We’re already into October, not sure how that happened!
We picked the Avidity Fitness winners (yes a week late, my bad) things got super jam-packed last week and slipped my mind last Sunday!
We were able to raise $7500 with the fitness challenge for Traders4ACause thank you to everyone who showed up.
Anh and Kyle were the winners for the Traders4ACause ticket ($1500 value).
Annual IU free = Carson (this guy lives on a boat, by the way – pretty neat).
Anyone that wants to stick around, Zach is giving 50% off Avidity Fitness – I love seeing over 30 people there on Tues and Weds, and yes, it thins out on the weekend since it may be a bit early for the west coast, but, that said, you’re up for the market anyway so … usually works out.
At the end of today’s video, I am going to show you what it looks like on our 8:50 AM broadcast. Soon, I’ll be introducing more traders to the mix. Sunday scan and showing you how I prepare on broadcast is to see if you find any benefit. If you do, great – if not, who cares this is your journey you need to find what works for you. You need to find the proper home that fits with your own personality. That’s why we do interviews with everyone. If IU is not that home, but we were a step in the right direction for you, that’s a WIN.
This is the time of year I start talking about all the things you wanted to achieve this year and didn’t — start building those habits. Don’t wait for the new year. Need more steps? Get a step counter. Get after it. Need better risk management and to prevent slippage? Put that stop in. Trading too much? Focus on A quality B worst case — skim all the rest. Spending too much time at the desk? Set your alarm clock to re-evaluate.
I am continuing to make progress with the changes I’ve been talking about. Each morning I focus on only 2-3 names, and I try to let them work. If I am going to press buttons after that, it needs to be a high-quality setup. It’s very easy to keep pressing buttons on subpar trades. This isn’t 2020 anymore or 2021 where I can keep scale scale scaling into a move adjust and repeat for the ultimate flush or break out.
Video Topics:
- Avidity Fitness
- Broadcast example
- Changes for new year?
- Steps
- Risk
- Over trading?
- Re-evaluate alarm clock?
- Changes
Video Scan and Game Plan
Stocks to Watch
PLTR morning shove and failed follow through is ideal. Possibly mid $16s and fade off.
NKLA higher better and then looking for quiet failed follow through. It’s either going to do unwind or consolidate sideways all day. Don’t force it the day it wants to consolidate.
NVOS morning shove/gap and unwind is ideal – sketchy PR sketchy CEO on Twitter threatening Hindenburg – super bad look. This price range is different because of the lower IQ (no offense) investor so whatever the truth is doesn’t necessarily matter to them ie: AMC everyone else is wrong even though they are down 99% — same sorta mentality here. Again, not trying to offend the investor just making a point that yes it likely unwinds all the way back down but it probably takes a lot longer than most think so don’t FORCE the trade make sure it agrees with your thesis on any given day (especially post reverse split).
Failed Follow Through:
ZJYL I switched from continuation side to failed follow through – you can see the wash volume each day so monitoring for the day ideally they blow it out and there is a huge amount of volume overhead (not into a bid). If you’ve been paying attention you know what I mean, if not, well – review. Same as SJ commentary RETO HKIT etc.
UPTD nice blow out on Friday – ideally any good pops and then just fade off a few more bucks that may have been “it”
Continuation:
LFMD has been a break out idea – same thoughts as last week re: all dips soaked for break out continuation until it blows off – review that FNGR trade as the concept
FEMY nice idea on Friday – great long plan vs that $1.80s. I think most of it was a buy in through Wedbush (downside to not getting real borrows that we talked about) and then forced cover comes in at open and VWAP through the day. I think it’s possible one more good move off a weak open and then towards weeks end possible failed follow through.
MNTS watch dips if they absorb
GRPN nice break out chart
GRTS possible break out over 1.75 trigger and $2 to open up – see if liq trap forms
JWEL watching for that slow daily walk up (former liquidation play)
Staying Familiar:
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