My trading notes on this market

To say that I have enjoyed this week of trading so far, or even this month for that matter would be an overstatement of the grossest of proportions (somewhere an English major is probably having fits with that sentence). The market has hardly moved, and when it has, it has quickly been faded each time, regardless of then current direction, the opposite way to simply close the market flat. 

Now today we have another weak open, and while we may sell off further once the market opens, nonetheless, the bulls at some point will likely try to drive the market back up to break even. 

And if we were to of opened up higher this morning, the exact opposite would have been true. Rally a little higher after the open and then kill the market in the afternoon. 

The CBOE Market Volatility Index (VIX) continues to be quite an interesting watch. Yesterday marked the highest close for it since the election of Donald Trump. If you ask me, I’d say that thing is ready to crash and burn again. It has been the norm for the past four months in particular, and I expect it to be the norm still. 

On the other hand, you have the T2108 (% of stocks trading above their moving average) hitting almost 55% and sporting a rather nice inverse head and shoulders pattern on the daily chart. That is the most bullish that I have seen it, in months. 

So there are definitely some divergences out there, and then you have the lingering threats of N. Korea and Syria and all the saber rattling that goes along with it. And on Friday for Good Friday, so that adds an extra day for the market to be closed. 

But lets stay focused, keep working this market and get through the challenges the market sends our way. 

stock market today

S&P 500 Chart

trading notes t2108 spx

Current Stock Trading Portfolio Balance: 

  • 5  Long positions

Recent Stock Trade Notables:

  • Las Vegas Sands (LVS): Long at 57.24, closed at 56.53 for a 1.2% loss.  
  • UPRO: Long at 91.94, closed at 96.54 for a 5.0% profit.
  • Alibaba Group (BABA): Long at 105.736, closed at 108.22 for a 2.4% profit. 
  • Facebook (FB): Long at 134.27, Closed at 139.23 for a 3.7% profit. 
  • CDW Corp (CDW): Long at 58.65, closed at 58.91 for a 2.7% loss. 
  • Redhat (RHT): Long at 82.41, Closed at 83.53 for a 1.4% profit. 
  • Ambarella (AMBA): Long at 57.15, Closed at 55.52 for a 2.8% loss. 
  • Alibaba Group (BABA): Long at 104.73, closed at 106.05 for a 1.3% profit. 
  • Broadcom (AVGO): Long at 218.63, Closed at 222.71 for a 1.9% profit. 
  • American Airlines (AAL): Short at 44.76, Closed at 44.03 for a 1.6% profit.
  • UPRO  (Day-Tade): Long at 95.35, closed at 96.50 for a 1.2% profit.
  • OZRK: Long at $56.12, closed at $54.69 for a 2.5% loss. 
  • FNSR: Long at $34.25, closed at 34.70 for a 1.3% profit. 
  • UPRO  (Day-Tade): Long at 96.92, closed at 98.03 for a 1.2% profit. 
  • JP Morgan Chase (JPM): Long at 87.21, closed at 89.67 for a 2.8% profit. 
  • Chevron (CVX): Short at 110.03, covered at 111.85 for a 1.6% loss. 
  • Flex Technologies (FLEX): Long at $15.62, closed at $16.57 for a 6.1% profit. 
  • Baidu (BIDU): Long at $174.70, closed at $187.00 for a 7.0% profit. 
  • Ollie’s Bargain Outlet: Long at 33.20, closed at $32.50 for a 2.1% loss. 
  • Corning (GLW): Long at $26.98, closed at $27.45 for a 1.7% profit. 
  • Illinois Tool Works (ITW): Long at $127.74, closed at $129.86 for a 1.7% profit. 
  • Marriott Int’l (MAR): Long at $86.16, closed at $87.51 for a 1.6% profit.