CELH looks like an amazing setup for those of you who were awake at the open. Absolutely amazing breakout, tight range, big momo stock.
Yesterday pretty much all the leading stocks had a breakdown candle, really didn’t like the price action so I got stopped out of a lot of things yesterday. I sold CRWD, DDOG and BYND, BYND didn’t close below the 20day but I sold it anyway, kinda anticipated it, everything looked so crappy yesterday so I just played defence. You never want to see so many leading stocks breaking down at the same time, it’s find if there’s only one here and there, but literally all of them broke below major MAs yesterday so that’s never a good sign, I really didn’t like the price action.
PTON shorted yesterday, my entry was low 127s, I had two entries on it.
SNAP had an ep yesterday, you can clearly see the volume out of the gate, I passed on it I didn’t think it was gonna have follow through, looks similar to PINS a couple of months ago, had a couple nice days then it kinda went sideways for a few months before it setup again.
ALGN also an ep, these things pay attention to them, the ones that beat the earnings and have really good earnings and rev growth, if you can catch them orhs, first 1min candle high, or these things you can also daytrade, so many ways to can trade these things, just need to have a little bit of imagination. This is one of the best long setups in the market, SNAP yesterday and ALGN today, these earnings gappers, these are one of the best daytrading long setups if you get them early, this is the second most profitable long setup for a daytrader.
TSLA, really tight, reported earnings today and selling off, got rejected on this upper end of the range here, but it’s getting really tight. If it has a bounce to vwap mid/late day and then fails at vwap, I may take a small short position, and then hold it it it closes weak, bc the next pullback this thing is gonna pullback at least to the 100day here, 20% lower, maybe even the 150day 35% lower, if we get a real washout.
JKS can’t believe I missed, was pretty much a 5* setup, but I couldn’t get back in a second time, unbelievable, I can’t look at this thing. Wow this hurts, I took an 84k loss on half size out of the gate, it took out the 1min orls, that’s where I shorted it 40kshares, then I got stopped out orhs, took a $2 loss on it, then it went higher then it just went straight down, and I couldn’t chase it here, I should have reshorted orls half size but I couldn’t do it, I wanted a bit of a pop.But there was a secondary entry on it, when it failed at vwap midday, this was a perfect perfect looking entry, exactly what you want to see, a breakdown, bounce into vwap and you can clearly see this flag, it got rejected off the vwap, started building lhs, then it took out this range, there was such a beautiful secondary entry there. I was literally telling you guys on the stream look for a vwap fail, and then I missed it.
I’m 32, I’m in a millennial body with a boomer brain and boomer reflexes. If you’re a rookie it’s okay, you’re gonna learn, but if you’re someone like me, this is one of my three main strategies I trade, and when you get a 5* setup like that and you f it up so bad, it’s kinda not okay, it hurts, and it should hurt you know, that’s how you learn, you learn from pain, that’s how you get better, and sometimes you f up anyway.
KNDI, yeah some bottom of the barrel stocks are setting up, some random micro caps here and there, it looks like a decent setup, if it can break out, it’s a hot sector etc, breaks out with volume could be nice.
PENN, it could work, there’s no support until this rising 100day 20% of downside, with hod as stop it could work, it’s another momo stock that’s breaking down, this thing is still up 1400% since Mar2020 lows, I kinda like this idea. I just shorted 35kshares, little bit more than $1 stop on it.
NIO, this could be a good short setup, especially if TSLA keeps breaking lower, I’m long but thinking about switching short, there’s no way this thing is gonna hold up especially if TSLA starts breaking down, it’s gonna go back to 20, I have 1/3 of my position left, so yeah I got rid of it, playing defence here. Just shorted 100kshares, risking like 35c and if it pulls back could easily pullback like $5, that’s a really good r/r that’s what you wanna go for. I don’t think it’s gonna hold up with all these other things breaking down, you know what, just shorted another 100kshares, gonna use a tight stop on these adds. With everything that happened yesterday, nothing is gonna hold up if we get a sell off, gotta put things into perspective, I’m taking a calculated risk here, not even risking a big amount, but it is a decent sized position bc it’s such a tight stop.
LI, gonna sell, not even gonna wait for a close below the 10day, this is another China ev name, I’m not even gonna wait for these. Usually what I do it wait for a close below either the 10/20day, but when you see this many breakdowns happening at the same time I just wanna play defence. It would be another thing if all the other stocks in my portfolio were fine and just one or two were weak, but when you see so many at the same time, it’s kinda a dangerous scenario, you wanna play defence.
If you look at the last pullback we had from early to late Sep, most stocks till held their major MAs, they still looked good, they pulled back to their major MAs started building hls, but rn I just see a lot more downside in these leading names, not really a great breakout trading environment. Yesterday was kinda a breakeven day, and the leading stocks most of them were down on the day, broke down, that’s really not what you wanna see. When we start seeing a market environment where the market is down or b/e on the day and the leading stocks are green on the day, that’s when you know the market may be getting better again.
looks similar to PINS a couple of months ago, had a couple nice days then it kinda went sideways for a few months before it setup again. 
If it has a bounce to vwap mid/late day and then fails at vwap, I may take a small short position, and then hold it it it closes weak, bc the next pullback this thing is gonna pullback at least to the 100day here, 20% lower, maybe even the 150day 35% lower, if we get a real washout. 
Wow this hurts, I took an 84k loss on half size out of the gate, it took out the 1min orls, that’s where I shorted it 40kshares, then I got stopped out orhs, took a $2 loss on it, then it went higher then it just went straight down, and I couldn’t chase it here, I should have reshorted orls half size but I couldn’t do it, I wanted a bit of a pop. 
But there was a secondary entry on it, when it failed at vwap midday, this was a perfect perfect looking entry, exactly what you want to see, a breakdown, bounce into vwap and you can clearly see this flag, it got rejected off the vwap, started building lhs, then it took out this range, there was such a beautiful secondary entry there. I was literally telling you guys on the stream look for a vwap fail, and then I missed it. 
I don’t think it’s gonna hold up with all these other things breaking down, you know what, just shorted another 100kshares, gonna use a tight stop on these adds. 
With everything that happened yesterday, nothing is gonna hold up if we get a sell off, gotta put things into perspective, I’m taking a calculated risk here, not even risking a big amount, but it is a decent sized position bc it’s such a tight stop.
