Pretty volatile week given the circumstances with Russian invasion of Ukraine. Most of us have a lot to be thankful for and can’t imagine what families are going through right now. We have traders from all over the world – so for those impacted we’re thinking of you and hopefully things resolve soon.
We’re in very unique times – for many who are watching a market they’ve NEVER seen before. Many traders came in post COVID lows and it’s been straight up since. Past few months is the first time that reckless dip buying and reckless adds hasn’t bailed someone out.
Each week on Sunday Video in my opinion we’ve been hitting the nail on how to get prepared for this market. Equally important, what to watch out for.
Giveaway Winners
- Kmblackbear – T-Shirt
- Technics Pro- T-Shirt
- Robert Zotter- T-Shirt
- Nick Charnley – Icon Meals
Video Topics
- Then vs. Now Trading
- Russel Names
- IMPP Swing – More In Depth Later
- Can Have BEST Plan – Fumble
- Failure To Adapt.
These types of markets can really break a trader out and change their career.
General reminder: Someone will always make more! Just remember that. As you saw with my Thursday game plan — You can have the PERFECT plan and still screw it up too by absolutely minimizing the opportunity after perfect entries AFRM RBLX FB and shorting volatility UVXY VXX.
Although I feel like markets are incredible right now – I’ve had conversations with many who would disagree. Personally market volatility allows me to outperform – although, I’ve fumbled the big opps lately. If you know you don’t trade these markets well that’s OKAY! Sit back. Wait. Too many try to fix things that aren’t working and start to go backwards.
Remember a conversation, discussion or game plan is only as good as it’s execution. Every week I talk to traders who are struggling and talk about how to fix certain aspects of their trades only to see them repeat and do the same thing over and over as if:
1. The conversation didn’t happen
2. They are expecting different results.
Remember it’s on YOU. You need to not just soak it but make changes too. We can all want a six pack abs but just because you know the exercises to do — if you only do them half the time and never change your diet — are you going to get the results you want? So ………… why would you expect a difference? Why would you be frustrated it’s not working? Why is trading any different?
As you saw this week: COVID, interest rates and inflation are no longer in the news cycle. When Russia/Ukraine news took front and center it seems as though nothing else matters. Don’t forget – nothing has changed.
That said — Once again do not underestimate the bear market rally but like I said last time this is not healthy.
The good news for us is volatility will continue. All of this is unwinding everyone who got short into the invasion and once that’s done, we’ll do it all over again – repeat repeat repeat until volatility fades and liquidity starts to die off.
Video Scan and Game Plan
Stocks to Watch
IRNT killlller unwind into the final hour on Friday – very well prepared there had been waiting for size all day let that last exhaustion come in played the lines given in the room and down she went. This was a carbon copy of the BKKT trade. I’ll get into that on video. Higher better and looking to join post exhaustion – check how BKKT played out. Cautious getting too aggressive front side.
YNDX 945-10AM + trend join. Nice prep on Friday as we went over on the broadcast I felt like the entire pre market was all just marketing / painting the tape up making you think differently. Price always changes opinions. What seemed expensive before seems cheap (possible dip buy) when it runs up on air. Was looking for full day unwind & round trip.
FL this is that AFRM RBLX style set up where I’d like to see $1-2 rebound possible bit more on a blow off and then join the fade back once it confirms. If it has a weak open – won’t be looking to fade it unless steady slow sell post 10AM.
AMC watch w/ market especially if we come in next week – been a great trader. I think most of Friday into close was a squeeze back up.
Failed Follow Through:
ISPO bummed I missed the long back up – that was some quick money. I need to do better setting price alerts. Faded it a bit – worked out on Friday a few times but will look to fade it later in week once everyone forgets.
UUU nice opp on Friday quiet fader. Higher better and looking for failed follow through.
CYRN possible weak open but looking for all pops that fail using levels from Friday (looking left) for the unwind.
INDO possible gap down felt like quite a squeeze out on Friday into the final hour of close. Lots of buying/forced covers it felt like. I may be totally wrong but feel like the volume is going to walk and fade $2/share a day over the next few days. That said if it holds over $12 and volume fades off — take note.
Continuation:
IMPP pretty nice so far from the .74 scoops ended up with a .79 average on the swing. Went over this in depth last few days in the room — but will go over a bit on the video as to the “why” again comparing it to that WATT example that I use (first one that comes to mind) although we’ve had plenty happen since.
Staying Familiar:
Great video