A simple 10-DMA sell rule can hold your winners
Portfolio Update (A simple 10-DMA sell rule can hold your winners beyond 72 calendar days, you need to earn your next trade)
$Palantir Technologies Inc.(PLTR)$ via $Direxion Daily PLTR Bull 2X Shares(PLTU)$ , and $SPDR S&P 500 ETF Trust(SPY)$ via $Direxion Daily S&P 500 Bull 3x Shares(SPXL)$ are both exceeding +70% gain. Gold futures position is closed on small win from T+3 and opened $Direxion Daily AAPL Bear 1X Shares(AAPD)$ as I am looking to build into short bias positions as shared last week. Suffered some unrealized profit loss from market weakness (also ex-div event from $iShares Global Clean Energy ETF(ICLN)$ ).
The current play in market is 5 x ATR% from 50-MA extension of $Invesco QQQ(QQQ)$ bearish rising wedge breakdown, with further rejection of reclaim into apex of the triangle from yesterday. A follow through downward move may see some of my positions (eg. $Direxion Daily S&P 500 Bull 3x Shares(SPXL)$ $Industrial Select Sector SPDR Fund(XLI)$ $iShares Global Clean Energy ETF(ICLN)$) closed if 30min opening range low were to break in those positions. Worth to focus on weakest main index $Dow Jones(.DJI)$ (via $ProShares UltraPro Short Dow30(SDOW)$ ) and $iShares Russell 2000 ETF(IWM)$ (via $Direxion Daily Small Cap Bear 3X Shares(TZA)$ ). There is nothing compelling for long at the moment imho, but $SUPER MICRO COMPUTER INC(SMCI)$ $UnitedHealth(UNH)$ higher low build up surrounding its rising 10/20-MA will be watchlisted. $Hims & Hers Health Inc.(HIMS)$ is interesting but need more time than the other two.
You know you don’t need to trade every day, but it’s just as important to realize you don’t need to trade every week either. A simple non-discretionary 10-DMA sell rule have proven here to be capable of holding winners for up to 72 calendar days, also significantly reducing trading turnover, FOMO, as capital remains tied up. Think about selling strength as a reward to yourself to release some capital for your next trade.
You need to earn your next trade.
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