196 [Leaders leading. Sep 23, 2020]

  • That’s a lot of thinking, I have no idea, the correction may be over, we may get rejected here on these declining MAs, idk. I am kinda heavily long again, yesterday bought position in FVRR and NIO, and TWTR.
  • TSLA think could be a short if it runs back into the high 4teens/low420s and gets rejected there. May also do some TSLA short orls if it can’t rally. TSLA starting to rebreak, [short 10kshares] let’s see if I got suckered in on TSLA again. Nice, next stop 50day. I took a 60k loss on the first short attempt, now I’m kinda breakeven on it. Looks like it got rejected off the vwap second time, now looks like it wants to take out the lows, I may add to my short later, I don’t want it to breakdown yet, maybe a bit later I would add another 5kshares. It’s right at premarket lows, if it can chop around here for a few hours, then we start breaking down mid/late day that would be ideal. This thing could very easily fade back to the 50day, they really didn’t like the battery day so far.
  • ROKU, can’t believe I missed that thing, I was in it here [15/9/2020] but got stopped out and then it went.
  • JD, got back into too, has been holding up pretty well.
  • LAC is a position trade for me, gonna use the 50day as a trailing stop.
  • Choppy markets, just stick to the 3-5day rule, bc you don’t know when a choppy market ends, just stick to the rules. In a choppy market if you’re unsure it’s better to take smaller size and pass on more setups, rather than modify your sell rules, imo.
  • SE, looks pretty decent, I think it wants to go higher. Look at how it’s been building hls for many months, surfing the 20day, can barely get below the 20day, looks pretty decent.
  • NIO gonna get stopped out, it’s an intriguing one, I was long it from here [14/9/2020] got stopped out two days ago, I bought back in yesterday, it’s kind of a htf, really powerful setup, getting tighter and tighter. Got stopped out of half, if it takes out yesterday’s lows gonna sell the rest, I wanna see if it can build another hl on this little pullback, bc as long as it builds another hl, the setup’s gonna be intact.
  • Weakness in QQQ, I don’t like the fact we got rejected on the 65ema here, that’s been the point where the index has been getting rejected throughout this whole correction. We also happen to be at the 10day and below the 50day, I don’t like it getting rejected here. But we’ll see, leaders are mostly very strong still. The markets could chop around here sideways and these leading stocks could still keep going up, but obv if we have a big move lower most of these leading stocks will probably stop us out.
  • TRUP is a really good setup, look how nice it’s been surfing the 20day, and now it’s just surfing the 20day building hls, just can’t get below, getting really tight here, this is pretty much a 5* setup.
  • EAT, this one I saw on the scans, too thin for me, but if it can take out hods could be a good setup.
  • CGC it’s breaking down, it’s a pos that’s breaking down, this thing hasn’t had momo in a long long time, nothing going on here. TLRY, it’s a dead sector, people love this sector but the stocks are pos, they just keep going down, there’s no reason to buy something like this unless it gets momo. TLRY actually had some setups here [24/4/2020] and here [21/5/2020] but then it got rejected on the declining 100day just like it got here [Jan-Feb2020] and here [Aug2019], now it’s fading again, just the whole sector is an avoid.
  • ZM, I’m putting on my radar, I’m not gonna short it today but maybe starting tomos, this thing is straight up, it’s gonna have a pull back sooner or later, but ideally it keeps going to 550/600+ in a straight row, the more green days we can stack up the better.
  • TWTR, what a trade, this is what a breakout should do, this is what a good breakout does, holy sh*t. This is what a good setup should do, it should go straight up from entry. A good breakout never comes back, these are the stocks you wanna be in, you don’t wanna be in the stocks that breakout and dip, okay it could dip and then go, but the chance of failures is much higher, bc you’ve guaranteed buying a weaker stock, you guarantee yourself you’re gonna miss most of the best movers, bc most of the best movers never pullback. So dip buying makes no sense, unless you buy dips to the major MAs, 10/20day etc that’s another thing, but if you want to buy a breakout, you should buy a breakout, not waiting for a dip.
  • If you study thousands of leading stocks over the past 100years you will see the same patterns occur over and over again. You get these types of patterns; like triangles flat tops, higher lows, you get stuff like this (lower highs higher lows), you get channels, these are the patterns that occur over and over again. Let’s look at TSLA, you get here flat top higher lows, here another one lower highs higher lows. Then you have something like PINS, channel. Now NIO, CRWD, MDB, FSLY, ESTC, same patterns over and over again, some of them are not super obvious. Z, when I first bought it here, channel, then you had a base on a base, small channel, this is where I bought it initially then I added on this day here.
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