$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ The overall trend structure in the market is still bullish. For SPX, NDX, $iShares Semiconductor ETF(SOXX)$ , pretty much everything. Don't interpret the last couple weeks of weakness as a reason to say we're going to see a larger pullback. I never thought SPX would go beyond 5% lower. And it hasn't. That's why I remind myself to let go of biases and maintain flexibility. If I don't get the dip I want, so be it. The market moves on. The key is just making profits and adjusting accordingly.
$SpaceX(SPCX)$ It dropped $1.50 and the bashers are acting like the sky is falling, the world is ending… Pathetic. I'm buying with both hands down to my last penny.
$Applied Optoelectronics(AAOI)$ Down over 40% from the highs and testing support. I'm watching the $121 to $134 key zone closely for a potential bottom. If this area holds, I'm looking for a move back toward $280.
Trading up heavily before earnings usually leads to a sell-off and profit-taking afterward. This time, it sold off sharply out of fear and algos hitting stop losses, allowing buying in at a cheaper price. When $Micron Technology(MU)$ delivers what could be one of the best earnings calls and guidance in stock market history, there should be a flood of buying, as the discount has already been provided over the last two days. It's not trading like a typical pre-earnings setup, which gives me more confidence in buying pressure after the call, not selling pressure. We'll see. Either way, what a ride this stock is!