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Purusaxena

Nasdaq TopNotable figures such as Michael Burry and Puru Saxena have taken opposing sides on what this rally means. I enjoy how Burry made a very hedged statement... noting that at 23% it was within average but did not imply the Nasdaq's rise itself predicted the future. Puru took a more affirmative view that this was more than a bear market rally. Today's intraday price action on CME_MINI:NQ1! was a morning sell off down to support: Price counteryeeted at an Overnight low Inflection Point into a sharp rally which has been all too common in the last many trading days. But that price action showed the signs of a false breakout here after a long, extended rally. The Spike fits my rules and must be taken. With a stop above today's high the risk is fixed and a proper 3 to 1 down to a 50% Retracement of the recent move up from August 9th. CME_MINI:NQ1! .
CME_MINI:NQ1!Short
by norok
1
Money where your mouth is... ARKKI admire folks that are willing to put their trading out there for comment and criticism. It takes a lot of emotional control to trade in isolation much less when under public scrutiny. Cathie Wood was the idol of the trading world last year and widely followed for her style of exciting and parabolic investing as well as her public charisma and confidence. There was one interview in particular (I wish I could find it now but she has done many) where she acknowledged that within her trading history she has had cycles of incredible returns invariably followed by large drawdowns. She gave this interview right around the peak of her funds' performance last year. Real recognize real. That she would openly acknowledge and admit that she had self identified this pattern of her trading spoke to my own journey and likely that of all serious traders. She had acute self awareness and in some way, in that interview and comment, was warning people to be cautious with her strategy at that current moment. Now as her funds decline other traders are trying to make a name for themselves off her fall. One of which that has come to my attention is Puru Saxena. He is vocally short her funds and very bearish. That is fine for them to have a battle; no need for me to get involved. Cathie has her strategy focused on long term growth. Puru bases his strategy on macro. Neither are my game. But now it gets interesting for me as a Technical Trader. At the same time Puru is adding to his short AMEX:ARKK is sitting right at a 50% Retracement of the major trend. Over the last few days price spiked below this level only to recover quickly above it. These are my strategy. So now I get to step into this battle by putting my own capital on the line. It's a low risk/high reward trade. Not for the money but for the validation of Technical Analysis versus macro.
AMEX:ARKKLong
by norok
6