This is the start of my weekly market reviews for my trading journal. This is my digital watering hole, where I can celebrate wins and commiserate losses. It’s where I’ll work hard to figure out my new trading strategy and find opportunities in the market. I’m an old trader, definitely not a bold trader. What a week! I sold my stock holding in NVDA for a 20% profit and closed out all my AMD and COST calls. Read more...

I bought a call for COST, strike price 900 for June 21st expiration. The strategy behind buying these calls is this: earnings are due for Costco on Thursday and I expect good results. On top of that, COST has been one of my best long-term performers and I wanted to make some extra income from its strong trend. AMD closed down yesterday and NVDA managed to close up. Yesterday was a down day for the market but these two hanging tough in the face of the sell-off means the momentum is strong. Read more...

Ian Katz, a regulatory policy analyst at Capital Alpha Partners, said he was surprised by Powell’s blunt admission that the proposal could be redone. “The vice chair of supervision is supposed to drive the bus on regulatory and supervisory matters,” he said. “The truth is he drives the bus unless the chair and other members think he has gone too far off the main road.” The heads of Wall Street’s biggest banks were in attack mode when they testified before the Senate Banking Committee in December. Read more...

This is an old link from like 2017 and I dug it out for my zettelkasten. DataRobot had already been working on time-series technology, but buying Nutonian accelerates the process and doubles its addressable market, said DataRobot co-founder and CEO Jeremy Achin. He added that about 20% of DataRobot’s existing customers have time series data that they now handle manually, for the most part. That painstaking work is ripe for automation, said Achin who, before co-founding DataRobot five years ago, was director of research and modeling at Travelers Insurance (TRV). Read more...

A great Medium article from my former colleague Martin Liebig (Schmitz). In this article I would like to show how you can access and change RapidMiner variables (called Macros and are always strings). We will opt for a Groovy script. The advantage of Groovy over the other methods is, that you can access RapidMiner’s objects directly. With the other options you transfer data over into their respective data frames, transform them, and pass them back. Read more...

Now that I’m an active trader again I’m going to restart my semi-daily trading journal. I do this to keep myself sane spot where I make mistakes and learn to correct them. I’m long NVDA and it’s been a rocket to the moon. I got in around $750 and I expect it to hit $900 first before peaking out around $1,000. Traders love round numbers and I’m very wary of them because price action could fail around there. Read more...

Trade log star date March 1, 2024. Today I opened my first option trade in a long time. Yes, I own the covered call writing ETF’s QYLD and RYLD, but this was my first call option in two decades. Why did I do this? Simple, because “stonks” go up, at least in a strong bull market. There’s such a market euphoria right now that people are blindly throwing money at AMD, NVDA, and host of other shit related AI stocks that there are new all-time highs being made daily. Read more...

Is NVDA peaking? From today’s chart, it looks like it made a hammer on lower volume, so your guess is as good as any despite what CEO Jensen Haung thinks. Sure NVIDIA’s guidance is rosy and very positive, they believe that this trend will continue for the next 5 years at least! My question is, are you surprised by his sentiment? I mean everyone is upgrading the stock to crazy price targets because NVIDIA had a blowout quarter, of course, this will continue ad infinitum. Read more...

There are a few rules I follow religiously if I’m focusing on trading a short term horizon. I always sell half when I had an amazing run and let the other half run, and I always reduce risk right befor a stock’s earning call; even if the call is expected to be good. I ended up closing all my NVDA positions on Tuesday. In the case of NVDA’s earnings yesterday, all evidence was pointing to a great earnings call and they delievered. Read more...

I think the AI hype is catching up with momentum and trend traders. Everyone was (is) looking for the next best NVDA opportunity so they latched onto SMCI. Honesty, I have no idea what SMCI does but the market gossip/chatter was that it does “AI” and is into computer hardware. SMCI came across one of my “all time high after market close” scanners and I checked it out. It was doing pretty well before the “AI bros” got a hold of it and then it went price parabolic. Read more...