305 [Serious talk and not so serious talk. Mar 12, 2021]

  • QQQs so now we got the rejection off the declining 20/50day, hopefully we just go sideways a few days and not go down I don’t wanna get stopped out of a bunch of stuff, increased my long exposure by quite a bit yesterday, there were finally some pretty decent setups I liked that were not bounce setups.
  • That was the pinnacle of stupid buying stuff yesterday, SE and SNAP, I bought them late day, I knew it was stupid with the QQQs running up into this resistance and here we are, here’s the rug pull and I got stopped out of both of them, I’ve done it so many times in my trading career, some habits just don’t die I guess.
  • GME watching this range, if it takes out low 280s yesterday’s highs I’ll cover the starter I have, and if it loses this low 250s I’ll 2/3/4x my position depending on the setup.
  • GME I said it would go up at 50 can I explain why? Yes, when you have a momo stock, and extreme momo stock, made an enormous move went up 14000% in 4 months, then it went down 92% in a month, and then it got tight, built this tight tight range here. When you have a stock with extreme volatility that gets really tight, usually that tightness is followed by volatility. That’s exactly what happens, it’s the same movie over and over again. Tight ranges, focus on tight ranges, doesn’t matter if it’s the 60min, daily, weekly, tight ranges is what you should be focussing on. So many people focus on these random breakout stocks that are coming off wide and loose, wide and loose is for losers, tight is for winners. Focus on tight setups on volatile stocks, this is why you should focus on high ADR stocks vs low ADR stocks.
  • CCL bought breakout. NCLH bought some also. I consider it the same setup/trade as JETS yesterday, 3 things in the same sector is enough for me for now.
  • Focus on setups, focus on stocks that are liquid enough and you won’t have to worry about volume, volume is for losers, it’s the setup quality that matters. Only time I look at volume on a specific thing is on EPs, those are the only volume kind of trades, you want to see a lot above avg volume very early. Breakouts it doesn’t matter, if you have a liquid stock it’s gonna be liquid no matter what, doesn’t matter. Many time breakouts the volume comes in after you’re supposed to buy it, if you wait for volume confirmation on breakouts, you’re doing it wrong.
  • CTRM yeah it’s a good looking one, preferably if the 20day comes down a little bit reaches the price, both the 50day and 20day get closer to the price so it gets a little bit of a pinch, and then it would be ready for a big big move, this one is really good. SNDL similar setup, ZOM similar setup, they’re all pretty much the same. It’s a nice sign, means speculation money is still there if these things are holding up and flagging.
  • JWN was a really good setup, long gone now but was a hell of a setup. M keeps going, KSS breaking out too, these re opening type of plays really working rn.
  • NCTY maybe starting Monday, it’s exactly the same as RIOT and MARA, they look exactly the same, trade on the same theme, so whichever looks best, I hope they all can go sideways a little bit, GBTC too. I hope BTC can go sideways another 3-4days, that would be great we’d get some really good setups in some of the crypto stocks.
  • They’re all frauds but if momo is there, the setups are there, it doesn’t matter, that’s the thing the biggest momo stocks are the sh*ttiest frauds. Every year if you look at the biggest micro and small caps that go up 1000/2000%, most of them are total pieces of turds, Frauds, sketchy management, they’re in the business of selling stock not actually having a product or service, it’s the same thing every year.
  • Most china stocks are sketchy as f*ck, especially the small and micro caps, most of them are outright frauds, but some of the best companies in the world are Chinese too, like TCEHY, BABA, JD, especially TCEHY these guys are so good they’re in all the leading sectors they’re everywhere.
  • You can make money focusing on a lot of things, but you won’t make really big money unless you cut out 99% of the noise, focus on very few things, that’s when you will start making exponential returns.
  • CAN was a homerun, probably needs more scaling out. You catch a few movers like this, so my avg was 23 my initial risk $1.50 and now I’m up $13 so 8/9x my initial R, that’s what trading is all about, getting these big multiples on your risk. And suddenly your 0.5% R on a trade you’re up 5/7% of your account on that trade, and like 10R on a long trade is not even that good, I’ve had trades where I made 50R and more, that’s what it’s all about.
  • Letting winners run that’s the hardest things, that’s why you need to study guys, you need to spend hundreds of hours studying big winners from many different market cycles, take the time bc then you will realise stocks can ride the 10/20/50day for big big moves, there’s no reason to sell if the stock is for eg above the 50day, educate yourself, know how the market operates, it’s the same thing over and over.
  • DMTK pretty good, big move look how cleanly it traded, how nicely it surfed the 10/20day, then it had a big pullback, undercut the 50day, closed above it, how it’s building hls above the 50day. Rn we don’t know if this is a bear or bullflag, whichever way it breaks, but this is a potentially very good setup, ideally it tightens a bit more.
  • I don’t really look at much market monitors, I do look at the indices, I stopped looking at breadth and sentiment indicators a long time ago, they were all overbought and overheated most of last year and I made 900%, I would have made 0% if I focussed on those, just focus on the stocks, you don’t even have to look at an index ever, I just do it bc I’m brainwashed since day1. All you need to do is focus on the narrow set of superstar stocks you get from the scans, just pay attention to what really matters.
  • VIAC could be a nice short setup starting next week, DISCA too, they’re getting there, starting to speed up now, that’s where our edge is in these things, let them speed up that’s when we go in, rule no1 of short selling, don’t be too early. When you have a trend, something like this that’s been going on for a long long time then starts speeding up, then speeding up even more, the odds of being too early greatly diminish.


  • I have an Onlyfans, Chart porn. Here is a picture of an NIO breakout from 02/10/2020, this is real porn, if bought this breakout at 20 like I did, this is one of the best breakouts from last year, and last year had a lot of good breakouts. If you bought it at 20 look at what it did, now you could have trailed it with the 20day, you would have gotten 150%.
  • I want to thank the FED, I want to thank the US Govt for the cheques, I want to thank my mom that I can live in her basement, and I want to thank my cat for trying to sabotage my trading every single day. Also I’d like to thank They, They made it all possible. Nocco too. Thanks for David. Robinhood, wsb I wanna thank that crowd too, crazy people. Thanks to Dave Portnoy for telling people markets only go up, he’s obv in the pocket of the FED, obv. Thanks to China for the virus, keeping everyone home bored so they started trading stocks.
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