Happy Easter!
Pretty wild week last week – short week so every time I say Friday in the video I probably mean Thursday (just in case it happens).
I would say the best part about last week was proof that I’ve really fixed a lot of the mistakes I used to make as a trader.
A few years back – not sure I would be having the same conversation. There were always those few times per year we’re a name would convince me that I was dead right before ripping my face off ie: KODK AMC etc.
Not this time! As you saw in the room first day behaved pretty well – wrong to start no doubt but not sizing so I can go for a ride if need be. Respected and stopped out a couple of times as you guys saw with the chart but after $13.50s exhausted scaled scaled scaled covered into VWAP repeated the trade again late day and moved on. Normally I’d be sitting pretty exhausted and likely miss what was about to come.
The best part was:
- Respecting trend front side
- Understanding that when names have this kinda volume = longevity vs. your timetable (remember our MULN conversation?)
- Anticipating the $2-4 swipe on Thursday was clutch
Easter Sale
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Video Topics:
- Trading Smarter vs. Larger (Exponential)
- It Works Until It Doesn’t
- STOP DOING THE SAME THING OVER AND OVER EXPECTING DIFFERENT RESULTS
- It Should Be Expected!
- ATER Deep Dive
- People Don’t Give Themselves A Fair Shot (Get Caught, Troll)
- BCTX – Retail Run Up – Sell The News
- VERU Trap Off Open
Giveaway Winners
- MrMcStew – Icon Meals
- Patrick Warther – IU Shirt
- Jay Zimmerman – IU Shirt
- Robert Zotter – IU Shirt
Scanz winner next week!
Twitter Questions
advise and the best way for knowing when to start shorting and not getting bent on the front side of the move
— Sa7 (@Ssaa777777777) April 15, 2022
How do you know when something is still trappy for example VERU yesterday and when to be cautious?
— Benjamin Brothers (@BrothersTrades) April 15, 2022
Lots of stuff moving with solid higher than avg volume. If i focus everywhere i screw em all up.
Narrowed focus to 3 main ideas, but cant help but feel underperforming due to all the action.if u could touch on that. psych stuff
— D22 (@D22_123) April 15, 2022
What clues and tactics can be most helpful flipping bias?
(#1 struggle lately)Mostly because I'm dropping my original bias, but lack the fortitude to go forward.
Resulting in sitting out and missing opportunity or hanging onto that original bias too long.— Dumb Nathan Fielder 🥼 (@DumbNathan) April 15, 2022
Deep discussion on $VERU and how you traded it each day.
— GRoy (@GeorgeR9407) April 16, 2022
Video Scan and Game Plan
Stocks to Watch
ATER been one hell of a trade last few days – the more it flushes and holds on the less I like for the lay up short but so far so good. Reminded me a lot of the BBIG trade back in January as we went over. This told me two things – don’t pre exhaust and if I get a solid trade off and it flushes – don’t be afraid to use that flush as an exit otherwise I’ll likely be looking at a V shaped recovery. Held 20% over short again but as always HOPEFUL for higher $6 + shove would be ideal — goal is to get a good piece of this back to the $4s.
MDVL talk about a trap! Last week we talked about the $2.20 and $2.50 level being a key area – we also talked about TLRY and how I had seen the move in prior weeks so was able to reacted based off that alone – same thing on Thursday re: MDVL. Key levels worked BUT most importantly after it faded off — trend reclaimed = HANDS OFF and hope for higher. Should be a great blow off move coming — that said this is not a ‘no brainer’ short I’d love to see this thing walk down and trap again before going wild again. Reactive trade more thoughts in the room Monday.
INDO thinking it gaps down – traded it long for $4-5/share and flipped short at the end of the day and lost about a buck on the first entry. I was looking to scale if it cracked but never got past for first entry. Likely retraces a big part of it’s move — another great example of staying familiar with charts. I jumped long Thursday when I posted b/c I had actually reviewed that chart that morning — same thing with SKYH etc. Just keep flippin’ through and when they’re ready you’ll be that much more ready.
VERU relax on forcing it the next few days I think we’ll have a big trade later on in the week. Yes, likely a nice trade off open Monday / Tuesday but not the HIGH conviction trade like we had this week. Later on Wednesday + I think we’ll start to get a multi day trade to join. I’m not going in with a bias. Monday morning I’ll wait for clarity.
Failed Follow Through:
LEXX higher the better pretty clean rejection off the highs
BCTX higher better so far each big rally has been a great fade – thinking same until we see a higher low firm up.
BTU monitoring with price alerts for the crack day. Just because I have it on failed follow through does not mean I think it’s going down — could keep rippin’ I just want to be familiar for the day the edge comes.
Continuation:
NEXT break out look – no position watching dips.
LYRA nice idea last week – played out well but fumbled it. Holding steady still.
Staying Familiar:
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