End of Day Wrap Up 02/12/2021
Happy Lunar New Year to everyone who celebrates! Today was a rough day, as expected, due to us heading into a 3 day weekend, 4 day weekend for those who celebrate Lunar New Year. I was red in most of my positions, so don’t feel bad if you had a red day. If you had a green day, AWESOME!
If you’re new to trading, it is normal for people to sell off when heading into a long weekend. It’s the best day to accumulate and buy up as many shares possible. I don’t spend money on New Year’s Day, so I sat on my hands, and slept in for the first time in a long time. I also had appointments, so I was busy working as usual.
I didn’t monitor today’s market so today’s blog is quite short. I will be looking at buying as many of the red positions listed below on Tuesday, including SNDL, AMC, OCGN, NXTD, OXBR, and many of my typical swing plays.
How to Utilize My Positions List Below
Many ask how to utilize my top 10 green/red position lists below. Oftentimes, I will exit my green swing positions if it looks like there will be no continuation. My decision varies depending on what my cost price is. It’s all about managing risks, and if it looks like I’ll be in a position where, I’ll be down, I won’t hold, and will choose to reposition myself by accumulating dips on red days over a period of time until it’s ready for the next run.
To Buy On Green Days or Not
I will add to my green positions on green days only if it’s moving in the direction I like and forming higher lows, and showing a bullish chart. I make sure to scale when adding, especially on green days, because it can go south quickly.
To Buy on Red Days or Not
I will almost always accumulate my red positions because they usually move back up, unless it’s a clear pump and dump, which I will never swing because it’s too risky. If there are sharp spikes and a quick drop down, then it’s a clear pump and dump. If the chart slowly drops in price throughout the day, then that’s usually people taking profits. To make the call on re-entering or accumulating, I look at the 5D, 10D, 30D, 90D, 180D charts and I monitor the volume. I love adding when there’s little to no volume when setting up long swings.
Top 10 Green Positions (02/12/21):
Top 10 Red Positions (02/12/21):
I monitor Market Movers every single day to scan for new setups. I mainly look for positions with unusual volume that are at the bottom, ready for a reversal back up, or if they remain green, I look for a bullish chart for a continuation.
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