Power Plays Update:
Close AMZN, DASH, ETHE
Trim NVDA
June 17, 2025
By Scott Redler
The market is feeling more vulnerable so I want to do some aggressive clean-up in Power Plays.
In Friday's roundup, I identified SPY $597-$598, QQQ $526-$527, and IWM $208-$210 as key ranges that need to hold.
And it looks like these levels will be broken as the Israel-Iran conflict continues to heat up. There is also potential for a large sell imbalance on the close today, and of course the Fed could disrupt the action tomorrow.
So I'm taking these actions for Power Plays:
- Close the entire IONQ Position
- Close our remainders in AMZN, ETHE, and DASH
- Trim 1/3 of NVDA (leaving 1/3)
We'll lock in gains in AMZN, DASH, and NVDA, while IONQ and ETHE go in the loss column.
Yes, I know we just added IONQ yesterday, but the quantum names in particular are looking vulnerable. So there's no sense sitting in it. The position is not working, so I'm moving on. There's no room for ego in trading.
You can see in my positions disclosure below that I am very light, having closed out over a dozen positions this morning and afternoon.
If and when the markets stabilize, we'll look to reload longs. AMZN, DASH, and Bitcoin are all on the radar but I'll be patient.
-Scott
Scott Redler Positions Disclosure as of 2025-06-17 at 2.03.07 PM
These are not Power Plays ideas.