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Journey to $1 Million - March 3rd, 2021

I do live trading on my Twitter and would like to post the real option trades that I am doing, and what my current watchlist is. Follow along on my journey to $1 million.


1-on-1 Private Coaching via Zoom is now available. Whether it is portfolio building and review, formulating a personalized options strategy, or the basics of how to trade - I'll make your portfolio relevant. Email me here or DM me via social media.



YouTube Video Link: Here


Another day with rising bond yields and a transition into the 'new growth' stocks and away from tech according to many talking heads. This is precisely the time to buy more tech stocks in my opinion. When there is blood in the streets, including your own, it is time to dollar cost average. When everyone is fearful, buy more. Yes, there is a transition into recovery stocks including the financial and banking industry. However, in a few months, if you stay strong now, we will be getting paid. The treasury bond yields won't always go up. We are not sure how long the current market condition will last, so I would strongly suggest not getting into any short term positions unless it is a hedge against tech or semiconductors.


Markets:

  • SPY: -1.32%

  • QQQ: -2.70%

  • DIA: -0.38%

Notable Recent Picks:

  • $TRXC: +22%

  • $PFE: +2.6%

  • $NXE: +2%

Looks like another weird day where my portfolio is up $214,000. Looks like I am doing something right. (actually it is because Webull updated the $SOXL and $TECL splits)

I'm not going to add anything to the watchlist today and until we see a couple of green days. We need to cut our smaller, shorter term positions, and dollar cost average into our longer term buy and holds. For myself, I'm considering buying more into semiconductors and tech. This is what I did last September during the dip and after a month and a half, it paid off nicely.


The real question on everyone's minds is how much longer will we suffer. The truth is, no one knows. On the $QQQ we are two days past breaking the 50MA support and it seems as if our trendlines aren't holding. The $SPY is currently testing the 50MA and pecking on the bullish SuperTrend. And my favorite, $SOXL is back down to levels first seen 10 days ago when we hit the 'low' of the dip.

To put everything into perspective, we were at all time highs on February 12th for most of these growth stocks; that is just short of 3 weeks ago. Most of the technical don't look all that horrible. Contrary to popular belief, stonks don't always go up - and these cool off periods are healthy overall.


I am still sticking to my initial strategy of:

  1. Cut short term positions until market stops bleeding.

  2. Use the capital to dollar cost average my longer term positions starting with what is down the most.

  3. Wait for bond yields to stop rising and the mini panic to pass.

This can be rather difficult if you are a new trader. Stay strong my friends, and know that we will eventually get paid.



Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.


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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.

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