Weekly Plan 4/17 '22

TSLA, LMT, BAC Updates

Traders -

In this newsletter I have a couple of bonus sections. One answers the very common question how I pick my Line in Sand (aka stops) for my swing time frame and longer time frame plays. I also discuss briefly how I use Cumulative Delta in my own short term, intraday trading. I also share my thoughts and levels on some earnings this week, like Tesla.

As I start penning this week’s newsletter, the storm clouds are gathering on S&P500 and other indices. Bearish momentum is growing at least in the charts and sentiment , mega cap stocks come under pressure .. the world seems on brink on collapse - once again.

Against this back drop,  I will be sharing my thoughts and levels on what may precipitate the bearish momentum which could target 4200. I will also share a key level which may help the bulls next week.

What does being bearish mean anyways.

If you look at some of the names I shared this year after I started this newsletter, there is no bearish market in them. Some of the names I shared this year, below are some YTD percent changes . Do you spot a bear market here?

NEM: YTD 37%

SFM: YTD 8%

VALE: YTD 39%

ADM: YTD 43%

CMC: YTD 23%

LMT: YTD 32%

CALM: YTD 47%

This is not the complete list of names I have shared in my substack and Twitter. Compare this to YTD of -6% for SPY and compare this with ARKK which is down -37% YTD!

This does not mean these returns will continue or that every name will do well, my point is there are stocks out there which can do well even when the general market sucks.

My goal is to share whatever crosses my screeners and scanners and whatever I am watching with my subscribers here in this newsletter.  If you have not already, consider subscribing to my newsletter for 4-5 posts every week.

While I believe the market is right most of the times, at times it can overshoot on emotional trading.

One such example is NVG. It is a closed end Muni fund which has been absolutely hammered due to the rising bond yields this year.