197 [Need a panic flush for a bottom! Sep 24, 2020]

  • The SPYs almost exactly at the 100day now, this is the level been talking about for a while but we’ll see, still need a panic flush, haven’t gotten it, thinking maybe a test or undercut of the 200day could be nice for a bottom, at least in the SPYs, the QQQs I think the 100day still a valid support level. Really need that 2/3/4 solid days in a row where the market goes down, get a little bit of a panic, get these crazy people who think the markets only go up out of the markets and then we can have a nice little bottom, but that could take a while.
  • So now we’re in the middle of another bounce attempt, see if this one sticks or are we gonna run up into the declining 20/65ema on the 60min and get sold off again. This time around the QQQs actually built another hl, that’s a good sign. The SPYs are bouncing off the 100day.
  • ZM I don’t really like short idea, still showing some incredible rs. It’s holding up well but orls this thing does have some downside. Nah ZM is holding up really well, undercut the rising 20ema and now it’s building hls, showing big rs, but if it starts fading mid/late day off a tight range, I may go short some, but for now showing some rs.
  • TSLA, still have a big big position to offset my longs, I had 15kshares yesterday, covered some premarket, still have 14kshares just incase it gets some panic and goes to the 100day, this is a little bit of a hedge for the rest of my longs. If TSLA starts losing the 50day we could get some fireworks to the downside, willing to add more. Took out lods, up about 600k so far, missed the add, now have to wait for a bounce back to vwap. TSLA taking out hods, bouncing on 50day, what I’m more interested in is if it bounces and fails the bounce. Covered a little bit more shares but still have most of my position.
  • UVXY watching orhs just incase we go straight down, not big size but incase we start seeing some panic, UVXY could start zooming higher. Went long some UVXY hods in case we get some panic.
  • FVRR sold yesterday when it had this ugly close, sold it for a small profit, it was a tiny position, I don’t like watching those tiny positions, they take so much energy.
  • SPI, this could be a no brainer short, ah halted, I tried to get 50kshares but couldn’t get more than 16kshares so I didn’t. I didn’t realise this thing was up 4000% yesterday, holy sh*t.
  • For now pretty much every long in my portfolio trying to bounce, that’s a good sign, if they start taking out lods, if they fail their bounces, I’m gonna size down everything by 1/3, maybe even 1/2. Bc you never know how low the markets can go, if they don’t bounce here look, we could go down another 10% in a few days, you never know so you gotta play careful. Moving a bunch of stops to lods, already sized down MDB and CRWD.
  • You can clearly see which stocks are holding up well, like SQ, once we get a market bounce this thing is gonna go to 200. How do I know? Bc it’s telling us, it’s screaming to us it wants to go higher, screaming it to us, all we have to do is listen. Now is the time to see which stocks are holding up the best, those are the ones that are gonna go once this correction ends.
  • Down markets are where the fun stuff happens, bc after you’ve have a correction of 10/15%, the odds are pretty high you’re gonna get an upwards move. That’s the time to pay attention, when the markets are down.
  • How do you avoid drawdowns? You don’t, you don’t, drawdowns are a feature not a bug, but the key is to keep the drawdowns are small as possible. That’s why I short, gives you smoother returns. You don’t have to do one or the other, to make money.
  • I short parabolics, I also short bounces into MAs, breakdowns also sometimes, depends.


  • This is how we separate degenerate gamblers from degenerate gamblers with stop losses. Exactly.
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