Hope everyone had a great weekend!
Video Topics
- Crazy circuits last week on LCID! We’ll discuss it!
- HLBZ nearly 20 cents AHs (using naked short PRs to sell paper)
- GNS and BZFD comparison
- Move in Move Out Move On – Crowded Names
Video Scan and Game Plan
Stocks to Watch
BZFD very similar trapping action to GNS – we talked about this to start the day on Friday. This is the one that EVERYONE wants to figure out so that means the moves will be extra trappy/aggressive both ways. Levels worked extremely well – if you did not cover into the levels ie: $3.35 (if trading it short) it’s unlikely you made much money and that said if you were buying break outs it’s unlikely you made much money unless you bag held through and got bailed out. Point is – pick your spots. Focus on flushes for entry/rips for exits/exhaustion to fail. Reactive trade off open Monday and likely move on. Much like GNS I am looking for the BIG move not EVERY move – you’ll get CHOPPED.
LCID insanity – easily can just have steady pressure back down if TSLA takes a turn — but as long as EV is going focus on reactive trades and move on if wrong. Clean action – unreal opportunity on Friday. I had a few early but waited for any adds until we had the proper signs — was a broken record in the room DO NOT TRY TO NAIL THIS TRADE you will NOT miss it by waiting, sure enough $15 gap down off halt ramps to $16 then never went higher. If you try to scale in on an outlier trade like that — WHAT IF? Practice good risk management! These are the types that will end a career ASAP.
RIVN my main focus off LCID move – so when it was showing a $15 open from the $17.80 halt I started to hit RIVN pretty hard. Very clean fade there much less risk than LCID — FSR NKLA were other opportunities off that. Watch with LCID on Monday.
MARA been a great trader – keep on radar with RIOT and let’s see how things pan out.
Failed Follow Through:
COSM $6.80s over/under for unwind is ideal.
AUVI retail is still falling for the BS naked short PRs – which … I have NO COMPLAINTS let them. This was a great example of the sub VWAP trap we go over each morning. $1.50 was the key level and soaked each time 2-3-4 x and we finally got that blow out move when you saw I started into the $1.8x’s move. Truthfully I wanted a much bigger and expected it but I think it’ll come next week – likely many shorts add add added so it held trend through late day at $1.50.
FOXO big one on Friday – missed a cover on the first $1 flush which was a bit annoying but worked out. Ideally some more shove for back side.
QNCX morning shove for quiet unwind.
Continuation:
MLGO could be a nice liquidity trap. Another sub VWAP trap and squeeze. Fortunately they made it pretty clear in the tape so had some great reads on Thursday enough that I was off desk by 10:45AM. Smash and leave. More comments in IU as it unfolds watching dips if it soaks for r/g move — if we have another PR and gaps up watch for stuff and failed follow through set up.
APE up AHs on the filing AMC down. Possible trade midday – last time it gapped faded and squeezed shorts out.
CVNA reactive trade watch — chart is primed if it wants to break out with the rest of the meme type names. Obviously if it fails to follow through I like that too.
LHDX watching if starts to build
HOLO same thoughts as Monday on broadcast I said I was interested in possible Friday start on the squeeze and Monday/Tuesday for T+2 liquidity trap/squeeze of traders on forced buy in. We’ll see. My thought is they gap, walk it down, churn a ton of volume make you think it’s gonna be a liquidation trade and then IF …… IF key word IF it perks up and dips get soaked HUDI style push. Be cautious if it just stays heavy as we know the history here.
Staying Familiar:
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