It amazes me that the QQQ's or the Nasdaq stocks have fully recovered from the drawdown that happened starting in Mid-feb which went all the way down in mid-April. In hindsight of course, everybody would have caught this bottom. I guess sometimes it pays to bet on these things on the way down when you're a big player.
The SPY has not been as strong but this is understandable. I guess a lot of stocks in the SPY will be hurting for longer than the tech names we know. It still is a nice swing to the upside and again while I'm betting for a pullback, I don't know when this is going to happen.
What this means for me this week is that while I'm going to take setups, I will be taking them knowing that the swing might not extend to as far as I would like. I will still retain my stops and everything and I'm not going to change them. I'm going to focus on getting the buy points correctly. But this definitely changes and shapes my expectations for this week.
Here's the list I'm focusing on for this week:
No comments:
Post a Comment