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Scan for 04/01/24 From Nate

by InvestorsLive | Mar 31, 2024

Happy Easter to all and/or Happy Sunday!

Hope you saw the new promotion at CenterPoint up to $7500 in trading credits.

My kind of market has been really picking up over the last three weeks. Real names, real liquidity and none of this fabricated volume BS that gets you all trapped up in illiquid swipes/circuits etc.

Stuff like AVXL is great — and sure I may trade it but no where near the size I used to. I save all size and conviction for moves like CGC DJT RDDT CLSK MARA types or possibly NKLA trade this week vs the thin controlled crap.

Had a small conversation in lounge on Thursday that I want to once again repeat. Taking a placeholder trade is something I do for some trades because how many times are you prepared for a trade but it falls off your radar the moment you click off a chart? I do that on most names. Many times. Small place holder to put it on radar and make sure it doesn’t get lost. For some, like Thursday that is a VERY difficult concept to understand. “How do you deal with the emotion if you’re early and it moves $X against you” – by definition alone, there is no emotion. It’s a meaningless position.

Take that candle off the chart if you can’t wrap your head around it for whatever reason. Simple fix. Focus on the set up. We always discuss WHERE and WHEN failed follow through would set up. When it flushes after a stuff that becomes the only level you should care about.

Main Watches:

DJT chart doesn’t work but ideally use same lines as Weds Thurs. Big one last week!

RDDT higher better for back side possible flush out mid low $40s before a reversal

PLTR nice off the downgrade on Thursday and scale post open. Great opp.

CGC nice short there late day into prior resistance – once again a looking left clear out idea which world perfectly but I decided it was more important to get off desk and enjoy the weekend vs. stay put — and yeah, damn, the bottom fell out. Thinking it may hang around a bit into the shareholder meeting but over all should act like SOUN. It may get some legs but for the most part keeps getting sold off.

VERI higher better for back side.

NKLA higher better for back side ideally $1.20 +

Failed Follow Through:

AVTX quiet small side fader given they blew everyone out at close.

DXYZ possible fade once this first few days momentum wears off. Weird one mostly private companies I think about 1/3 is in SpaceX but NAV is way way way lower. Does that mean it has to go down? Not at all. Look at stuff like MSTR when people suggest the premium doesn’t make sense. Many times market doesn’t care.