Trading insights 09/09/2019

Hi there!

From now on, I will publish market recaps, uncovering some logics of my trades. Most of the ideas will be from the stock market (NYSE, Nasdaq), but in case I find anything interesting on currencies or futures, I will describe that too. I intend to make updates twice a week. Let’s get started for today.

The big picture:

ES is losing momentum after showing the 3rd day of consecutive growth. It might be already the end of a swing and overnight futures are showing lack of conviction. Though we’ve seen many names breaking out on Friday on decent volumes, so I would not be surprised observing the bullish action for cyclical stocks today.



Ideas in play:


Short UPLD 

I sill hold short for UPLD from 37 and expect it to proceed moving lower to the area of 34.50. Upland Software turned into a bearish trend with readable price action. Let’s see how it works.


Long STOR:

STORE is a REIT stock which runs back to value now amid increasing tensions for cyclical and growth stocks. With an entry point of 37.75, I expect it to drive the price 1 – 1.5$ higher to the area of most recent highs. I focus the long side of my portfolio on a REIT stock since I expect the market to gravitate more to defensive assets.