• If you have patience during base building periods, then you can profit a lot once the bases have been built, rn we’re in a base building period.
• DISCA, and VIAC, obviously I’m in them bc I think they can bounce, but if they’ll bounce big idk, it’s the same actor that kept buying them here, and sold them here, there’s no reason for it to bounce back, it’s diff with stuff like BIDU and TME they’re much bigger, and also TME and VIPS announced buy backs. DISCA DISCK are moving, VIAC too, maybe I’ll add to it if it breaks this range. Added.
• BNTX, a lot of this is already priced in, and also how long is the them going to continue that’s the question, an EP is about having a big surprise, something like this you can ignore, doesn’t matter if it has triple digit earnings, unless it’s a spot where it has a really good breakout then it’s another thing, but stuff like this you can just ignore it unless you actually have a setup. Just bc something is gapping up on good earnings doesn’t make it a buy, needs to be something special.
• ZM, I’m short bc it’s showing rw, this thing can’t come up for air, it’s been relentlessly building lhs, and look at the COMPQ bounce recently the past two days had green candles, ZM has been going sideways, and it’s at a big break down spot, like a bear flag type of thing, that’s why I shorted it, it’s showing rw.
• I think I’m about 40% short, 40% long, I can’t see a direction for the market rn, stock picking is super important in these types of markets, can’t go with a blanket approach just buying every random mediocre breakout and expect to make money, that worked for the past year mostly but most of the time it doesn’t work, gotta be super selective.
• MU hopefully it can gap up on earnings tomos over this 88 area and go, this MU is a great trading stock, high priced, very liquid, very technically friendly, if you study the runs it had 2013/2014 and 2016/2018, very technically friendly trading stock.
• Stop looking at these decade long bases, it’s irrelevant, this is a completely different stock than it was back in 2000. Look at the mcap, there is more shares outstanding now, so the mcap today even though the price was the same the mcap is twice as high bc there’s twice as many shares outstanding, stop looking at these super long time frames it’s irrelevant, it’s not even the same stock anymore. If you’re a short term swing trader going back more than a few years is totally irrelevant.
• QQQ 2016, yeah it took out 2000 highs but QQQs had already been going up for 6/7years, nothing special about it, like you don’t need to see this, you can just go back and see it broke out of a flag, what matters is it had recent momo and it’s flagging with hls.
• XBI I should have shorted, this breakdown is so clean, look at this series of lhs, couldn’t get up for air, that’s a sign of weakness. Look at this beautiful five star breakout this etf had here [27/11/2020] that’s a 5 star, beautiful.
• You only use margin if things are going well, margin needs to be deserved, just bc it’s there doesn’t mean you deserve using it, don’t be a privileged brat. If things are not going well, don’t even try touching margin.
• BIDU was a perfect parabolic long setup, was down 32% in 3 sessions, and this is a lcap actually was a megacap stock just a few weeks ago, that’s a big move. Had one leg lower, went down 22%, little bit of a bounce, had a second leg lower, was down another 25%, and here the third leg lower, was the third day of the third leg lower, that was a 5 star parabolic long. The entry on this thing was when it stopped going down and built this first green 60min candle, the break of that was the entry.
• PDD bounced off the 200day, leading Asia stock, is like a low flag, not my traditional setup but could be a setup, MELI too, gonna start watching these. MELI back in sep2020 for eg, pulled back to the 100day, started building hls and then it broke out of this little flag it built above the MA and look at the move it made.
• SQ also riding one of the major MAs, building hls, you gotta pay attention to these things it’s important, and if you see a lot of stocks doing the same thing, that means the market is finally maybe ready to shape up, gotta pay attention. Simplify, you need to pay attention to what the stocks are doing, that’s the best indicator there is.
• FTCH, I like this wick down to the 200day, look how many of these leading stocks are now pulling back to their 100/150/200day MAs, and creating these kinda candles off a major MA and/or building hls, a lot of them are doing it, those stocks are still in a longer term uptrend. These stocks can be great buys when they’re off their highs, you don’t have to buy like htfs, these types of breakouts can be very good also, that’s where big moves start many times, they don’t necessarily have to be like htfs, you can buy these breakouts off major MAs on leading stocks that are in drawdowns way off their highs.
• I don’t really care about volume unless it’s an ep, if it’s a good setup just buy it. I bought AAL, I know it’s a liquid stock, if at the end of the day it closes strong on above avg volume great, if it doesn’t have the volume I don’t care, all I care for is follow through. Many times I’ve been in stocks that don’t have any volume increase on the breakout and they still work out great, so I really don’t pay attention to those things.
• EWY, south korea etf looks good, in this big flag, super low adr, last time it broke out of a flag made a big move, went up 40% in 2months.
• ZKIN bought breakout. Offering? f*ckers.
• I should probably start lowering the stops on some of my shorts, bc a lot of them are showing bottoming action. TSLA look how perfectly it’s bouncing off the 150day, look how nicely it under and reclaimed, next day it bounced perfectly off the 150day, and today bouncing perfectly off the 150day. Not out of the woods yet but I’m seeing good price action in a lot of stocks, many of them building hls, many of them undercuts and reclaims of major MAs.
• You can trade purely off of technicals, but if you combine fundamentals and technicals, oft, you’re gonna have super returns.
• NTLA, not a big position but I’m going for a big move, one of these gene editing stocks, this thing is in a big big flag, trying to perk out of this range, still not out I think it needs to break out of this area but the market is shaping up. Look at the weekly, needs to break out of this range here. Look how it undercut and reclaimed the 100day here and here. I’m risking maybe 7%, could easily double when it breaks out. Look at when it broke out of this flag here, obv not as good as a flag but it actually tripled.
• If you want to trade it trade it, you will only learn by trading it, the only way you’re gonna learn is putting your balls in the line of fire.
• RCON beautiful short setup, today was day 3 of the second leg.

Misc:

• Trading sim, this could be great, test your trading skills, I’m gonna create an account. Intraday only? Okay I’m gonna cancel my trial, this is not what I expected it to be.
• Anyone thinking about hiring a we work/ trading space in Stockholm let me know. I’m starting a cult, instead of calling it the office let’s call it the temple… and I’m the high priest.
• I will pick you up at the airport in Oslo, Switzerland
• List of trading losses, Bill Hwang is topping it. Wow so what we saw Monday was apparently historical.
• Reminiscences annotated version. I recommend everyone buy this one.
• If you’re a good trader you’re gonna grow your accounts very easily on your own, there’s no need for outside capital. It only makes sense for traders who are not wildly successful, who still maybe need some mentorship, or if you’re a highly social person, other than that I don’t get it. And they take half your profits, I don’t get it.

#rant #meanreversion #masterclass