• PTON, up 10% premarket, I guess this breakout 121 entry worked out really well, this is what happens you focus on good setups in a good market and you’re gonna get paid, this is how it’s supposed to be. Also sold most of my PTON, this could be an exhaustion gap here.
• FUBO could be a short here, could be, bc now there is a setup here. It’s not a valuation short, it’s not a fundamental short, it’s a technical short. Valuation and fundamental guys they shorted it in the 20s, us technical shorts we short it when the stock has peaked, bc we actually want to make money and not be right. It’s up this is the 5th day, reminds me of JMIA here [Jul2020] I bought the flag it went straight up 5 days in a row, on the 6th day that’s when I sold it and I should have also shorted it I guess but I passed on the short. So at the very least I’m gonna sell FUBO. Sold most of my FUBO here, keeping a tiny bit in case it goes on higher. FUBO took out hods, good thing I didn’t sell all, this thing could go to 100, I only have like 1/3 of my size left but this thing could speed up, this is the type of market we are in.
• MonacoTrader is adding to his FUBO short? That guy is gonna blow up man, that’s just stupid, that’s rule number one of a momo short seller; you don’t add to a loser. Like what’s he gonna do if it goes to 100, this thing could legit go to 100 this week, I’ve seen these things before, how long is he gonna add to his sh*tty short thesis? Like I don’t really care what he does but I want to show you guys what you should and shouldn’t do, shorting is no joke, this is why I don’t want you to short, it can be very lucrative if you do it right but this is how you don’t short. This is the type of trading people blow up on, not how you short a momo stock. Like it’s not crazy to short it today, on a good setup once it gets below vwap, but you gotta have stops, he started shorting it in the 20s. And he’s been adding to it, like what if it goes to 100? Insane, don’t do it guys, again I’m not picking on him but for educational purposes.
• This is why I’m always talking like you have to wait for the stocks to get really really extended. Like PLTR when it went up 250% it was up like 4 days in a row, that’s when you short it, right here on this day [27/11/2020] that’s where you short it. LAZR it was up 360% in two weeks, then it started speeding up, was up what 4 days in a row, 5th day this is when we shorted it [8/12/2020]. You short when every early short is getting squeezed, that’s where your edge is, if you’re too early you’re dead. If you’re an early short you’re gonna be broke, soon. You have to wait for these things to overextend, like really overextend, and then you look for weakness.
• AI could be a short setup, I would want one more up day on it though, but it could be if it starts showing weakness, the usual stuff, but def not yet.
• FUV bought some orhs. FUV tanked, yeah it did, looks like I’m gonna get stopped out, all the breakouts I bought today could do this, we’re getting a bit long in the tooth in some of these names.
• MARA, I gotta size down on too this thing is up 140% since the re entry. I didn’t realise it was up that much.
• This is as close to free money as we’ll get guys, this only happens a few weeks per year, when money comes this easy, it’s insane it really is, absolutely insane, few times per year and this is one of those times. It’s insane I’m up like 3M overnight, that’s almost what I started the year with, it’s insane. Trading is a grind, it’s tough, it’s boring, it’s frustrating 95% of the time, this is the 5% of the time it doesn’t suck, when it’s actually really fun.
• Gonna be so many short setups next week if everything keeps going up like this, just straight up, this is a very dangerous market bc a lot of traders feel like geniuses rn, including me, and when you start feeling like a genius that’s usually when bad things happen, every single time.
• PLTR I only bought half size yesterday, I wanted to buy 300kshares but it was such a wide candle and I didn’t feel like risking 450k on one trade, so I only bought half size.
• S&P is irrelevant for the stocks we trade, doesn’t matter, it’s really not an index that’s relevant for us, Nasdaq and Russell are much more relevant, COMPQ and IWM, and I also look at QQQs alot bc I trade a lot of QQQ stocks. There’s only one stock in the whole s&p500 that’s relevant for us and that’s TSLA. COMPQ and IWM are what you should be looking at if you’re doing market analysis.
• QS it’s nearing the end, I don’t think it has many days left, it’s nearing a ten bagger now from Late Oct/Nov, it’s nearing the end now. Can it go to 200? Sure, if it can do it in a few days that would be even better. And obv this is the kinda stock it’s up 50/70% in two days, don’t wait for the 10day, sell some into strength if you bought it on the technical buy areas, 65/66 area. I’m gonna start trailing with the 10/20ema on the 60min, going into profit protection mode here, everything I have could go up higher but I don’t wanna give back to much incase they don’t go higher. QS man it’s building hls intraday off the vwap, this market is insane.
• Honestly like guys everything has already run, don’t be too aggressive chasing breakouts today, the past 6weeks has been a breakout fest and now, I bought some smaller things today nothing crazy, but just don’t go crazy, this is not the time to start getting aggressive, this is the time to start taking profits. The past 6weeks has been the time to buy breakouts bc we’ve had so many good ones, so many 5* breakouts. If you’ve had some big profits over the past 6weeks and you see some good setups sure go for it, but don’t go crazy with anything you know. I bought some small positions, NIU, FUV, CIIC, but these are tiny positions, these 3 together are like 5% of my accounts, can they double sure that’s what I’m going for, but I’m not gonna do any crazy breakouts, bc I think that train has left the station, this is the time to trail and trim the ones we bought over the past 6weeks. Just be careful.
• DKNG gonna raise stop here since it’s a laggard, I don’t like laggards, if you hold laggards your whole portfolio is gonna lag, and our job is to outperform widely, that’s our job. We are not here to get market returns, if you want market returns buy an index fund and go do something productive with your life, that’s not what we are here for.
