Absolutely insane turn of events this weekend. As you know, I don’t discuss politics on Twitter or in the chat room, but I will say this – let’s focus on unity.
We get so caught up in bickering and BS online that we forget about what really matters. I hope we can use this moment to pivot back on course.
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Small Cap Summer
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- Failed Follow Through Set Ups and Clear Outs: VRPX NAAS RNLX SNOA CYN LCFY
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Stocks to Watch
SOUN pretty good volume here – ideally $6.50 blow out and then looking to fade it back down. This is a traders name, I think most come in and want to treat it like a typical small cap and let it work all day but I think it’s best to react to a trade, cover and wait for next set up. Don’t assume it’ll fade all day. $6.50-6.80 + would be ideal for fade back sub $6. Happy to adjust thoughts on the fly, as always.
RIVN wasted about 2.5 hours Friday with starter on waiting for that point to scale that never came until the final hour. Good news is I didn’t waste 3 hours more, I left desk and sure the trade did come and yes I missed it but that’s okay. There are so many set ups right now, can’t dwell over a missed opportunity. What I would recommend is to review the commentary on Friday the two or three flushes where we I mentioned CAUTIOUS NO SCALE let it CONFIRM — this is good to review because those 2-3 minute pull backs before swipes to highs is where people get in trouble. Looking to short parabolic move or pops vs. VWAP the day VWAP doesn’t hold.
LCID really nice call by Cody last few weeks with those calls. Ideally $4.50 + parabolic but we are going to have a nice NKLA SOUN style trade set up coming.
QS reactive trade – higher better reactive trade.
Failed Follow Through:
KZIA nice one Friday from game plan ideally any good .05 + pushes for more fades back to where it came from
TOYO ideally morning clear out .20-.30 + and quite honestly we could be in for a huge T+1 if this doesn’t break down tomorrow. I feel like most shorts stayed in and definitely a potential for squeeze IF tomorrow does not gap and unwind under Friday lows.
ZAPP just working through buy-ins Friday — levels posted worked well $11.40-12.80s I would continue to use those levels but keep in mind just like the comparison from the start AISP OCEA etc. I think unwinds similar to those and MLGO once cover is finished.
Continuation:
AP I have 1/3 left from the swing idea and thesis at $1.1x’s — pretty big move for anyone who participated. Saw the same style trap as ZAPP hence the swing thesis given vs $1 — not bad risk .05-.10 for ~.80 upside so far
SMR let it run – but stalking daily – this is the “How was it even on your radar?” answer that I get asked a lot when there is a name that unwinds out of the blew but was prepared. Stay focused for post blow out day.
EBS same as SMR – let errrr rip but focused for THE day. People ask why not just get long? It’s easy in hindsight to know what to do but without a good entry it’s hard to let a trade work that’s so over extended. But the day it fades I’d be more comfortable trading 10-20x the size I’d take long due to the set up and that’s why it makes sense.
BENF possible liquidity trap working.
OKYO day two see how this pans out. Big picture idea last week.
CMND possible liquidity trap forming.
Staying Familiar:
Price Alerts Extending Names: U UPST AMD PLTR TSLA LMND RDDT JMIA EOSE IREN OPEN NVDA
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