74 [Covid / Corona stocks going nuts! I’m long a bunch! Feb 26, 2020]

  • APT yday had an incredible run. Pissed I got stopped out of loads at the open, but so glad I bought back a bunch when it took out orhs, Incredible move higher just gonna trail my stops now. Definitely trailing stops more aggressively on APT, on these kinda momo stocks, once it’s below the 20 day, the stock could already be down 50% from the highs. I’m pretty much using these 60min EMAs. Remember this thing has more than doubled in the past four sessions. Why would I be afraid of holding APT type stocks overnight? What are you afraid of? You should never be afraid when you are trading ever, that means you are in too much size. This is a profitable company, they could do an offering yeah, but they have cash, they’re profitable, they even have a buyback in place, there’s really no reason for this thing to go down 30% overnight. It’s not one of these stocks that will announce a toxic dilution overnight. Is this a pump stock? Yes, but there’s a huge difference between pump stocks.
  • TVIX I also added mid/late day when it started taking out intraday highs, added twice on it, sold most before close and tightened stops. Indices gapping up but I think more flush lower, I think there’s a good chance we start failing mid or late day. That’s why I’m not selling all of my TVIX yet, I wanna see how the index acts late day, but I will size down if it loses this 70s, I already sized down a little bit premarket. I wanna protect my profits, this is a big trade so far. I think there’s more downside here, these kinda down moves usually aren’t resolved in a few days, usually takes a few weeks/months. I have less than half left on TVIX, but I do think the market goes lower I do not trust this bounce at all.
  • SPCE shorted some small pm and will add more once it starts breaking below this mid/low 31s. SPCE right on the rising 10day, stopped out of starter bouncing really well. Can we finally get a fade on SPCE, there’s really no support until like 25 on SPCE, on the daily it’s right on the 10day and on the hourly 65ema. Hopefully it can bounce a little and go sideways then breakdown later, I have an order set. Okay let’s see if SPCE can fail on vwap, I’m gonna start adding in on this if it starts failing vwap.
  • TSLA right at the rising 20day, it could very easily have a big bounce but if it can’t hold here that would be interesting, rn it’s gonna bounce. TSLA I have some orders orls, if it breaks this rising 20 day could be some fireworks. TSLA is weak at least for now, look how much air it has, really has no support until low 600s. TSLA shaping up again, fighting around the 20day for now, thinking about sizing down if it takes out orhs don’t wanna relive what I went through back here. TSLA actually from pm lows has been building hls, yeah I’m gonna size down. Thing is I really want big big size when it finally breaks down. TSLA testing this downtrend of lhs and also it’s vwap lets see if it can fail here, I’m gonna add back what I covered if it starts failing at vwap, goes below and stays there.
  • NVAX bought some, didn’t go yday, maybe it can go today. NVAX had a pr that’s why it’s moving. NVAX up 30%, only have 10k shares, had 25k shares yesterday but stopped out, I’ll sell some more. Man timing is so important in trading, they couldn’t do the PR yesterday. Holy sh*t I need to sell more, it’s going straight up. I can’t complain I have decent size in these, it’s just always a little bit frustrating when your timing is one day off. Sold 1/3 so far, will move stop up to b/e. This is how a sector trades, you have some stocks pulling back then the others are taking leadership, then those stocks pull back and the previous ones take leadership etc, this is a classic sector trade.
  • The key is to get information curated. There’s so much info out there. A key is really having great twitter follows, you need to follow great people who do research and share it. Bc I can’t research thousands of stocks on my own. I spent years building my twitter followings.
  • This is a great time to find the strongest stocks, when the Market is going down, the stocks that are not effected by it, bc if you have a market pullback, and the market stops going down, guess what these stocks will do, these stocks will fly.
  • I’m like 90% certain we go lower, so I don’t wanna buy any breakouts here. Bounce for a few days then pull the rug, I’ve seen it so many times before. I think this bounce will not last, they’re luring people back in with this bounce, but I don’t think this is it. In my experience we usually have two legs lower, when the market starts correcting like this. Every time it’s pulled back this hard from the highs, there’s always been a retest.
  • CCL I’m not a value investor, I prefer growth stocks, it’s such an effort for a stock like this to double or triple or more. I never buy stocks bc they’re cheap, some of the names I’ve owed over the years have been super expensive, but they still can go 100s of %, in fact the best winning stocks are always expensive.

Misc:

  • Did my cat just flush the toilet wtf? Yeah he flushed the toilet.
  • Let’s look at wsb, what these crazy people are trading.
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