2020. Moreover, there have been instances of notable increases in trading volume, indicating potential bottoming process. There is a significant support-turned-resistance level at $26 that needs to be cleared. At the same time, the 50-week MA is undergoing a transition from a declining pattern to a more flattened trajectory. Similar development is also observed in high beta ARKK $ARK Innovation ETF(ARKK)$ and IPO $Renaissance IPO ETF(IPO)$ Image

$Microvast Holdings, Inc.(MVST)$ MVST - long base, low $ float, high ADR% idea The recent one-month rally of 12.55% in the FDRV $Fidelity Electric Vehicles and Future Transportation ETF(FDRV)$ group has drawn my interest towards MVST, a battery technology company that is involved in designing, developing, and manufacturing battery components and systems primarily for electric vehicles (EVs). It broke out of a year-long downtrend line (DTL) with a gain of 42%, following higher revenue guidance provided last month. Despite news of a -36% decline due to an incentive halt from the US Energy Department two weeks after the breakout, the stock has been consolidating above its year-to-date (YTD) low. ADR%: 11.2%

QQQ $Invesco QQQ Trust(QQQ)$ - Second Time In A Decade The impressive three-month rally has been primarily driven by the performance of QQQ, surpassing all major indexes year-to-date. It is important to conduct a periodic review of the index rally's extension, considering that it is generally not advisable to purchase stocks that have become excessively extended in their price. Moreover, it is prudent to be mentally prepared for a potential correction, considering historical precedents of such occurrences. Currently, QQQ is trading at a substantial distance of nearly 10% from its 50-day exponential moving average (50-EMA). It only happened once in the last 10 years (09/2020), before a subsequent -14% 3 weeks pullback.Image

16/6/2023 Market Diary1. Market experienced a highly robust day, with strength extending to various sectors at full capacity. QQQ $Invesco QQQ Trust(QQQ)$ +1.19% MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ +1.34% continues to display relative strength in its leadership. 2. QQQ $Invesco QQQ Trust(QQQ)$ now at a substantial distance of nearly 10% away from its 50-MA, which only happened once in the last decade (09/2020). Bullish bias short term breath have also reflected deceleration. 3. While market may continue to break new highs in mid-term, it is worth to dabble lightly for now. 4. FDRV $Fidelity Electric Vehicl

15/6/2023 Market Diary1) MGK $Vanguard Mega Cap Growth Index Fund ETF Shares(MGK)$ +0.61%, led SPY $SPDR S&P 500 ETF Trust(SPY)$ +0.12% and QQQ $Invesco QQQ Trust(QQQ)$ +0.73% to close with gains, but intraday action of the market painted a vastly different story as indexes experienced wide swings exceeding their ADR% (eg. $QQQ 1.4%), before erasing most of its losses. 2) FOMC voted to hold the target range for the fed funds rate at 5.00-5.25%, but the release of the Summary of Economic Projections showed an upward adjustment of the rate to 5.60%. 3) XLE $Energy Select Sector SPDR Fund(XLE)$ -1.1% and XLV

During a multi-week rally like the current one, one of the most difficult tasks is identifying sectors or groups that are demonstrating significantly stronger relative strength compared to the overall market. KBE $SPDR S&P Bank ETF(KBE)$ and KRE $SPDR S&P Regional Banking ETF(KRE)$ are two examples of such groups exhibiting these characteristics currently.ImageWhen you reach a point where you start shifting your focus and prioritizing your maximum equity drawdown over the potential return of each individual trades or investment, you have entered a stage of heightened risk management and capital preservation.

14/6/2023 Market Diary1. Further broad based advance, IWM $iShares Russell 2000 ETF(IWM)$ +1.15% outperformed the other major indexes. 2. Biggest positive catalyst driving the bullish bias came from further softening in inflation as it's now down 4.0% YoY vs 4.9% reported a month ago.3. This corroborate the market's view that Fed may not raise interest rate later today, and also further dilluted expectations of a rate hike in July. 4. At sectorial level, XLB $Materials Select Sector SPDR Fund(XLB)$ +2.3% and XLI $Industrial Select Sector SPDR Fund(XLI)$ +1.2% saw the biggest gains, while KWEB $CSI China Internet ETF(KWEB)$