247 [Bitcoing looks like it wants to double soon. Dec 14, 2020]

  • GBTC, maybe I’ll add, look how aggressively it’s been building hls. I looked at the BTC chart, looks pretty good, this BTC looks like it wants to double here, building a big flag, next stop 30/40/50k, what’s the mcap BTC 355B, doesn’t make any sense, it’s half of TSLAs mcap.
  • NIO yeah short since Friday, half size, I covered half into close as it closed kinda strong, or at least not as weak as I would have liked and now it’s gapping down.
  • GRVY, it had a good setup like 2 weeks ago [25/11/2020], up here is not a good setup.
  • TSLA has been overvalued since forever, but this time if you look at the chart any time frame, it’s seriously overextended man, it’s approaching 600B in mcap, they just don’t have the sales or the cash flow to back it up, I do think this TSLA is in a bubble of its own, but I wouldn’t be surprised if it goes to 1000. But I don’t think it’s a good long term investment here, even if they execute perfectly for the next ten years I don’t think it’s gonna be a good investment.
  • MARA is now very strong compared to RIOT oddly enough. Bought some orhs. Stopped out then back up. I hate when stocks do like that, they stop you out and then they just rebound, and then you have to rebuy them higher, that’s the worst thing, when you have a perfect entry and they stop you out and then you have to rebuy them higher, I love it. Weird MARA is so strong bc this thing has been showing rw compared to RIOT for like 2weeks now, I don’t get it.
  • RIOT is going too, f it I’ll max out my ib account, gonna go full degenerate in my ib account, it’s coins guys, the coin names they’re going, okay I’m full margin in my ib account, it’s my smallest account so idgaf, already up like 900% on this account this year. That’s what you do if you go on margin, full degenerate mode, wsb mode, in a good market. I trade it differently, it’s my smallest account so I only buy these like microcaps and smallcaps that I think are gonna make big moves then I put the whole account in 1/2stocks, and rn I’m in full margin in 4 stocks, I trade it wsb mode.
  • I bet most retail accounts in ib look crazier than my ib account, I bet, the stupidity people have in their accounts is unbelievable, and some of them strike gold but will they keep it, that’s another question. If we have learned from precious bubbles we have learned that most people don’t keep it, our job is to keep our money, our job is to keep the money we make.
  • But you gotta be careful with margin, it works in a market like this, it works really well, in a market like this that’s so directional, most of your mistakes are forgiven pretty fast, but obv this market environment is not gonna last forever, but while it lasts you gotta push it, bc you don’t get markets like this very often.
  • PTON bought some orhs.
  • A lot of things fading, I think it’s a good thing, if some of these stocks can just go sideways for another day or two they’re gonna be 5* setups. Something like PLTR, if it can go sideways here 26/28 area for a few more days, it’s gonna be a 5* htf, looks like it’s gonna go to 40.
  • APPS not a good breakout setup, it was very loose and wide coming into this. I’m gonna show you where APPS had a 5* setup, here [15/9/2020] look at how tight and orderly it was coming into this breakout, and also here [30/7/2020] these are the setups you wanna look for, look at how tight and orderly. Up here it was all over the place, just a random up day, you have no edge buying something like this. It also had a decent setup here [20/11/2020] but this one failed.
  • LAZR this short is a gift that keeps giving, I wish I hadn’t covered anything on the way down, I just wish I had kept my 130kshares or whatever I had up here. Now the next stop for LAZR is gonna be the 20day like 22% lower, potentially big move, I don’t have that much size left only have 30kshares, less than 1/4 of my position.
  • It’s all about trading one or two setups over and over again, compound your money, that’s all trading is all about, exploiting an edge over and over again.
  • I don’t see any signs of this ending, when I start seeing signs of the party ending, like let’s say the ipo market totally craps out and stuff like that, and you see the big leaders like TSLA and SHOP and all of these things start going lower, going down actually, well maybe then it’s time to take a temp vacation or something. But rn there’s just so much money that wants to come into this market, we saw that with the ABNB and DASH ipos, they opened like how much higher from their original pricing, it’s just incredible so much money on the sidelines dying to get in, and they don’t care about valuation or anything like that, they just want in. I think the worst ones are SNOW, it’s a megacap stock at 200x sales, and AI, it’s at 80x sales, it has 6% rev growth last Q, okay if it had 100% or 50% but 6% it’s not even a growth stock and it’s trading at 80x sales, pretty incredible, but this can go on for a while.
  • TDOC, looks great on the weekly, this 205 break is looking awesome on the weekly, on the daily it doesn’t look as good. Just like FSLY, on the daily it didn’t look that good but on the weekly it looked awesome, and now it’s higher.
  • AMZN looks great here, it’s about to break this 3200 range, it’s another one of these growth names going sideways, I mean look at the weekly, it’s a htf on the weekly, this thing could go to 4000 by Jan2021.
  • QS was shortable yeah, it crashed and burned, but it may find support on the 10/20day and setup again, we’ll see.
  • ENDP breakout attempt, yeah looks like a decent setup, I like it, look at how linear and orderly it is, this is a good setup, it had a big move, it’s been pulling back and now its been digesting, look at how linear this move is, it’s orderly, I think it’s a pretty decent setup.


  • F trading, hey David I’m gonna go shoot some guns.
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