BB and AMC both look like they want to go way way higher, AMC lagging a little bit, look how AMC has been building hls surfing the 20ema, relentlessly building hls. Entered BB and AMC long pm, in about 1/3 size on both.
AMC is now range bound again, I’m not touching it until A it either breaks out of the upper range, I think it could go up another 50% could easily go to 100, or if it breaks down below this 52 area, those are the ranges, rn it’s pretty much a gamble. AMC is near the 20ema on the 60min, I hope it builds an inside day today, bc a break either way of this day could make a big move.
BB showed rs but now it’s also as weak as AMC, it’s also range bound.
GME is the strongest one, this is the one I sold 250s, now it’s gonna go to like 400 without me. The one with the biggest price target is gonna make the biggest move, it’s an old wall street saying. All I had to do on GME was trust the 10day, I outsmarted myself, I keep saying you cannot outsmart the MAs, instead I looked at this AMC and said oh this thing is extended it’s gonna crash and GME is gonna go back to 200 with it, but here we are GME almost 350. This is one of the hardest things to do, you start rationalising things and that’s when you lose or miss out on a lot of profits, you can’t rationalise you gotta trust technicals.
CLOV getting some power candles here, I wish I had the foresight to go long today had the perfect flag break like 18.50s, this is the exact same setup I played on BB last week before it went up like 50% in 1/2days.
These meme stocks it’s all about momo, fundamentals will matter eventually but we are not in that phase rn, do not start rationalising things, bc you can’t, you have to trade the momo, trade the ranges. The money is there for the taking, all we have to do is pick it up.
A lot of bottom breakouts been working lately, like CCIV perfect bottom breakout here [1/6/2021], had a little bit of a flag, couple tight days and a range expansion candle. There’s a lot of setups moves like these over the past 2/3weeks. NIO was kinda also one this day [24/5/2021]. BNGO here [26/5/2021], so you can trade these flags they don’t have to be at the higher end range, they can be bottom flags too, just gotta pay attention.
FCEL also had a low level flag, you gotta study these things guys, the biggest winners come out of stocks that have made the biggest moves. Like AMC for eg, look at the big move it made before this big move started, same thing with GME look at this flag breakout here, it had a big move, made a huge move, went up 1000% and then it went up another 1000% after, that’s one way of finding big winners. You can also find nice moves like we saw Mar/Apr2020 especially in cruiselines airlines these stocks made enormous moves, those stocks can 2/3/4x very very fast, just a matter of preference and where we are in the market.
ABNB also had a nice little range breakout, look at the tightness day before then it had a range expansion.
SPCE nice follow through from the flag break yesterday. Something I’ve always struggled with is many of these beaten down former runners, like how far they can actually come back, that’s always something you kinda don’t believe it like you’re looking at it down here like what a pos and then 2weeks later it’s doubled. Trading is really an imagination game, I think the one with the biggest imagination wins, assuming everything else is in order. The people who try to rationalise everything with numbers and balance sheets and valuations they are mostly gonna be mediocre. The biggest moves in the short/medium term timeframe is usually stocks that can’t really back it up with business fundamentals or valuations.
If you study the biggest winners throughout history, 2000s, 80s, 90s, 70s, 60s, the biggest winners are generally gonna have high PE ratios, not always sometimes very beaten down cheap stocks can make big moves, but the problem with those is that they’re smaller cap, like say a lcap turns into a smallcap then bounces back to midcap, those are harder to trade if you have a big account.
BNTX I don’t like these candles. Nice pullback, so far found support on the rising 10day, if it closes below I’m probably gonna size down significantly.
XLF financials etf, they had a big big run, probably gonna pull back to the 50/100day or something.
LIZI yeah kinda building a flag, had a big big volume spike here now the volume has kinda gone but yeah, looks pretty decent.
RETL, XRT these retail etfs look at the flags on these things, they look absolutely insane, and obviously they are kinda moving partly bc of GME.
TNA going from the rocket launch site, this was so textbook, and I’m sitting in it half size.
I just don’t wanna get too stretched out, jump on everything, the key is to focus on a few setups.
LEDS almost quadrupled from that flag breakout, this is why you trade high ADR stocks, this is the reason.
As a new trader try to be as consistent as possible, try to risk about the same amount on each trade, bc you don’t have the capability of determining what’s a good setup, an okay setup, a sh*tty setup and a great setup.
Entered BB and AMC long pm, in about 1/3 size on both. 
AMC is near the 20ema on the 60min, I hope it builds an inside day today, bc a break either way of this day could make a big move. 
The one with the biggest price target is gonna make the biggest move, it’s an old wall street saying. All I had to do on GME was trust the 10day, I outsmarted myself, I keep saying you cannot outsmart the MAs, instead I looked at this AMC and said oh this thing is extended it’s gonna crash and GME is gonna go back to 200 with it, but here we are GME almost 350. 
This is one of the hardest things to do, you start rationalising things and that’s when you lose or miss out on a lot of profits, you can’t rationalise you gotta trust technicals.
There’s a lot of setups moves like these over the past 2/3weeks. NIO was kinda also one this day [24/5/2021]. 
BNGO here [26/5/2021], 
so you can trade these flags they don’t have to be at the higher end range, they can be bottom flags too, just gotta pay attention.
Like AMC for eg, look at the big move it made before this big move started, 
same thing with GME look at this flag breakout here, it had a big move, made a huge move, went up 1000% and then it went up another 1000% after, that’s one way of finding big winners. 
You can also find nice moves like we saw Mar/Apr2020 especially in cruiselines airlines these stocks made enormous moves, those stocks can 2/3/4x very very fast, just a matter of preference and where we are in the market. 
Trading is really an imagination game, I think the one with the biggest imagination wins, assuming everything else is in order. The people who try to rationalise everything with numbers and balance sheets and valuations they are mostly gonna be mediocre. The biggest moves in the short/medium term timeframe is usually stocks that can’t really back it up with business fundamentals or valuations.
