364 [Meme stocks dying, semis and oil strong. TESLA weak. Jun 16, 2021]

  • I don’t usually pay attention to the FED but this meeting seems bigger than the average one, pay attention to the setups first, let’s see where the money is gonna go, what pays is following price, what pays is the reaction to what the FED says, you don’t even need to know what the FED is saying, you need to pay attention to where the money is going to and how and you need to focus on the setups.
  • CLF it’s not like it had one day volume spike, it’s had consistently high volume since the big breakout, that’s something to pay attention to.
  • SPI imagine catching this orhs [23/9/2020] in the mid 4.20s and then it goes to almost $47.
  • BNTX couldn’t rally, got rejected on the 20day, I don’t like that.
  • TIGR pulled back to the 20day yesterday that’s exactly where it should have found support, very good, acting exactly right.
  • AMC failed to reclaim 20ema, shorted breakdown. Too bad it had to shake me out this AMC, I had less size this time around. AMC failed to reclaim vwap for now, BB got rejected on the vwap. AMC ticking higher while BB took out lods. BB is the weakest one, maybe I should cover a few no I’m not gonna what if it goes straight to 11. Kennyboy fully in control now.
  • EOSE looks pretty good, I love how it hammered off the 20day yesterday, now it’s breaking the range.
  • AHT another one of the biggest momo leaders rn, prob needs another 3/4days at least, this is the one I can trade since it’s liquid, had the primary breakout somewhere here [17/5/2021] or here was the clean breakout on the 60min [24/5/2021].
  • BYND showing rs, yep exactly what you want to see very good, tried to dip yesterday and it’s right back into range, gonna be a big one I think the 20day needs to catch up.
  • I’m very bullish going into summer, there’s so many things software semis that made big moves last year and now they’ve been basing for 3/4/5months, some have already broken out but a lot just waiting to make explosive moves, as long as they’re staying in upper ends of their ranges it’s hard to be bearish or anything like that. AMD on the weekly, CRWD already broke out, SHOP broke out, SE broke out, NET broke out of a nice range, CVNA looks good and starting to tighten up on the daily too, NVDA sloppy base but it’s a leader, PANW very low ADR but this is like a 5* chart on the weekly, BILL another one. SQ building, ROKU got rejected on the 20weekly but I think in a week or two could be setting up again, MU building a base, PLTR one, SNOW looks great on weekly if it can reclaim the 255 area, AMAT and LRCX look amazing, SNAP beautiful range, FUTU looked great until it slammed back into range. BILI looks great, LYFT setting up.
  • ASXC ideally a fmd but yeah looks pretty decent, nice linear uptrend more than doubled pulled back found support surfing the 10day and now it’s tightening up, fmd be ideal. Made big moves earlier this year so we know it can make explosive moves, especially this flag here was beautiful [5/2/2021] look how tight it got on the 60min and then it had this range breakout beautiful, and a fairly tight day before had been going sideways like 2weeks, doubled in 3/4days beautiful.
  • SM had some pretty good setups here [4/1/2021] had a breakout here [2/2/2021] but was a red candle on the breakout day but just look at the setup quality, make a habit of drawing these triangles if you can’t draw a triangle the setup is sh*t, if there isn’t a range and hls the setup is sh*t simple as that.
  • UCO pretty good one, was surfing the 10day and then it found support on the 20day and gapped up over this range, look how linear and nice it was this is called demand, then it broke out of that range. Then it kept going and built another flag found support on the rising 20day, hls broke out of this range beautiful, those are the setups you wanna see.
  • Focus on explosive moves, look at the move prior to the flag pole, the previous move needs to be explosive, those are the ones you wanna focus on, you want to focus on elite stocks, the only way to have elite results is to focus on the lead stocks. PIRS this is what I talk about an elite stock, big previous move 170% in two sessions, pullback found support on the rising 10day, been surfing the rising 10day building hls and now it’s tightening the range, this pattern it’s called a triangle, this is an elite stock, if you wanna find a stock that had potential to make a 50/100% move you will get it on a stock that has tripled in a few days in the previous weeks or months, not on a stock that just keeps grinding slowly higher. It’s a numbers game, it’s an odds game, and this is a good setup, f*cking beautiful.
  • CARV yeah this thing doubled in a week, chopped around, surfing the 10day, fmd it’s gonna be a great setup, yeah beautiful. Same sector as UONE these black banks, UONE you should still be in 1/3 or 1/2 this is why you trail.
  • Struggling trader feedback: RRD [17/5/2021] that’s a beautiful one, beautiful beautiful beautiful flag break, should have trailed it with the 10day. TELL [17/5/2021] not a traditional setup but it was a range break and the whole sector broke out, not a great setup in itself but it’s a type of setup you can trade absolutely. RFP [25/5/2021] not a great setup was wide and loose, not an explosive stock. EYES [27/5/2021] again these types of setups coming out of the lows, focus on flags, these are tough. TAOP [27/5/2021] again just a random, don’t buy these broken stocks, especially not these micro caps they one and done, there’s no institutional support on them, no reason for them to go up, focus on flags don’t buy broken micro caps, once they lose the 20day generally you can just ignore them. AVID [2/6/2021] it was a flag absolutely but nothing exceptional.
  • Struggling trader feedback: SB [21/5/2021] this was a 5* setup but didn’t work out. CTXR [7/6/2021] wasn’t really a big momo stock and wasn’t nice and tight, did end up working out but not the point. MOXC [9/6/2021] not a good setup this is 0 stars, [8/6/2021] would have been a better entry 3.5 stars. CREX [10/6/2021] was a pretty decent setup, hls tight range just didn’t work out, you should still be in it. VTNR [14/6/2021] look at the wideness the previous days, look for nice and tight not wide and loose, this is not a setup it didn’t even break the previous day highs, don’t anticipate if you can anticipate it really needs to be something special. BCTX [15/6/2021] yeah this was a good setup like 3.5/4*, had a big move pulled back found support on the 10day, started building hls on the 60min you can see a bit better had this range, and this candle here would have been the breakout, correct entry would have been this 6 area once it took out the intraday highs, wasn’t like a really great setup.
  • Doesn’t matter if the previous day is green or not, look at the overall range and the tightness of the past few days, doesn’t always have to be tight but in that case the range has to be something special. Anticipation is like if you have a race and you don’t know who’s good or not and you just pick some random person, or you could just wait a little bit let the race start and see who the great runners are.


Scroll to Top