156 [Next leg in the markets going to be up or down? Jul 18, 2020]

  • Market has been in a range. Got stopped out of all cruiselines and airlines, after clean breakout from the lows then whole sector went to sh*t. Just not seeing much rn, not in a type of aggressive bullmarket like the last 4months, the past week or so has been pretty muted. We’ve had a big run, we just need to digest this, QQQ is up 57% from march lows, this is like 3rd biggest run in 100years, we just need to digest it. Last four months just been relentless buying, sector rotation, now it’s kinda sluggish.
  • NVAX triggered yesterday but didn’t buy it bc whole market looked choppy. INO looks good, vaccine plays look good. MRNA found support on 60min chart. INO bought 90kshares.
  • WKHS insanely tight range, waiting for some PR on USPS contract. Starting to break lower, just shorted 75kshares. WKHS on the 60min chart reminds me of NKLA a couple of months ago, when it started breaking lower, was a momo leader then started breaking lower from a tight consolidation on the 60min. Went down 40% in 3 sessions. WKHS reminds me of that, it’s been building lower highs and it’s just breaking below that lower trendline.
  • FSLY bearflagging below 10/20day. All about waiting, no idea if these things all break lower or higher. Ok FSLY now you can clearly see is in a downtrend on the 60min, 10/20/65ema all sloping lower, and see where it got rejected on the declining 20ema past two days, and now it got rejected again. This thing if it starts fading from this little bearish formation on the 60min, next stop is gonna be the 50day. FSLY yelling at us rn that it wants to go lower, gonna wait for a bounce, not that there’s gonna be a bounce, gonna miss the trade bc I don’t wanna chase. Shorted 15kshares [1/2] in the high 77s [on a bounce], if it rebreaks that high 76 area this thing could easily fade back to $60 [rising 50day]. Found bidders pretty quick, reclaimed, that’s not a good thing for our short, thing is super strong. I want to see this thing build more lhs on the 60min to add.
  • APT added a little to yesterday, broke out of this flag. Taking out yesterday’s highs. Selling some [up 10%], nice trade from yesterday’s adds. Added here when it popped on high volume then pulled back, mid 19s when it pulled back, little bit a chase but didn’t see it when it broke out didn’t have an alert, otherwise would have probably bought it low 19s or high 18s. But look if this is gonna go, it’s gonna go back to 40/50, masks are everywhere in the news. I’s all about looking at the potential r/r, look at what APT did back in feb.
  • TSLA somehow holding up, building a tight range, just waiting or rising 10day to catch up with it then we’ll see if it bounces off of it and goes higher, or break below. Had a big big move down. went down 20% in two sessions, now just digesting, we’ll see if it wants to go higher or lower, just in a big big range rn, getting tighter and tighter. TSLA is now above this 1500 range, needs to get below, may take a starter short orls, getting rejected on upper end of this channel again, just in the middle of a very choppy range. Back in starter short [1/4] took out orls, tried to break out of upper range, couldn’t rejected now fading back. Still stuck in middle of range it’s been in past 6/7 sessions. Gonna be a big mover, honestly don’t want this thing to break higher or lower today, want the trade next week, bc whichever way this breaks could get a 300/500point move either direction. I think it could be a big big trade, and the tighter it gets the better. Going red added 1300 shares, once it starts breaking this high 1400s range to the downside, gonna add some insane size to this.
  • WRTC, stopped me out, I sold pretty much at the lows, right at the rising 20day, but there were so many things fading at the time, I was looking to get out of the smallest and weakest positions first, and now, I guess it’s not the weakest.
  • SPCE, straight up, this was a big miss yesterday. Their new ceo is from disney, head of international parks, that’s pretty big news, unfortunately I missed it on orhs. The rangebreak, the volume and the news in combination, that’s a pretty big deal.
  • DVAX what a breakout, I’m underestimating these things. Up three days in a row? Not really, just came out of a range. Look at how tight it was on the 60min. Entry was right here 9.80s/9.90s when it broke, wasn’t a chase, was coming out of a solid range, with hls.
  • BE still long most, only sold about 15/20%, now that it actually went to 19 could go 25/30, thing is stronger than I anticipated, a couple days ago they had a new pr and this thing went absolutely nuts, I think this thing has a lot of juice to go. This is starting to become a leader.
  • NFLX is just on the rising 20day, but if it takes out the lows, sure could be a short, it’s a leading growth stock, it is a little bit of an indicator for the rest of the market, yeah next target would be the rising 50day, but there are better ones out there imo.
  • OPK this thing broke out 3 weeks ago on this day here [26/6/2020] I even marked this day for a breakout, now it’s 60% higher.
  • PTON as a short, not a bad setup. If this loses the 20day next stop is the 50day.


  • Have a great weekend, don’t forget to spend at least 5/10hours studying charts, studying setups.
  • You’re gonna get to a point you don’t even care you sold those shares too early, don’t worry about it. I’ll make sure you get to a point in your trading where you don’t even care about those 5.7M, I promise you that.
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