8 [NO MORE $4200 Sushi!! Oct 10, 2019]

  • BBBY the chart coming into this is the perfect high tight looking flag from the lows, great looking flag, question is now that it’s gapped up does it have more downside idk. Too bad it’s gapping up on this news, would have been better if it had an organic breakout of this range and then gone to like 12 on its own. BBBY very strong, took out orhs. If this had been an earnings gapper I would have been all over this thing, but new ceo, I don’t think there’s edge in that trade idk.
  • NAT unfortunately gapping down, if this thing had opened kinda strong and maybe gone to low/mid 4s I would have sized in, bI would have done 100kshares, but now it’s gapping down the setup is ruined. I was so happy when I saw it squeeze late day yday, I was really excited for this gap today, could have been a $50/70k trade today if it had gone low/mid4s then reversed, but now it could go up could go down, there’s no edge. NAT kinda chopping around, took out orls then orhs, this is exactly why I didn’t want to chase it down here. In a few hours if it starts setting up like lhs and has an intraday break, then I may trade it for like a breakdown if I can find a tight setup to risk maybe 10c tops, but not really excited about it.
  • MIK breakout, tried to get 20kshares got filled on 4kshares now I have to chase higher.
  • RLGY got back in some, now it’s def breaking out of this range, been building hls all the way look at the 60min, def something going on.
  • FRAN is super thin, but this is the kinda stock could go up 50% in a few days, looks great, I think the entry was a bit lower but looks great could easily go to $20 or something. Another beaten down retail stock, in 2/3years was down like 98%, now it’s squeezing on air just bc it got so cheap, up 200% in a month, microcap stock 45M mcap.
  • YINN orhs breakout was crazy, question is if it’s gonna gap down tomos but yeah this is strong price action.
  • AMRN this was a great trade I had [26/9/2018] biotech gapper, same playbook as always orhs, thing more than doubled in a month, big trade and extremely liquid, went from a few M shares per day to 363Mshares in one day, just crazy. One trade like that pays for a hundred small losers.
  • Going from mainly daytrading to mainly swingtrading took a few years, and going from mainly short term swingtrading to mainly longer term swingtrading and position trading took another few years, you have to give it time. You need to study, you need to put hundreds of hours into studying how stocks move, build a pattern database in your head, it’s gonna take years, but it’s gonna be worth it in the end, it’s going to be worth it.
  • Gonna show you guys my Evernote, how much work I have put into building a pattern database, I have tens of thousands of charts, diff types of earnings gappers, look at the amount, this is something you have to do if you want to make many millions in the markets, this is something I’ve been working on for 6/7years. Diff types of time frames, news, earnings numbers, theme stocks you get a bunch of these every year just gotta keep your eyes open. Summer2007 bunch of oil stocks went crazy up 1000% in a few months. I recommend getting either Evernote, Onenote etc.
  • TC2000 there are no alternatives that are as easy to use, scans, annotated charts, watchlists, not perfect but overall. Esignal I use for intraday charts, also if you want to go back look at past charts you can go back to 1min charts from the 90s, that’s pretty cool. If you see my Evernote I have intraday 30/60min charts for all stocks, those are from esignal, I went back and looked at the intraday charts, it’s all about grinding it out, putting it in your head, repetition, repetition, repetition.
  • My portfolio drawdowns have definitely been smaller since shorting momo stocks was my main money maker, I’m more diversified now I don’t take as much risk, I once had a 50% drawdown, I’ve had plenty of 20% intraday drawdowns in my accounts, this is something not happening anymore, if I have a drawdown it takes several weeks or months to occur, I’m not drawing down 10% in a day anymore in many many years, 10% drawdowns I have multiple in a year but they usually take several weeks.
  • I don’t keep track of avg holding period, but if a stock works I can hold it for several Qs, at least partials, but mostly maybe a few weeks would be avg holding periods, but a lot of stocks I buy and get stopped out the same day or next day or within a few days. But if you look at my big winners, those were multi month holds.
  • I can have everything from 5-25% positions depending on liquidity and my conviction. In a good market I can be up like 15/20 positions no problem, or also all cash if bad, but usually I have 5-10.
  • Macro is irrelevant, if the macro is good and the charts are sh*t doesn’t matter you’re not gonna make any money, and if the macro is sh*t but the charts are good who cares if the macro is sh*t you’re gonna make money. Fundamentals unless you’re running 100M you prob shouldn’t care about macro at all.
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