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$CRWD, $NVDA, $CAVA, $AMZN, $TSLA, $META, $MU, $AAPL, $ARM, $VRT, $SRPT, $NOW, $HIMS, $GEV

Hello All,

It’s been awhile since my last post and while less is more during a bull market I have been busy managing my portfolio and doing research. Lots of thoughts but the first is this tweet by Ameet Rai over at TraderLion about a comment Ross Haber, a former O’Neil PM, made about position trading the leaders.

That’s really all you need and I while I aspire to that kind of focus, the day to day noise can be distracting. I’ve been stalking CRWD 0.00%↑ for months as I got a feel for the stock as it was building the right side of a huge base that started in 2021. I did get somewhat chopped up but I stayed positive and got my chance! The pre-earnings drop and earnings gap up on CRWD 0.00%↑ gave me the entry I needed to get into a liquid leader as it breaks out of its most powerful stage 2 phase. It’s my largest position and one I am trying my best to sit with. The theme and the group is in gear and another old favorite, PLTR 0.00%↑, is also in motion with the megacap leader in NOW 0.00%↑ setting up as well. While the pattern in CRWD 0.00%↑ isnt ideal, history shows that its never perfect. PLTR 0.00%↑ is a bit wide and loose for me but it should move higher. NOW 0.00%↑ is straight up from the bottom and needs a shakeout or tightness to setup an entry but if software is the next leading group and NOW is the largecap leader, it might not give an ideal entry and force everyone to chase it higher.

The major area I have been focused on and researching is how I misplayed NVDA 0.00%↑ and expected the small and midcaps to move and they never did. The mega caps have been leading since last year and NVDA’s breakout at $500 was a gift for my process. I did some research and adjusted my process accordingly to ensure I have a way to sit better when I’m in the leader. The process adjustment has already started paying off with catching the AMZN 0.00%↑ breakout and positioned for a intermedaite term move given its now broken out of its 2021 consolidation highs and tightening up under $200. I had positions in AAPL 0.00%↑ and TSLA 0.00%↑ but got shaken out on sizing too big too soon. You know it’s a bull market when your mistakes don’t hurt so much on the downside. Its a game of fixing mistakes, ideally before they cost you a lot, and I hope to capitalize on them as this uptrend continues.

I’m focused on sitting with what I have and looking to establish some entries in the leaders as they setup. The indexes look extended but as long as the leaders are acting well, i’m going to let it ride. The big elephant i’m hunting this week for an entry is $GEV. The energy/electrification theme has legs and others in the group appear to be setting up too. VRT 0.00%↑ looks very interesting as well.

GEV 0.00%↑’s chart and consolidation reminds me of…