Me and Steve Strazza are currently aboard an airplane to Singapore for the beginning of our 21-day trip throughout Southeast Asia.

We're headed there to meet traders, chartists, and locals to learn how others approach risk.

And one thing that is on my mind is: "Where are we going to stay?"

This feels right as today's trade of the day often answers this question for many travelers.

If it can't rally in this market, what happens if the market pauses or pulls back?

I was looking for a good short exposure candidate to balance out my portfolio a little bit and I came across this bearish idea the team published this week that makes a lot of sense for a quick hit if we get it right.

[11/16: stop updated to 32]

If it ain't broke, don't fix it.

We've been witness to many charts, that look like today's setup, breaking out and turning into big winners in recent months. And with very few signs of this current bull market running out of steam, we think there will be many more repeats of these profitable patterns in the weeks and months ahead.

And cheap options premiums continue to make it advantageous to play these moves simply with long calls.

Strazza has been pounding the table on DraftKings for a couple weeks now and today's trading action has me convinced that the time is right to get involved.

First, the chart:

“What are you afraid of?”

JC posed this question to me yesterday on the Morning Show.

For context, he was asking me about our upcoming 21-day trip to 8 cities in Southeast Asia.

I might have surprised myself when I quickly and confidently answered: “Nothing.”

And I meant it.

I’ve actually been thinking a lot about this topic lately.

“Fear” is such a powerful and loaded word. It toys with our emotions. While often protecting and keeping us safe, our fear-stoked emotions also can trigger us into making poor – and sometimes awful – decisions.

All our best-laid plans go out the window when fear takes over.

Franklin D. Roosevelt, the 32nd President of the United States said it best: “The only thing we have to fear is fear itself.”

This is doubly true for traders. We need to do everything in our power to keep our positions or portfolios structured so that nothing can scare us. Because when we’re scared we lose all sense of control. We lose rationality. We lose perspective. And then we either rush prematurely for the exits or worse, double down on our mistakes.

We need to fear “Fear.”

While the bull market in U.S. Stocks continues to be discovered by all the latecomers here in the States, the strength in International stocks continues unabated. Some of the strongest moves have been happening beyond our shores.

Today's trade leverages cheap options volatility for an attempted run back towards all-time highs and beyond.

Big cap tech has gotten all the attention in this current bull market rally, and deservedly so. There have been some truly massive gains there.

But as we know from history, the lifeblood of sustained bull markets is sector rotation. And we're seeing smaller caps begin to play catch up to their big brothers.

Today's trade is in a software name that has quietly been rallying since getting wrecked after a disappointing earnings report last November.

But with a bullish reversal pattern off those November lows, we feel the time is right for this quiet rally to get loud.

All Star Charts is excited to announce a thrilling collaboration with the Chartered Market Technicians Association and Centerpoint Securities. Together, we aim to discover the finest trading talents in Southeast Asia.

In the company of my esteemed All Star Charts partner, Steve Strazza, I am thrilled to embark on a remarkable journey spanning eight cities across seven countries over the course of 21 exhilarating days this July.

During our travels, Steve and I will have the privilege of sharing the stage with numerous local experts. Together, we will deliver captivating presentations on the art of technical analysis and delve into the intricate realm of the trader mindset. These enlightening sessions will take place in a diverse range of venues, providing a unique opportunity to explore the fascinating world of domestic stock and futures markets through the lenses of traders from various backgrounds and perspectives. Needless to say, we cannot contain our enthusiasm for this incredible experience!

But that’s not all!

That company is still a thing? I thought the iPhone killed it? ~ JC during The Morning Show on 6/15/23

Yep. Today's trade is a play on a stock in a company we were all kind of surprised still exists, and even more surprising that is doing well!

Upon further digging, we learned the company has handled the pivot away from online maps for car drivers into things like GPS for boats, golfers, and wearables!

I recently read a book that was recommended to me by a friend in my traders meetup group.

Once I picked it up, I couldn’t put it down.

Here are some of my favorite quotes I continue to meditate on. I think you will also go down rabbit holes while pondering them…

We may have stumbled upon an underpriced opportunity, one that must be off the radar of most traders because it's practically jumping off the screen at us.

It's an international banking name with speculative exposure to China, yet the DNA of old-money British aristocrats.

And we're breaking out today!

Here's a recent chart of HSBC Holdings PLC $HSBC:

What you don't see on this chart is $HSBC breaking out above that resistance level today. As I type this, the stock traded as high as $39.14.

Congratulations to the 2023 NBA Champion Denver Nuggets!

I’m a total bandwagoner, having never watched a Nuggets game in the eleven years I’ve now lived in Colorado. My first Nuggets watch was the first playoff game this year. And I watched every game the rest of the way.

My timing was pretty good.

What has stood out the most to me in the interviews and press I saw and read last night and this morning following the Nuggets win is how their journey to the top required tremendous patience and a focus on their edge.

And more patience. More sharpening of the edge. And then a little more of both after that.

The Nuggets organization knew they were building a winner. But it would take time. Time for the stars to develop. Time for injuries to heal. Time for missing pieces to be added. And time for the stars to align.