Well, not much to report this week. Pretty sideways week after Monday...a little green and that's good. Getting increasingly good at staying out of trouble/ sitting on hands until something decent evolves...and that's good too.
Took some profit on ARM and SMCI as could see a PB increase after outside down on Semi's ETF. Interesting, to me, with stock trading to see that with the Minervini method I now use there just isn't a lot of action currently.... BO's aren't working well...PB's keep pulling back...stocks that have looked super strong are getting sold hard. Sitting on hands here too except for the few Tech names that have had good RS AND low risk set-ups. (CRWD,ARM,SMCI and ESTC)
Then I have a few stocks that I bought a couple years back when I thought that buying weakness in"good" names was the way to go. I know that if I hold these names forever...they will pay me (SQ, INTC and BABA). But all they are doing right now is holding 7k hostage that I can't use to actually make money. My goal asap is to get out of those names and never, NEVER hold losing stocks in my portfolio again.
Minervini challenges his disciples sometimes to "just watch stocks...forget the indexes". I don't do that because I also trade futures but I get what he is saying...knowing what is happening to individual stocks and various sectors is a "peek under the hood" of the indexes and is a great tool for knowing when to hit the gas or not IMO.
Anyway, that's it for me...slightly green week and decent actual trade management. Can't complain.
Craig