• GME unfortunately I’m not in, I didn’t want to chase this move down, I missed the first breakdown I tried to get in on offers 429s but then the stock never went higher and I was too late, I didn’t wanna chase like $5/10 and now here we are, the stock is 35% lower. It’s a casino out there, I f*cked up GME I should have chased it, I wasn’t paying attention. But guys there is a lot of downside, GME is down 50% from the pm highs, and it still has 57% to go to get to the 10day, insane.
• GME, man these gap downs are so annoying. Let’s see if this GME can rally into vwap, obviously today you gotta include the pm data. GME has to rally another 25% just to get back to vwap. GME is right at this 355 range, it’s a big breakout level, if you exclude the pm data obviously. So both GME and KOSS I’m gonna look for setups, if you include pm data, if it runs into vwap and starts failing, builds lhs, first red 5min candle, stuff like that. GME the best thing do to here is just wait for that first 5min candle, just have a defined risk.
• GME so if retail can’t buy this thing this last squeeze must have been the last shorts is my thinking. GME looks like it’s maybe failing off vwap again, so usually my first target for these parabolic type of shorts is the 10day, but the 10day is 68% lower, the 20day is 81% lower, unbelievable these numbers. GME still no offering what are these boomers waiting for? If your stock is up 2600% in two weeks, and like 800% in four sessions, you gotta do an offering.
• GME so yesterday I shorted it a few times, I was in fullsize about two times I think, and it never broke down was very annoying, looked like it was failing at vwap, had a down candle then it reclaimed, happened a few times was very annoying so I had to size down trade it around a core, so I lost like 4M on it yesterday. Yeah my max risk is usually 1% but if you get stopped out several times it adds up. Shorting is very hard, my biggest losses are always on shorts, but it’s the shorts that get me to the next level usually.
• GME I’m gonna keep this position, I think this thing could go back to sub 100, I think there’s a good chance it hits the 10day by tomos, we’ll see maybe it doesn’t but it feels different, a lot of these retail people they’re locked out of buying this thing, and who else is here to buy it other than the shorts? I think this last little squeeze was the last shorts getting squeezed. GME didn’t get halted much yesterday, today it’s already been halted this is the 7th time, yesterday was only halted 3 times the whole day. And halted again, this is what happens, I hope it bounces here, and bounces back to vwap just to bounce back to vwap is a 57% move, I would like to add, I did cover some small.
• GME this is day 2 of whatever leg this has had several legs higher, but today is day 2, I shouldn’t even have shorted yesterday bc technically it was day 1, I broke my own rules. And I think it’s gonna go back to the 10day by tomos but it’s always good to lock in some, and maybe if it has a bounce or a setup later in the day then you can add even more size, with a set risk. Ideal scenario I hope GME rebounds here, I really want this thing to bounce 20/30/40/50/60%, it has to bounce 80% just to get back to vwap insane, I would love to get one more really really good shorting setup.
• GME actually going straight to the 10day looks like, I think it’s gonna have an epic bounce, I think it could bounce like 100% intraday if it gets to the 10day today, could easily bounce from like 100 to 200 bucks maybe even 250 or something, 150% move very easily. It’s gonna bounce now, I need to cover up more shares, it’s gonna have an epic bounce now, wouldn’t be surprising if it bounced like 100% from here, just to get back to vwap needs to bounce 170%, if it has a big big bounce and we get a good setup I’m gonna add. Okay I’m all covered GME here, it’s gonna bounce back to 250/300 I wouldn’t be surprised. I’m gonna clear my head and reshort it.
• GME what I should have done, I should have switched long, it’s the same principal, when you get these enormous moves, you wait for the first green candle, it works the same way on these parabolic longs, mean reversion longs, you wait for the first candle after a big big move. If the stock is down 77% in an hour or two, it’s not gonna keep going down forever, it’s the same setup just in reverse.
