285 [Many extended stocks building high tight flags! Feb 11, 2021]

  • TLRY stopped me out, went higher and now it’s lower again in premarket, it’s tricky lot of volatility up and down. TLRY and APHA I want big pops out of the gate, want them both to go up 10/15% out of the gate, I’m not gonna trade them out of the gate pretty sure but we’ll see. Damn these weed names not bouncing. Now bouncing a bit I hope they bounce way higher, I would love them to get green on the day. Nope these weed names cannot bounce.
  • MSTR, if you shorted yesterday orls, you should probably have covered at least 1/3, it went down almost 20% from the entry, you should have covered up maybe 1/3 at least then used a b/e stop or something, or highs of yesterday to give some wiggle room.
  • FUTU, I took a 400k loss on it yesterday and then it did this, not happy about that, hopefully it pops to 185/190 or something.
  • GME I am thinking about shorting orls, bc it tried to rally yesterday, couldn’t it’s just building lhs, reverse surfing this 20ema can’t get above it, this thing can’t come up for air, it’s so sad. Pm it tried to reclaim the 50day, couldn’t. Doesn’t matter if it’s options expiration, it’s irrelevant, what you need to stay focussed on is what’s actually happening in front of your eyes, the stock could be up 100% could be down 100% tomos, rn looking at the chart I would say the odds favour the downside. You look for opps where you have a big edge and a tight stop, and if you’re wrong take a small loss, and if you’re right take a big win, that’s the point of trading. GME gonna look for orls, needs to break down below that 49 area, take out pm lows to confirm the downside, rn it’s in the middle of a range, but it actually needs to take out pm lows to short it, until that happens it’s just rangebound and I don’t see an edge on it.
  • GME I think it needs to build a little bit more range, I think it needs to build some more candles on the 60min, but this thing if it can reclaim the declining 20ema, could also be a very good long, could go up like 50% in an hour, but you need to wait, it needs to confirm, nothing to anticipate, ever, never ever. It’s getting really tight here, tightness is good, on a really fast moving stock, and look at the ADR on this thing 67% unbelievable, this thing can make big moves either way rn I don’t know which way it’s gonna go. This GME looks like a victim, looks like a victim here, so far just totally unable to bounce. Shorted GME 1/3 size lods.
  • XL and LAZR, I’ve tried 2/3times and got stopped out both, both look really good, beautiful bases, they just need to break out and hold their damn breakouts.
  • Z it’s up in the stratosphere, there’s no surprise to the market, it’s already been on a big run the past 7/8months, almost 800%. The best EPs are the ones on stocks that have been going sideways for several months or years even, or have gone nowhere for a long time. That’s what you wanna aim for, but it’s kinda hard to find, every stock is pretty extended in this market, kinda hard to find. NVAX was one that was perfect, just look how it looked before, had been building hls for 6/7months, had this long range look at how nice and tight it was, then it had this ep on enormous volume. I dropped the ball on this one.
  • W looks amazing, looks great, been surfing the 200day, this thing made an enormous move last year, went up 1300% between Mar-Aug2020, went sideways now it’s just taking out this long range, all of the MAs are starting to turn higher. Reminds me a little bit of TDOC, kind of inside of a base, not too obvious but it’s one type of setup. It’s in a long base pattern, kinda of flag in a flag.
  • YI yeah it’s getting there. Oh guys do you see the setup here? When it broke out of this range, a htf, now it’s straight up.
  • BNGO this thing is getting tight, I can’t believe this market, stocks never pull back, they keep flagging then they go higher, I’ve never seen anything like it. If this thing closes like this today puts in a tight candle, 5* setup tomos.
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