419 [Give us a good washout! Need some panic for a tradeable bounce. Dec 3, 2021]

  • IWM I do like this high green volume candle yday.
  • KWEB has been tanking straight down for a while now, like 6months. So I’m kinda surprised these China EVs held up, but yeah they got them yday.
  • There has been some chatter about China delisting these ADR stocks, but if they don’t, there’s gonna be some incredible opps in these China stocks, just incredible opps.
  • ASAN right on the 200day, I haven’t done a long mean reversion play in a while, this may be my first in many months. Also right on the 40weekly, and on the 10monthly. If it’s gonna bounce, it’s gonna bounce from here.
  • DOCU this is a heavy gap. Kinda funny how two earnings reports ago had a big ep made a big move 47% in 2months, now it’s gapping down big, 2Qs difference. DOCU is back where it was mid 2020. Stairs up, elevator down.
  • F is intriguing, if the market was good, this flag, it’s been showing such rs, but we’re not in a buy the breakout type of market.
  • TSLA is a huge short position for me now, tight stops, I think the r/r is very good. Let’s go TSLA. At this account scale I don’t think I’ve ever had a 30% short position in anything before, these types of dollar amounts.
  • I really do think we need at least one more washout in the markets, the bigger the better. A dream scenario would be like the QQQs test like mid 300s next week, get a waterfall decline, undercut Oct2021 lows, that would be awesome. The worst type of corrections are the slow ones. The more the market goes down, the more bullish I get.
  • Let’s look at the COMPQ I’m gonna show you where my biggest gains have come. This period here I made 50% [Oct-Nov2021]. This here I tripled my accounts. [Oct2020-Feb2021]. This rally here, again I probably 3/4x my accounts [Mar2020-Sep2020]. Here coming off a 5month chop, I also had very big returns [Oct2019-Mar2020]. This period here, again big returns, that’s where my money came from [Jan-May2019]. So yeah, the biggest money comes after these corrections, or like long consolidations. You’re gonna be in a drawdown 95% of the time. Remember that guys, you can 500% a year and be in a drawdown 95% of the time, that’s just how it works.
  • ARKK has no support until like 70, that’s the next support, 25% from here.

Misc:

  • Thumb method only works when the retard money is hot. In markets like this, Thumb method doesn’t work, unfortunately.
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