Trading Watchlist:
1. NATGAS
In light of NATGAS’ severe decline, take profits out of UNG as soon as possible, because NATGAS is approaching a major support level.
In turn, potentially, look to go long NATGAS.
2. UNG
Take 2/3 profits out of UNG as soon as possible.
3. QQQ – analysed.
4. BTC – analysed.
5. SPY – analysed.
6. GOOG – analysed.
7. SMCI – analysed.
8. XAUUSD – analysed.
9. GFI – analysed.
10. RUTS – analysed.
11. UVXY – analysed.
12. JETS – analysed.
13. CMG – analysed.
14. GDX – analysed.
15. SAP – analysed.
16. US10Y – (analysed) the US10Y’s price action has respected the declining parallel channel to the “t”, confirming its predictive power:
Therefore, look to open a TLT short position if the yields reach the top of the parallel channel:
17. TLT
18. DG – analsyed.
19. FFIV – analysed.
20. SAP – analysed.
21. HOOD – analysed.
22. UAL – analysed.
23. BIDU
Start scaling into a BIDU long as soon as possible.
And scale into an additional BIDU long using a limit order, and adjust the stop-loss level to factor in any unusually volatile market movements:
24. TIGR
Using a limit order, start scaling into a TIGR long.
Learning Points
- US10Y – the US10Y parallel channel adds further support that the parallel channel is a very powerful predictive indicator of the direction of the markets.
Next Actions
- Take 2/3 profit out of UNG as soon as possible.
- Watch today’s “Trading the Close”.
- Closely monitor the US10Y for a possible TLT long trade.
- Start scaling into a BIDU long as soon as possible.
- Scale into an additional BIDU long using a limit order.
- Using a limit order, start scaling into a TIGR long trade.
