253 [Gap down ruined my short setups. Dec 23, 2020]

  • QS have 30kshares still, trailing with the 10ema. QS stopped out, QS was my biggest trade ever on the long side, almost doubled by third buy. Straight down, hope it bounces back to vwap so I can get a short entry on it, the 10day is 25% lower from here, hopefully it can bounce back to 114/115 or something. I’m gonna try it on the short side if it loses vwap later potentially, not gonna go any insane size, the gap down ruined the setup, it was getting really extended and then we got this stupid gap down and it ruined the whole setup.
  • MARA filed a shelf, good that means it’s gonna squeeze to 20. I’ve seen so many people shorting this MARA on tweetdeck, it’s not even extended yet, I think it could easily go to high teens this week, bk it’s still frontside, I would rather cut off my left foot than short it here.
  • FUBO, I would be interested in shorting it if it goes to like 65/70 today, but with this gap down idk, I don’t like these one’s that gap down so annoying, and again I’m still long with one a little bit. FUBO I’m out, hopefully can go back towards 60, if it can push here and then start building some lhs for a potential short entry. Shorted some FUBO.
  • Sold down a bunch of exposure, sized down FCEL, RIOT, MARA, PTON, I refuse to give back any profits, like since Wed I’m up like 5M, idc, I’d rather miss 2M on profits than give back 2M on my existing profits, idc I’m gonna protect my profits like a mother protecting their newborn child, that’s the mentality I’m in rn, I’m scared, if I’m wrong I’m wrong idc. I don’t see the things that I like to see for me to be aggressive so I’m cautious, I’ve had the run of my life the past 1.5months and I just choose to be cautious here, bc I know every time I’ve had a big run, every time I feel euphoric, that’s when sh*t happens, I just recognise the feeling, I recognise the conditions. A lot of stocks I’ve had are up 50/100% in the past few weeks, even the past few days.
  • I don’t need any luck, people who are aggressively buying and holding stuff here those are the people that need luck, I don’t need any luck I’m good to go, I’m just exploiting my edge, this market has been exceptionally good to exploit my edge.
  • TAN is having an nice reversal, 5* short setup.
  • Here come the downticks. Yeah that’s what happens when you keep buying breakouts after we’ve already had a big run, that’s the problem, the best time to buy breakouts is when the market is coming out of a correction, or is coming out of a long sideways consolidation. Both of these things happened back in Nov/Dec2020. First we came out of a correction here early Nov2020 was a great time to buy breakouts, and also mid/late Nov2020, that was the time, time then we’ve had a lot of froth, that’s usually not a great time to buy breakouts, you’re gonna learn this guys. I see so many people getting aggressive now after we’ve already had 6/7weeks of non stop breakout action, this is really not the time.
  • PINS in normal scenarios I would say is a 5* setup, it’s a really good setup, the problem is it’s been lagging, everything has been breaking out the past month and a half and this thing, idk it could go to 100 now in a straight line but that’s always the problem, when there’s very few good setups, and you get one or two good setups, my experience is they tend to not work very well. It’s the times when you have a lot of good setups, a lot of stocks setting up, those are the times you can be aggressive. That means the market’s healthy.
  • The key is to outperform that’s the key, if the market is up 10% you should be up 30/50% that really is the point, that’s why we are here, that’s why you focus on these high ADR stocks, we don’t bother with the slow stocks, let the mediocre traders trade the slow stocks, the slow momo stocks, the sectors that are not hot, let other people trade them, we want to be where the money is that’s our job. If you want stellar results don’t trade mediocre stocks, trade the fast moving stocks.
  • And guys think about it these returns, that’s what people are happy to get in a year, so you kinda have to make a decision, how much of my profit am I willing to give back to get even bigger returns? That’s the decision everyone has to make for themselves, I made my decision, I’m not willing to give back much, I’m trying to be proactive.
  • VFF it’s a very good setup yeah, two tight days in a row, maybe not 5* but 4*, this is exactly what we’re looking for, high momo stock, went up 150% in a month, orderly pullback, found support on the rising 20day, started building hls , then it had a tight close day before, and started breaking higher.
  • TSLA is setting up, actually building a htf here, bounced off the 20day, this could be explosive on the way to 1000, needs to tighten up a little bit more but in a few sessions could get a really good setup on this thing. Still looks explosive, they can’t keep it down, building hls, bounced off the 20day, the price action is perfect. This is something I could roll some of the money I sized down on other stuff into, this is what I’m saying sell down some extended names and the names that are not acting right and then you just wait for new setups, if the market is going higher, there’s gonna be more setups, new setups and a fresh blood of stocks and they may not be the same ones that led the rally of the past month, may be diff names.
  • AMC why would you wanna buy this, looks like it’s gonna go bankrupt, if the funds don’t want to own it why do you want to own it? It’s going straight down, why do you want to buy this thing? Idc if the equity is worth anything, as far as I’m concerned none of the stocks I have in my portfolio are worth anything, but as long as the funds keep buying them I wanna own them. Same with with AMC, if it sets up I wanna own it, but rn it looks like sh*t, if you trade stuff that looks like sh*t your results are gonna be sh*t.
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