290 [Lots of strength under the surface but not many good setups… Feb 19, 2021]

  • GME now it has broken below this base, this little bear flag here the past two days, and it’s already down 20%, and still not even close to the 100day, what a disaster.
  • TLRY I missed the late day breakdown on this thing on the 60min, perfect bearflag breakdown.
  • PLUG what a big reversal premarket, undercut the 50day, now if this would have happened intraday if it had opened down here, it would have been a 5* mean reversion long setup, but now it’s gapping up. I am still short, covered some yesterday ah, still have about 3/4 position from the 64s.
  • RIOT could be shortable orhs if it takes out them, in case it wants to continue the selling, but rn looks pretty strong. Got stopped out of some MARA and most of my RIOT, RIOT held the 10ema for now, if it takes out the lows of this candle maybe I’ll add back. You can clearly see MARA showing rw compared to RIOT, MARA almost at lods, RIOT still holding above vwap. RIOT is strong, I thought was gonna pullback to the 10day at least but nope. It had its AM pop, and we’ll see, if it starts losing vwap later I’m gonna add back more. Done with MARA and RIOT, not gonna touch them again today, they’re just way too strong.
  • SLV bought some, silver related names breaking out. I bought AGQ accidentally, looking at the SLV chart. Sometimes volume on these etf types can be misleading, doesn’t look like much at all, but man it’s liquid. I’m 40% of AGQ volume today, and you can do 100kshares and the slippage will be like 1c, it’s incredible. I like AGQ more bc it has a higher ADR, this is why ADR matters guys, you need to have some type of indicator where you can see the percentage volatility of a stock. Look at SLV the unlevered Silver etf, look at the breakout here [30/6/2020] this thing has a current ADR 2.5%, look at the breakout look at the move it made, almost 65% in about 1/1.5months. Now look at AGQ, this thing has twice the ADR 5%, look at the move it made, 155%, this is why you should stick to high ADR stocks, if you have two good setups, pick the one that has higher ADR. That’s part of having an edge, you build your edge by having all of these things in your favour, where everyone else doesn’t see the difference between different stocks.
  • TTD, I chased half size I missed it, I saw it in 850s I was like I’ll look at it later, then I looked at it again it was like 880, can’t believe I missed it. Damn it I’m in half size, and I bought it like 874s.
  • TTD, orhs just as it started to break out of this range was the entry, it had earnings so you know it’s gonna pick a direction, it’s probably gonna rocket in that direction. It’s not a 5* setup obviously but if you add in the fact it had earnings, it’s just a regular breakout, treat it as a regular breakout. When you have breakout setups that breakout on earnings, it gives fuel to the setup. Always orhs.
  • CCIV could be a good short setup, it is getting extended, well it is extended 27% to the 10day, maybe if it breaks down later like midday or something today, I’m gonna try short it if I see a really tight setup.
  • TSLA is it starts losing the 50day next week or something, gonna have to short, but also if it goes sideways a bit longer another 3-4days builds hls, could be a nice long setup.
  • CASA sure it’s an ep, big volume big gap up, it all depends on the news, it needs to have some kinda catalyst that could propel the stock higher for weeks and months to come.

Misc:

  • Kicked out of vision.
  • Theyvid.
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