• I wouldn’t trust any breakouts here, SPYs look fine, but QQQs, COMPQ need some time. There are select breakouts like RBLX yday, but I see a lot of these former leaders building potential bear flags, could also be hls.
• BOIL who turned the weather off? I sold premarket and had like 2-3c slippage. Definitely etfs are gonna be most of my money going forward, you can do some insane size in these things, you can be like 10x the avg daily volume without a lot of slippage. I’m kinda excited I discovered the etf thing bc I was really worried about the scalability of my trading. Another thing great about etfs is you’re already diversified, you can put half your money in something like TNA, I would never put half my money in an individual stock.
• CVNA looks very vulnerable on the weekly, if it loses the 50weekly could get interesting.
• TSLA looks like f*cking death, QQQs gapped up and this thing gapped down. ARKK too, looks like a potential bear flag, if these things go sideways for a few days and then break down gonna short the sh*t out of it, just don’t look healthy at all, just can’t even get up for air.
• AMC looks interesting, on the 60min, these types of flags had great follow through last year, looks powerful on the 60min, 6/12months ago something like this would go up 100% in a few weeks. AMC built another hl on the 60min, bought some. AMC, If you think this thing is going up bc of fundamentals you’re out of your mind, this thing is a pure pump, bloated af, the mcap is higher than before the pandemic bc they diluted a lot. AMC stopped.
• PATH another recent ipo that looks good.
• FNKO was a hell of a shake out, that’s what happens in markets like these, even the 5* setups.
• RRD yesterday, 3.5* maybe, had a nice little trend going, and a tightening range, then a breakout candle.
• AR, since Apr2020, only up 1800% not bad, many times these commodity/cyclical names can make enormous moves, especially the beaten down ones, the problem is they’re very very low mcap and illiquid when they’re beaten down.
• BTX it’s down 70%, these things don’t necessarily have to bounce just bc it’s down, they can bounce, but it’s been kind of an orderly selling, if you wanna do mean reversion longs I think like the ones that violently sell off are much better. It’s the same thing with shorts, you want violent moves not orderly moves, it’s the violence that creates the edge.
• DOGE in a bit of a tight range rn, kinda building hls, lhs, very tight range looking at the hourly.
• Instead of bottom fishing any of these like ROKU, CRWD, NET that are bouncing off their 150/200day, I just bought this FNGU, last time it bounced off a major MA it made a big move, 47% almost.
• A lot of these former runners are bouncing off their 100/150/200day, idk what to make of it, there’s a lot of setups like these out there, undercut reclaimed hls and now a range break, these are not the types of setups I prefer to trade, but just the fact that a lot of stocks are doing the same thing, could be a short term positive.
• All I’m doing is handing out fishing poles and teaching you how to fish, and if you don’t want to put in the work I’m gonna take the fishing pole and beat the sh*t out of you, then I’m gonna kick you out. You can make money standing, sitting, with a shirt on, with a shirt off like I’m a good example off, there’s many ways of making money.