335 [Slow but big bases are forming!! Apr 30, 2021]

  • OCGN, kinda flagging and not going away, maybe for next week.
  • TKAT wasn’t anything special especially in this market, if it had been Jan/Feb2021 I prob would have longed this, but things have not really worked much, I’d rather wait to see them start working before I take these types of microcap setups.
  • A lot of things hovering inside of ranges, will make big moves once they can actually break out of those long ranges, that’s a good sign, the key is to survive this type of a market.
  • X holding the rising 50day, inside of this consolidation, not breaking down, this is an example of a stock down on the day but still showing strength, built a hl, found support on the rising 50day. That’s a good nice candle, this is what you wanna see, tests the rising 50day and it’s acting as a support. This is called strength, they gapped it down and now they’re buying it up again.
  • UPWK, building a range here getting tighter, looks much like FVRR does.
  • BTX, wasn’t a great setup, I would have preferred if on this day3 it had gapped up instead of gapped down, but yeah was one if you found a good entry on it.
  • ZM is one potential bearish flag I see, not looking good at all.
  • I buy breakouts, sometimes I anticipate a little bit when it looks like it’s about to break out but still hasn’t, maybe I buy like 1/3 or 1/2 size, but generally I wait for things to break out.
  • The only time I use the word resistance is when something is in a downtrend. Let’s say this TAN etf, the 20/50day acted as support on the way up, and now on the way down, both the 20/50day have been acting as resistance. So only when things are in a downtrend do I use the word resistance. But like when I bought this breakout here, I don’t see this as resistance there is no resistance, it’s a range, there is no resistance on a stock/etf that’s about to hit aths.
  • Struggling trader feedback: MU [16/3/2021] good setup but the conditions weren’t good for breakouts. WDC [16/3/2021] same as MU not as good of a setup. HUYA [17/3/2021], this thing actually worked, I don’t do a lot of breakdowns except when there are really extended stocks. TME [17/3/2021] again mid march you shouldn’t have bought any breakouts there, bc the COMPQ 10day below the 20day and sloping lower, but worked for a few days then went to sh*t. TAOP [17/3/2021] it’s a good setup but again mid march.
  • Struggling trader feedback: MREO [22/3/2021] not a good setup, all over the place, wide candles, wicks, no linearity, look so random. DDOG another breakdown setup [24/3/2021], same principal like if you flip the chart you will have a breakout setup, two tight days, was a good setup but didn’t work out, these types of setups are super random, I don’t do these bc they’re just super hard. APTO [30/3/2021] the volume kinda died off, these kinds of setups worked really great like Dec/Jan but if you’re gonna buy any of these high flyer microcaps, you need to ask yourself have they been working recently? If the answer is yes go for it, if no, pass. GPRE here was a decent setup [31/3/2021] this is where it broke out, not here [1/4/2021]. SIFY, don’t do the microcaps that are surfing the 50day, only buy microcaps that are surfing the 10/20day, you can do the 50day on mid/lcap stocks bc those have institutional support.
  • Look at the COMPQ and the IWM, most of the stocks you guys trade are gonna be in the IWM. The 10/20day, and if those conditions are not met, it’s generally not a good time to buy breakouts. It will keep you in most of the good markets and it will keep you out most of the bad markets.
  • Market conditions are super important. Any idiot can learn a setup, the hard thing is to realise when it works and when it doesn’t, that’s what takes time. What works in Jan won’t work in Mar, market environment matters.
  • GMBL these kinda barcode setups, look at these candles all over the place, this is not a tight setup. Versus something similar market cap like CGC, this is tight right, or TLRY, this is tight. You want linearity not randomness. SENS yeah, look how tight it looks, and here, that’s what you wanna see, you want wide ranges that become tight ranges. I’m always looking for tightening up action, rs, hls, I want the odds on my side, I don’t want random things in my portfolio.
  • I don’t look at volume, but yeah generally when a stock goes sideways in a narrow range it usually has less volume, but I really don’t look at volume unless it’s an ep, as long as it satisfies my minimum dollar volume requirements idc.


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