304 [SETUPS ARE BACK – BUT NOT IN THE USUAL SUSPECTS! Mar 11, 2021]

  • PENN I wish I did yesterday, all these others are laggards.
  • GME unfortunately I missed this whole big move when it went down 50% in 20mins, but I did reshort on the vwap fail, caught this little fade here and held some overnight. It was just straight down, too fast for me. GME gapped down then ran into this 10ema on the 60min, but looks like it’s gonna fail here, I’m gonna wait for the first red 5min candle, I will add and use the hod as stop for adds, still have core and using a very wide stop pretty much yesterday’s hod. Could very easily go back to the 10day, or lods yesterday. Gonna keep this wide stop for 1/3 position and if I see any good setup I’ll add, rn it’s just in a sideways range. GME still above the vwap.
  • FCX bought orhs, what a weird feeling I haven’t been long industrial metals in years but that’s where the strength is rn so you gotta go with it. FCX is the leading copper name, only problem is its already had a long trend, but setup is pretty decent, not 5* but it is the strongest sector.
  • I really hope these cruiselines and airlines go sideways one more day, bc if they do they’re gonna be 5* setups tomos, today they are maybe 3.5/4*, if they can stay sideways like this until tomos I’m gonna go full r*tard on them, but they’re prob gonna go today. JETS bought some.
  • BMBL volume is not really inspiring but it is a recent ipo, I guess it could be a hot stock, some scarcity value, but recent ipos can make big moves even if the setup is not 5*. Look at RKT, was a so so setup but almost doubled. Also it’s setting up again, maybe for tomos. Bought a little BMBL.
  • I wouldn’t really care about an earnings ep in an asset manager, they’re more for like growth names etc. Banks and everything finance related are just like super sketchy, one Q they can have great earnings, next Q sh*t earnings, just weird I can’t figure it out, I stick to growth names and commodities and cyclicals and those type of things, even though those can also be tricky. Growth stocks are the most straight forward, cyclicals and materials can be tricky since they usually make their big moves when the earnings are still sh*t.
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