The S&P is up a little so far on the day, coming off of the lows of the small base it formed last week. Looking at a weekly chart, this looks like a bounce off of a retest and things could look good in the coming days — but, it being the S&P, I feel it’s more susceptible to fluctuating with the news, so we’ll have to wait and see
My current positions aren’t in the greatest position right now. FYBR pushed down a bit at the end of the week and looks to be trying to recover from that and GME pushed down this morning after appearing to maybe break out last week. I’ve got stop-losses set in both, though, so I’m not worried about them, and I’m prepared to update when/if they take off; just wanted to call out what was happening with my current positions. I’m going to look through my prior watchlist and scanners now and see if I can find some opportunities
I glanced at some charts, didn’t see anything I liked initially, took a long break to clean out and look at my emails a bit, and now I’m looking again. The first thing jumping out at me is ARR, which is a residential REIT. Price has been pushing down rather consistently since the end of March and last week it based, and ultimately broke the lows of the base by the end of the week. Today, price pushed up considerably, up to the lows of that base and then started dropping off of that level quickly. I missed the initial retest, but if this breaks the lows it made after the drop, I want to get in. I’m going to run the numbers then (probably) set an order to buy a Put if this breaks $7.92