• FCEL too, it took a couple of days before it got going, this was the breakout [15/12/2020] the entry day and it closed kinda sluggish, and the next day it actually was very close to stopping us out, but then it built another hl and now look at it it’s 25% higher, so you gotta have some patience sometimes, it’s a really good explosive stock. Same with Z, it felt so slow first day [7/12/2020] was only up like a few percent, and the next day was up a few percent, and now it’s up 30%.
• MRNA, I guess yesterday’s lows was it, it was this range break and now just breaking down over a bearish flag, just like it did here [15/12/2020 10am], it’s the exact opposite of like a bullish flag on the 60min, but instead of buying a breakout you short the breakdown. Omg 5* breakdown and I missed it no, look at this thing it’s gonna go straight down to the 50day now. 5* breakdown, 5*.
• ABNB is weak, if it rallies into vwap I may short some later, if it gets there, probably not, but I’m not gonna go crazy, bc I think we could squeeze into new years easily. Okay so ABNB got rejected on the vwap, shorted a starter tight stop. ABNB stopped me out, it’s a good thing, it means these extended stocks, they’re not ready to go down yet. You gotta listen to the market, listen to what these stocks are telling you.
• AAPL is just having a continuation move from this 5* flag break, we are in a momo market, like it’s not the news, it’s just rn stocks are looking for any excuse to go up, same thing with PTON, they had some random news and if this news had been a month ago I’m sure it wouldn’t have been up 14% but rn it’s just red hot momo. Stocks are just looking for excuses to go up, there’s just so much money wanting to come into the markets.
• LGVW damn this one I passed on, it broke out of a perfect htf setup, orhs was obv the entry.
• The main thing is don’t do anything reckless, this is the type of market where a lot of reckless behaviour you get away with it, all of this stupid behaviour has been rewarded this year, it’s not gonna last forever. Don’t let this easy money get to your head and start thinking you’re a genius that can do no wrong, bc this could stop at any point that’s the key thing, I’ve been there, as fast as you make the money you could lose it just as fast, even faster. So I’m just a little bit scared also bc it’s usually after these times the worst draw downs happen, so just stick to sell rules is what I’m trying to do. Once you feel invincible in the stock market things can only go downhill.
• Also one of the reasons I’m so careful is I’m still on margin long, even though I sold down a bunch I’m still on a little bit of margin, when you’re on margin you gotta be extra careful, you gotta be so aggressive getting rid of stuff once they don’t act right otherwise you’re gonna get run over. Margin works two ways, it can enhance your returns but if you do it wrong you’re gonna get killed, most people don’t know how to use margin. You only use margin when you have deserved it, and I deserved it, coming into Nov2020 I was mostly cash very few positions and then early/mid Nov2020 I’ve been building positions and throughout Nov2020 and Dec2020 there were so many great setups, look at most of the stocks I’ve been in 2-6weeks, and now is just trim and trail, this is not the time to start getting aggressive on the long side, we’ve had 6/7weeks of really good non stop setups so if you feel like you’ve been underperforming and not really participating in the upside, if you start chasing stuff here odds are it’s not gonna end well. This is the time to be careful, I don’t see many good setups.
• PINS is the only one I see that is actually setting up on the long side, that actually has a good setup and is not extended or looks like sh*t. In normal scenarios this would be a 5* setup, but the market has already gone, like everything has already gone and it’s obviously a laggard for now.
• You should never love a stock, they’re just all vehicles, trading vehicles, as a trader you should never fall in love with a stock, you should never hate a stock and you should never love a stock, bc you know what you may love CLSK but CLSK sure as hell doesn’t love you back, doesn’t know who you are, doesn’t care about you. None of these stocks love you back, they don’t know you exist, they’re just trading vehicles.
• SQM actually a really good setup, too late to buy it now and also low ADR but the setup is good and it’s the right sector it’s a lithium mining stock.
• Obviously if the market turns and speculation money leaves it’s not like I’m gonna sell everything at the exact top, obviously I’m gonna have a little bit of a drawdown from equity peak, bc I don’t know when the market is gonna turn, but the key is not giving back all your profits. If you give back 10/20% okay it’s gonna happen, you’re not gonna sell everything perfectly ever, but the key is don’t get stuck in the mindset you love a stock and you think it’s gonna keep going higher just bc it has momo now. You can be super lucky and be in the right place at the right time but the key is to survive all kinds of markets, not just be a bullmarket genius and then blow up once the market cracks, you want to survive.
• ABML yeah this is like a 5 bagger in just a few days, this thing could go to $2/3 it’s a low priced pink sheet it could still double from here easily. I would use the 10/20ema bc obviously you can’t use the 10/20day as a trailing stop on something like this with an ADR24%, the higher the ADR the faster the MA you should use. I would say if you get these insane movers that go up 50/100% in a few days, you almost have to use one of the 60min emas.
• They’re all fuelling each other, idk what’s pushing what anymore just everything is up. The hottest sectors are Solar, everything EV related small/midcap, and these battery names, and fuel cells like clean energy related stuff, and also BTC related stuff, those are the strongest sectors. What’s happening rn is the market is pricing in the massive spend on Solar, and once the spending starts, that’s when Solar is prob gonna underperform, this is how the market works, it’s forward looking.
• That’s your job as a trader, your job is to sniff out the strongest stocks, you don’t wanna sit in some slow stocks not going anywhere, let the mediocre traders do that, your job is to sniff out the fast movers, the hot sectors, the strongest sectors, the ones that are showing rs, that’s your job, constantly have to listen what’s the market telling you. Sometimes you miss them sometimes you nail them, that’s your job to nail these hot sectors, buy them before they go up 200%. And obv a very strong bullmarket helps, but that’s part of it, you have to know when to be aggressive, when to take a step back. And there are times when there is pretty much nothing to do for weeks on end, and you have to adapt.

#shorting #masterclass