71 [$SPCE coming back to earth soon? Feb 21, 2020]

  • WKHS bought 30k shares late day yesterday about 3.70, breaking out, all these green energy, renewable and electric theme really hot right now. This coming out of a nice 6 month base, higher lows for the past 3 months. Forward looking event Mar 4th, this thing could go. It had a big run from like 90c to 4/5 bucks last year.
  • NIO stopped out of midday yesterday for a small loss, but rebought in 4.20s, would add today probably. Just a weird intraday shakeout yesterday, a lot of things dipped hard then bounced. NIO stopped out, but made another hl on the 60min, that’s a good sign. Man a lot of stocks are just really coiled. It’s so easy to find the strong ones when the markets pull back, you can just see them, holding support levels.
  • AVLR did undercut the rising 20day but closed above the 20day so that’s a good sign, flagging here nicely.
  • TSLA had a nice little shakeout I covered into the shakeout and using this 917 as stop on the rest. If this thing closes strong I may go long again next week, tried to dip but just couldn’t, could maybe do something fantastic here soon. TSLA lowering stop here. TSLA now to lods, is holding up really well though. I’m watching this 880 area this hourly 20ema has been support for a long time if it starts fading that maybe even lods I may add more. TSLA I was short, then I was long here for a couple days I rode this move higher, now I’m short again. I’m just following price action. It had this big move, had a top, pulled back, started grinding higher, looked like it was gonna go higher again, but kinda put in another spinning top, just like it did before. I’m just playing the risk reward scenarios. Right now it looks like it’s flagging again. The news doesn’t really matter at this point on an extreme momo stock like this, everything could be stn or everything could be btn. TSLA about to take out this little range here 882, I just shorted another 800shares gonna use a pretty tight stop on it, either it can break down or it can’t.
  • SPCE I did trade it on the long side earlier in the day, I locked in some into this move and got stopped b/e on the rest, I just didn’t see this coming I would never have thought it would go down to sub31 intraday but all happened at the same time as the market dipped just a big dip out of nowhere. Now gapping down, SSR on so kinda hard to trade. SPCE in no mans land rn, middle of a range. SPCE short some. Okay so SPCE found some support, actually on the 60min did put in another hl, we’ll see late day I’m gonna let it bounce here, use a wide stop, and if it starts putting in lower highs and we get a range break to the downside, I’ll add more. SPCE for a potential breakdown below this 33.20s later, building a range here.
  • ACMR looks good, the entry was 10/2/2020 unfortunately I got stopped out the day after but that was the entry sub 39.
  • SDGR f*ck I was not paying attention, maybe there will be a secondary entry if it bounces back to like high 51s. Yeah there was an add point like 51 area when it failed vwap and failed to reclaim it, put in another lh.
  • TVIX is one trade I wish I was in from orhs, another one I missed today. If the market pulls back this thing could go up another 50% easily, the entry was orhs which also happens to be the highs from yday.
  • AVLR violated yest lows. If it takes out today’s lows I’m gonna size down a little bit on it, i’ll sell 1/4, and if it closes below today’s lows I’ll sell a half of it.
  • INPX looks interesting on the 60min, if this thing gets more volume, starts breaking out late day I may buy it.
  • I don’t want to get caught in a downturn with a lot of exposure to the upside. I’m selling down to my sleeping point. I mean looking at the weekly chart, there’s really no support until like 9100 on the nasdaq, could very easily undercut the rising 50day.
  • It’s interesting to see which stocks hold up the best, that’s really what I’m interested in. Maybe this will just be a shallow pull back, like a week or so pullback and sideways, or maybe we get something more serious, like back in May last year. But the interesting thing is to see what stocks are holding.
  • Buy the dip? I don’t buy dips. And I especially wouldn’t want to btd if it tanked on earnings, that’s a big no no. Buying the dip is not really my thing, I can’t figure out how to btd, except in some certain scenarios, like when a big momo stocks pulls back to a major support area like an MA or something.
  • I’m a simple guy. I set these red trend lines, and if it breaks the trendline, I buy, I set a stop, and if it breaks below, I sell. I really don’t know anything about anything.
  • VXRT volume had dried up I was long 200kshares of this thing a few weeks ago, if it can break out on volume I’ll be back 100kshares, could easily double.
  • The biggest lesson I’ve learned over the years: less news, less opinions, more price action. Pay attention to all these small details, just get a feel for the market, get a feel for the stocks, this is why I never really take a day off, I haven’t taken a day off since 2013. Doesn’t mean I have to trade everyday, but I really think it’s important to be there, and just follow the action, it doesn’t mean I’m constantly looking at the screens, but I’ll check in every hour or so, so about 10 mins; look at my positions, my wl, my scans, bc In trading it’s not like a regular job, your income isn’t constant, one week could make your whole year, and if you’re on vacation that week, well.. I hope you enjoyed your vacation. I’ve tried to not look the markets, but I just can’t, I’m too obsessed, some people can, you just have to find something that works for you. It doesn’t really matter how you do it, there’s like a million ways to make money in the markets, but this is what works for me.
  • ETCG doing well. This is the ETHUSD chart looks good just flagging here nice little bullflag, I can’t believe this thing 1400 to 82 in a year that is one hell of a pullback. BTCUSD looks about the same, I missed this GBTC on this 10.40 weekly break but if it can flag nicely next week maybe another potential buying opp.
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