157 [Looks like I got shaken out of some of the momentum leaders last week… Jul 20, 2020]

  • A lot of these growth names look like they found support on the rising 20day and they are building some small flags here, but I just don’t trust them, these flags are super short, will have to wait and see.
  • NVAX watching for a short, but also watching VXRT for a long, both in the same space, so idk. Shorted some NVAX (13kshares) [1min orl]. Thinking about adding, maybe on a pop, wanted a bounce back to vwap to double up, but waited a bit too long. Straight down holy sh*t, covered up 1/4. Added a bit more [pop to vwap] short 17kshares now. Stopped out hod. Reshorted some [rangebreak to downside, still above vwap].
  • Not that excited about anything, except TSLA, tightest range ever. Look at how tight this thing is on the 60min, once it breaks either way gonna go 300-500 points either way really really fast. I’m short 1000 shares from last week, but if it starts breaking that mid/high 1500, 1530s, I’m gonna switch to net long on it. Took out the orl, added a but more, short 2600shares now (moved stop on all to hod). Starting to break the lower end of the 60min range, if it confirms gonna short another 1300shares.
  • WKHS right on the rising 20day, looks exactly like NKLA a couple of weeks back. Added short [1min orl anticipation]. Short 75kshares now. Stopped out hod, undercut and held, not like NKLA where it just faded below straight to the 50day.
  • Bought some CRSP orhs.
  • AGI, gold sector, strong sector but not a good trading vehicle. I prefer trading NUGT or JNUG than individual gold stocks.
  • RDFN having some follow through from friday, had a nice little breakout candle. COUP having follow through from friday, AYX breaking out today. FVRR breaking higher. They’re all breaking from these tight tight very short ranges. The growth stocks are still the game in town, everything else going sideways or down. I was heavily long those, unfortunately don’t have a lot of exposure left in those names.
  • CVX buying out NBL, I have no opinion on that, they are both irrelevant stocks, none of them are momo leaders, I only care what the momo leaders do, that’s where the money is.
  • QQQs breaking higher, I should probably get rid of my TQQQ short, but I had such a good entry, man I don’t wanna give it up. FNGU also, so frustrating. I’m not gonna go long, but I’m gonna close shorts, I’m gonna lock in profits.
  • TWTR interesting, had the hack (gapped below the rising 10day, reclaimed and closed really strong and been straight up since, that’s a sign of strength) and they don’t give a sh*t, was some rumours they’re gonna start a subscription service, I may long some [coming out of a multiyear range]. Reminds me a little of ROKU a couple of weeks ago, when it broke this long range. Bought 100kshares took out hods. Just realised I’m risking 100k on the trade do I want to.. I guess I have to yolo, being cautious is costing me money in this market.
  • Why can’t you, who’s forcing you to be in the stock? Is there someone with a gun to your head forcing you to be in the stock? If you don’t wanna be in a stock, the best time to get out is now.
  • The momo leaders all bounced off their rising 20day. I’m not proud of it, but I kinda cheated on some of the exits. SE for eg, never really closed below the 20day, except for these two days, but it held the lows of this day, I should still be in SE. TWLO too, never really closed below the 20day, closed right at it, then it started building hls here, now it’s at new highs, I should be in TWLO too. But the thing is it got scary, everything went lower and I thought, I’ve been there where I give back a lot of open profits bc everything tanks and I just try to be smart, instead of following rules. I’m telling you guys it’s better to follow the rules than try to be smart. Now I’m paying for it bc I’m not long those stocks anymore and they’re going higher. FSLY too, never closed below the 20day, except for these days here, but they were still way higher than the bounce day. LVGO never even violated the 10day, but it’s so hard when things go straight up, like this thing went up 45% in just a few days, it’s so hard to have a conviction long in something like this.
  • DDOG couldn’t help myself, rebought some, just can’t help myself, bought 20kshares. Also stalking SE and LVGO. They’re triggering one by one. TWLO going, this is what happens when you don’t follow your rules, I’ve spent thousands of hours developing my rules, it’s bc they work. There’s a reason you wait for the first close below the 20day, look at how many of these just undercut then they closed above. PDD, TWLO, so many of them. Now I have to rebuy them higher.
  • JMIA bought 33kshares, this thing has extreme potential for a pump, extreme pump potential. Beaten down chart, coming out of a range, traded $15 almost last year, is like the AMZN, SQ and PYPL of Africa.
  • How can someone be up 200% on the year and still feel like a failure? I can. If you’re a new trader I don’t think you understand how much frustration and failure you’re gonna experience, trading is not easy. I hate this feeling, I hate the feeling of fomo, losing money is easier than missing out on profits, it’s kinda funny how it works. Fomo is a strong feeling.
  • It’s never gonna become obsolete, there’s always gonna be shakeouts. I don’t know what the markets are gonna do over the next 50years, but one thing I can guarantee; there’s always gonna be chart shakeouts. Always has been, and always will be.


  • Maybe I’ll write a blog post on it [not following sell rules]. Write a book? No one’s gonna read a book. Who has time to read a book when they can read an article and get the same amount of info out of it?
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