EYES gapping down, gonna hold this until Friday, see if it can get back to sub 10/8. I should cover some, take the liquidity while it’s there, but gonna try hold most until Friday, 10day still 55% lower.
PLUG also bought midday when it broke out of this little mini flag on the 60min.
GME selling everything premarket, gonna start watching as a short now. Two really good trades, first when I bought it here when it broke 47 range, and then bought it here 130 or so, chased a little bit. Shorted some GME orls. I took two small losses earlier starter I was a little bit too eager, it’s still above vwap so don’t touch it here, I’m just a trigger happy trader, just a small starter like 1/5th size. Unfortunately I’ve given back 1/3 of my long profits trying to find a top on it, that’s what happens when you short above the vwap, I should know better. Ideally it holds up today and goes higher tomos, gonna be an enormous short opp, just a matter of time.
Shorting above vwap generally is bad bc for a momo stock to go down it has to show weakness, and it has to show some persistent weakness, usually when it’s above vwap it hasn’t shown some persistent weakness yet.
The problem is we are now running into these declining MAs, on ARKK, QQQs, so we’ll see rn the bounce is pretty strong but we’ll see if it fails or if it goes sideways and then keeps going higher, that’s where most of the setups will come.
TSLA running into the declining 20day also, but man this thing was up 20% yesterday not bad. Look at this magic yellow line where it just got rejected, just as it acted as support on the way up, now it’s acting as resistance on the way down.
When a stock is showing incredible rs, especially a stock that’s up 1000% in a few months, and it’s not going down when the market goes down, it’s trying to tell you something, your job is to listen. Something that’s up 1000% it’s not random, it’s not a random stock, it’s a leading momo stock.
SB good setup, SBLK also good setup, DSX good one, when you see a whole sector acting like this, it’s usually a good sign, the whole shipping sector looks very good.
TDC was a very good setup yesterday, big momo stock, orderly pullback, showed rs in the sell off, broke out of a tight range.
Stocks are acting so so, some are strong some are weak, this is why these types of market are very tough to trade unless you’re a very short term trader, you gotta be more aggressive in taking profits, it’s not a go go market anymore like we had most of last year and start of this year, not easy money anymore, gotta work for it. You can still swing trade in this market, but you gotta be more aggressive selling, can’t expect stocks to go straight up.
NARI yeah the volume is so so but the numbers are very good, one of the fastest growing stocks rn, I would have liked more volume, the best EPs have a lot of volume, they trade the average daily vol in the first 5-10mins, this this is already 50mins after open and barely at avg daily vol.
Let’s say it’s the middle of earnings season, you have 3/4 candidates for potential EPs, gapping up, big earnings/revenues, beat analyst estimates by a wide margin, not that that matters as much.What you can do is set an alert, draw a trendline at avg daily vol, that’s one way to do it.
I just marked all the good liquid parabolic shorts on the COMPQ with an arrow. That will give you confidence, that’s how you learn patience, if you know your setup only occurs in an uptrending market you’re not gonna attempt it in a downtrending market.
I should cover some, take the liquidity while it’s there, but gonna try hold most until Friday, 10day still 55% lower. 
Two really good trades, first when I bought it here when it broke 47 range, 
and then bought it here 130 or so, chased a little bit. 
Shorted some GME orls. 
I took two small losses earlier starter I was a little bit too eager, it’s still above vwap so don’t touch it here, I’m just a trigger happy trader, just a small starter like 1/5th size. 
Unfortunately I’ve given back 1/3 of my long profits trying to find a top on it, that’s what happens when you short above the vwap, I should know better. Ideally it holds up today and goes higher tomos, gonna be an enormous short opp, just a matter of time.
QQQs, so we’ll see rn the bounce is pretty strong but we’ll see if it fails or if it goes sideways and then keeps going higher, that’s where most of the setups will come. 
Look at this magic yellow line where it just got rejected, just as it acted as support on the way up, now it’s acting as resistance on the way down. 
SBLK also good setup, 
DSX good one, 
when you see a whole sector acting like this, it’s usually a good sign, the whole shipping sector looks very good.
