Author: stonkgang

Owner of Stock Gang. A full time swing trader and financial independence author.

12th September 2023

A strong move in the indexes yesterday thanks to mainly $TSLA $META and $AMZN. Overall the breadth remains low and follow through on breakouts is still few and far between. $IWM (small caps) are now underperforming SPY by the largest margin in 22 years. This is certainly something to take note of and makes sense given the current rate environment. I’d like to see small caps participate in order to gain a better sense of

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The Coin Flip

It’s no secret that most traders fail to turn a profit. Rather than bore you with stats I’m going to explain in simple turns why this is the case. Since launching the discord a few years ago and throughout my trading Journey I’ve had the luxury to speak with and watch many traders from the outside. As the odds would have it, most end up failing and throwing in the towel within their first 12-24

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Watchlist 9th August

The markets witnessed a nice bounce yesterday yet the majority remain below their moving averages. Once again the Energy markets $XLE $UNG and $URA showed incredible strength. With powerful reclaims followed by gap ups. Today the Swedish government announced the following: The Swedish government wants to invest heavily in nuclear power in Sweden, says Environment Minister Romina Pourmokhtari (L) at a press conference. This is to achieve a doubling of electricity production by 2045. Just

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August 8th 2023

Apple continues its aggressive pullback as it attempts its 6th red consecutive day and 9% drawdown from highs. Microsoft is now below the 50ema with the 8 pushing through and a potential downtrend trying to develop. Tesla is dancing with the 50ema which it managed to hold onto yesterday. Google and Amazon showing relative strength. Industrials, consumer staples and banks were noticeably strong yesterday whilst biotech continues to get the heavy end of the stick.

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7th August 2023

The majority of sectors are now below their key momentum averages (8 & 17 ema). XLE (Oil & Gas), KWEB (China) and URA (uranium) are the sectors showing relative strength, with financials and regional banking holding on close behind. The market is giving us signs it needs to rest which isn’t surprising given the moves Year to Date. In terms of individual setups to the long side, they are few and far between. For the

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