• SPYs and QQQs up about 10% in two sessions, trading like a small cap. Not looking to chase anything on the long side here, may be a few more days of bounce, but approaching some serious resistance areas. Approaching declining 50 day. Big bounce from the lows, about 25% so far.
• TQQQ bought some yesterday midday, gapping up, up 20% or so.
• TDOC watching for a potential short, this has been one of the strongest stocks over the past few months. Today with the market gap up, it’s gapping down. Yesterday it was a gap down with the market gap up, bounced off the 20day. Gonna stalk this, if it can’t reclaim the 20day, if it starts fading mid/late day will prob swing short. Short some TDOC orls. First stop going to be the rising 50day I think, another easy $10 downside.
• Strong day of buying today and gap up tomorrow would provide some nice short setups for these 3x etfs. These bear market rallies are the strongest kind of rallies, but I think we have a pullback coming in the next few days potentially.
• W short orls. Has made an incredible move off the lows 260% almost. Add to W on vwap rejection. Building lhs, only time I will add to W is if it takes out this mid/low 75 area. W building hls intraday. Probably gonna stop me out, unless the market tanks. You can clearly see the buying just building hls. Stopped out of adds, failed to take out hod so far now testing vwap. Either reshorting if it takes out 75s or if it starts failing at vwap. Added back a little on vwap fail and moved stop lower. Short some more here, short 14kshares now. I think it could pull back to mid/low 60s over the next few sessions.
• AKER [up 79% today, day 2 of move], I located 50k shares. If I’m gonna short it it needs to squeeze out first, this thing wants 10. Halted up. Better to be a dollar late than 5 dollars too early. Just hadto wait for the downside break of the first red 5 min candle.
• LVGO bought half size, took out hod. Pretty small position, not going to get aggressive on the long side rn, fully prepared to get stopped out of everything tomos on long side, just no conviction in this market. So far just looks like a classic bear market rally.
• I picked up things from a lot of traders, one thing I picked up from Dan was the 60min chart. I think the 60min chart is really magic, I’ve been starting to use it more and more. It’s especially great on large and megacap stocks and 3x etfs things like that, not so much on small caps necessarily.
• If we close weak I’ll probably close out my longs, bc I don’t want them gapping down below my stops. That’s the problem with a volatile market, it’s kinda hard to swing trade. Unless you get it exactly right, sometimes your entry has to be down to the minute. That’s why I’m doing partial sizes, I don’t have any conviction, the market is in a limbo, I just don’t feel it. When I see something good I just know it’s gonna be good, I can do some big sizes. But rn, everything could go either way. I think it’s gonna take a few months, we need things to tighten up.

Misc:

• I have 5 monitors, but I only use 5 when I trade out of the gate, then I go and trade from my laptop the rest of the day. I only need many monitors the first 30-60mins.
• This is the blog, ChartsandStories.com.

#shorting