8:45 Morning Meeting Notes
Risk Monitor GREEN/IBD GREEN [Market Rally]
armrSPY Swing GREEN [RSP GREEN]
armrQQQ Swing GREEN [QQQE GREEN]
Risk Monitor [Market] commentary: Shifting assets a bit to focus on indexes & getting ready for the next leg up
The start to the year is in line with expectations after a big Q4
Weakness down to the key locations of either the 25 or 50 day ema is the reasonable range for a correction
A break below Stops on a weekly basis would require a rethink
However, for now the probabilities favor a shakeout & not the end of the rally or start of something more nefarious
We raised cash on 12/28 & continued thru yesterday but at the same time began increasing our SPY QQQ exposure
Biotech/Pharma continues to be a beacon of strength
Energy is showing signs of a perfect reward vs risk entry point
And for the 1st time in many moons, we are Long Cannabis!?!?!?
Highlighted Action: Time to look at Cannabis stocks once again for the following reasons…
Let’s start with basic technical analysis…A beautiful bottoming wedge is forming and a close above $7.40ish on a weekly basis would suggest higher prices are in the offing
The wedge is breaking the 3rd of the Fibonacci Fan downtrend lines from the 2021 highs that suggests a trend change is beginning
Notice the volume beginning to build [yellow highlight] suggesting serious accumulation since August 2023
Buying stocks in January that got beat up in the previous year takes advantage of the bounce back bias that tax loss selling creates.
armrAlgo for MSOS is telling us the reward vs risk is optimal now for an investment & is giving the follow on buy trigger from the original 11/2/23 entry @ $5.61
MSOS was HALTED! yesterday simply because of the headline “they are still discussing rescheduling”
Can you imagine with me now what happens to MSOS when they actually announce the reschedule?
How about this pipe dream [pun intended]…DEA recommends DEscheduleing!?!?!
This investment opportunity represents the ultimate in asymmetrical reward vs risk moment.
ARMR Portfolios: Managing Risk & getting Ready for Next leg up
ARMR Macro:
Reduced UWM
Increased SSO QLD
ARMR Special:
Added SPXL TQQQ ERX MSOS
Stop Adjust
UWM 35.39
COIN 150.72
LABU 109.86
ARMR Research: We began adding some energy positions in December and yesterday added a bit more. The reward vs risk set up and perfect and for us the focus will be Group ETFs. 1st addition was XOP [USA E&P] & now we add 2X ETF ERX to capture the larger worldwide players. Eyes on the service sector as well with OIH waiting in the wings. Add all this to our AMLP Long term holdings [collecting 8.8% for over a year now] and we have the foundation for an energy resurgence.
DISCLAIMER: All of ARMRreport, our trades, strategies, and news coverage are based on our opinions alone and are only for educational purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. I am only sharing my biased opinion based off of speculation and personal experience. An individual trader’s/investor’s results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the stock market and that one can lose all of their investment. Thus, trades/investments should not be based on the opinions of others but by your own research and due diligence.
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