158 [Momentum leaders leading, laggards lagging. Jul 21, 2020]

  • TSLA sold some premarket is gapping down a bit now, overall acting really well. Yesterday went from being short 3900shares to being long 2300shares inside of a few seconds, went from being 6M short to being 4M long, probably my biggest position switch ever. TSLA was in a tight range, and I was betting on a breakdown, just bc I thought enough is enough the stock has to go down eventually right. And then it started breaking out, it had this big straight up candle, that’s a sign of aggressive buying. It started stopping me out, it reclaimed vwap I got stopped out 1/3, then I got stopped out more, then at the hods I got stopped out of my last short piece then I switched long. But you gotta be fast, I had stop orders ready otherwise I may have missed it and bought much higher.
  • TSLA holding into earnings depends on how it closes. If it can get to like 1700+ before it closes I’m probably gonna hold my position overnight, but I’m gonna be at my computer when they announce. They usually announce like 15/20mins after close, so I’m gonna be there ready to get stopped out if need be.
  • LAC bought some [20kshares] in smallest account, just incase it goes to 20 or 30 or something, this is getting seriously pumped. It’s a very intriguing stock, this thing could very easily be a multibagger. It’s been getting pumped for a while now, but this time around it actually has some momo, and it’s in a super hot theme.
  • NVAX held some small overnight bc it closed really strong, then it had some news AH, kinda didn’t go anywhere so I kept it. Went red and took out lods, adding a little to this NVAX short.
  • HTBX and IBIO potential shorts on watch. Shorted a starter IBIO orls (50kshares) [1/3] and HTBX (50kshares) [1/3]. Stopped out HTBX, doesn’t want to go down yet, higher it goes the better. Reshorting HTBX here [75kshares this time], taking out lods again. IBIO going straight down, covered tiny into flush. HTBX cracking lower, just covering in 500share increments. Covered some more IBIO here, covered 40% so far. HTBX lowering stop aggressively, shouldn’t really bounce here. Covering everything here into high 2s, found support on the rising 20ema on 60min.
  • TWTR selling 10% of position, up 4%.
  • Now we’re getting the rotation I was looking for the past week, this is what I was looking for the Oils and Commodity names, but we never got it but now we’re getting it. That’s what confused me, the software names pulled back but the beaten down names didn’t go up, they tried to then they failed. Now we’re getting the rotation I was looking for, but now I’m in the software names again, also a bit in China and the SPXL etf. Also Latin America names going higher.
  • IMRN was a nice short, really nice one, 19.50 area, and then it got rejected on the vwap, had another leg lower. Now is too late.
  • OMI, ep missed it, had no volume out of the gate, then the big volume came in [09:43am], now it’s gonna go to 20. OMI is a mask maker, just blowout numbers. This is like the efficient market hypothesis being proven wrong, like this was known, it was known their business was hot back in March, look at this early march (dantes), now they release blowout earnings, everyone wants to buy this thing. Efficient market hypothesis turned on its head, dumbest theory ever.
  • ROKU actually has a good secondary entry point here, the primary was here when I bought it, but a secondary entry, it’s bouncing perfectly off the rising 10day, just coming out of a long long range. Similar to SQ a couple on months ago, SQ broke out of a long range, went sideways for a bit, then it broke out again.
  • SHOP, if you’re asking if it’s a buy here, you probably shouldn’t trade it. Unless you have done your thousand hours studying of setups, you probably shouldn’t be trading at all, I’m just saying. I think SHOP was a great setup on this day here when I bought it [15/6/2020] bc it fit the setup criteria that I know, from 100 years going back and looking at charts, is a very high probability setup, bc I spent thousands of hours studying setups. This, today, is not a good setup. Yesterday was an okay setup, when it undercut the 20day then reclaimed, but I’m gonna be honest with you guys, if you’re asking if anything is a buy, you should probably just stop trading and spend 1000hours just studying setups. I don’t want people who follow my trades, follow my picks, I don’t wanna be a filthy alert service, I want to teach you guys how to trade for real. Build your own skills, develop your own setups, develop your own confidence and conviction.
  • CODX breaking out, just chasing it now, bought 20kshares. Got stopped out yesterday now I’m chasing it higher. Accidentally bought 40kshares, sold 12k. Not only did I chase, I chased my chase. Sometimes it works, it’s just coming out of a big range, it’s been building hls for 2 months, actually for 4/5 months but yeah, and it’s in the hottest sector there is right now. Now I wish I hadn’t scalped those 12422shares for a penny bc it feels like this thing is gonna go to 30.
  • I have experimented buying bottoms of ranges but it’s not really what works for me, I feel breakout buying is better. I find buying rangebreaks and shorting rangebreaks works best, bc then you have defined stops. Obviously you can buy dips and short pops and whatnot, but I feel it’s a much harder game. Bc you are anticipating a stock to do something instead of reacting. Like I like a stock to tell me what it wants to do, so if a stock starts breaking out of a range, it’s telling me it wants to go higher, sometimes a stock lies, but at least it’s telling you. If I’m buying a dip, if I buy after a stock has gone down, or like at the bottom of a range, it could as well break below that range. I just feel like the odds are much worse.
  • INO is in a tight tight range, this could be a good short and it could be a good long. Look at how it has been riding the 20day. If it takes out the lows of today, it’s gonna lose the 20day, next support level would be the rising 50day, 25% lower. But if it holds and starts breaking out of this high 25s area, could have another leg higher.
  • How much is enough? Well it’s different for everyone. For some people, there is no upper limit. I fear I may be in that group, like I feel like even if I get to 100M, I’m still gonna be addicted to trading. Bc it’s a passion right, it’s not a job it’s a passion, and once it starts feeling like a job, I’m probably gonna quit.
  • So yesterday I covered like 10M in shorts and went like 10M in long. It could have been a record day for me dollar amount wise, that’s a pretty big portfolio shuffle, but sometimes when the market speaks, you gotta listen, and you gotta be fast. That’s why you need well defined setups, that’s why it’s so important to have conviction in your setups otherwise you won’t be able to do stuff. You’re gonna freeze and you’re gonna panic and this and that, that’s why you need to spend 1000hours+ developing your own setups.
  • I usually trade about 4/5 tickers per day on average, been doing it for a few years, I’m trying to get it down to lower levels but, I’m just an addict what can I say.


  • Alrighty right. Ey what’s the point in trading if it’s too easy it’s no fun right? Whats the point in doing anything if it’s too easy?
  • This is the best chatroom for new traders; chasing your chase and fat fingers.

#shorting #masterclass

Scroll to Top