185 [Tesla and $TQQQ multi million dollar shorts? Sep 2, 2020]

  • Crypto related things are gaping down, BTC is trying to find support on the rising 50day.
  • Maybe I’ll short TQQQ, if we get a good setup, if we get a pullback in the market this TQQQ could pullback 20/25% very easily. I think the next pullback we get will be to the 50day in the QQQs, we haven’t tested the 50day once and now we’re starting to accelerate, but that’s the hard part we don’t know, we could speed up even more and go to like 340 in a straight row, so you gotta wait for some weakness, then do some very small size until it starts confirming. Took a starter orls, will add more if I see some confirmation. Added more, have 22kshares now. Shorted another 10kshares.
  • TSLA I got stopped out, then I reshorted when it kinda failed to go higher, started building lhs. TSLA needs to lose this 20ema on the 60min, it’s been bouncing off that this whole run, if it loses that we’re gonna test the rising 10day. Added a little bit more orls, short 18kshares now, straight down, key area, is it gonna undercut and reclaim again or are we actually going to lose the rising 20ema? Holy sh*t, straight down, I don’t think the 10day is gonna even matter, gonna slice right through, I think the first target is gonna be the 20day and second the 50day, so I think it has another 15/20% downside. Taking out lods, still have 16500shares, need to cover some more, okay down to 15kshares.
  • SHLL, it’s setting up, if it closes strong today maybe I’ll watch it tomos for a potential short, looking for overextension, but it needs to get more extended, I want this thing in the 70s or something before I short it.
  • PTON, am I bullish on the earnings? Who the hell knows, but even if the earnings are great, the stock is just really extended, needs to be coming out of a base if you wanna buy it. It was a really good overextended short opp today orls, the 1min candle lows, you could have risked like 80c, liquid and nice stock.
  • I don’t think breakouts are gonna be a good idea over the next few weeks or even months, just a lot of things starting to fade. If you want to make tens of millions you need the ability to sit out, you can’t trade all the time, you can’t trade everyday, sometimes you can’t trade for weeks. Best 6 month period since the late 90s, a little bit of pullback is just normal price action. I’m selling down, stopped out LVGO, just gonna sell PDD, selling ZS too. If you haven’t noticed yet I’m playing defence rn.
  • Remember it’s not the most active trader who wins, it’s the most patient trader who wins, you gotta wait for those spots. It’s great I hope we get some choppiness for at least a few weeks, pullback action for a few weeks, so we can create some new bases on a lot of stocks.
  • I’m gonna show you guys something, I did a market study. Dow Jones, I just pulled up the DJ-30, and looked at the quarterly chart, you can go back and look at the DJ from 1950. So out of the 102 years, there was 56 red quarters, excluding sideways red bars, 14% of the time, the market went lower over the past 102 years, so that means the market has gone up or sideways 86% of the time. I did a more recent study on Nasdaq, from 1970s, and I pretty much just market periods that were good for swingtrading, and periods that we tough, my conclusion is COMPQ has been in favourable conditions 62% of the time, that means up, and 38% of the time it’s been going down or sideways. The average bullrun lasted 9.4months, and the avg unfavourable period lasted 7.2 months, and we are like 6months in to a very very good period, and the median good period lasts for only 7months. So if someone tells you stocks only go up, it’s not really true, stocks go up and down.
  • Guys it’s not rocket science, if you double your accounts, you double your size. You just do it systematically, you risk 0.3/0.5/0.7% per trade, sometimes you risk more bc you see something really good, and then just increase your size, it’s not rocket science. Don’t get enamoured by these big numbers, a few hundred thousand today for me, it doesn’t feel any different than a few thousand was earlier, or a few hundred even earlier, there’s no difference. It’s all relative. You can’t compare your size with someone else’s, there’s absolutely no difference, if you risk half a percent of your account on a trade when you have a $5000 account, it’s absolutely no different than risking 0.5% when you have a 10/20/100M dollar account, there’s no difference, there should be no difference in emotions, it’s the exact same thing.


  • Guys I’m gonna go look at a new boat today, 54feet. You know what they say about boats, cars, planes and women? If it floats, flies or f*cks, lease it? It’s like today’s profits, thinking of it that way, that’s what the boat costs. The boat I’m gonna look at, the current name is happiness, but I’m gonna rename it brandi love.
  • The Stockholm archipelago.
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