As long as the market stays non-directional, it is difficult to take advantage of the next trend.
The Portfolio has been following the S&P500 for the past two months. Let's hope that this can soon change.
Yesterday, I took a 1/2 short trade in HPQ. I did not build on that trade as I noted large players buying weakness.
On the other hand, I struggled with QRVO. QRVO was weak early in the day and since it is a "strong" stock, I expected it to bounce back up, but to the contrary, at one point it lost 3%, and did not bounce back up until the end of the day. I decided to sell the position at that time, because:
1. The LEV pattern was not strong during the bounce.
2. Red bars that fall below the low of the previous day have a tendency to attract more selling.
The TREX long idea was weaker yesterday, but the LEV pattern is still good.
For today, I have pointed out mainly short ideas, but I might refrain from entering any of these, depending on the 20DMF.