• GME I think I had maybe 25% of my account in when I was fully sized on that first red 5min candle, gonna show you guys, so here it is, had a big push out of the gate then that first break of the previous 5min candle, that was the setup, then I did add a little bit more once it had been building lhs, easier to see on the 1min, it had been building lhs and when it failed vwap here I added a little bit more, but that was a tiny position. If you short a parabolic you should always cover some on the way down, don’t wait for your profit target which is usually the 10day, if it goes down 10% you cover some, it’s simple math, figure out how far away the 10day is, let’s say it’s 40% lower then you know if the stock is down 10% you’re already 1/4 of the way to your target, you should probably cover some, 1/5th or 1/4.
• GME and now same setup, now we look for the first red candle, I’m gonna look for the first red 1min candle, or 5min candle, but I think it needs to bounce more, I think it needs to get closer to the vwap, I don’t think it’s ready, it may want to pullback, consolidate and then have another leg higher, or if it get straight to there, but I think if it does a red candle now it’s too early I think gonna get stopped out. This is what I’m saying, the first candle is a shakeout it needs to get closer to the vwap, it doesn’t need to touch the vwap but it has to get closer, I think it’s gonna get back to 300 easily, maybe even tough the vwap, it’s only half way to the vwap. GME so next leg higher I’m gonna reshort it. If I can get a really good entry and it’s a clean move, let’s say it goes to 300 tests the vwap, fails there I get short and it goes back to 200 or something maybe 150 idk, I don’t think it’s gonna take out lods today, I think it’s done today but could fail at 300 very easily, the higher it goes the better, 350, if it even goes above vwap would be even better, but then has another 30/40% move lower then I’m gonna guaranteed have a really epic day, but it’s a lot of ifs.
• GME alright I got in, on the 1min it hit vwap perfectly, but also as soon as it looks like it starts reclaiming I’m out, look at how perfectly it hit vwap, and now it’s halted again and I didn’t even do full size. Heck I’ll do XRT too, why not. Let’s see if this GME is gonna be a clean trade or chop around here and retest the vwap, I’m in shoot first ask later mode, you gotta be so quick, you can’t take your eyes off the level 2, bc if the chart is lagging by like half a second you may miss your exit/entry. Yes it’s pointless 99% of the time, but in this case I need high resolution bc this stock is like a rocket, I would put a hard stop on it but I don’t trust it, bc I got burned yesterday on a GME when a stop didn’t work, it didn’t trigger, so I’m doing this thing manually, I lost like 500k more than I should have on an add yesterday bc the stop didn’t work.
• GME those were some damn good covers near the lows, went up 180% from the lows. For now this thing has been building lhs and has a range here 265 area. I added a little bit when it broke down, you can clearly see it has been building lhs and then it had this rangebreak. You don’t have to rocket science it right, it’s just specific good r/r setups, and now look at GME, you can make so much money on just very simple principles.
• KOSS I am in short tiny size bc it’s very illiquid pm. KOSS my stop is in the high hundreds or something, 149, you can’t even see my stop on the daily, these moves are insane. Added to KOSS position, kinda anticipating the first red 5min candle. Wait I halted KOSS with my market order ahahah I halted the stock! It’s so thin I halted it with a market order, omfg this is unbelievable. KOSS is failing vwap now, no it’s too early to tell, it either works or it doesn’t this trade. This KOSS is textbook, if you include the pm data, so had a big fade, tried to reclaim vwap couldnt, retested vwap, and now its momo is to the downside.
• KOSS remember like this is down 45% from the hods, and if you include pm it’s down almost 65% but just to get back to yesterday’s lows it has to go down another 80%, the numbers here are unbelievable, the moves we’ve had the past few days just crazy. KOSS I got filled half size pm, when it started building lhs and broke this vwap, but I’m up 2M on it, and I would be up much more if I didn’t only get filled half size, but again my first target on it the 10day is still 75% lower.
• KOSS just keeps going down, thing is not even bouncing, I’ll cover up some, covered about 1/3 so far. This thing is halted forever, I’m thinking about covering it up, at this point it could double easily, but on the other hand the 10day.. no if it doubles from here I’m gonna add. That’s the thing you look at it ‘omg it’s down 70% from the highs’, then you look at the Log chart and wait it still has 55% to go just to get to the 10day, that’s how insane these stocks are rn. I covered up a tiny bit but yeah I hope it doubles from here get’s back to the vwap, wait to get back to the vwap the bounce from the lows would have to be 300% almost.
