Cautiously bullish on the day today. Green futures and the markets somewhat due for that fabled bounce. Always wary in this bear market that the green open should flash danger for a fade later in the day. The opposite of the bull market.

No real intention to do much today, just monitor positions.

I continued looking for setups, trawling through charts for potential. I quite like a setup in $HDSN. I actually saw this name mentioned by a Twitter trader Nathan Bancroft. If you want to check him out he posts interesting charts. Hudson are a refrigeration/air condition company for commercial customers.

There are plenty of ways to draw this. Most would draw a triangle/flag shape but it's all the same really. So I like this because of the volume spikes and nice upward movement on the chart in stair step fashion. What is more to like is the drop off in volume everyday. This suggests that a move is going to occur. Supply is drying up. It's right at it's 10EMA which is usually a nice position to trade against. What is more interesting to note is the longer story. See below, when we zoom out.

As you can see we are at an important juncture on this chart's history. A break out here could lead to rapid advance. A stock like this can be very volatile so risk management is key. I will want to see this breakout before I buy and then I will keep it on a measured leash probably using the 10EMA area as my stop.

Nothing actionable for me today just trade management.

No moves today just closed the $NOG. Calls for 30%. This trade wasn't doing anything particularly wrong but with options I always want them to go quickly. So I was content to close it here and move on. The oil trades are so crowded now that I am edgy being involved.$NOC. performed fine today. Stayed in the upper section of yesterdays range for a tight day. Nothing to worry about here, just leave it do it's thing.

We are on track for an inside week on the $QQQ & $SPXC on it's own this isn't worth much but it will be the first inside week in 2022 for either index. I understand the markets are closed on Monday for Memorial Day meaning we can expect lower volume on Friday as Wall St. heads off early on their holidays. On low volume days there can be wild volatility and somewhat nonsensical type moves. Worth noting.

$NOC - 5% Stock Position - Entry $464.50 - Stop: $455.50 (Yesterdays LOD/10EMA)