Newsletter 08/27/2024

_{Quote of the day:} "The greater the obstacle, the more glory in overcoming it." — Molière

SPY LEVELS: This is my trades yesterday on spy - this is probably the biggest edge leak i have given so here you go:

Dark blue is short and light blue are covers.. initial light blue was immediate cover because I was in way way too heavy. I am not in the business of guessing tops and covering bottoms…. You can take the SPY levels from yesterday, overlay them to this chart and you will see it aligns with my trades. SPY MMs came hunting for my stop loss and then sold it down but i’m fine with it… We hit all targets except for reach… reach is just gravy. Now as far as entries…. we made that small double top right off open and sold off right through no interest zone so my bias was down. I added a ½ position (post scaling out from being in too heavy) and was looking for a rejection of the no interest zone AFTER hitting below target 1… Now we ended up hitting t1 and bouncing right back up which made me more cautious…. Hindsight the trade was to scale in around 10:24 am rejection but just didn’t feel like what i was looking for and when I am in a trade I am trying to visualize it so when it happens I am adding confidence. I am a discretionary trader meaning I AM THE EDGE, the risk manager, the algo etc. I am putting together a puzzle using setups, levels etc but at the end of the day I am the *discretion* But when the computing system (me) is not seeing what I was expecting 100% to a T that is when I am more cautious…. Again my bias was still down, setups levels etc hence why I was in ½ and let the overall trade plan work.. But I hope you see I have a trade plan in a trade plan and I am constantly reviewing my thesis, position etc…

No interest zone: 558.39 - 559.83

Above Targets: First target is 560.5 second target is 561.37. third target is 562 Reach Target is 563.18

Below Targets: First target is 557.89 second target is 557.09. third target is 555.78 Reach Target is 555

GOOD LUCK AND BE SAFE

H.H

_{“Hazard Zet Forward”}

_{PLEASE READ: I am doing this because I love the community and enjoy talking about stocks. I have a right to talk about stocks and I’m going to do just that. Nothing is advice. I am not a financial advisor. This is not advice (seriously, i mean it). I am not a pro. I could be buying or selling any ticker mentioned at any time. One more time - I could be buying or selling any ticker mentioned at any time. I will do what I want and I want you to do what YOU want. Any money made / lost is the result of your personal decision - “Daily Newsletter” “Hugh henne” “Mitch Hennessey” or anyone / anything connected to any of those are not liable.}