I’m sad. I’m … often sad. It’s a little worse today, but it’s not because of trading, so hopefully it doesn’t affect my performance too much. I should meditate, but I don’t want to get “caught” or distracted and I’m not sure I have the time. I’m just going to “power through”
Starting with my current position, it’s sitting down a little right now, but has been pushing off of the lows for the most part this morning. No reason to panic or do anything with this right now, so I’ll continue to hold. Maybe I should explore taking profits when the underlying hits it’s target, rather than trying to follow along with a trail stop. The potential for profit is higher with a trail stop (if done right — I’m also having trouble with options exits, I seem to be getting filled at much lower prices than I want; which I imagine is because there’s fewer people trading each individual option, so my limit order gets filled. I should also explore an actual trailing stop rather than a trailing limit order. Hopefully I get to explore both of those soon).
Alright, I’m done glancing through stocks on my watchlist. I’m down to the $58+ stocks anyway, so that’s fine (at least I’m making it fine). Between today and yesterday, I now have roughly 10 stocks to analyze and see if there’s any place I want to put some money.
PLUG is at the top of the list (literally, not my favorite or anything). It had a breakout yesterday, with a nice push up, but toward the end of the day, and now this morning, price has pulled back a bit. Looking at the 1h chart, it hasn’t fully pulled back to prior-resistance-support, but it got close, and there’s still a chance it does. I think I’m going to run the numbers to see if they work on a breakout of the last hour’s highs
I keep looking at MTTR (Matterport, though I should hate them lol) and it’s intriguing me. There was a nice-big breakout yesterday, with a gap down and push to support today. The thing giving me pause, though, is that on the hourly chart, the up-move looks crazy extended, but things look nice and smooth on the 4h chart. I think this is a prime candidate for my practice account, so I’ll do that after I take a trade in my real account
PRPL — Purple Mattresses — Which I mainly looked at because it’d be a short and I don’t love my pillow, has some characteristics that make me want to take this short. Price has been dropping since last March, there was a bit of a rally throughout this month, but as of the last few days, price seemingly is pushing back down. It hit some support from the rally and had a bit of another up move from there, but looking at the hourly chart, price pushed above the upper band and ultimately closed below it. All signs pointing toward more weakness. I think I’ll run numbers here too and see if I can get in anywhere