Grateful For Everything, But A New Challenge Begins
Jeff Sun Trading
by Jeff Sun
8M ago
Grateful for the years of independence, I’ll be closing out this brokerage account. I’m thrilled to be embarking on my journey in the realm of fund management with acceptance of a direct closed ended investment from a global macro strategic fund into my one-person LLC. As the main PM with a minority stake going forward, I’ll continue to share my weekly diary if time and jurisdiction permits. For those keen on making their mark in the professional space, show your passion, be thoughtful and honest with your struggle. Leverage your Twitter presence to enhance visibility on LinkedIn as well, an ..read more
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Market Diary & Playbook ($BBAR, $EVLV, $MNSO, $STNE and more)
Jeff Sun Trading
by Jeff Sun
8M ago
Broader market continue to show strength as laggard sectors $XLV +3.5% $XLU +2.4% and $XLP +1.8% finally joins the bull party via breaking out from their highlighted bases. Short term breath remains bullish bias with no signs of weakness. However, there is evident rotation from leading groups, as seen with $MGK -1.0% $SMH -2.0% $WGMI -0.8% $XLC -2.4%, while $QQQ decline -0.9%, its equal weight coutnerpart $QQQE closed the week with an impressive +0.8%. The decision on whether sizing down from strength in the previous week was right or wrong remains to be seen. But one thing that is definite ..read more
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Market Diary & Playbook ($EVLV, $MNSO, $NEO, $LVS and more)
Jeff Sun Trading
by Jeff Sun
9M ago
Week of 17/7/2023 Market Diary, Friday’s selloff nullified the gains made by $RSP and $IWM in the previous two days, potentially resulting in unrealized losses for recently added stocks. However, I believe the timing of the selling arrived at an opportune moment, as it prompted us to reassess our portfolio management over the weekend and gain a fresh perspective. The upcoming week will serve as a test of our proficiency in risk control. Consider this food for thought: If you currently hold stocks in your portfolio with gains of less than 10%, a correction of less than 9% can easily erase tho ..read more
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Market Diary & Playbook ($DT, $MNDY $NAT, $YPF and more)
Jeff Sun Trading
by Jeff Sun
9M ago
Despite decline in major indexes during the week, there are encouraging signs of multi-week bases emerging in laggard sectors such as $XLE, $XLRE, and $XLF. Additionally, both $XLI and $XLK are within a 3% range of their all time high. It would be a shame not to reach those record levels, considering the remarkable resilience displayed amidst concerns of an impending recession. Thanks for reading. PS: If you enjoy the above curated article, you may follow me on twitter (@jfsrevg) to get daily market diary, trading ideas and intermittent reflection on life as a trader. Week of ..read more
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Market Diary & Playbook ($BBAR, $YPF, $LI, $CIFR and more)
Jeff Sun Trading
by Jeff Sun
9M ago
While the market concluded the week on a strong note on all front, ironically stock selection can become increasingly challenging because pullbacks always seem imminent. Opening new positions on stocks that are emerging from long-term bases in the upcoming weeks can be considered as trading on severely lagging stocks, particularly when the market continues to distance itself from its moving averages, resembling an expanded rubber band. It may be more prudent to prioritize stocks that have already clinched their YTD highs as early as May and have experienced slight pullbacks to their 10/20 mo ..read more
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Market Diary & Playbook ($STNE $NEO $ALKT $ABNB and more)
Jeff Sun Trading
by Jeff Sun
9M ago
1. $MGK +1.11% further supported index level performance as $QQQ +1.18% bounces off its trendline and rising 10-MA. 2. The broader market, though, exhibited weakness due to continued consolidation efforts, $RSP -0.41% $IWM -0.74%. Short term breath also reflected more negativity, though $MMTW (55.35%) remains above 50% bullish bias benchmark. 3. Notable group decliners are in $KBE -3.2% and $KRE -2.7%, both losing their position in 10,20 and 50-MA this week. 4. Commodities group $WEAT, $CORN, $UNG all +20% in 2 weeks, looking interesting Thanks for reading. PS: If you enjoy the above curated ..read more
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Market Diary & Playbook ($INTU $STNE $GSHD $MVST and more)
Jeff Sun Trading
by Jeff Sun
10M ago
1. A welcoming consolidation in the market after a big recent run. Remarkable that major indexes were able to close off their session lows thanks to $MGK -0.14% recovery from early weakness. $MGK was -0.9% intraday. 2. Strongest group move were in Bitcoin related ETFs, $GDLC +13.14%, $WGMI +9.74%, $BITW +7.12%, which may set them on track to continue their market leadership in 2023. $BTCUSD was up +5.19% while $GBTC +11.44% for the day. $WGMI could be the first +200% group in 2023 (currently +196%) 3. $KWEB China pullback to 50-MA and 200-MA zone. Further consolidation would present opportun ..read more
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$FFTY – Innovator IBD 50 ETF
Jeff Sun Trading
by Jeff Sun
10M ago
$FFTY – Innovator IBD 50 ETF (Weekly) The weekly price action has surpassed the 50-week MA level this week, which had not been achieved since June 2020. Moreover, there have been instances of notable increases in trading volume, indicating potential bottoming process. There is a significant support-turned-resistance level at $26 that needs to be cleared. At the same time, the 50-week MA is undergoing a transition from a declining pattern to a more flattened trajectory. Similar development is also observed in high beta $ARKK and $IPO ETF Thanks for reading. PS: If you enjoy the above curated ..read more
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Market Diary & Playbook ($PYXS, $IMGN, $MRSN, $NA and more)
Jeff Sun Trading
by Jeff Sun
10M ago
Market continued its thrust in June as all major indexes closed with sizable gains. Note that more money are rotated into value areas that has been left out of recent rally as value outperformed growth at all levels. Some significance in friday’s close that could support a sustained rally going forward, 1) $RSP +2.18% broke out of 5 months downtrend line at highest volume YTD, 2) $IWM +3.63% broke out of 4 months box range, 3) Spike up in short term breath with $MMTW crossing above 50% bullish bias threshold since 17/5. Thanks for reading. PS: If you enjoy the above curated article, you may ..read more
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Market Diary & Playbook (Cybersecurity and Argentina Equities)
Jeff Sun Trading
by Jeff Sun
10M ago
Market slipped further on the last day of May, though $QQQE closed the month on a gain of +3.17% vs $RSP -3.81% $IWM -0.82%. Correction was felt at all capitalization level of the market, but oversold defensive sectors $XLU $XLV $XLRE $XLP rebounded off their month lows, a mean reverting technical behavior. Short term breath logged its lowest level over the last 10-days. Volatility is expected for today as $AI, $CRM, $OKTA, $CRWD all lower following earnings reports, and ISM PMI is due to be released at 10am ET. Thanks for reading. PS: If you enjoy the above curated article, you may follow m ..read more
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