HOT TAKE! I truly believe we will look back on this time period and question why we made this trading season harder than what it ACTUALLY is. What do I mean? Well for starters 99% of traders at the moment are so gung ho on these semiconductors and memory names and have forgotten all typical red flags vs go signals. Many traders have fallen in love with names that made them a ton of money earlier in the year that they are CERTAIN buying them now at a "cheaper" price will yield them the same return. What happened to the basic principals of good above the 50 SMA bad below? Why have we thrown out all basic rules and started style drifting when a certain theme isn't handing us money. Forcing a trade that simply isn't there. And I'd like to preface that I am the first to be excited on a theme that's made me a ton of money in the past. However, do not let that change the real picture in front of us. The trade is not there anymore. That also doesn't mean it won't come up again but it does mean the wind isn't behind your sails. You can't convince me that you've taken the time to look at stocks in the $IGV and are still sure $SMH is the stronger group at the moment. Software stocks are showing some insane strength and ignoring this can cost you big time. Not only because you have not been making money in this group but because your focus was elsewhere and in groups like semis that simply have been chopping you around for months. Death by a thousand cuts. $PANW $CRWD $PLTR $TEAM $CRM $ZS $FIVN $RBRK $NAVN $DDOG And there is a ton more. A lot if not most of these names are close to 52 week highs where as the names you are chasing are down 30+% from peak. I know how it feels to lose money on a stock and feel the need to make it back on the same ticker. But I can assure you this is not a winning mindset. Take it on the chin and move on. Stop being stubborn on something that does not care about how you feel. Let this weekend be the one you shift your mindset from revenge trading to being detached. That money you lost is not yours anymore so start off with a clean slate and understand you are only hurting yourself. Stay Safe!

Whether you like to admit it or not, this is topping action. Markets super choppy (including leaders), no follow through on bases that typically would have strong closes in stage two uptrends, and market theme hot potato every single day. This isn’t to say this is the end of the uptrend but it is a risk off sign. Sure, 2/10 stocks on your watchlist may break out. But will they let you get in with size? Will it stay strong for longer than 2 days, and respect moving averages? This is not the environment that allows us to push the gas and make triple or even quadruple our accounts. This isn’t the asymmetric risk we’re shooting for. Pick your spots wisely and gear up for the time the markets giving endless opportunities like it did in April. They’ll come up again. But it’s your job to preserve your capital until then.

This $SPCX whispering to anyone else?

There’s hundreds of great charts out there UnR’s 30 minute pivots HTF’s PEG’s Flat line breakouts Oops-ups Why are you still trading names under the 200 sma right now?

Wow this chart screams it wants higher. Seems to be a constant theme with these PEG's (Also a software name which we could potentially be seeing some money flow into) $DDOG

Monthy strikes again $ARM

$ARM Setting up for tomorrow (Also training arms tm so it has to work)