18 [Markets breaking out and my accounts too! Oct 28, 2019]

  • TIF shorted some pm, low 129s using a dollar stop, thing could fade back to low 120s or something not gonna cover any yet. TIF starting to fade a bit more, added to short gonna lower stop. TIF covering tiny, I really think this goes to low 120s today, had some buyout rumours not sure it deserves to be up 30% on the day. TIF found some support on this 1min 20ema, if it reclaims vwap I’ll get stopped out. Stopped out of half. Now it’s firming up again, still up a little overall from pm entry.
  • XNET having follow through from yday, gonna watch it throughout the day, have 50kshares located but ideal scenario goes to 7/8 today and tomos we get the trade. XNET reclaimed vwap for now. XNET wow what a beast, I may start stalking for a potential short, is up 200% China blockchain stock. XNET still holding above vwap, idk I really want this thing to bounce back to mid 6s and then maybe look for a setup, I’m not sure about it here still early in the day.
  • GLD failed breakout so far, fell back into its range.
  • JD gonna buy on orhs. Stopped in 20kshares, using lod as stop. Damn stopped out that was fast, couldn’t hold the breakout. JD okay stopped in again.
  • SWN bought some, it’s an o&g name, looks really good has established a bottom so far, pulled back held the lows, now it’s kinda flagging on the weekly it’s just taking out declining resistance, just like early 2016 I think it looks kinda similar here. Lots of beaten down names look really good, they have lately bottomed and now flagging.
  • GBTC very strong, had an insane move Friday up 23%, undercut the rising 200day then it rallied.
  • BRZU will sell some soon, just selling a little bit at a time, this has been a homerun so far, up over 90k on this thing now, this is what trading is all about, I bought it orhs, actually chased a little bit 29.30s my avg, bought this gap up when it broke out of this long range, my risk was 40c and I’m almost up $4 on it. This is what trading is all about, you can be wrong 8x and still make money, it’s all about r/r, you need to find the scenarios where you can get great r/r and then you just sit and wait do nothing, first you wait and do nothing and find your setups, and then you buy/short your setups and wait and do nothing other than scale out and move your stops.
  • RLGY having a strong strong day, I’ll sell some 9.30s, I took 2-3 20c losses trying to anticipate the breakout and I finally nailed it, and now I’m up $2.20 on it, one winner can pay for so many small losses, that’s what trading is all about, small losses, big winners.
  • TSLA if it keeps going up closes above 140 today then has follow through tomos am could be a daytrade short, could easily have a $10/15 pullback intraday, very daytrader friendly stock. Look at this range on the 60min, was an entry here late day when it broke out of this range, in hindsight you can see it had hls intraday, the clues were there.
  • The markets have been going sideways for many years, SPYs are up 5% in 2years, COMPQ about 10% in 2years, IWM down a few percent, so that’s another thing that could fuel a potential rally, we’ve been building solid bases, every time the market, at least over the past 20years, has been going sideways for at least 2years in an uptrend, we’ve gone higher. Every time the market has had a big 1/2year base there has been a 1-2year rally following that.
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