Daily Plan 5.10.24
Traders-
GME.
GCT.
CVNA.
CELH.
DJT.
MSTR.
PLTR
SOUN (3.75 to 5.5)
My chat update today at 5200.
So many winners in last 2 days alone. So many great winners. Do not let the noise impact you, continue to focus and execute. Most furus cannot find so many sets up in a whole month, yet we do it in a 2-3 day period. Very exclusive for our subs.
With the emini, these are not the best conditions for swinging time frames. Just look at the range since Monday. We have had 1% move grand total in 5 days. Not the best of the sessions to eke out 30-40, 60 point zippers. Do I control all this?
No. I can just share where levels could be, I cannot control how much juice we can squeeze from those levels. No one can.
MU
MU is an old Substack stock that I called a bottom near 50 in 2022.
It is now 115 or so. I think personally this is headed higher into 130 and if this clears 130, I think it may head to 150.
PLTR
I became PLTR bear for the earnings when it was 26 and my target was 21.
This target has been met. I initially thought that we can fill the gap down at 18. But it seems a lot of traders are now watching this gap fill and consequently it may not fill in this swing.
Due to this reason, I am not bull on PLTR. If 20 holds, I think we may retest 24-25. It is 21 now.
INTC
Though I do not like INTC fundamentals, I think the stock is a bit oversold. I like it if this holds 25-27 zone, I think it may be headed back to 36 area.
As far as emini levels go, I think we have established a good cadence using the chat room where I share updates if I see something worthy. We do not have to share emini levels every day, when the 5 day range is barely 40-50 dollars. Due to the tremendous amount of ideas shared this week alone, I am not sharing an update on Emini right now but may share one in the morning before open. But generally speaking, the action in SPY looks nice. The action in QQQ seems soft. A lot of Banks around the world had a holiday this week- this may have been the reason as lot of these bank traders like to swing heavy on the US tech stocks. So with this said, I think if you are a bull here, you like to see NQ clear 12260-18300. It is now 18220. If we hold 18300, this may keep pressure in SPX as well. So generally I think 18300 in NQ and 4250 in ES could be key levels tomorrow. Bulls need to take these out and stay above them.
You may want to install the chat room below if you have not already.
On an admin side note I have also been thinking about splitting the stock substack and the emini substack. This will only be for new subscribers. Any one who is already a sub will continue to receive both the stock and emini updates at their current pricing! No change for them 100% promised.
~ tic
Disclaimer: This newsletter is not trading or investment advice but for general informational purposes only. This newsletter represents my personal opinions which I am sharing publicly as my personal blog. Futures, stocks, and bonds trading of any kind involves a lot of risk. No guarantee of any profit whatsoever is made. In fact, you may lose everything you have. So be very careful. I guarantee no profit whatsoever, You assume the entire cost and risk of any trading or investing activities you choose to undertake. You are solely responsible for making your own investment decisions. Owners/authors of this newsletter, its representatives, its principals, its moderators, and its members, are NOT registered as securities broker-dealers or investment advisors either with the U.S. Securities and Exchange Commission, CFTC, or with any other securities/regulatory authority. Consult with a registered investment advisor, broker-dealer, and/or financial advisor. By reading and using this newsletter or any of my publications, you are agreeing to these terms. Any screenshots used here are courtesy of Ninja Trader, FinViz, Think or Swim, and/or Jigsaw. I am just an end user with no affiliations with them. Information and quotes shared in this blog can be 100% wrong. Markets are risky and can go to 0 at any time. Furthermore, you will not share or copy any content in this blog as it is the authors’ IP. By reading this blog, you accept these terms of conditions and acknowledge I am sharing this blog as my personal trading journal, nothing more.