283 [Good margin calls vs bad margin calls. Feb 9, 2021]

  • PLUG man this is so tight holy crap. Wake me up when it’s at 100. It’s acting really well on the 60min, it bounced off the 20day yesterday and it couldn’t break down so I think it’s gonna go.
  • GME looks like it’s bearflagging again, looks like it’s gonna go straight to the 100day, it just can’t even bounce. So GME is right above the 50day, on the 60min it looks like death, just lhs all the way and another bear flag, just like it had here when we shorted it and it went down almost 40% the same day. Now it’s breaking down again and if it can’t hold the 50day it’s gonna go straight to the 100day which is almost 40% lower, I just continued to get amazed on the range on these things. I guess I’ll add to my GME short, it just couldn’t bounce. This is what happens when you just stick to setups, who would have thought GME would be an amazing short when it’s already down 82% from the highs.
  • KALV is a potential ep, it’s a phase 2 data, already traded 10x the average daily volume, probably a bit too illiquid for me.
  • NIO broke out yesterday, now it’s just a continuation move.
  • TLRY almost a double from where I bought it, I love this market, it’s literally free money everywhere, everything just keeps going straight up you can almost buy anything, anything with momo you can buy randomly and you will make money on it.
  • NFLX is too slow, so many better stocks out there, also exactly what I thought would happen these mcap EPs are difficult, the info on these things is so efficient, it’s better to focus on smaller stocks. By efficient I mean there’s really not much surprises, NFLX is such an over analysed stock there’s so many eyes on it, it’s very hard for it to surprise the market. EPs is all about surprises, big surprises that could be the start of multi week, multi month and even multi year moves, and obviously they’re usually small and midcap and microcaps that have the best EPs.
  • JKS I love this one, such a big big tight flag, yes it’s had some pushes up, false breakouts, false breakdowns, but overall the trend is getting tighter and tighter, that’s exactly what you want to see. That’s what happened to DQ also, got tighter and tighter and now, omg this thing is up 53% from where I sold it, all you have to do is use the 10/20day.
  • The entries are the easy part, setups are really easy, if you spend a few hundred hours studying setups you can identify a good setup in a millisecond, that’s the easy part. Patience, and now trading in bad market conditions, that’s the hard part. Position sizing, risk management, stop loss, that’s also easy like literally even brain dead can do it. The hard part is really selling, following selling rules, and having patience, patience to hold a stock through minor drawdowns, that’s the hard part, the stuff I’m still struggling with.
  • SPWR, it’s not a good setup now, no range here. It had a great setup here broke out of a range [5/11/2020] and yes the day before wasn’t really a tight day but if you look at the overall pattern was a classic htf, had a great setup here broke out of a tight range hls surfed the 20day [15/12/2020], look at it here broke out of a tight range bounced off the 20day [06/01/2021].
  • Focus on the setups, there’s always someone having some opinions about the stock, but all that matters is the price action, what the stock actually is doing, everything else is irrelevant. Just tune it all out, throw your tv out of the window it’s not gonna help you it’s all noise, analyst price targets who cares? I don’t think financial media gives you any type of edge at all, zero. The less you listen to others, the more you can focus on what’s actually going on, and the more money you will make. Instead what you should be doing is listening to the markets, what’s going on rn, that’s what you should listen to, the markets, the stocks, what are they telling you? That’s where the money is.
  • RICK is a strip club? David how did you know that? There’s not a single setup on this thing, what you want to see in a good setup is you want to see a strip pole setup, where it goes straight up, has an orderly pullback to the rising MAs, gets really tight then breaks out again. There’s not a single strip pole on this thing.
  • I know I usually recommend you guys use the 10day, obviously in this momo market I think the 20day has worked better for most stocks, you gotta make the decision for yourself. I honestly think the 20day is actually better for most, bc you’re gonna trade less, and I think trading less is better than trading more.
  • MSTR, every time I look at it it’s 10% higher, it’s gonna be a 5* short setup tomos. I still have a pretty decent long position in it, I sold half my shares I bought in the high 500s, the dollar position is still the same bc the stock is doubled.
  • Indices rn it’s just grinding higher, if you look at the daily just a slow melt up, if you look at the weekly it’s a big move, on the Log QQQs obviously compared to the ’90s it’s not very extended but you know the best time to buy stocks is usually when the indices are hitting some of the longer term MAs, not when it’s already up in the stratosphere generally. But I wouldn’t say we are really extended, QQQ could go straight to 400 before we get any type of pullback, we’re just surfing the 10/20weekly very orderly, there’s no parabolic tendencies yet, just slowly grinding higher.


  • Doge, doge, doge, yes I nailed it. Repetition is the key to mastery.
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