118 [Finally about to get a base building period after straight up panic buying? May 13, 2020]

  • VTIQ, omg I sold it at 21 yesterday, it’s up 55% since! I can’t believe this is happening, really? I love it. Shorted some orls, looks like it’s failing at vwap again, if it keeps failing at vwap I’ll add even more. Showing some strength, I’ll try to short some more on pops. Took out hod hit both stops, took 115k loss on it, hope this goes to 40. That’s why you always have stops set on these momo stocks.
  • NVAX missed entry, so far got a tiny piece. NVAX short stopped out 48k loss. These vax stocks holding up really well. This goes on my not to trade list rest of day, unless it sets up on the 60min chart later in day. But it’s not a bad thing if these stop me out and go even higher, the setups will be even better. MRNA could go 100, NVAX 60, those would be some million dollar setups.
  • W short some, breaking down on the 60min.
  • All these airline, cruiseline, financials bear flags breaking down. Covering tiny bit into opening flush. The fact that all the bear flag stocks I’ve been stalking started breaking down yesterday, that little detail made me short a bunch. That’s also the reason I got rid of a lot of long exposure late day. I went from pretty much 130/140% net long to maybe 30/40% net long in the last two hours yesterday. If you pay attention these things were super obvious.
  • I don’t give a sh*t about level 2, I don’t really look at level 2 now. Only when I’m about to enter an order, like a buy or sell, then I just briefly look at it just to see the spread and things like that, but otherwise no I don’t really follow. It’s just all algos trading back and forth, I don’t think there’s an edge there. Maybe on like microcaps I guess there is, like there’s a specific fund or MM pushing something, but on the stocks I mostly trade there’s absolutely no edge in looking at level 2 or t&s. Level 2 is great if you’re either a microcap trader, bc it’s more obvious microcap stuff, especially if there is one big actor pushing a stock higher or lower, then you can see it on the lvl2 and t&s. But on stuff like these that I usually trade it’s totally pointless. Also on the timeframes I trade, like I don’t give a sh*t, I really don’t it doesn’t do anything for me.
  • MARK got stopped out of adds yesterday for a small loss but overall still half a mil trade. Not sure if will keep stop here 1.13 or use the pivot here at yesterday’s lows as stop. But if it sets up again on the 60min will add back some size. I don’t think they’re done with this thing, they’ve been pumping it hard. It’s holding hls on the 60min so far, so technically it’s fine.
  • NKLA is gonna merge [with VTIQ], they’re pumping it as a fuel cell play. It’s about fuel cells not electric cars, it’s a hot theme, don’t think about it too much. Anytime you get a theme that captures people’s imagination, that’s when you get moves like this.


  • It’s really like a market of two worlds right now.
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