- Looking at QQQs and we’re getting into dangerous territory here, this is where people are feeling super bullish but it’s an illusion, this is where you should have been bullish not here, this is dangerous territory we’re approaching something like this or this, if you’re not already long and strong in a bunch of names it’s a bit dangerous, there’s still gonna be trades on the long side but for me they’re gonna be shorter.
- The rally here rn is super narrow, it’s like a dozen stocks pushing the big indices higher, super narrow rally, I don’t know what to make of it yet, maybe the breadth catches up or maybe we’re gonna have some type of a pullback, one of those things, something has to give.
- IWM if you look at the weekly this is an incredibly powerful looking flag, we’ve had an enormous move from the 2020 lows 145%, this is an index, and it just keeps building hls, surfing the 20weekly,
rn it’s a laggard compared with the SPYs and QQQs but if this breaks out could go to 300, it’s either a big top or a rocket launch site and we don’t know until we know. 
- TQQQ I’ve been shorting a little, I’ll add more if it takes out lods.
- ALEC yeah nice volume was a perfect ep, looked good.
- MRIN if it can get back to 22s/high 21s I’m looking to short.
Shorted orls. 
MRIN on the way up here hls, hls. 
This is the backside, you see how the 10/20emas acted as support on the way up, and now they’re both sloping lower and acting as resistance, this is backside. 
MRIN I shorted yesterday but didn’t have the bp to hold overnight so I shorted orls today low 19s area. 
- BLIN another 39% to the 10day, these things are just getting started.
BLIN is the same thing 10/20ema was sloping higher and every time the stock dipped it found support, now they’re both sloping lower and they’re gonna find resistance. 
BLIN I shorted yday orls, I shorted here in the low 13s and mid 12s. 
- AMC may be opportunities on the short side to add a bit more, this thing is gonna fade back to the 20s.
AMC to the basement, I had to join Kenny boy, the technicals told me. 50day is the next target, still 23% off. 
- NEGG up 200% yeah not a big move for a micro cap, 200% is nothing, this is what micro cap stocks do, that’s called small account edge guys.
It’s already at 50, yeah maybe for tomorrow I’ll watch. 
It had a nice htf on the 60min yday late day, perfect htf and another one here. 
Congrats to who bought it, this is what sell rules are for, if you randomly sell without trailing any shares now and then you’re gonna miss out on moves like this that are gonna make your month, quarter and even year, you should always trail some. 
Today all of the speculative stocks coming apart, and you have this random stock up 155%, and it was already up like 200% coming into the day, you never know when you’ll catch something like this, and you only need a handful of these per year. Obviously on something like this you can’t use the 10day, so either use like the 10ema on the 60min or wait until close but there’s no right or wrong answer on this one, but the next pullback it has is not gonna be 10% it’s gonna be 30/40/50% and it’s not gonna take days it’s gonna take hours. 
This is also why you don’t short frontside, these halt stocks if you get stuck in them, that’s what happened to me on KODK, looking for an entry now it’s getting halted all the time is just gambling. - Why are you feeling terrible for your friend? He’s learning some extremely valuable lessons that are worth much more than the 150k, it’s a good thing, unless he refuses to learn anything from this. If he chooses to learn from this that lesson is gonna be worth much more than the 150k he was up on AMC, trust me on that one, he’s gonna be making so much more money in the future if he chooses to learn the right lessons, it’s a choice.
- FNGU sold, should have waited for close really, but it is very easy to buy back though, if it starts breaking this high 38/low 39s area that’s a flag break, very easy to get back into it.
Misc:
- Blocked guy for saying ‘it’s so fun to see people being squeezed’. That’s perverted behaviour, never fun to see someone losing money.