Jake Parente 🎸

This will be me not too long from now.

$USO is breaking down from the 3 Day Divergence I pointed out on Oct 1. It broke the rising channel line with big daily volume on a 8% down move. This could be the start of a relief in oil and fuel prices for the time being. This could also be a much needed relief on inflation globally and rising U.S Treasury yields. The big win by democrats yesterday in the Midterm Elections was definitely a major contributor to the price action in USOIL.

I'm Glad I sold $FTNT a couple of weeks ago for a profit. I would be down real bad if I was still holding 💎🙌. Down an incredible -25% in pre-market! #StockMarket #Bears

$IWM is close to having it's 3 Day MACD crossover on a bullish hidden divergence. Just like $RSP has done recently. This is a potentially healthy sign that breadth is improving and small caps have alot of catching up to do to the rest of the market. The disappointing performance of AI stocks in Memory and Semiconductors more recently is another developing story unfolding which has to get into gear and start to turn around soon, playing a key role for the 'AI Theme' of this business cycle.

solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn update: From my previous post, solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn was breaking out of an important resistance area on the Weekly. Now it has come back to that resistance level and rested on it as support. The pullback has low selling volume which is a good sign compared to the prior 3 weeks of increasing buying volume. On the Daily however, it is painting a slightly different view, with a MACD bearish divergence. Not all divergences are treated equal and especially if it's on a lower timeframe such as the daily. The weekly is a more important timeframe as it holds more weight to the length of time and wider view of the bigger players accumulating this coin. I choose the weekly bias over the daily every time. So currently waiting on the daily volume to pick up and get above the prior two bearish volume bars for me to take an interest in buying. The daily MACD is a lagging indicator so if it turns back bullish then that is treated as added confirmation. Lastly it is important that the king bitcoin:native leads the charge upwards and shows strength, otherwise it will drag all the #Altcoins with it. #Crypto #Altcoins

Trade update on $SNDK: I have closed out position for a small loss as it violated the 10 day MA from entry. After reading many books on investing, especially the greatest growth stock investing book "How to Make Money in Stocks" By William J O'Neil, it stresses the importance of cutting losses short (Maximum 7-8%) and even cutting the loss before price hits your stop, as you have made an incorrect judgement on the timing of the trade. Here is a good example of that, and I will continue to follow the critically important rule moving forward in my trading/investing journey. Good news is I'm still in the other four stocks I entered on this day. $MRVL, $ANET, $FTNT & $KEYS. All stops have been raised to breakeven. Letting these winners run until my rules say to get out. #Stocks #Stockmarket #Investing #IBD

This chart by @McClellanOsc is making me bullish on $SPY until end of 2027. As he displayed the Margin debt cycle every 7 or so years which lines up with the 18.6 year real estate cycle and also my time counts from major bottoms and tops going back to the year 2000 as pictured below. #Stocks #Stockmarket #Bullish

$IWM is setup to absolutely explode! Price is sitting at the 200 Day MA whilst a Bullish 3 Day Hidden Divergence is playing out from the dead low we had in March. #Stocks #Stockmarket #Bullish 🚀🚀🚀

$USO is trading inside a rising channel and looks to be displaying a 3D MACD bearish divergence. We need this sucker to break down so it can take some pressure off rising Treasury Yields and contain inflation.

solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn is breaking out into new local highs. Haven't entered on this one yet. Too extended currently.

solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn is primed for a big move from this massive cup with handle pattern. Would be good to see a good daily volume breakout above Vol 50MA and this will be a solid hold going forward. #Crypto #Altcoins #Solana #Memecoins

Dead on 100%. @TraderLion @OliverKell_ Oliver Kell's #1 Breadth Indicator For Trading 📈 youtube.com/shorts/OFVCtvlgI… via @YouTube

Just patiently waiting for a follow through day on the $QQQ. If we get it in the next session, it’ll be hard not to get bullish. Despite poor market breath, leaders lead before metrics turn bullish. I’m doing well on my current portfolio, will add more to the stocks if they continue their charge upwards. #Stockmarket #Stocks #Bullish

“human nature is pretty much the same now as it was in 1929 or 1636. What you must understand, though, is that highly successful investing has nothing to do with your emotions or personal opinions. The stock market doesn't care who we as individuals are, what we think, or how we feel. It's a beast like no other: indifferent to human desires, oblivious to common wisdom, maddeningly contrary, and seemingly bent on confounding the majority at every turn. The only law it obeys is the law of supply and demand. And until you, as an investor, come to grips with this reality and learn to move with the market rather than against it, you'll be plagued by results that are mediocre at best.” - The Successful Investor by William J O’Neil.