186 [Finally a froth reset! Sep 3, 2020]

  • TQQQ had a big short yesterday orls, had like 35kshares, was up about 300k on it near the lows, covered some then it had this big big bounce stopped b/e on the rest. Then I reshorted some premarket, I think if we get a pullback this thing is gonna go straight down to the 50day, maybe even the 100day. Taking out lods, short a total of 41kshares from premarket and orls. Woah I need to cover some more. Holy sh*t, those premarket reshorts were really nice, covered a few more still short 35kshares. I’ve been looking for a pullback for a while now, premarket I started seeing some backside, I saw the gap down and the 10/20ema on the 60min started sloping lower so that was early signs of potential backside, then I added more orls.
  • TSLA since it closed fairly strong, above the 10day, I covered 4kshares before the close and held only 10kshares overnight, and now it’s gapping down a sh*t load, but I think this thing is gonna go to the 50day too. Lowering stop on TSLA. Yesterday TSLA showed rw, today it’s showing rs. If this thing builds lhs in the day, then builds a tight range and starts breaking down later in the day, there may be an add spot there, but we need to wait at least 3-4hours I think. Reshorted on this first red 5min candle, it rallied into this 440s resistance area, gonna use the highs here as my stop. We have a nice range for tomos, this 405, hopefully it can trade here in the 410/420 area for a while, build some lhs then we get a nice little rangebreak here 405s, that would be nice. This stock is technically really nice, we got a rangebreak here [470s] went straight down, then we got a shorter rangebreak here [440s] went straight down, now we have another range here [405s]. Same thing as we got these ranges to the upside, clean ranges, it finds support on the 20/65emas when it has upside momo. Now it has downside momo, so the 10/20/65emas are acting as resistance not support.
  • SPAQ bought some of this yesterday, the whole sector is hot.
  • TNA also bought some [100kshares], seeing a lot of trash stocks starting to rally, GME, TUP. I thought maybe we get a few days of a trash rally before everything starts selling off.
  • RKT big gap down, what a move from yesterday late day. Oh RKT had earnings, there you go, this thing has insane numbers, PE 14 are you kidding me, oh but they are looking at neg growth next year okay.
  • GBTC sold all, just not acting well technically, totally lost it’s momo.
  • BYND what a move. It’s just like when ROKU was upgraded too, similar charts, it kinda lost it’s momo but it went sideways in a tight range, then they got an upgrade and then broke that range on big big volume and it’s still going higher. Any kind of news can move a stock, I prefer earnings and earnings guidance, but analyst upgrades can also sometimes have an impact. It could be political stuff, macro stuff, any type of news can move stocks. But what you need to do is focus, either you focus on news type of stocks or you focus on a type of breakout system like I’ve been teaching, there’s so many ways of making money in the markets, the key is you need to focus on something. You probably shouldn’t focus on more than 1-2 setups especially in the first few years, until you’ve mastered one setup there’s no reason to focus on several.
  • Market cap is irrelevant, all you need is momo and liquidity. But generally yeah, bigger stocks have more liquidity.
  • Easy to evaluate if it’s working, if you see green pnl it’s working. But if it goes against you, you want to see hls if long and lhs if you’re short.
  • NVDA is straight up since the march lows, look at how nicely it’s been surfing the 20day this whole move. There’s a reason I use 10day as my stop for the fast moving stocks and 20day for the slow moving stocks, this thing hasn’t closed below the 20day since 23/3/2020, it’s been undercutting the 20day a couple of times but it’s never closed below it. There’s a reason I use these MAs, this is how the leaders move, they don’t close below the 20day for a long long period of time.
  • OSTK this is now momo stocks act, look at how it acted on the frontside, the 20/65emas on the 60min were acting as support levels, look at how nicely it surfed the 20ema, then it pulled back found support on the 65ema. Then it just kept surfing the 20/65ema, found support perfectly every time, that’s what frontside looks like. This is what backside looks like, it can’t get above the 20ema, the 20ema sloping lower it can’t catch air above it. NVAX looks the same, surfing below the 20/65ema and today it got rejected on the 65, this is how stocks move, don’t ask me why, it just works, these MAs they just work on momo stocks. They don’t work when a stock is just a random sideways or slow moving stock, it needs to be a momo stock.


  • Yeah I short through centrepoint, I wish they had some kinda smart route, bc I’ve used the IB smart route, it’s really good, I like it. I’m using like ARCA smart or ARCA SNP. I’m so bad at routes I don’t really know.
  • Randcorp trolled me, that guy looks like he may really live in moms basement. That may be my first troll. I don’t think I’ve ever muted anyone before. Now I’ve truly made it.
  • I’m a short/intermediate term trader, long term I literally don’t know anything.
  • Once you’re scammed once, it won’t happen again, you’ll learn. I think everyone needs to be scammed at least a couple of times, just so you get those red lights in your head, and the younger you are when you get scammed the better I think. I think it’s healthy to get scammed at least a few times.
  • Brandi’s t*tties are frauds? Okay where’s the ban button. What’s that site, cameo, is Brandi Love here? Oh yes, she’s gonna be our mascot for the stream, she’s the great grandchild of Jesse Livermore, the most famous trader who ever lived. This is unreal, I’m gonna make a request. Maybe she has some stories, like family stories, maybe there’s some wisdom from Jesse Livermore that’s been passed down the generations.
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