• ZM undercut and reclaimed, but it is gapping down now with the market gapping up, due to the vaccine news, bc the vaccine would be a bad thing for ZM, that’s why it’s showing rw. MRNA and airlines cruiselines up, if the market sells off on this gap up, gonna go heavily short. MRNA selling off for now, so gonna use lod as stop for remaining long shares. All out now. Looks interesting, building hls all day, it is the leading momo stock rn, if it starts breaking that high 84 area, may get back in on long side.
• If you look at the QQQs yesterday, built hls and hhs all day yesterday, then a rally into the close and now it’s gapping up. What did TSLA do? TSLA went sideways in a range this whole time, didn’t have a rally late day, now it’s barely gapping up, still inside of the range premarket. So this thing is showing big time rw rn, showed rw all day yesterday. This thing takes out orls gonna go heavy, already added a bit premarket. QQQs gapping above yesterday’s highs, TSLA well below yesterday’s highs.
• TSLA shorting more orls, short 3600shares now. TSLA about to go red, at lows of range here, final stop now hods. If it breaks the 1484 range later in day gonna add more size to short. Still showing rw, QQQs hanging out near the highs, TSLA red on the day, if this thing starts breaking below that 1485 range, we may not get the trade today, but this is a bearflag on the 60min for now. Weakening again, if takes out lods gonna add and use a tight stop for those adds. If it breaks lods, next stop is gonna be 1400, really no support until 1400, that’s where we have the recent base we bought it off, the 10day and the 65ema. Shorted more, almost 7M position now.
• ERI, casino name looks decent, been building hls, and has big momo, this is a momo leader, is up 500% from march lows.
• TNA bought 15kshares, will buy another if takes out hod. Stopped out quickly, markets are gonna go lower, they can’t hold this gap up. TQQQ may add short here if takes out orls. Getting some whipsaw in the indices, but if TNA takes out hods getting back in. Bought 65kshares TNA. Bought more, 90kshares TNA now. TNA is working well, IWM just reclaimed the 200day, if Russell goes to 170, which it easily could if this breakout holds, TNA is gonna go to 45.
• Just don’t wanna get too aggressive either way rn. Bc if you’re in a whipsaw market, if you’re buying breakouts in a whipsaw market you’re gonna get killed. I’m short and long the indices at the same. I’m long TNA which is a triple IWM etf, but I’m short TQQQ which is a triple QQQ etf, bc I can’t really know yet. If we get a strong close I may size down on the short, if we get a weak close I’ll prob get rid of the long.
• TQQQ short is a better short than SQQQ buy.
• NCLH bought 110kshares. A lot of these names are starting to fade, I’m gonna take some fat losses if these all start to fade. I’m just trading the setups, I’m not chasing anything, I’m just trading the setups, and sometimes things reverse, they trigger and then they reverse, just happens sometimes. I got suckered in on the sucker’s gap, trading like an amateur here. Whatever, I’m gonna take the losses as a man, not gonna whine, not gonna b*tch, not gonna moan, but it is annoying.
• What’s offensive to me? Guys I get really triggered when you buy a breakout that is not a momo leader. Or, no not or, and, when you don’t respect your stop losses. That’s what triggers me. There’s nothing that triggers me more than those two things. If you trade a random piece of sh*t illiquid, low adr stock, that triggers me, holy sh*t, gets my blood boiling. I’m a stock nazi, I am. You know the great thing about the stock market, it doesn’t matter who you are, it doesn’t care about anything. If you have a solid methodology that you know works, if you are exploiting some sort of a market pattern that occurs over and over again, you’re gonna make money. If you respect your stops, if you know when to stay out of the market, when to get aggressive. If you don’t have a solid methodology, if you’re just doing some random stuff at random times, you’re not gonna make money. The market doesn’t care. The market is the best equaliser, doesn’t matter how smart you are, how educated you are, none of those things matter. You really don’t need to have any kind of advantage in life to be successful in the stock market. You can start with a few thousand dollars and run it into tens of millions, anyone can do that, if you really apply yourself. It’s gonna take time, but it’s doable.
• I’m gonna show you guys what happened to me on SRNE like a month back, it came out of this tight tight range, this is where I bought it low 5s [23/6/2020], could of hundred thousand shares, it came out of this range with hls, then it had a big run went up 35%, then it pulled back, undercut the rising 20ema on the 60min. I stopped out of it when it took out the lows of the gap up day at $6 or so. Went a little bit lower then it found support on the rising 20ema and started grinding higher, took out the highs and went even higher. Same thing happened to me on UAVS this week, came out of a tight range, momo stock, built hls for a week or so, took out this range on volume, then when it took out the lows of gap up day I got stopped out, it went a little bit lower, found support on the 20ema, now it looks like it wants to go higher.
• ADR is the percentage difference between today’s high and yesterday’s low, the 20 day avg of that. It’s the same thing as ATR, but that indicator is in dollars and cents and not percent, and also ATR only takes the lows of the current day versus the highs of the current day, so it doesn’t account for gaps.
• Some of these growth stocks are really really strong, some of the names I got stopped out but they’re really not lower. Like MELI, undercut the rising 20day, now it’s right back here in the range. Same thing with DDOG, undercut built a hl, now it’s flagging again. Maybe in a couple of weeks we get some really insane setups. PDD looks really good also, had this undercut then right back into range. When you have an undercut, and it goes right back into range and holds the technical pattern, that’s bullish, that’s very bullish, that’s a show of strength.
• These bankrupt names, it’s kinda sad, people put their life savings into stocks, they have no idea what they’re doing. But if they’re gonna buy like a vacuum cleaner or a tv, most people usually do a lot of research.
• VXRT, sold last shares [break of 10ema 60min], this was a nice trade from orhs 2 days ago [13/7/2020] 9.10 I bought 80kshares, and it doubled in two days, was even higher in AH, hit $20 premarket today. That’s what can happen sometimes when you trade these momo leaders, momo stocks, this is why you focus on momo leaders and not just some random stock that happens to look good.
• You need a big edge to make a lot of money in trading. And not even a big edge, obv it helps to have a big edge, but any edge. The smaller your edge, the more trades you have to do, the more you have to work for it. I’m naturally lazy, I’m always trying to find ways to make the most amount of money with the least amount of work and the least amount of headaches, that’s why I became a swing and position trader, I realised many years ago I don’t want to be a daytrader. One it’s not very scalable, swing trading is much better.
• SSSS, runup into PLTR IPO, problem is it’s already running, already up 50%, don’t see an edge here. This is what it does, it always runs up into these IPOs for one of their holdings, they had a run up into FB IPO, then when FB actually IPO’d it had a big down day. Then it ran up into TWTR IPO, then it tried to run up into SNAP ipo but didn’t really get going. D BX ran up into IPO, and SPOT ipo, and LYFT ipo, so it’s just doing the same thing here. I think it’s too late to buy, but there’s also no good setup there rn. If you bought it either on this day here when it broke out [12/6/2020] or here [8/7/2020], just trail your stops, sell some into strength and trail the rest, but it’s not a buy here.

Misc:

• You can say crazy man but not crazy woman, you can say crazy white man but not crazy black man, welcome to 2020.
• Unless you start focussing solely on the momo leaders, you’re not gonna get any BMWs.