• BB tried to bounce yesterday but it’s below the 10day, not great. BB could not reclaim the declining 20ema, or even the 10day, fine means AMC prob gonna take out lods too.
• AMC tried to bounce and it is above the 10day which is good. My covers Friday were perfect $46 just when it took out the highs, you could see the signs was building hls for like 2days, then it broke this range that’s where I covered, my mistake was I should have gone long.
• AMC is a 20B mcap up 400% from where it broke out from the base, and it’s kinda surfing the 10day after this pullback, really reminds me of QS, this thing too was up like 350% from the base breakout, pulled back found support on the rising 10day and then started building hls and eventually went to 46B mcap, very similar. That’s something I’m gonna pay attention to, if it can go sideways for a few days build hls and then start grinding higher, bc that’s something that has doubling potential, but it needs to start surfing the 10/20emas on the 60min.
• AMC so strong, mall cop price target. I shouldn’t have sold the first batch damn it, I’m sitting in about half size in this thing, but boy am I glad I rebought it, if you get shaken out of a good setup you gotta get back in, bc the setup becomes stronger, once you get stopped out and it comes back it’s a stronger setup, that’s what a lot of people don’t realise, a setup that’s legit good becomes stronger after a shakeout, or even two shakeouts.
• SLV still in this range, actually needs to break out of this 26.50s area with some force, it’s not gonna go anywhere before it does that, just in base building mode.
• SNAP is about to take out ‘excess highs’ from Friday, did exact same thing SE did, broke out, took out lods, found support on the rising emas, started building hls on the 60min, then straight up since. SNAP exact same thing, broke out, took out lods stopped us out, found support on the rising emas, built a wick on the 60min then it reclaimed went back into range.
• NOVN holding up that’s good, when you have something like this, now it did close really weak on Friday even took out intraday lows, but if this thing holds up for a few days builds some hls on the 60min, could very easily have an explosive secondary move flag break. Volume was enormous, and it gapped up above the MAs. Beautiful intraday flag, these high ADR stocks if you’re a day trader and you’re awake you can make so much money, just focus on these very liquid high ADR stocks that are in play, trade these intraday bull and bear flags, you can scalp them, just so many opportunities, the same basic patterns over and over again.
• ITOS today look at where it gapped, it gapped to these MAs, couldn’t reclaim the declining 100/150day, gapped up below them and just straight down.
• AVXL yeah kind of an EP type of a breakout, idk if it had any news.
• RAPT holy sh*t this thing not bad.
• It’s not a discipline problem, it’s a confidence problem. Guys discipline is the most overused word in trading, it’s never a discipline problem it’s a confidence problem, bc you haven’t put in enough effort to build your confidence. If you study enough examples of a certain breakout or certain setup you will build confidence. You gotta combine studying and trading, most people all they do is putting on some random trades bc they haven’t internalised the setups yet, they all do these random things, you see it daily all these people struggling to follow the rules, happens to me too, but happens less. You gotta do both, study hard, you gotta out study most people, and you gotta combine it with experience, if you make no trades and just focus on theory you’re not gonna be successful.
• There is no real willingness to learn to properly trade, a lot of people think they wanna become profitable traders but most of them are just not willing to put in the effort and the pain that is required, that’s the problem. I think it’s the same things with alcoholics, once you hit rock bottom that’s when you wanna get your sh*t together, I think that applies to trading too, I hit rock bottom several times, and every time I was like f*ck it I’m not gonna give up, I wanna improve, I’m gonna figure this thing out, but most people just give up at that point.
• My accounts were 9k in May 2013, that was the turning point of my career, and here Jan 2018 I hit 1.4M, so about 3.5years to get from 9k to 1M. If you have a small account it’s not hard to make a few hundred percent a year, if you’re a short term swing trader you can make easily a couple hundred percent and you won’t have a small account after a few years, that’s the beautiful part.

Misc:

• WSB let’s see what’s going on.