226 [Growth stocks getting killed. Nov 10, 2020]

  • APVO, still have 30kshares short, I think another $5/10 is reasonable, or maybe not idk we’ll see.
  • TSLA, should have shorted orls, I was looking at it but hesitated a bit. I want this thing to put in a bounce to like 415 or something. Shorted 12kshares, wish I had done orls would have a much better avg.
  • NIO, I was thinking about shorting when it broke this range but I passed. It’s still frontside, it needs to break these 10/20ema, and at least the 10ema needs to start acting as resistance instead of support. Man NIO come on, and now there’s no support on this thing. Now the question is can this 20ema act as support, let’s see if it can fail at vwap. Okay I had to do a starter, wide stop, if it reclaims vwap I’m out. Okay just got filled another 100kshares of NIO, but it’s not breaking down yet, I got tricked. Looked like it kinda failed vwap, for now, I added. I’m gonna go degenerate NIO if it breaks lods, okay about to go full r*tard on NIO lets go, 8.5M short position, this thing better go.
  • How do you know backside, let’s take NIO as an example, if this 10ema and 20ema start acting as resistance instead of support, these things have been acting as support for a long time, these things start as resistance, that’s how you know. Or if the stock is starting to build lhs and break a range to the downside. NIO so now it’s backside, you see these candles, it broke below the 10ema, found support on the 20ema, then it tried to bounce, got rejected off the 10ema, and now it’s turning down.
  • I saw NIO has a bigger mcap than BMW, it has 2/3 the market cap of VW, not that I care about valuation per se, I care more about price action, but if we really start pulling back in the markets, this NIO is gonna pullback 50% in a couple of weeks. Yeah the valuations in some spaces are really insane, ok if it’s some kind of software stock with no competition, but come on it’s a car company. But I don’t know anything. Valuations haven’t mattered for many years now, we have been in one of these rare markets where they don’t really care about profits, all it cares about is rev growth, but it’s not gonna last forever, last time we had such an environment was late 90s, and before that was late 60s I think, you get those markets every 20/30years, where all that matters is rev growth primarily.
  • Nearing in on 400k on NIO, and I don’t really give a sh*t, like 6months ago I would be really excited, now I don’t really give a sh*t, kinda funny how it works. Like yesterday I dropped 3M in premarket, and it barely moved me, bc I was up like 3M the week before, so I was back to like 5 sessions earlier. I was annoyed ofc, but it wasn’t like my previous losses. Slightly neg neutral mindset, exactly I realised you don’t have to cry over your losses, and you don’t have to celebrate your wins, they happen, you’re supposed to have homerun trades, I’m supposed to make money it’s my job, why would I celebrate every single time I make money, and why would I cry every time I take losses, they’re just part of it.
  • ACB from yesterday, what a 5* setup, I hate when you miss 5* opps bc there’s so many things going on, and then you have days like today when there’s nothing going on.
  • FVRR, look at how fast momo can shift, this thing was at aths now look at it, it’s down 30% from Friday highs, this is what stops are for. You gotta get out, these momo stocks, once they turn, they turn. Goes for any stock, but especially these high ADR momo stocks.
  • Daytrading methods, it’s the same methods, eg look at SQ, makes a big move, consolidates builds hls, builds a flag here, breaks out goes on a bit of a run. These EPs big beats, big gap ups, you can just trade them off orhs. And stuff like TSLA, stocks that break down, look at it, it built lhs, got rejected off the vwap, had a clean rangebreak here and then a breakdown.
  • SOXL I should have shorted yesterday, that was a 5* setup. It was up 5 days in a row and the 5th day big gap up, an exhaustion gap, then it started building lhs. Took out orls then it reclaimed the highs, then started building lhs, then this last one failed at vwap then it started fading off.


  • I’m an honest working man, and these brokers they’re skinning me alive. I’m just trying to provide for me, my mom and my cat, and also buy some fuel for my boat. Guys don’t ruin my twitch persona, my twitch has a cat, a mom and a basement.
  • In the future I’m gonna use weekly charts more, I’m gonna trade more like William O’Neil does in his book htmmis, little bit longer timeframes, little bit longer holding periods, and use the weekly charts. Less noise, much less noise.
  • Why is Pradeep not in the market wizards book? Exactly, he should be in the book. What Pradeep does, he leads people to treasure, he hands out treasure maps, that’s what he does.


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