I first opened a new AAOI long position because the stock issues good earnings and is bouncing from its downtrend. The interesting point is that AAOI was in a very low Supply zone.
Note that the stop is rather low. I intend to raise the stop when possible, but cannot increase the position size unless the current position is profitable for more than one day.
I also bought a 1/2 long TNA position early in the day, because the IWM/SPY ratio was below the bottom of its envelope and because the MF started to turn positive.
However, when a negative MF divergence appeared, I set a mental stop at the entry price and finally closed the position when the reversal was going to reach the entry price.
Even though TNA bounced later in the day, I do not regret having sold the position because of general market weakness. I might reenter the position today.
Finally, I sold the VIAV long position when the price fell below the most recent support on a negative EV pattern. We can also see that the Lower Boundary was broken, indicating that a new low is probably in the cards for this stock.
The portfolio is now slightly long, even though we have a 20% short position and a 10% long position. The 10% long position is however much more volatile. Hence, the Drawdown risk is more related to the AAOI position than the SDS position.
The list of trade ideas for today is rather long.