From the Desk of Kimmy Sokoloff
The market took a breather today. $SPY hit 400 and backed off again.
We broke below the 200-day moving average and the eight-day moving average at 393.10.
Here are today’s trades:
- I bought $LULU at 324.95 and sold at 326.40.
- I shorted $HES at 154.88 and covered at 154.
- I bought $MRNA at 205.95 and sold at 206.98.
- I shorted $KLAC at 426.49 and covered at 425.21.
- I shorted $KLAC at 424.06 and covered at 423.06.
I booked one loser:
- I bought $GOOGL at 92.64 and sold at 91.21.
I have an open long position in $SHOP and open short positions in $NKE, $GE, and $MS.
Time will tell if this is just a healthy contraction or something more than that.
Look for the Morning Briefing on Thursday.
And please reach out with any questions.
All Star Charts Team