Breakouts galore on friday. These friday gap and grind squeezes have been intense. We have been seeing them very consistently on fridays the last couple months. The market is overbought on any time frame you look at but it is not extended. We are just grinding higher slowly but surely. That type of action you dont want to start shorting its how you get run over. When doing counter trend shorts you want huge speed ups and parabolic action. Currently all these stocks dip down a little bit and the buyers flood in to ramp it back up. That type of action you cant get short on. You see SMCI or NVDA at 700 you think wow this must be a short sell but it doesn’t have to be. If MARA can go from 10 dollars to 20 it is no different then nvda going from 500 to 1000. When the momo takes over and the dips are repeatedly bought you need to really let things blow out before you try a short. Even then its often better to just miss that 1-2 day short they are so hard to time.
No economic data minus some auctions on the T-Bills
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The post Day Trading Digest: Daily Stock Ideas for 2/12/2024 appeared first on Bulls on Wall Street.
