Aug 18 – Aug 22, 2025
Nick SchmidtAugust 23, 2025SPY+0.29%QQQ-0.93%
Started the week selling HOOD and ended it holding five names on margin. The market looked shaky on the surface but underneath the surface the leaders were acting well, and every bounce at a key level gave me a chance to add with tight risk.
NVDA bounced hard at the 10-week with a hammer candle, RKLB shook through the 10-week and snapped back with a weekly pocket pivot, and UBER kept showing A+ relative strength while everything else was getting sold. Jackson Hole was the event everyone was waiting for and the market responded with a strong Friday close across the board.
TSLA remains the number one focus. It's been contracting for months and looks picture perfect. The failed breakout attempt still closed above the prior week's close which is a first sign that buyers are stepping back in.
Sold HOOD Monday. Added NVDA, RKLB, and UBER during the week. META is the laggard, may rotate out.
Rest and chop day on the surface but leaders acted well underneath. Sold HOOD for a 1% loss after it lost the $110 pivot. Didn't want to hold it on a retest of the 10-week with a high cost average, even though structurally nothing was wrong with it.
Big declines across leaders but the RS names stood out. TSLA and UBER showing A+ relative strength while the rest of the market was getting hit. When we see weakness whether it's a week, a day, or a morning, that's when RS really stands out and tells you where the money wants to go.
Key bounces at critical levels across the board. NVDA respected the 10-week and formed a strong hammer candle. Tried with tight stops against the week's low, either it works and I have a great entry or it doesn't and I'm out right away. Great close overall.
Choppy morning with no direction ahead of Jackson Hole. Nobody wanted to commit before Friday's event. Despite no direction we held the prior day's lows which was the important thing. NVDA and RKLB as the newest buys were showing the best immediate feedback.
Jackson Hole day and the market responded with a strong close across the board. TSLA's setup looks picture perfect after the week's action, it's been contracting for months and the failed breakout still closed above the prior week's close. RKLB closed with a weekly pocket pivot on volume which is very promising.
I think most people associate buying breakouts with direct feedback, but when you buy weakness properly and it bounces you get that direct feedback as well. NVDA bouncing off the 10-week gave me immediate confirmation that the level was real. Less stress because you know right away if it's working or not, and if it doesn't you're out with a tiny loss.
An important part of being able to sit tight is buying early in a cycle. The further a market rallies without a correction the harder it gets to hold because you're buying extended and every pullback threatens your position. By buying weakness or quiet bases early, you build cushion that lets you sit through the noise later.
RKLB shook through the 10-week and I bought it there with tight stops. It ended up closing the week with a weekly pocket pivot on volume. That type of shakeout scares people out but if you're watching for it and have a plan, it can give you the best entry of the entire base because everyone else just got flushed.