237 [Insane markets. Nov 27, 2020]

  • BTC had a downtick people are freaking out already. GBTC is right on the 20day, MARA RIOT already bouncing. BTC has pulled back to the rising 20day, almost hit aths, just a few percent away. GBTC it’s down on the day but giving a bullish price action, I talk about it all the time, the stock can be down on the day and still be bullish.
  • PLTR shorted orl. Stopped out of starter, starting to reclaim vwap. Short some from lower highs, and some from vwap fail, should be in twice the size though. PLTR shaping up a little bit, looks like it wants to retest vwap. PLTR looks like it wants to go red here. Omg, gonna cover up a bunch here and lower stop, it’s right on the 10ema, I’m not gonna swing it since I just don’t have the bp. PLTR just took out lods, I only did 100kshares, and then I did add a little bit here [29.77] like 50kshares which I’ve already covered up.
  • JMIA only got 1/5 size. JMIA failed off vwap once again, for now. Short some from orls and some from vwap fail. If JMIA reclaims vwap I’m just gonna cover it, look at the 60min it built another hl and it found support above the rising 10ema. Rejected off the vwap for now. Adding a tiny bit more with a tight stop. Hasn’t even started fading yet, lhs, rejected off vwap. Gonna size down if it reclaims.
  • APPN short some too. APPN failing vwap. APPN hasn’t even started working yet, it’s been building lhs, getting rejected on the vwap, the usual stuff, but hasn’t even started working yet, been building lhs and now it’s below vwap getting rejected on the vwap. Same thing with JMIA, same thing with PLTR. You just can’t be early, you have to wait for them to play out, you have to wait for them to play out, squeeze all the amateur shorts out and that’s when you go short.
  • Some of these Battery EV names, if they can go sideways a few more days, they’re building flags again on their 60min, these things could go, especially if we continue to be in a melt up mode in the markets. Don’t ever underestimate a parabolic market, or a melt up market, but you gotta have tight stops. Right now I think we’re just starting to come out of this range on the QQQs, this could go on for many weeks and even months, where we just go straight up, I’ve seen those scenarios before the past few years, but some individual stocks are getting a little bit extended.
  • A melt up market is where everything is going straight up and it becomes too easy to make money, you start feeling like a genius, that’s a melt up market. Most of my money has come from periods where the market is really good., you just have to be aggressive when the market is really good, your job is to identify good setups in a good market, and then let the market take care of the rest. It’s the market not you.
  • QS, I bought some Friday in my ib account, wasn’t a good setup but I just saw the whole sector like, watch what Dantes has been writing about this thing, this could be the most exciting stock in the whole stock market rn, this thing could go to 500 eventually. It’s a chase setup, sometimes when a sector gets hot, especially if something has a really really good story, I buy a chase setup, the setup was I buy the thing randomly here, I risk 10% and let’s see if it can double or triple, that was the setup. Scaling out a bit more, sold like 1/3 so far.
  • You can make so many mistakes, like I’ve made so many million dollar mistakes this year, if I could eliminate my 5 biggest mistakes this year, I would be up easily another 5M easily, and all of those mistakes were really easily avoidable. That’s the thing, if you have a big edge, you can do a lot of mistakes, you don’t have to be perfect, perfection is for losers, perfection is for liars, perfection is for people trying to sell you some sh*tty trading service, sh*tty trading method. There’s so many times I haven’t followed my own rules, and traded stuff I shouldn’t you know stuff where there hasn’t been a setup but I just kept trying and trying bc fomo and stuff like that, the usual stuff. And obv having the best market in 20years kinda helps.
  • FLGT, look at the numbers, triple digit earnings growth, mid/high double digit rev growth, and look at the move it’s made, this thing has gone from what $3/4 and now it’s in the 40s, that’s what happens, once you find one of these fast growing companies, this is where ten and twenty baggers come from, there’s so many ways to trade them you can swing trade, position trade them, invest in them, but you gotta find them.
  • SOL, identify the perfect setups in this thing, right here [12/11/2020] perfect flag break, thin stock but perfect setup, also here it had a perfect setup.
  • XPEV damn fading without me, on this perfect breakdown it’s gonna go straight to 55 now. And LI, man I screwed up on these, maybe NIO will give me an opp, it’s the one holding up best but if these things are gonna fade, NIO will fade eventually, it’s not gonna hold up forever.
  • MRNA, this thing had an entry, htf on the 60min, I passed on it, I should have bought MRNA.
  • Vwap I only use for shorts, and mean reversion longs but I rarely do those, you don’t get them too often. Last time we got a mean reversion long, I missed that one, but was ACB, in 3 sessions it went down 55% and then on this day here [11/11/2020] had an insane bounce, went up like 20%, that was a high probability trade, yeah right here that was a perfect one.
  • SE, it’s kinda weirdly building a base on a base, like here it built a base on a base and now it’s building a base on a base again, these things could get explosive, it’s just relentlessly building hls and getting tighter, I think once this thing goes it could go to low/mid 200s, but I think it needs a little more sideways, every time it tried to breakout it never really had much follow through, but one of these days it’s gonna go.

Misc:

  • Sorry I was late to the stream, I was at the Lego store. Yeah you heard that right. I bought myself a piece of happiness. Star wars Lego? Why would you think I would buy a Star Wars Lego? Wth is wrong with you, I’m a grown up man, why would you think I would buy a Star Wars Lego, who the hell buys a Star Wars Lego in their 30s? Who the hell do you think I am? Anywho, I bought myself a Star Wars Lego.
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