374 [Leaders breaking out. Jul 20, 2021]

  • BOIL I bought some here yesterday, these two 1min candles may or may not have been me. So far having some nice follow through, this thing usually has some nice success off flags like it had back in 2018, had a big big flag was wide and loose but made a big move, consolidated and gapped up over this flag area and held and just went straight up.
  • UVXY I’m long a sh*t load, some from Friday some from yday. Looks like I’m gonna get stopped out of another piece, I’m just protecting profits I’ve given back some, I had a lot of shares came in today long 500k but some 1/3 of it, gonna sell another 1/3, was hoping for a bigger move. I gave back 3M so far, guess I should have sold more. As soon as the market starts upticking, UVXY just tanks this is what vix products do, but if we had another just one more down day on the SPYs say down to the 100day, UVXY would have gone to like 50 and I would be up like 15M on it, that was the bet I was making.
  • AHPI bought some yesterday, faded off pretty hard.
  • AMC still short from 2/3weeks ago.
  • TQQQ short from last week.
  • APT long since yesterday.
  • MRNA is it gonna be a short setup today or should I trust the 10day? It’s up 40% in 2weeks it’s a megacap stock, that’s an enormous move. A megacap stock up 40% in 7sessions, it’s pretty crazy, 115B mcap, you don’t often see megacaps making moves like this. If we close strong and gap up tomos that would be a 5* shorting opp, reminds me of what it did Nov2020, got extended and then started moving in gaps.
  • This is the thing, this is why you always trail, I think you should sell some into strength but thing is a few times per year or more, you’re gonna catch a stock that makes a huge move 100/300/500% if you’re trading micro/small caps, and if you sell your position after it’s gone up 30% and then it goes up another 400% you kinda missed out on the opp there, doesn’t make sense to sell everything after 3-5days, I think it’s good to sell some, but then trail the rest. NVAX is one I had last year, I bought it on the breakout here [15/6/2021] and it doubled in a couple weeks looked extended I thought it was gonna pull back $50, I sold it this day here [26/6/2021] and look what it did found support went sideways a few days then more than doubled from there, if I had just used the 10day. If you focus on the momo leaders, every year you’re gonna catch moves like that, and the key word here is catch the move, you can only catch the move if you use a trailing stop. Sometimes it’s scary, sometimes your stock is gonna look really extended, but I’d rather sell a little bit too late on a stock that went up 200%, than sell too early on a stock that’s about to go up 200%.
  • ARKK held the 50day, could be a long setup. I saw the long setup here [20/5/2021] but I didn’t take it then it went up 25%, not bad for a very liquid etf.
  • TSLA holding up really well, undercut and reclaimed the 200day yday, as long as it’s above the 200day I’m gonna be bullish on it.
  • BTC looks like sh*t, look at the series of lhs, looks like it wants to take a dump to 20k or something. ETH kinda looks weak too, DOGE too, cryptos are dead rn.
  • SPYs held the 50day again, usually when something tests could be a trendline or MA, eventually it’s gonna break, but it’s holding here. Held the 50day here, once, twice, 3, 4, 5, 6, 7, 8 times just this year, that’s pretty impressive.
  • QQQs would be better if we just got a decent flush, down to 200day or something, leg lower consolidate another leg lower, just like Feb/Mar2021, then have a better rally with more setups and more things participating. Look at the QQQs this rally looks great like easy money but it wasn’t at least for me, there’s a difference between a rally and a rally. After a long decent rally like this, 10day starting to slope lower, it’s an orange light, but you know always have to follow sell rules.
  • NET, CRWD, fmd sideways gonna be very good setup, SHOP also.
  • AEHR yeah day3 short, went up 148% and yeah, orls low 6.80s and stop would have been 7.15 or so, this thing could very easily go back to mid/low 4s over the next few days.
  • CPOP, omg this thing is down 90%, yeah it could work could easily bounce back to 10/11 that’s actually a pretty decent percentage move, like 40/50/60%, yeah could be a mean reversion play absolutely, something like this doesn’t have to bounce, but when they bounce they can make very big bounces, but remember there is no reason for something like this to bounce.
  • ALB, no I sold at like 171 yesterday, I got shaken out of this one, I thought it was gonna go lower.
  • Why do I trade a pump and dump like AMC? Bc I like money, that’s literally my job to make money. People are constantly looking for reasons not to make money, there’s always something wrong, oh it’s a meme stock, oh the valuation, oh but the bonds, but this but that oh, you see it all the time all these weird reasons for not taking a trade or making money. No one is gonna roll out the red carpet, there’s always issues going on, there’s always something wrong in the world, something to worry about, no one is gonna roll out the red carpet for you like now it’s safe to make money, that’s not how it works, there’s always something to worry about, but the key to successful trading is ignoring all those things, ignoring all the noise.
  • I remember I was long FSLY last year and it had pre announced, it had made a decent move went up almost 60% in a few weeks, and I sold maybe 20/25% into strength, then it pre announced and gapped down 27%, but I sold it ah/pm, that’s one gap down I remember that sucked, I went from being up a lot to selling pretty much break even. FCEL was another I remember I was eating sushi, was nicely up 35/40% I thought it was gonna go to $4/5 speed up, but instead it had some news premarket again kinda gapped down 27% and I gave back all my profits, I thought it was gonna be a huge trade but instead it turned out to nothing.


  • So you’re telling me this is what the blue origin rocket looks like? Okay. Alright.


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