Trading Room Summary - August 26th

From macro-moving news to actionable sector rotation & trade reviews.

» CLUB/EDGE client post AUGUST 26th, 9:04 PM ET.

I am posting these summaries here moving forward as new folks didn't see them buried with Mikey & Rithika's reviews under #trading-room-notes.

Morning was boring as we await NVDA earnings Wednesday after the close.

Except for that PDD short!

It opened below the 100W and I said that was the "kiss of death", so just needed to stay below $110 then break 106 to move into 99 then 94 price targets. It made it all the way to 95.86 in one day!!

My growth:value rotation was a super tell that we would have outperformance in IWM.
Russell 2000 was lit, again - congrats client Mike - but price target of $222 served as heady resistance intraday. Bullish above, Bearish below.

Gold and Silver and Miners continue to be great trend and swing longs. Nothing more to say about that. Just be careful as we approach my DXY 100.20 for a USD bounce which will hit commodities - for a trade.

Defensive sectors of XLP, XLV, XLU recommended since early May continue to be boring but profitable continuation plays for my RSP:SPY rotation.

Client Anna asked about NEE which looks great above a wkly close of 76.88.

"Warm Summer Housing Market" plays of RKT, XHB, TPH, RDFN rec'd in March/May/July continue to rise strongly as the 10Y yield falls back to August 5th lows.

MDT was a strong swing long fave on breakout two weeks ago that continues. Now ABT looks like it is tired of staying depressed while its peers push strongly higher. Alex of #kentons-corner-of-biopharma will do a review on this given the legal issues it faces holding down its performance.

ZM hit $72 PT from last week as ROKU almost hit $71. Software has been rising up from the dead - see PYPL Swing Long last month - while semis have softened and MAG7 has digested.

TECK needs to clear $50 wkly trendline resistance just like UBER + MRVL have tried to do.

I also did my Intermarket Review this weekend and put that together for a thorough review tomorrow.

See you in the trading room Tuesday!!

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