WHEAT support

WHEAT Futures

We have discussed Ukraine as the breadbasket of Europe on the weekly webinars and saw price move up parabolically as the Russian invasion of Ukraine has started.

Price has settled down since then and is currently at a support zone of 1034.
Break of 1034l and price could fall to 972.
Break of 972 and price could fall to DVI.
However, a move up at some point is still likely, assuming nothing changes with Russia

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EQT Corporation

EQT is a stock we have been watching recently and while we are not trading it today, it is on our watchlist for a long opportunity.

We look at the market, sector then stock and generally enter when there is some alignment. For now, we are standing aside and using caution in this market.

EQT Chart

Let’s go trade!

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Facebook beats earnings expectation

Facebook chart

We exited the trade just over 2 months ago after reporting dismal earnings. Was that a mistake?

FB has traded nearly 20% lower from where we originally exited and has been dealing below our two main MAs.

Post-market FB is at 50MA but now needs to start to deal above this level.

Unless the market is very bullish about these numbers, the gap up would but almost account for the majority of enthusiasm from yesterdays

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AUDC has been neglected

AUDC stock

We exited AUDC in November 2021 after breaking even on the trade. The move was a good one as the stocks has tumbled around 30% since that moment.

However, now price is approaching its 200-week line so it might soon start to find some support and maybe won’t continue to be so neglected.

For now, it is on our watchlist and we will wait to see what reaction price has at these levels before deciding

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Gloomy clouds for traders

MSFT trading system

If the weather was nicer here and as today is a stand aside day for us, we would be going out for some sea air.

Instead, after the sunshine from two weeks ago and the snow of last week to the rain this week, it seems we are standing aside at home.

This gloomy weather takes away the freedom and joy of being a trader. Especially after two years of confinement courtesy of COVID.


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XPEV back to IPO levels

XPEV trade

We entered Xpeng (XPEV) in December 2020 and since then the stock failed to really perform. Having held the position for just over a year, Anne and I decided it deserves the axe.

The trade was exited with the slightest of profits but the reasoning to exit had nothing to do with money and everything to do with how it was behaving.

Two months after our exit, the stock is back to its IPO levels

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Cathie is not out of the woods yet

ARKK Investments

While I may not totally agree with the logic of Cathie Wood investments, there have been lots of negative comments towards ARK and how poorly the funds have performed with drawdowns approaching 70% levels. However, looking over a 3 year period, some of the funds are still positive, just about.

Although I know over that same period, as of right now, they are all underperforming the S&P.

The markets go through cycles so what the

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Facebook May Leave the EU

Facebook daily chart

FB (META) axed yesterday by hitting our last resort stops. We no longer have any positions in this stock. However, we may look to return into the stock in the future.

The first issue is the EU US data block which may see FB leave the EU entirely. This will not affect the UK.

I wonder, if FB does leave the EU, will other mega tech companies decide on a similar course of action?


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