JSC Scan 8/30/21

IWM- nearly a 5% move this week, that is huge when looking at the macro and think it propelled many of these small cap names, I use the Russel 2000 as a sentiment of what is happening in small caps. Want to see how IWM holds vs 224-25 for Monday. Last week when Russel was getting hammered Mon-Thurs we didn’t have nearly as much follow through on the small cap side of things.

SPY- all time highs

QQQ- all time highs

Small Caps

GAMB- really nice trade on Friday, what I would like to see here is weak open and profit taking in the morning and looking 11.50-12 for a potential bounce trade, If it wants to stay heavy or consolidate for a couple days, I will leave it alone, no time to waste in this market if your scanners are ready, think people are ready to chase so If you can be in early before the herd thinking you are in a good position in terms of r/r.

BBIG- big breakout intraday and continuation after hours, this broke through that 6 resistance where it rejected mid-June and thinking we have a nice trend here early in the day, would use post market levels as a guide/ Friday close. I am looking 6.30-6.70 area to join this early in the day with aggressive stops set on after hours low or friday close. No bias. If Gaps up huge and para speed up I’ll wait until it settles, I am not interested in stepping front of anything until market momentum slows down and really, rolls over

SPRT- like the failed follow through at the end of day, I am sure borrows will be expensive again but looking vs 34-37 area for a short trade, would like to see it red in the morning bounce and then slow fade, don’t forget this stock was 7-8 bucks a week ago

PXLW- another continuation here, this one has some multi year resistance in front of it so a gap up to 8.40-9 area would be ideal for a short, if it wants to go slow, red to green off a week open, I’ll wait patiently until some backside is in

NURO- nice grind up intraday and some follow through after hours, gaping to 18s, would love to see a push to 20-22 for a nice fade

DATS- will see reaction vs 7.50-7.60 if no gap up, once again these smaller cap ipos have been extremely hot, $FLGC ignited the group and now once they break the IPO high print (top of range when it started trading) they have had immense follow through, if weak open is absorbed I’ll be there

MMAT- will see if 4.10 area holds for potential r//g move and follow through

RIG- will be watching as oil names been strong vs 3.30 area

BTBT – ideally a push to 14 for a fade, i’d rather short a name that has had several days of failed follow through and is retesting resistance vs a recent IPO that is new all time highs with no resistance

GEVO- ideally can retest the 8 area (150day sma) for a short play

HUT- mining company that has been steadily building higher lows, looking vs  7.30 for a potential buy

NAOV- if 3.20s can start to build a base I am interested in the long, this is holding better than expected now

SDC- many of these types ( coming of the bottom) have been working well in this market, DNUT was a really nice one- will be looking vs 4.80-4.90 for a buy

BITF- will be watching with Bitcoin

CAN- also watching with BTC vs 9.30s

BTU- continued follow through more just watching this one , grind up puts in reset day and continues

LEDS- it is so weak with very little volume , looking for a volume day and a build over 9

BIG CAPS

DKS- beautiful move and trader this week after posting e/r beat and issuing $5/50/share dividend, ideally couple days of consolidation and pullback day to buy 131-33 area

BILL- huge move on earnings even though the numbers were not stellar, going to wait a day or so on this and see where the momentum is \

S- awesome! ideally couple days of pullback sub 60 for next move up, thin trader, a lot of the float is taken

CRWD- beautiful move on being added  to index Nasdaq 100, ideally pulls back in some, I have a hard time buying names up big 3-4 days in a row, r/r gets skewed, on momentum news, the earlier you are the better the trade is, and the better the risk is, KEEP FOCUSING ON RISK, everyday KEEP FOCUSING on the risk of your trades, not how much you can make if you size full size on the upside, that RISK will save you so many times over and will keep you in trades for the upside, stick to it, set a trailing stop, move your stop up etc etc, whatever you have to do to keep the risk in check.

GME- going to keep watching this 220 area if we build over it thinking we are in for another crazy move up

AMC- gonna keep watching 43-44 area if we build over that I will lose interest if we stay heavy I have no problem leaning on it for a short trade with risk in check, these two stocks AMC GME are not names where you say , “lets see what it does”

MRNA- looking for a short vs 388-390

BNTX- looking for a short vs 365-68 in such a strong market this two didn’t participate in the rally

PDD – watching China names in general after that relief rally last week early, ideally vs 93 area want to see if it can hold the gap and the start of something bigger vs being just a 2 day event

DVAX- actually a mid cap name- will look after first red day if 18.20-.50 can stay heavy if not will move on fast