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$16.6m follower assets
23rd June 2022 - Trading Journal & Market Breadth
Today's trading journal is brought to you by IBKR. I use them as my main brokerage for both investing and trading. As a European investor I have tried several different platforms and I can safely say they have the most comprehensive platform available to any EU based investor. In terms of platform power, safety and products (Stocks, Options, Futures etc.) You can check out the platform here.

Market Outlook:

According to my charts the Russell is bouncing the hardest. The $QQQ & $SPXC remain somewhat lacklustre for now. New lows have dropped however.

$QQQ Stocks Above 100 Day, 150 Day & 50 Day

$SPXC Stocks Above 100Day, 150 Day & 50 Day

$SPXC $QQQ $IWM Stocks Above Short Term 20 Day Moving Average

$SPXC $QQQ New Highs/New Lows

Pre Market Work:
I have been somewhat lax this week with a trading journal. I actually missed a planned trade on the $SPXC futures with a limit order by .25. At the time I was fine with this but yesterday I entered a similar trade much earlier than I'd usually like and I am putting it down to a touch of "I'm not missing it again". I stopped out and later entered a better long trade with very tight RR to end the day in the green. I also attempted a trade in $VIVO as biotechs are looking strong but the volume wasn't there and I stopped for a decent day trade profit. I am working with my scans and updating my watchlists but right now I am somewhat suspect of the rally. I do not see sustainable swing setups that I am happy to take so I am biding my time with a few hit and run trades here and there.

Trading Day:
Here is the basis of my trading plan today. If i get a really nice entry to the futures I will go long for a potential run to $3850. I will also see if there is any movement on my watchlists but realistically I don't believe this will be the case.

Traded $GTLB & $VIVO along with $SPXC by way of futures. Ended the day with a small profit. I should have continued both first trades as swings but I'm still so hesitant and slipping back into day trade mode. Which isn't necessarily a bad thing to be super careful but I choked my trades yesterday because I didn't want to see them even go barely red.

No positions going into Friday.

Notes & Open Trades:
  • No Positions

Please note I operate my risk with options that I can lose 100% of the premium. This is the safest way to trade them in my opinion. Even if I cut at 50% once I am setup to lose 100% within my risk threshold then I will stay ahead of my required R:R.
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IBKR really does offer an amazing swath of features to the widest possible geographic area. Impressive.
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Upcoming Earnings Calendar (Jan 31st- Feb 4th)
Hey guys!

Here's the earnings calendar for next week! Here's what I'm interested in:

  • $XOM - Insights on the global oil market.
  • $GOOG - Strength of the digital ad market + growth of YouTube (since $NFLX slowed down).
  • $FB - Comments on their strategy to monetize Whatsapp (I don't expect any, but one can hope).
  • $SPOT - They recently expanded to other markets, so maybe they can maintain accelerated growth, unlike Netflix.
  • $AMZN - AWS and Advertising segment growth + impact of the increase in 3P fees.

What are you looking forward to next week?

If you'd like an easier way to track earnings dates, you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.

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Mega week for earnings! (Nov 8-12)
Here are featured earnings we are paying attention to @ Fincredible.

The ones I'm paying close attention are:

$PYPL - Want to learn more about their plans for 'super app', integration of BNPL and if any color on rumored $PINS acqn, which is now dead (or never was there). I own some $PYPL

$PLTR - I think I'm the only non-bull on this company. I'm unsure of their technological prowess and confused by their corporate governance. I don't own and have no plans, but just curious.

$COIN - I have no exposure in crypto except via a managed investment on Titan, but I think this is a great way to continue to learn and try and get smarter

$U - I like this company a lot. I'm particularly interested in their non-gaming revenues which I think is a larger TAM. Selfishly, I'm hoping this stock falls after earnings (Sorry for the many who own it) so I can buy on the dip, but not expecting it.

$SOFI $AFRM - I view both of these innovative companies but are overpriced, and don't have as much moat as people give them credit. Yet always interested to hear about them to be proven wrong, and given my investments in $PYPL, banks, and various private fintechs

$EHTH - not Ethereum, but eHealth. Given they fired most of the management team recently, always interested in what the tone/focus of the call is.

BTW as of this week, for S&P 500 companies (plus other popular stocks) you can not only play the calls in real-time at Fincredible, but also read the transcript and monitor specific keywords in real-time. Check it out - https://app.fincredible.ai/latest-earnings

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