jaxdog

jaxdog

Boeing – This has been a frustrating name for me. It broke out in January, of which I caught some. But it has been in a range, a wide range for 6 months. I took advantage of the bad news on Tuesday, Jun 6 when it dipped and bought a starter at $202 (sometimes its better to be lucky) and added again today as it breaks above an area of resistance. However, it has...

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NYSE:NET is my biggest holding right now. I bought a starter just 3 trading days ago @ $62.90 and have added both yesterday and today for an average price of $65.59. As you can see on the volume bars below, there has been more buying than selling since earnings. I think any new entries or additions for me, need to see some consolidation. I am also a little wary...

jaxdog

NYSE:SHOP – I have been looking at Shopify since earnings and it looks to me that it is ready to buy, in fact I started a ¼ size already this morning. See chart for my notations. This may be actionable “if” it fits your trading style. It has been basing for about 14 months now. A traditional break-out would be a close over May 23rds high of 65.54. I am early and...

jaxdog

AMEX:ARKK – Maybe the best ETF to measure “Risk-On” in the market. I have been in and out of AMEX:ARKK a few times over the last 6 months. I thought it was going to start its stage 2 uptrend back in February. That was a false break-out. It is now back over its 40 Week MA, above all shorter-term Mas and has broken above an area of resistance (flat blue line). I...

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Back on April 6, 2023, I posted a NYSE:CVS chart as it was looking like a breakout then and I started a small position. It quickly failed the that day, and I was out. Fast forward to yesterday June 1 and I determined it was breaking out of the long term down trend again, so I added a starter position. It’s following through today, so I’ve added more and brought...

jaxdog

Freshworks looks to be in an inverse H&S pattern. There are many ways to draw in a neckline, I did it as simply as I can see it. I missed the break of the neckline on May 31 that had plenty of volume. It’s now moving past recent highs and I have started a ¼ size position. I like several things about this stock and the first fundamental I like is, it makes money!...

jaxdog

Tesla – one of my favorite stocks. It looks to me that there may be a change in character taking place. It broke out of its long-term downtrend on May 23rd which put it over both the downtrend line AND the 40-week MA. It then pulled back for a successful retest and posted a nice pocket pivot last Friday, May 26th. It is now up against another resistance area...

jaxdog Updated 

I posted this chart on May 3, 2023, and said that it could go either way. Looks now like the market is taking it up and out of this wedge. Earnings are past so it is safe to make a move without too much volatility, IMO. I will look to go long on this into today’s close if it holds near its daily high (40 minutes to go). I will have my stop just below today’s low. ...

jaxdog Updated 

I went long yesterday (5/31) afternoon just before the close as NASDAQ:ABNB broke over the 40 WMA with a stop below the day low. I added again this morning on its follow through. ABNB may still be actionable if it fits your trading style. I will be looking to add to my existing position once it clears the 50 DMA. See the notes on the chart for additional...

jaxdog

NASDAQ:COST Just had an earnings miss... not a bad reaction so far. This has been wedging for about a year now. Also known as a Volatility Contraction Pattern (VCP). I would guess it has to break either way soon. Ideas, not investing / trading advice.

jaxdog Updated 

I’ve taken a small position in NYSE:AI here as it seems to have put in a support level. In addition, the selling volume has declined quite a bit suggesting to me that sellers are pretty much done. If we have a pocket pivot in the next few days / weeks, I will bring it up to a full position size. I am using the support area as my stop guideline. If it fails, then...

jaxdog

NASDAQ:QQQ may be flashing a warning sign here. Rising Wedge Patterns often lead to a new down leg but not always. Looks like we have a breach to the downside on this wedge. Additionally, it looks like today’s candle is a Shooting Star. These too often are a sign of weakness. The good news is that it bounced off the 20 EMA (blue). If it loses the 20 EMA I will be...

jaxdog

AMEX:FFTY The Innovator IBD 50 ETF – This ETF is sponsored by Investor’s Business Daily (IBD) It holds high beta / high growth names mostly mid and small caps. I like it for its holdings, very similar to AMEX:ARKK except that the holdings in AMEX:FFTY rotate a little more than $ARKK. Like AMEX:ARKK , this is a good barometer of risk-on / risk-off in the...

jaxdog Updated 

On March 30, 2023, I posted (link below) my thoughts on AMEX:ARKK being a barometer for risk-on / risk-off in this market. I still hold the same view. I’ve updated this chart and it has simply continued to consolidate into a narrower range. I expect a resolution to either the upside or a breakdown. All TBD. The constructive things I see are the consolidation in...

jaxdog Updated 

First in full disclosure, I started a small position in this name today. Despite having a downgrade today, the price is improving. As noted on the chart, CVS has been in a downtrend since December of 2022. It looks to have broken out today. In addition, we have 3 short-term MA’s turning up which also makes a good stop loss area. Volume has just been so so but if...

jaxdog Updated 

$ARKK seems to be a barometer for risk-on risk-off in this market. A month ago, I was looking at the re-test of the 30 Week MA (white line) then the break back above the flat line of resistance to be a long signal. (I took the trade long only to be stopped out 3 days later.) That turned out to be a false breakout. We are now in a downward consolidation pattern...

jaxdog

Looks like the $NASDAQ may be breaking out today. See Notes on Chart. I am preparing for better than expected outcomes over the coming days / weeks. I am still about 80% cash here. Some consolidation over the next few days would be healthy. Let's see what happens. Ideas, not investing / Trading advice.

jaxdog Updated 

$SMCI Looking like it's breakout here showing massive RS in this market. I have a small starter position. Ideas, not investing / trading advice.