• Gap down, SE and NUGT gapping down below stops, gonna get stopped out of a bunch of things. If stop is triggered, If it’s liquid enough to sell premarket you should sell as fast as possible, if it’s not liquid enough then you should sell, again, as fast as possible.
• The good news is we are just a couple of days of selling away from some nice support levels, thinking mid low 250s on QQQs could be a nice bounce spot potentially [100day], if you’re thinking about aggressively shorting here and now that’s not a great idea. Best case scenario if we get two/three days more selling, go straight down undercut the 100day, get a clean move then get a decent bounce back to the 50day or even the 20day, that would be ideal.
• Slow meltdowns are the worst, the best corrections are when the market goes straight down, they’re so easy bc you literally have no setups, there’s literally nothing to do. And when the market is in free fall you know there’s gonna be some good upside eventually.
• NIO bouncing right off the rising 20day, look at how clean this thing is, I love trading charts like this. So far bouncing nicely, gonna use today’s lows as stop.
• SPOT yesterday, undercut and bounced off the rising 100day, actually went green at one point, looked like death when we looked at it on stream in the low 230s/high220s, was a big red candle when it bounced.
• TSLA, gonna watch for a potential short later mid/late day if it keeps showing rw, like if the markets keep bouncing and TSLA cant bounce, that would be interesting. Now it’s right below the 20day, if it can’t reclaim that.
• LVGO showing some rw, shorted some 50kshares, it’s just losing the 50day, this thing hasn’t been below the 50day since mid/late March, so next support on it could be the rising 100day, 23% lower. Stopped out.
• I buy rangebreaks, not some random r/g or anything, if there’s a rangebreak I’m gonna buy it.
• I either add as fast as possible or I wait for the next setup, I usually don’t do starters on my longs, I usually buy my full position, I only do starters on shorts.
• ETH is building hls, it undercut the rising 50day, but it’s not going away and building hls, there’s a potential setup here.
• NEXT on 14/9/2020, kind of, these types of stocks, these micro/nano caps, they can be a bit fast, I would have preferred a few more days of sideways but obviously it went higher.