Updated

Good time for profit taking on some stocks

I am taking profits on a lot of positions today / raising my cash position substantially. Still long names that aren't showing signs of weakness, but I am also selling into strength/de-risking for the time being.

I expect all time highs in the Nasdaq, but not in a straight line.

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Pretty incredible hardly seeing any dip off this level. I'd estimate the next level to be around 12300:

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We are back under. This is clearly a big level now.

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breaking down from this level as expected:

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This is your buy-zone, or what I like to call my shopping zone where I look for good deals:

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In my buy zone now. Ideal price is 11535 on Nasdaq. Warning: It is still high risk to go "shopping" here as we may see lower prices than my buy zone, but for many stocks the risk may be worth taking a shot here. For the best set-ups, look for stocks that display relative strength... in other words, pay attention to stocks that are no longer going down as the market drifts lower/pay attention to stocks that were beaten up in the last few weeks but are stabilizing NOW/pay attention to stocks that broke out today and are trading firmly above their breakout zone:

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Tagged the top of my buy-zone three times on the 1hr & 4hr. We need it above 11800:

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We're now at the 4th retest of the top of the buy zone range. I think it wants to go for the bottom range of my buy zone which is 11535:

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We are now at the bottom range at ~11535. I am NOT buying this - I want to see signs of a reversal (which we may not see yet):

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Signs of a reversal engaged. I went long a lot of stock 10 minutes before the market close yesterday:

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My attempt to buy the dip above failed. I am mostly in cash right now - about 80%.

Long BTC and a few single stock names (small positions).

Will no longer update this post.

Lanmar

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Lanmar