• I do like the energy sector, XLE, XOP, most of the stocks in them, they look like they are consolidating nicely after the big moves, I do think they need a little bit more time to digest, let the 10/20weekly catch up, especially the 20weekly.
• GLD, SLV I like also, these things are also very strong.
• TSLA can’t even reclaim the 10day, just keeps showing weakness, again just like Friday, QQQ is gapping up and TSLA is weak. TSLA all out, yeah bounced off just above the rising 50weekly, just like CVNA btw, and SQ too, some of the biggest leaders bouncing off the 50weekly.
• Crypto markets I couldn’t care a less, they all tanked or most of them, ETH is the one that looks technically the strongest I guess, kinda still in an uptrend, BTC kinda looks broken, they’re prob gonna chop around for many months from now on, it’s gonna look like early 2017 for many months, they’re gonna bounce then fade again then bounce again, then we’ll see if they’re gonna resume to the upside or if they’re gonna fade off. Technically I just don’t see anything other than short term trading, or if you’re a long term holder obviously.
• If you can switch from different styles from week to week that’s great for you, I can’t, I can’t go into day trading mode and then suddenly put a third of my account in some really great trade idea that then doubles, it’s just not gonna happen, extremely few people can do that.
• You know why guys like me are rich? Bc people over estimate their abilities, I just looked at GME where about 1/4 of all the money I’ve ever made in trading over ten years came in one month span on two trades on GME. Millions of people came together and decided they’re gonna be overconfident in a group, so I figured maybe I should be under confident as much as possible, bc that seems where the money is.
• Day trading since you do many more trades, if you’re having some issues you can chop your account up much much faster than you can in swing trading. The fact is if you’re a trader with explosive returns you’re gonna have drawdowns no matter what, 20/30% are expected drawdowns, doesn’t matter if you swing trade or day trade.
• If IWM starts breaking above the 50day I’m gonna go long TNA and I’m gonna do size, this is maybe the biggest trade idea I see right now, if IWM breaks out above this flag oh man, think about it this is one of the biggest moves in like 50+ years in the major indices, and it’s holding up really really well, building hls, getting tighter. Gotta listen to the clues, we’re in a probabilities game here and we’re listening for clues, we’re trying to understand the clues the market is giving us, and building hls getting tighter in a tight wedge like this after a historic bull run, to me kinda sounds like if it doesn’t want to go down maybe it wants to go up. I’m willing to take that bet any time, as long as I have a good setup. Yeah idk what a head and shoulders is but you could also say it’s building a series of lower highs which means it’s gonna roll over, but it’s also building a series of hls, that’s why you gotta wait until it actually resolves, you can’t anticipate inside of a range, you have no idea, you have to let it tell you, you have to let the stock or whatever you’re trading guide you.
• One main reason people get in trouble trading is they don’t listen, they don’t let the stock tell them what they should do, instead they try to impose their will on the stock and the market and then things go to sh*t, bc the stock market really doesn’t give a sh*t about you or your feelings, or your opinions, or your background, or your monetary goals, or your monthly profit target. Guys do you know your best friend in trading, this white line here, that’s your stop, that’s your best friend, that’s your only friend in the stock market.
• I traded a lot of crypto related stocks, those things make even bigger moves than the cryptos themselves, just this year I nailed MARA, RIOT, GBTC, SI, MSTR, ETHE entry but f*cked the exit, I traded a lot of crypto related names, you don’t have to trade crypto outright to trade crypto, there’s a lot of proxies in the stock market and many of them move faster than the underlying.
• The hardest thing is sticking to one narrow set of setups, and timeframe, and it takes a lot of patience, if you’re new there’s nothing wrong with jumping around that’s how you learn, but after a few years of trial and error you kinda have to settle for something, and then you stick to it. If you study the most successful traders they all found their niche, you find something that works and you stick to it, and obviously you can try different things on the side, but jumping around from one thing to another rarely leads to success. But even if you stick to one single approach bc you know it works, doesn’t mean you stop trying out other things, bc you may find something else that works really well.
• DASH looks like it broke out of this range, this is absolutely a pretty good setup, I don’t think it’s the type of setup that’s gonna have multi week follow through, but for short term swing trading I think this is a good setup. The lower your timeframe, the more trade ideas you’re gonna generate. It’s a kinda beaten down name, the big runs usually happen when a stock is above its MAs, something like this is in a multi month downtrend, it’s never been in an uptrend, I mean the odds are low, not the type of setup where big moves start I would say.
• RBLX was a good setup, I just wasn’t sure about the market, felt like it was gonna try to break out and then fail, but f*ck, oh well.
• UPST 100% in less than two weeks, now what we wanna see is this thing pull back go sideways for a couple weeks let the 10/20day catch up then we”re gonna look for a setup, this thing has definitely shown leadership qualities from the day I bought it on the EP has been showing a lot of resilience.
• CLF has generally been a buy when it reaches the 100day, and now it’s near here again, X also has been a buy when undercutting or bouncing off the 50day.
• GME starting to poke out of this range, looks kinda good on the weekly ngl, looks similar to AMC a few weeks ago, but are they gonna pull a rabbit out of this hat again for the third time? Not sure. It does look amazing on the weekly, absolutely fantastic. Been building hls this whole time and now kinda breaking this range. Bought some. Had this huge move, building hls for like 3months, and is has this range, hasn’t really broken out of this range yet it’s like 189 or so.
• CPNG looks like the others, been bouncing for a week now and yeah, what most of these things need is to pullback go sideways for a week or two, if we get some real flag setups, those are the setups where big moves happen.

Misc:

• Celsius frozen berries, it’s my new fav energy drink. I drank so many Legends it’s not as good anymore.
• Your best friend is money in your pocket? What a boomer thing to say.
• Jesse Stine, yeah even though half the book is bs about personal development etc it’s pretty good, there’s a lot of lessons to be learned from his book.
• The only things I fundamentally believe in are Cumrocket and Doge.

#rant