Things are really starting to pick up again over the last week and a half – absolutely turned it up a notch last week starting with the wild “Presidential Trade” DCFC which I’ll go over and finishing with some serious unwinds in the market the last few days.
Pay attention in the room – seeing traps and market well right now. Seeing everything I used to fall for and avoiding it – and sharing those thoughts real-time. I verbalize it because it helps me too.
T-Shirt Winners
- Philip Northcott
- Mikeb63
- David Alegre
Just leave a comment on YouTube and Like the video for a chance to win next week!
Video Topics
- Focusing On What YOU Do Best
- Letting Everyone Else Pay For The Information
- Proactive Exits
- Trading Around Core
- Draw Lines!
- Price Alerts (You Forget More Than You Think!)
Video Scan and Game Plan
Stocks to Watch
AMC the thing about this name is it’s always going to hang around longer than you think. As much as you want to let a great average and great trade work more often than not it’s best to lock into flushes UNTIL it proves otherwise. This behaves so well – drawing lines was crucial last week and helped so well on the failed follow through action.
AFRM last weeks intraday blow up – pretty insane I think it’s been about a year and a half before we had one like this maybe longer. Midday earnings release when no one expects it. This one was really bad though because their Twitter account posted the POSITIVE headlines despite actually guiding down and not being so great. So, while everyone front ran the “positive” tweet that was deleted from the company it nearly dropped 50% intraday within 10 minutes. Not good. Should offer more pressure and ideally a rebound $3-5 + next week at some point. Perhaps more if we can get lower. In an ideal set up we gap down $42-43 flush $38-40 range (maybe too much to ask for?) then rally back to $45-48
UVXY if the market gets a footing we’ll have another nice fade. REMINDER DO NOT FORGET AFTER YOU FORGET 🙂
IONQ very nice reactive trade on Friday – never went back after the first few trades but we know this thing likes to over extend. We know it likes to squeeze out. Focus. Wait. Reactive trades = proactive covers otherwise AVOID front side if you know you’re not good at it.
Failed Follow Through:
DWAC been paying out nicely each day – let it do its thing – scaling in IF IF IF failed follow through set up and most importantly be there when it flushes. This may be the most obvious fade trade hence holding up so the key will be not to forget once it falls off radar. Keep those price alerts. Launch in a few weeks here.
SENS big trade Friday posted the unwind idea pre market also put the thoughts on Twitter at $3.60. Absolutely lay up FDA approved no upside situation – sell the news set up. You never know until you get the PR and little to no upside. If everyone was loaded up (retail crowded) for the + PR …….. and it doesn’t go up ….. where is it going to go?
IRNT higher better and watch for fade back on $3 like SOPA chart.
BKKT do not keep pre exhausting front side but we should have a fantastic fade back to $5 once this secondary squeeze/staying power wears off.
PTON higher better for back side.
TWTR higher better for back side.
Continuation:
KAVL watching all dips – feels like it may actually have staying power but definitely blew off the shorts Friday and got pretty long heavy I bought the weak close as a starting point but looking to build if it reclaims $2.30s.
Staying Familiar:
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