Pretty amazing week with continued large moves in retail and as of last Friday-tech!…would not mind this to continue! I ended the week with my best batting average yet of 81%…no surprise that nearly all of my plays were shorts. When I stand back and look at it, it truly makes me wonder why I even go long. I have been slacking on weekly recaps, I am now committing to be more diligent and utilize the slower summer mid mornings to get on a regular blogging routine.
Heavy hitters this week for me were the following stocks, 95% of all of my plays were in this small handful of stocks. These are “go-to” stocks for me when the set ups are there:
NKE, FL, DKS, NVDA, YHOO, AAPL,AMZN
Finding stocks that you are familiar that move in conjunction with the market I think is integral for success. Banks are another sector that could be added into the mix as they typically follow the market, although with the sector rotation that seemed to happen this week the flow didn’t seem to be there.
Here is a snapshot of a trade I took late today (2:30pm EST) on NVDA. This is something that has been really working for me on the short side, I like building into a short into prior resistance and then adding upon confirmation. I was hoping for a bit more of a bleed but making $1.30/share on a .30 risk is not too bad of a scalp.
Time for me to go surf. Have a great weekend, everyone!