102 [Sell the news coming in the markets? Apr 17, 2020]

  • FCEL looks good but it’s the laggard, BLDP and PLUG are the leaders and both gapping up. Could double triple very quickly if it wants to. Looks great on the weekly too, has a four month base here, about a month and a half of hls, once it breaks that low 1.70 area, this thing could even double before it hits any resistance. FCEL is breaking out, should I buy it? I just have to go with the flow, I have to adapt, things are going higher.
  • I think we’re starting to hit some peak euphoria in the short term. I think we may get to a point where we get the classic buy the rumour sell the news scenario [vaccine], I could be dead wrong, but I just don’t think the market can go straight up without any kind of pullback. That’s a good thing, will help us get setups in the best stocks. Most times you get microcap euphoria, we are near a short term top. It happens like clockwork 2-3 times per year, this is one of those times. Usually it only lasts a week or so and then the market pulls back.
  • Short SPXL very tight stop, and TQQQ 1min orl, may add more 5min orls whichever takes out range first. If the markets can’t pull back now that the SPYs rejected off the 50day, idk what’s gonna make them pull back. If this is the pullback I wanna be there with some size. Shorted some more TQQQ, now have some great entries with some big size (most used since TVIX in 900s) now just gonna watch mid/late day for some tight breakdowns. Now it’s all about stalking.
  • Okay SPYs hard reject off the 50day, reshorted SPXL lods.
  • GILD, I rarely short day 1, it’s not really my kind of setup. MRNA was the one really, it was up four days prior to this news, 1min world was the entry. But first day shorting has gotten me into a lot of trouble over the years, so I just ignore day 1, or at least I try to. But yeah I was looking at this rejection at the vwap on GILD.
  • MRNA, pushed back up through vwap, now breaking downside first 5min red candle, okay gonna short some here. Tight stop obviously, 70c. Just pulled back below vwap, and if you look at premarket data, it’s been building lhs since ahs. The way I see it I’m risking 70c to potentially make 7 dollars, its a 1:10 r/r. Especially if the markets pull back themselves, why can’t this thing pull back to 39s? That’s like the mid range from yesterday. It’s a good r/r, and it’s a good setup: you had a pullback, you had a bounce (a bunch of green 5 min candles in a row), then you get an overshoot of the vwap, but it’s still a lower high. And then it fell back below vwap. I like the setup. Not a bad setup.
  • Lots of the sh*t stocks are up today. Interesting change of character, previously was just the growth stocks up and these things down. Today everything is up. We had a growth stock rally, now maybe we get a turd rally. I’m gonna buy some CCL [orh], this is the one that raised money, not as likely to go bankrupt.

Misc:

  • I’m a bull at heart, I short a lot but I’m a bull at heart. It’s okay if that doesn’t make any sense.
  • Oh well, but on the other hand if I wasn’t cautious as a trader, we wouldn’t be sitting here today, you wouldn’t be listening to me. I would be working at MCD or something, or I’d be a professional gamer. What else would I do? I have no other skills.
  • The Devil kills a kitten every time you short stocks. You’re donating money to the Devil.
  • Rome II Total War. If I get run over twice, in the game and in the markets, you guys better lower your volume.
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