Cycle Trading

[Duma]

I played Thur and Fri, so no time to post.

I went long FAS on Mon and then watched prices drop or go now where for 3 days. But M65 was in MU and M3 was >0 so I held on. I was long 50%.

Then I woke up Thur morning to a market that was screaming to go higher it seemed to me. If I really take a hard look at the other indexes even though M65 slope is down, the pb in every case was not that large.

When I saw SPXL set an ATH with the open, I executed at the open. Most of the gain of the day was the gap opening, but still did nice.

Then I looked at TNA and the gap opening barely got it above the 20ema. M65 was declining, but it was a bit subdued. When I looked at the 60min, I could clearly see it was in w3. I said I am taking a chance and also executed at the open. Now I am at 150%.

I thought I was through until I read the ZH article about the continuing shortage of semi’s and how prices were climbing. A perfect storm. SOXL had a big gap open, but I thought it would go even higher and M65 looked like it was wanting to turn up. As of close of day, I would say it was up. As with TNA, 60min was clearly in w3. So I executed again, now at 200%. SOXL ended up 11% for the day.

TQQQ M65 daily could easily turn up Mon so I will look at it then if the market holds over the weekend.

I guess we will know Monday if I made the right decisions, but with ATH’s being taken out, I just couldn’t sit and do nothing.