• KOSS now it’s bouncing, I hope it bounces back to the vwap area ish, 100 bucks would be great, gonna add back a what I covered.
• XRT I just realised I could have done this thing instead, bc this thing is not halted, it’s not as clean of a trader, but oh man I screwed up, first green candle here, like either first green candle or it takes out the previous 5min candle, that’s the setup, risk would have been $1.5 and now it’s already up $5 and could go up easily another $3/4.
• AMC just took a dump, and look at this one too, gapped down or well not pm but opened down, went straight up out of the gate, ran up into these declining vwap and declining emas [5min] failed, the first red 5min candle and straight down since. Learn that setup, there’s many variations but it’s a type of setup you can trade these types of moves, but you gotta be so fast that’s the problem.
• BB exactly the same thing, gapped down, pushed out of the gate, failed, took out the first not red 5min candle, I would clarify this 5min candle was green, but the first break of the prior 5min candle when these things run into these declining resistance areas.
• GSX I stopped out premarket yesterday. But I have entered GSX again, was the same thing, gapped down, popped right into vwap, then building lhs and failing vwap, same setup on all of them. GSX I’m locking in like 5% at a time, you have to, these things are very volatile, it could very easily rip back to like 120, just for ease of mind.
• NOK I can’t believe this thing, was up almost 80% in 3mins, so stupid.
• JAN been halted this is the 5th time.
• SLV could be orhs, it’s actually breaking out of a big flag, it doesn’t matter if wsb are pumping it, it actually has a good setup. I went in big on SLV, it was such a tight stop I couldn’t resist, 400kshares. Yeah SLV is very low ADR that’s why I also have a pretty decent position, with very low risk, my risk is what 0.5%, look at this thing could rally, could go up 50/60/70% in a few months, if it wants to, just breaking out of this flag range, been building hls for 4/5months, breaking this 6/7month range. AGQ is very thin too thin for me, ah f*ck it I’ll buy some, actually it trades very thick, I sometimes forget these etfs they can have very low volume but still trade pretty thick. Okay now I have a big big exposure to Silver. Stopped out, no juice at all. Really wtf was that all about, the shakeout. So Silver is right back, I’m gonna look for a tight intraday range if it can go sideways hold vwap, I think it’s gonna go, the volume is already above average it’s gonna trade 50/100M+. SLV setting up now, building hls intraday, I’ll buy back the size I had, or maybe not the same size bc I had a really tight stop, when I initially bought it I had like a 20c stop including slippage, I doubt I can get that tight a stop again. This silver starting to setup up intraday, it has a range here, building hls, I’m gonna rebuy that 400kshares and if it closes strong I’m gonna hold most of it but it needs to close really strong, like 25.50 or something.
• TSLA I am watching, if it cannot reclaim the 20day things could get interesting, very interesting. Short some. Stopped out. TSLA reclaiming really nicely, it’s hard to get bearish on speculation money when TSLA looks like this.
• GBTC had a very bullish candle yesterday, if you want a long term position in GBTC, it was a good setup yesterday. BTC is bouncing off the 50day again, and now it made a hl, two hls compared to this candle here [4/1/2021], I think it’s gonna go.
• ETHE bought some through highs.
• MARA is flagging, hls lhs, hard to tell rn if it’s a bullflag or a bearflag, could be either. Bought some breaking out. MARA I got filled 1./10th size, damn, why are these things going higher now, BTC is still rangebound.
• BTBT is a very good setup, hls, tight range, and BTC is about to, looks bullish, building hls and if it can get tighter for a fmd would be ideal. Bought some breakout.
• This MSTR I think this thing looks like it wants to go to 1000, BTC had a decent dip, tested the 50day several times, but this MSTR only pulled back to the 20day, touched it then it build a wick and now it’s back into this range, feels like if BTC gets a little bit of juice this thing is gonna go to 1000, looks really really powerful, incredible rs.
