Shared by
spyrosz
Thought there was a chance to at least test (if not break) R1=$183.
Not a chance and quickly got out for a b/e trade.
Remember:
MAJOR PRINCIPLE-1: be "long" in a Bullish market and "short" in a Bearish one.
-- understand which sectors have solid basic conditions, show strength and a strong uptrend--> search for the "long" opportunities there
-- understand which sectors have weak basic conditions, show weakness and a strong downtrend--> search for the "short" opportunities there
example: COVID-19
-- strong sectors: QQQ (tech), FDN (internet), IBB (biotech), XLY (consumer discretionary)
-- weak sectors: IWM (small-caps), XLF (financials), XLE (oil), XLI (industrials)
Weak stock on a very weak-underperforming sector (airlines)---> short all rallies to resistance, avoid getting long.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-07-24 10:38:38 | BA | buy | $179.330 | long |
| 2020-07-24 10:39:53 | BA | buy | $179.570 | long |
| 2020-07-24 10:43:56 | BA | sell | $180.540 | long |
| 2020-07-24 11:03:24 | BA | buy | $180.910 | long |
| 2020-07-24 11:05:32 | BA | sell | $179.844 | long |
| 2020-07-24 11:12:22 | BA | sell | $179.460 | 0 |
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