Main Movers (Not characterised by % move but by a change of character, aka breakout, breakdown or high volume).
Up: CSIQ, GME, DVAX, RIOT, MARA, MNSO, TIGR, COIN, STLD, CLF, NUE, QBTS, NVTS
Interestingly, a lot of the top liquid gainers were crypto related stocks, metals and China as a whole.
NVTS nice move following news, the day after I axed the position to maintain a correct risk profile across all accounts, it happens, no regrets there.
TIGR interests me after seeing how much people actually use the app, not interested in entering here though, need better R/R.
CHINA I liked the BIDU idea documented a few days back, the problem was calls are so juiced, R/R was shit and a lot of people have the same idea heading into 4-8th November. It doesn’t mean the trade can’t work, yet like I’m explained on many occasion, I’ll only risk my cash hoard when the R/R makes sense. Three legged horse odds on a stallion.
GRAB Multi year base follow by a strong breakout and now a tight flag, could get a nice risk here at local lows.
NTLA still waiting for the next data release, ARKG nice little pop yesterday however it just remains in range. Thesis for the trade still stands unless cathie decides to keep selling at lows 🤦♂️
Quantum and Nuclear have been the leaders of the last 3-4 weeks, there’s no doubt about it. Question is what’s next to move? NVDA and TSM are very close to turn flat/bearish here, as are a lot of names. Yet there’s no real bears screaming anymore, most of those from the past 2-3 years have gone quiet… This scares me.
I went over 800 names today, basically every name in the market that has high liquidity and many have just been trending higher continuously. Then you have names like CVNA trading at 80 P/E and that’s not even close to the most expensive. We’re also at the point where everybody is assuming China will rip on any good news, with GS and other large funds back to “normal positioning”. Lets not even discuss the names with no revenue, some of those now trade at infinite multiples…
Just food for thought…
MELI – Nice 2.5 month consolidation, Earnings in a few days is incredibly annoying and bad timing for the setup. I will see how the market reacts and if they can beat once again.
$IZRL – Finally trying to push through, will buy pullbacks only, if it doesn’t get back and/or I don’t get filled for a stupidly low price then it can go without me. Gimme the 10/1 odds or I’m not interested.
$SBLK – Been patiently waiting for a pivot in this name, it’s finally here. Will look to see how it holds at open.
$TGTX – Very nice growth name, next leg looks ready, aggressive mover on pops so would just be interested in a 3-5 day move.
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