We finally got a ton of snow up here in the North East. Blizzard warnings, windy, cold – but probably got at least a foot and a half which will be fantastic for skiing.
Play off weekend and I’m not even sure who I am rooting for anymore! Hopefully we get crazy good games like last weekend that’s really all you can ask for.
Game plan remains the same until the market changes!
Giveaway Winners
- Sebastian – T-Shirt
- J Young – T-Shirt
- Chris Mingacci – T-Shirt
- Brett – T-Shirt
- M Power – Icon Meals
Video Topics:
- Data Issues
- Showcased Volatility Calls
- Repeat Until Stops Working
- Compound
- Stop Overcomplication
- Understanding the WHY (Markets Downside/Upside)
Video Scan and Game Plan
Stocks to Watch
AAPL I’d love to see an over extension to the upside $172-175 maybe it’s a lot to ask but if it’s anything like Friday what a beautiful trade. I’ll be looking for similar exhaustion points to take advantage of.
TQQQ ideally gap $2-3 points blow off sit back we’ll see. Once again no point trying to guess what we’re going to open at. This is a traders market – focus and wait for the trade. SQQQ as the opposite.
TKLF nice move AHs – towards $4. Going to watch how this volume fades off next few days sorta reminds me of how SOPA lined up after the failed IPO. It was very very trappy on Friday. I Traded it well but at the end of the day — likely many held short.
Failed Follow Through:
HOOD Cathie was in the tape on Friday hence the power – I was watching each level given in the room for failed follow through but we didn’t get it. Tried it midday got a nice fade but covered into the line given. DKNG very similar thought process.
SQQQ want to keep a better eye on this – as you know I prefer to short if we are back in grind up mode I’ll be looking to fade (obviously opposite TQQQ).
Continuation:
SBEV been a few liquidity traps here – risk is high but best to keep on radar. I’ve carried a few and so far held well – in my opinion $4.20-4.30 trigger.
RCON nice idea on Friday I sold some at $1.38 AHs on that rip — kept rest and will looking to scale if it holds. Nothing to get overly bullish if it doesn’t want to hold.
DAVE bought the flush into close just a starter – looking for weak open and rip or gap and add on dips vs. VWAP as a guide. If fails, will move on. Was just looking for possible outlier move HLBZ style.
APM nice liquidity trap idea last week – came back nicely. No position anymore but it’s not going away. To me noteworthy if it holds I’ll be nibbling (looking for wicks GMVD IMTE etc)
IMTN watching for possible break out $4.25-4.30 trigger
BBBY $16 trigger worthy eye.
Staying Familiar:
Thank you for explaining the WHY of stocks moving, I never considered the scenario/example you talked about. I really needed to understand the WHY, once I know the WHY things do what they do (not just stocks) then I’m able to understand, retain the information and grow stronger/better on the task at hand.
Thank you so much!!
On the January 31 scan – went back and listened a 3rd time – Excellent point at 8:30 minutes into the cast – the secondary unwind – due to margin – then goes further down due to average down. I need to strengthen my resolve to sit on hands and not average down. Thank you Nate!