💼 Inside the Portfolio: Updates from our Swing Trading Desk

09 Oct2024 - Insights, adjustments, and forecasts about our latest swing trades 💹

Today the market continues its upward trajectory, our portfolio has been particularly active, with numerous turnarounds and adjustments in our positions. Here's a summary of the recent developments:

This morning, BA (The Boeing Company, NYSE) experienced a significant gap down after a promising bounce, resulting in our position being stopped out at breakeven. This outcome underscores the importance of maintaining a disciplined approach to stop-loss strategies, even amidst volatile market conditions.

SOWG (Sow Good Inc., Nasdaq) broke below the 10 level, triggering our stop for a minor loss. The low trading volume has made managing this position challenging. Although the stock has returned to the 10 level, we have decided to stay out for now and will reevaluate our strategy in the coming days or weeks.

LUNR (Intuitive Machines, Inc., Nasdaq) was stopped out yesterday just before the closing bell, marking a false breakout and resulting in a loss. This trade did not go as planned, highlighting the unpredictable nature of market movements.

On a more positive note, we sold one-third of our position in CART (Maplebear Inc., NYSE) for a substantial profit, achieving nearly a 3-to-1 risk/reward ratio. We are considering adding to this position on a potential pullback, as the stock continues to show strong momentum.

Additionally, we increased our position in HOOD (Robinhood Markets, Inc., Nasdaq) by one-third during this morning's dip, and have raised our stop to today's low. This strategic move reflects our confidence in the stock's potential for recovery and growth.

Added just one position today, a tiny pilot position.