220 [The last of the leaders breaking down now. Oct 30, 2020]

  • CELH is such a great looking chart, truly, just exactly what you want to see, hls, big growth big momo, surfing the 50day, has been holding up well during this correction, this thing could go to 40.
  • LVGO has stopped trading, so now it’s only TDOC. I was more excited about the LVGO chart.
  • TTD looking beautiful, that’s why I bought some yesterday, but again this is not great market conditions to buy these kinda breakouts, most of you would do better if QQQs reclaim the 10day, bc rn we’re still in sell the rally mode, every time they rally they get slammed down. Stopped out TTD, that’s what happens when you buy breakouts in a choppy market, that’s what happens.
  • Some of these corona names have insanely good looking earnings numbers but a lot of it is priced in already. MRNA had 828% rev growth, OPK today 136/86.
  • APPS insanely good earnings [200/116] but the chart needs to shape up. QDEL insanely good earnings [726/276], but again a lot of this is already priced in, but if it can go sideways and build a base here for a while, could be good. AMZN had insane numbers [192/37].
  • FIVN looks good and it’s gapping up, but it’s a very hard trading stock, more of a buy the pullback type stock, exactly like ZEN, rarely performs well off breakouts.
  • Shorted TSLA orls, pretty decent position with tight stops. Covering some here into lows.
  • AMZN is right on the 20weekly or the 100daily, could have been a short orls when it broke below this big range, wasn’t paying attention. I don’t like the fact the biggest leaders are starting to break down, stuff like AMZN, would be bad if it can’t find support here on the 100day, last time it found support exactly on the 100day. Covering on shorts, well always cover some into weakness, and use some kinda trailing stop, but usually on the shorts I use either the 10day or some of the 60min like the 10/20ema.
  • TUP, what a beast man, who the hell would have thought we get a decent market correction and TUP becomes a leading stock wtf, this is like 2020 in a nutshell, you can’t make it up. The stock market is really stupid man, once you figure it out, you would think it’s really advanced and everything but the stock market is really stupid it really is, the problem is you have to realise it’s stupid, you can’t think you’re smarter than the market. You have to realise the stock market is really stupid, it has it’s moods, most things don’t make sense most of the time especially on the shorter timeframes, in the long run most things make sense, but in the short and mid term most things don’t make any sense and you have to realise that, you can’t think you’re smarter. You kinda have to play along, that’s the key to the stock market, you kinda have to play along with stupid games. Markets are never wrong, they can be stupid but they’re never wrong.
  • The market has been acting like crap for like 3 weeks straight, every time it tried to rally it got sold off. An easy easy market filter is just use the 10/20day, if the 10day is above the 20day and trending higher that’s a very good market, if the 10day gets below the 20day you should be a bit cautious, if the 10day starts sloping down be more cautious, if the 10day and the 20day slope down and the 10day is below the 20day you should probably not buy any breakouts at all. That’s a very simple, very robust market filter. I wish I followed it, yesterday the 20day started sloping lower, the 10day had already been sloping lower and the 10day actually crossed below the 20day, yet I still tried to buy some breakouts, I shouldn’t have done that, I would have saved myself half a M if I had just followed my own rules. But the patience game is the hardest part, anyone can learn setups, anyone can learn the perfect entry points, but the hardest part is the patience. If I see a good setup I just can’t help myself sometimes, and that’s okay, you have to realise you’re gonna make a lot of mistakes.

Misc:

  • Bat formation, is this bullish or bearish? This is slightly r*tarded bat that’s why one of his eyes is larger. A bat formation is battish for the market? I’m gonna keep this bat formation, it has to hold this left wing, this is the left wing from the bat’s pov, so if we follow the bat formation rules this is where the market should bounce. Also lines up with the 150day. It’s 2020, bat formation is a real thing, have to keep an open mind. There was another bat formation Jul-Oct2019, this one actually resolved to the upside. If you look closely there are bat formations everywhere.
  • Anton Kreil, you know someone doesn’t make a lot of money trading when they start selling a bunch of trading courses. His trading school got prosecuted for false performance claims, there you go.
  • MM idk there’s something wrong, he should be worth a few hundred M at least, yet he’s marketing these sh*t stocks on twitter. His books are really good, but i don’t get it, something fishy. Like this Peter Brandt guy, somethings just don’t make sense.
Scroll to Top