• Watching this ATOS potentially on the short side later. I rarely short day 1, but I’m gonna try a new thing. I’m gonna trade these microcap pumps on the 60min chart, very wide stops, and see how that goes.
• I shorted W late day yesterday, it showed rw. It built lhs all day, and on the 60min has a perfect perfect little breakdown here, so I had a very tight stop. Now it’s fading.
• Some of these casinos and cruise lines getting tight on the 60min chart. May be a trade there, possibly on the short side. Starting to see some breaking down on the 60min. We might be at the point of a pullback, some of these weak stocks are starting to breakdown.
• DAL looks like death. I shorted some here, this thing got rejected off the declining 20day. All the time the market bounced, this thing has just been going sideways.
• It’s a tale of two markets right now, it really is. You have these weak names; cruise lines, hotels, airlines, car rentals, are trying to break down. And all these growth stocks are up. This is a chasers market, and maybe we get going, but I think a lot of people gonna learn a lesson about chasing sooner or later. Rn we are seeing something we haven’t seen in a long time. All the growth stocks going higher, all the value stocks breaking down, all of them. So idk if we’re finally ready for a pullback. But if we can get a pullback sideways for a month or so, that would be a great, great great great, great great, great thing.
• MGM, WYNN, really nice setups. Really tight nice setups. Like this WYNN, you can risk like 1.50 to potentially make like 15-20 bucks, why not?
• Opening range can be the 1/5/10/15/30/60min, it depends. I use all of them, but sometimes I ignore the 1min and just look at the 5min or 60min. It’s pretty much a range that’s established, early in the day. And above that is orh and below is orl. You can define the time frame, the concept is the same. If you think something is going to go up, you need to wait for a range to build, you need to have some kind of a set stop.