123 [Trading and Chuck Norris. May 26, 2020]

  • Big gap up, SPY above 200day. A lot of these things gapping up, will see how they digest the open, if the market can keep the gap or if it’s gonna fade.
  • PENN, up 100% over 7-8 sessions now, reasonable to bet on a bit of a fade, maybe back to rising 10day or something, 15-20%. Orls or some kind of mid late day fade, the usual stuff. Took a starter here 5min orls. Next target gonna be high/mid 20s. If it builds a tight range and starts breaking down mid/late day may add to it, rn happy with 30k shares, 31.56 avg. When it failed vwap here, mid 31s could have been an add spot, with lhs as stop for those adds.
  • MRNA added orls, it’s going straight down. I’m super long rn, so shorting PENN, shorting MRNA, just balancing things up a little bit, incase we start fading. Covering some of adds into flush.
  • Reducing some long exposure, raising a bunch of stops here. This is not a market to play around in, we are getting extended here. I’m starting to see some people getting really optimistic, some people that were very skeptical, this is where rug pulls happen. When things look great, this is where things go to sh*t. Having said that we could also be on the verge of a big continuation of the run, but just be careful.
  • LUV took a starter short [15k shares]. If it takes out orls will add another 15k shares. Dollar risk to make maybe $4/5/6 to the downside. It’s above the 50day, I wasn’t aware, I thought it opened below the 50day, but could easily go to 35, just in case things start fading.
  • FAS bought 30k shares orhs. Don’t think I’m gonna do any individual financial names like DFS and SYF, even though they look great, I’ll just do the etf. Stopped out then rebought hods.
  • BLDP looks interesting, it’s a runaway market right now, I’ll buy some, small position.
  • Stay at home stocks like ZM and TDOC breaking down, but the normalcy stocks like cruiselines and airlines are strong.
  • If there weren’t different opinions you wouldn’t have a market. All the stocks would be pinned flat.
  • NVAX, bought long, if it can hold another hl here good r/r, can risk a dollar to make idk why can’t it go to 60 or something? I could also reshort it. I came in short 19k shares over the weekend, and I covered it somewhere here, low 56s, had some random high vol pop in premarket, that’s where I covered it, was like fts, took a 200k loss on it, since I added on friday. I could defo see myself reshorting it, but not here, if it starts breaking lower midday maybe. Is retesting vwap, if it takes out this 52.50 pivot I’m gonna short some. I really want this thing to close below 51 if I’m gonna hold it overnight.
  • Need more candles on the 60min chart before I can make any decisions.
  • CCL bought 50k shares, it just looks so good, first resistance is like 19 bucks, after that room to like 25. Pretty much shifting some of my portfolio from these overextended growth names to these beaten down names that are breaking higher from consolidations and flags kinds of patterns from the lows.


  • Can you guys write some trading related or finance related Chuck Norris jokes?
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