166 [Swing trading school coming! Jul 31, 2020]

  • QQQs gapping up here, we could go parabolic from this little flag here, pretty amazing.
  • TWTR flagging nicely after its earnings, 20day starting to catch up.
  • SQ sold yesterday, sucks, may buy it back, it’s breaking out of a big htf here, it’s still kinda just consolidating, it’s been just grinding higher, if can get in early could still be a good setup there.
  • DT looks like it’s gapping up, reported earnings a couple of days ago, had a flush, built another hl, undercut the 50day and reclaimed, so now it looks much better than it did before.
  • TSLA has been showing rw, it’s not really gapping up a lot considering QQQs, but if it starts to reclaim this mid/high 1540 area and hold, could have a big run, go to 2000. Looks like 1500 area support for now, good sign, bc we want it to build hls on the 60min if this thing wants to go to 2000 eventually. This thing is so weak, I need to go short, it’s at yesterday’s lows, I wish I had gone short this thing earlier, maybe when it went red or something. I’m short 2600shares I’m gonna do more, it’s showing rw and it’s about to lose the rising 20day, this thing hasn’t been below the 20day since early Apr2020, it’s up like 200% since, this thing could easily unwind to the 50day (1100s). Gonna use a tight stop, not hod or anything, either it goes or it doesn’t, oh it took out yesterday’s low, I’m short 3900shares.
  • PINS, may buy but I just don’t see the beauty in their report, there was no big beat, they beat rev a little bit [Q2 rev 272M, consensus 251M], ARPU us down [Q2 ARPU 70c vs 88c last year], I just don’t see the beauty, even though the chart is really good, and the volume, it’s traded it’s avg daily volume in premarket already so it could definitely go. I’m gonna trade it if big big volume comes in out of the gate and it acts well I will buy it. Bought small starter 40kshares [1min orh], may double up if acts well but feels like it’s gonna fade. Stopped out.
  • AAL shorted a little, this bearflag just looks so powerful, very tight stop [15c]. AAL really starting to breakdown now, airlines all weakening here. Already have like 6M in airline short exposure, decent position in BA, UAL and AAL, okay adding small SAVE, 50kshares, these things are just so weak.
  • SRNE going straight up, this thing is up 20%, oh they got upgraded at hc wainwright, that means an offering is coming I guess, I’ll have to sell a bit more, it’s almost up like 8% since I sold a piece premarket.
  • PDD looks good, showing rs, it is a good chart though, I’d prefer more sideways I guess. TTD also really strong, really like the chart on TTD, just breaking out of a little bit of a flag here, and it’s showing rs that’s a good thing, just a continuation breakout, potentially, I think it looks good. It’s not the type of setup you can buy and hold for several months, it would be more like a maybe hold for a week or two, but depends what the market does. So I bought 6kshares TTD, like a dollar spread. TTD looks like this thing will stop me out, too bad it was really a 4.5* setup, but sometimes when the market doesn’t agree, it doesn’t matter how good the setup is, it’s not gonna work. It ain’t gonna work.
  • ROKU, bought 16kshares, this thing is so powerful looking.
  • Let’s start the swingtrading school rn. Ok JMIA, you have an uptrending stock, it’s up 200%, goes up up up, then it pops on high volume, goes sideways gets really tight, just surfing these 10/20day, then it starts breaking out, this is like a mini flag. And this is like a very hyped stock, hyped as like the AMZN, SQ, PYPL of Africa. This is a great setup, when you have a big momo stock, this is a micro/small cap but it doesn’t really matter, when you have a momo leader, this is a momo leader. It was one of the biggest winners from the march lows, starts flagging gets really tight and has a high vol breakout, that’s exactly what you look for. Memorise this pattern, this pattern will make you millions, trust me on that one. Now look at it, it’s up like 60/70%. So most of you that have small accounts who are just starting out, you should probably sell partials after the first 3-5 days, 1/3-1/2, then the rest you just trail with the 10day as your stop, a close below the 10day that’s when you sell the rest.
  • Many of the charts I bought today, it’s all the same principal, big big move, consolidates, finds support on the rising 20day, gets tight, tighter, past week has been really tight, starts building hls and then breaks out of this range. Same thing with ROKU, had a big big move, goes sideways, flags, then breaks out. ROKU reminds me of ZM back in Feb2020, exact same pattern, has a big move on above avg vol, goes sideways, consolidates for a few weeks, builds hls, finds support on the 10day (sometimes they find support on the 10day, the slower ones find support on the 20day), and look at the move it made, now it’s $250.
  • It’s the same patterns, they occur over and over again, they happened in the 1910s, 1920s, 1970s, 1990s, and they also happen now. It’s a basic market structure, that’s how strong stocks act, usually several times in their moves, they build these flags, if you learn that one pattern you will make millions, you will make millions. This is one of my 3 basic strategies.
  • KODK, I like that it’s a set risk reward, I’m borrowing 60kshares, it may not go down today but I think it will go down. I’ll take a starter right here, SSR is on so hard to get fills into weakness. The move higher was nothing but a squeeze, it was up on nothing just pure momo. In a 20kshare starter. If it retests the vwap I’m gonna add more, but I’m not gonna go crazy, I still have an emotional attachment so I’m gonna be careful.


  • You can start with whatever amount you like, you’re gonna get to millions eventually. If you follow a setup that works and follow your process.
  • It always sucks being in a big drawdown, I’ve had many big drawdowns over the years, but that’s the difference between those who make it and those who don’t. Those who make it, they don’t give up. They just keep coming back until they succeed. Yeah, I was thinking about quitting trading everyday for the first couple of years.


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