191 [Dead cat bounce or next leg in bull market? – Some really good setups triggered! Sep 15, 2020]

  • Covered last of TQQQ and TSLA yesterday orhs, TSLA is up 13/14% since covers yesterday. TSLA is straight up since back up near aths, what an amazing stock, guess I should have bought it. TSLA I am thinking about maybe watching on the short side, for a shorter term trade, it’s up 30% in 4/5 sessions. If I see a really tight setup I’m gonna do small size, this is not a conviction trade on the short side absolutely not, I think it could have a little bit of a pullback, but it’s more of a shorter term/daytrade type of a setup. Gonna rewatch TSLA, if it starts breaking lower, like its testing vwap rn, if it fails here then starts losing that 433.40/50 area I’m gonna short some with a tight tight stop. Just incase the market starts pulling back, I wanna have some short exposure, bc I’m kinda heavily long, it’s gonna be a little bit like a hedge almost.
  • Bunch of good long setups, I like PDD, looks great on the daily, on the weekly, look how good it looks on the weekly, look at this flag on the weekly, imagine this is a daily chart. TME looks good also flagging on the daily and weekly, bit of a slower name. VEEV looks good, flagging nicely on the weekly. ROKU gapping up on an analyst upgrade, looking good, remember pre correction this was one of the strongest stocks, now it pulled back, bounced twice off the 50day. LVGO bouncing twice off the 50day. DT looks great on the weekly, look how tight it’s getting, surfing the 20weekly just like PDD. MDB also, looks sloppy on the daily chart, but on the weekly, look how tight it’s getting, these are great if you’re position trading like I am a lot.
  • The only thing I’m a little bit worried about, the QQQs running up into the declining 10/20day, they key is to see how it acts once it runs into those resistance areas, that will determine if this will be a dead cat bounce or the next leg up in the bull market. Same thing with the SPYs. So I’m cautiously optimistic, and as long as we get new setups that’s a good thing, the more setups we get the higher the success rate will be for the markets.
  • I don’t trade using the weekly, I still trade using the daily chart 99% of the time, bc you still want to see a good setup on the daily and the weekly preferably. Sometimes something doesn’t look great on the daily then you look at the weekly and it looks perfect, so I kinda use both the charts.
  • TTGT yeah it’s a bit slower name but the setup is really good, getting really tight here, good setup I like it.
  • Bought some UAL and SAVE orhs, airlines are very strong, so tight, just breaking out of their weekly charts. Stopped out, I knew I shouldn’t have bought these things, stupid airlines, why be in airlines when you can be in the software and internet names right?
  • Cruiselines, it’s kinda funny how they all got rejected off the declining 150day, NCLH couldn’t break above it, RCL got rejected at the 200day for now, and CCL also 150day. These MAs work both ways, they work as support and they work as resistance on momo stocks.
  • PLUG, buying starter.
  • BILI, just bought 35kshares.
  • NIO what a beast, this thing broke out of a htf yesterday, it was one of the stocks that showed the most rs during the correction and yesterday it broke out of a tight tight candle [11/9/2020]. If you didn’t identify this setup, if you didn’t get excited about this setup on Friday after you did your nightly scans, you’re doing something wrong, you need to study setups more. This is a htf, you can clearly see, if you compare it to the COMPQ, this thing barely pulled back, bounced perfectly off the rising 20day, got really tight, then it had a breakout yesterday, orhs that was the entry.
  • ETSY looks like a bearflag, this thing is showing big weakness, so far it hasn’t been able to bounce at all with the markets.
  • RNET, that’s a good setup, it’s very thing, but if you have a small account that’s fine, this is a 5* setup. Look at how beautifully it’s surfing the 20day, had two tight range days, and today it’s attempting a breakout. Very good setup.
  • TUP, omg wow, that’s what a good setup is supposed to do, this is a htf, and the funny thing it kinda closed weak on the breakout day [27/8/2020], but there was a secondary breakout this was also kinda a decent setup [31/8/2020]. This thing didn’t even pullback in the recent sell off, this is what a good setup is supposed to do, ideally, not always obviously, but if you can catch a couple now and then those are really gonna grow your accounts, and that’s why you need to be in fast moving stocks, stocks with an ADR 5/6/7/10%+. That’s how you grow your account not being in slow stocks. A lot of people got shaken out of TUP, I can see why, bc you had several breakout attempts, but the key to look at is it kept building hls, this is why you should never put a stock on a do-not-trade list or something stupid like that, you should keep stalking it, bc as long as it’s building hls, it’s fine for a stock to fail, what you wanna see are hls. Sometimes getting stopped out of something a couple of times, it’s usually an even better setup, eventually, if it gets tighter.
  • I have some examples where I got stopped out a couple of times and then the setup became even better and then it went, made a big move, one was BILI, I think I traded it here [8/6/2020] got stopped out, here [10/6/2020] got stopped out, then I rebought it and finally boom, bc it kept building hls, and boom it went and went up 42% in a couple of weeks. LVGO too, attempted breakout here [3/6/2020] stopped out, here [10/6/2020] got stopped out, then I rebought it here [16/6/2020] and look at the move it made, more than doubled, up 130% in like 1.5months.
  • GOGO, decent looking setup, 4* setup, bouncing perfectly off the 10day, surfing it.
  • STKL, yeah good looking setup if you got it on orhs, like 7.20/30s. Good setup here and this setup was very similar, look how nicely it kept surfing the 20day, building hls, getting tighter, and now it has a breakout, this is a 5* setup.
  • VSTO, ya in a couple of days absolutely. This thing had several really good breakouts, really nice looking one here, and now it’s bouncing, undercut the 50day and reclaimed, built hls and now it has kind of a range here, if in a few days it breaks out would be good, absolutely.
  • TSM, you shouldn’t be trading this thing it’s just way too slow, but the setup is really good, again you have to be in on it early, sub 82 was the entry on this thing, but yeah 5* setup, this is the type of stocks you wanna find just with a higher ADR, 5%+.
  • BE, nah I want to see more tightness usually, like when I bought it here [13/8/2020] it was tight for several days before the breakout, but now it’s kinda loose, yesterday and the day before were very loose days, usually want some tightness.
  • SQ just a champion oh man, I put my whole account in this thing on the 1min orhs in my imaginary account, I went all in on margin 146.55 in my imaginary account, my imaginary account is twice the size of all my accounts, and I went full long margin on this one.
  • My returns have been a little bit over 300% per year since 2013, pre tax and pre expenses, a little bit over 200% after tax and expenses. That’s how you go from a few thousand dollars to tens of millions, you gotta aim for big returns, if you’re trading and happy getting 50% per year you’re doing it wrong, you should aim for multiple hundred percent per year at least, especially if you have a smaller account. I have no idea about my weekly numbers, I only care about my annual returns, everything else is just noise.
  • You should always keep track of the market, you can never leave the market, if you wanna be a successful trader you can’t really leave the market, I really don’t think you can. Now obviously you don’t always have to trade all the time but you always have to kinda track the market. You never know when the next big rally starts, you never know.
  • NNOX, keeps going lower, citron wow they had juice on this one, I had it as a short setup yesterday but I stopped tracking it when I saw it gapped down, but I guess orls was the trade on this thing, then it had a fade late day also, it tried to rally failed at vwap then it took out this intraday lows, fade into the close. Too bad it opened red on the day, if it had just gapped up a little bit, I would have been all over it.
  • MGM, this is a good looking one, looks good, I like this one, I like how it undercut the 20day and reclaimed, kept been building hls, has a range here and today it’s breaking out. I really like it, very clean chart.


  • They’re making fake twitter accounts with my name? So it has begun.
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