• FSLR, it would be better if it tightens up a little bit, I think it’s better on the weekly, but it’s a big laggard all the other Solars have had big runs SPWR, ENPH, idk and like TAN this etf looks like it’s soft rn is below the 20day, idk I wouldn’t be looking for breakouts on Solars rn.
• SNAP showing incredible strength, held the 50day and now it’s back into range, needs to tighten up a little bit preferably. And it had an incredible ep back in [21/10/2021] look at the volume, this is what an ep should do.
• APHA, had a nice setup here [6/1/2021] that’s where I bought it, and sold it this day [15/1/2021] but now I think it needs to tighten up a little bit more.
• I just don’t see anything like ‘wow this looks good’, like there’s a few setups here and there but it’s usually not a great sign, the best time to buy stocks is when you have a lot of setups, when you have to pass on things left and right, that’s usually a good time to buy breakouts, not when everything is weak, everything looks very extended, or they just looks very sloppy like they’ve been going for months and months and haven’t participated in the rally.
• PLUG is breaking, but it’s still holding hls, but later in the day if it starts breaking down below this 65ema, a lot of these stocks they could go straight to the 50day, they don’t even have to care about the 20day, that’s the point we are at in the markets rn.
• When I see a stock I can immediately see if it is something I would remotely trade or not, it takes like a split second, when I scan I go through this fast and if it looks remotely good then I look at it a bit longer like how good is it 3/4/5*, I’ve been doing this for many years.
• Just need one more downtick on GME for a new milestone, 8 figure day. And this is what happens, you don’t need to catch all the action, if you can just catch part of it, you don’t need to catch every move in the markets, just stay in your lane and that’s all you need. I just realised I can take a screenshot, I reached the magical number. Aaaand it’s gone, I just jinxed myself, instantly gave back 1M. This is where the educated trader, meets the uneducated speculator, it creates opportunity. If you have a setup, if you have a process, if you have risk management.
• It’s all about percentages, the numbers don’t matter, it usually doesn’t hurt unless I lose like 10% of my account, if I get a 10% drawdown that’s usually when it hurts, but like 5% account drawdown when I had a 5k account vs having an account that’s tens of millions it feels the same, even though the numbers are incredibly different, it’s all about percentages.
• I rarely daytrade, but this reminds me of FNMA in 2014, I once made 50% on that thing, and the best thing about otc stocks they don’t halt. So the stock first went from 30c to $1.40, pulled back made a long sideways base, look at this flag breakout here that’s just 5*, then it went from 80c to $5.40, this is the GME moment, and it also had a mean reversion long setup 3days later. Anywho, here I shorted it up here, just like GME, big run then you could have waited for that first previous candle break on the 5min that was the entry, and then you wait for the first for the first green candle or the first candle break to the upside on the long side. GME rn we’re right here, and idk if it’s gonna pullback to the lows but I think GME is gonna retrace back to like half the move it made from the lods, so I’m thinking it goes back to 200 intraday, and then maybe bounces again, and then it’s probably gonna slowly fade from here. It’s the same thing, you gotta build these pattern databases, it’s the same patterns over and over again.
• CLSK you’re right there is a head and shoulders pattern here.
• NXTD going, omg was a picture perfect breakout intraday, for you daytraders out there, look at this hls, lhs, triangle just a perfect flag intraday, got really tight and when it breaks out of this flag on high volume, that’s the entry, and then you use your stop should be maybe somewhere about this hl here, and you know this thing could go to $3/4 in the next few sessions, if BTC can keep this up.
• There were so many nuggets, I showed you real time how to trade these things, with set r/r setups, and I showed the same patterns repeating over and over again, it’s all about you building these pattern databases like I talk about almost every day, it’s just the same thing over and over again.

Misc:

• I don’t want those people, I only want future market wizards.
• Stockbee; EPs, also the simple breakout setup, that’s where I learned. He also has a bunch of stuff on memory and psychology and stuff like that that’s really good, expertise development.

#masterclass #shorting