12 [2019-10-18_16-13-27. Oct 18, 2019]

  • BIMI ultra thin name but wow it’s going, prob some chat room pumping this thing, these are so easily influenced by chat rooms so you can’t trust the volume, when the volume comes in that could be the top, many times it is, kinda hard to trade them.
  • TEAM looks like it’s breaking down below the 200day for the first time in a couple of years, had an undercut late last year which got bought up and went on a 130% rally in 8months, so we’ll see does it get bought back up or is it a definite trend break, these multi year trend lines matter they’re significant. This TEAM it’s trading at 20xsales, PE130 and growth estimates are really not that great.
  • CCK is a super choppy stock it’s not a trading stock, it’s not the type of stock you’re gonna make big money on, you want to trade high beta.
  • I always sell some into strength, then I trail the rest, the first close below the 10day I sell 1/3 or 1/4, then a close below the 20day I sell another 1/3 or 1/4, then the 50day I’ll sell the last shares, but sometimes I make an exception if it has put in hls etc.
  • FRAN holy sh*t, just keeps going. Just last year this had a 70% multi month run, and now it’s in another multi month run. This is something you want to keep an eye on, stocks that the bigger the first leg higher, the bigger the second leg higher is gonna be, you want the strongest names, and sometimes it’s the stocks that have gone up the most that are gonna keep going up the most.
  • This is what happens with these stocks that get super beaten down, people think they’re gonna go bankrupt then when evidence comes out that they’re not gonna go bankrupt they can have huge runs. This is why I’m looking at stuff like MNK, ENDP, TEVA, RRC, AR, these stocks all look like they’re gonna go bankrupt but sometimes when they catch momo they 2/3/4x in no time, and sometimes move even more explosively than the best growth stocks, this is why I’m always stalking these things, you don’t even need to know the fundamentals you just need see the trend, I know the fundamentals are sh*t I can see from the chart.
  • TEVA about to take out hods, very strong, now if you look at the daily this is trying to take out the 100day and after that there’s an air pocket up to $10, so if it reclaims this could have another 25% move. And on the weekly looks even better, see this 20weekly that’s been resistance for over a year, just about to reclaim that’s a big air pocket, look what happened a year ago, reclaimed that declining MA, boom up 42% in a couple of weeks, that’s after being up over 50% from the lows.
  • IGV I’m gonna take a longer term short, like a few months or maybe longer, okay I’m short 3kshares, gonna use a $2 stop, if it starts to go down could go idk $50, in case we get a valuation unwind in the software sector.
  • I will see you again Monday where we’ll do this all over again, trading doesn’t have to be complicated, it’s simple things that you do over and over again and the money will compound, with long periods of extreme boredom in between, that’s trading in a nutshell.
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