NPP's This Week In Trading 5.26.19
Current Market Environment: Volatile
It was a flat week for us, but in the light of the SPX shedding -1.34%, it wasn't too shabby. Our updated trading style that we mentioned last week is already helping us beat the general market. We will continue our late-trend trading style, only buying when sentiment is at extreme lows and selling for quick profits on the bounce.
Thanks to a Friday rally, a lot of the short term negative sentiment was washed out. But a gap down and plunge at some point next week would again put sentiment back into a buyable bounce zone. That's what we'll be waiting for. The names we are looking to buy when this happens are: AMAT AMD AMZN CRM JD NFLX TWTR XLNX.
All our trend indicators suggest lower prices will be seen at some point next week. Ideally we get a move down to the SPX 200sma, currently at 2776. This would be the ideal buy area because sentiment would be extremely negative and it is highly unlikely we knife through the 200sma without a bounce first.
Let's see if we get it.
Onto week 22!
This Week's P&L:
This Month's P&L:
This Year's P&L:
NPP vs SPX Lifetime:
Long-term: ARKG CRSP (calls) EEM GE GLD NIO NIO (calls) QD (calls) SGMS SGMS (calls) VIPS Z (calls)
Swing: ACB (calls)
Stopped out: BIDU
AAPL ABBV AMAT AMD AMZN BABA BAC BIDU BOX C CAG CGC CPRI CRM DHI DIS EA DWDP EDU FB FSLR GILD GLUU GOOGL HUYA IBKR IQ JD JPM LEN LEVI LYFT MRVL MSFT MU NFLX NKE NVDA PRU ROKU SE SMH SPOT STNE TEUM TEVA TJX TWTR TWLO UAA UBER WDC WMT WYNN X XLNX YELP Z