288 [Many extended names getting sluggish. $RIOT parabolic short. Feb 17, 2021]

  • RIOT I sold premarket, nice 170% in less than 2 weeks, now I’m looking at it to the short side. Shorted orls. Decent loss on this RIOT, could have just kept it long, life would have been so much easier. RIOT I had such big size before and now it looks like it’s starting to fizzle back, it’s below vwap now, made two lhs on the 5min, and now it’s below vwap, trying to get back to the size I had. This thing could very easily pullback to the 10day, even if BTC keeps going higher, don’t for a moment think this thing can’t go lower, don’t overthink these things guys.
  • MARA still long but prob sell this one too. Yeah just like MSTR pulled back 32% even though BTC didn’t pullback, these can pullback too, if the setup is there then the setup is there. Oh MARA hitting new highs, great now it’s gonna go to 80 without me.
  • NIO got out premarket, things are starting to feel pretty sluggish here.
  • SEDG, pretty sh*tty Q, neg eps neg rev growth, but they expect some growth in ’22 that’s why it’s higher, it had good earnings a couple of years ago, triple digit eps, mid/high digit rev growth, but now the earnings are not here. ENPH though, actually the earnings have also slowed down but these things are more like cyclical companies, this thing had insane earnings like 2 years ago, now the earnings have slowed down. Cyclicals are tough, they don’t necc trade on current earnings, that’s why I prefer growth stocks, much easier to trade. SEDG bounced off the rising 20/50day, I shouldn’t have moved my stop higher.
  • SOS short orls. Wow SOS straight down.
  • TSLA looks like it’s bouncing off the 50day rn. Perfect bounce off the 50day, but the problem with TSLA, it could bounce back to 815/820 and it’s gonna hit these declining 10/20day, until it can reclaim those I’m gonna stay short.
  • TIGR looks a nice short setup, too thin for me.
  • SQ short the breakdown. Yesterday reversal candle, and got short today on the bounce.
  • ARKK also shorted, as long as it stays below this 65ema on the 60min. I just don’t see anything there’s no long setups, a lot of extended names going lower, I just don’t like it, I don’t think the edge is on the bulls side rn.
  • SOXL short, well it’s a very extended etf, semis have been a leading sector, but yesterday they had this type of a reversal candle, a lot of the stocks had this type of candle yesterday, these extended names, that’s what made me short it. Not really parabolic type of setups, but when you see and put things into context with a lot of things in different sectors do the same thing showing weakness, there’s no long setups, things are starting to look tired, it’s all about putting the pieces together, all about listening to what the market is trying to tell you.
  • I’m gonna get rid of more stuff, be proactive, I just don’t like what I’m seeing. This whole sector weakening these EVs and battery related names, when unsure, you get out, sometimes the market is gonna make you look like a fool but in the long run you will win.
  • GME breaking down again, what a pos, they can’t even bounce this thing. GME dollar volume down 99% from a month ago.
  • APPS yeah it had a big move but it also had fuel, wow up 7700% in 1.5/2years, this also had some insane earnings. If you can find these types of stocks early, you can swing trade, you can position trade, you can invest in them, these types of triple digit earnings and rev growers, there’s a big edge in trading stuff like this, you can trade them in so many ways. FUTU same thing, TIGR, there’s more of these, but unfortunately most of the time they’re gonna be smallcaps, but if you don’t have a big account you can trade these things. APPS look at the move it made from this ep [2/6/2020], this thing had been going sideways for almost a year, had this big ep, big vol, volume is the key, good earnings numbers, good guidance and ten bagger since.
  • I talked a little bit about this on my CWT podcast, he asked me a little bit about these some of the numbers like r/r ratios whatever and I have no idea, you get the big things right, the small things are not gonna make a difference. Unfortunately what most people do, they don’t get the big things right, and then they zoom in on all these advanced statistics and they start data mining like that’s not gonna help you, if you’re not getting the big things right the small things are not gonna help you at all.


Scroll to Top