332 [things setting up nicely into earnigns season! Apr 26, 2021]

  • TIGR, I got stopped out of last week, going straight up now, another classic.
  • CVNA looks incredibly nice on the weekly, on the daily it’s just in like a choppy range. I was thinking about it as a potential pocket pivot on Friday, but I was a little bit too choppy, been in this range of death the past 5months, I think it needs to actually break out of this range for me to consider it.
  • TMST had a good setup Friday, now following through, just like X.
  • FCX I was thinking about buying Friday but I wasn’t sure, I remember I bought it here [14/4/2021] but got stopped out, then it pulled back to the rising 50day and the 20day, now it’s going again. That’s what I mean that sometimes when you get stopped out and the stock puts in another hl, the setup is even stronger than it was.
  • AMD grinding higher, looks interesting on the weekly, found support on the rising 50weekly, building hls, and it’s been in a range for 7/8months.
  • STNE looks pretty good, surfing the 200day nicely and now coming out of this range, very decent setup.
  • RYAM it’s all over the place, kinda choppy. I prefer clean setups in stocks, clean ranges.
  • Dan Zanger trades a certain type of setups, very simple setups, but you have to understand he doesn’t trade random stocks, to me something like SWKS looks very random, doesn’t look special at all. That’s the difference, anyone can learn some easy chart patterns but what you really have to learn are stocks that don’t look random, there’s so much randomness in the market. SWKS look at it every time it’s all over the place, and look at the recent trading history, it doesn’t have clean breakouts, if it goes up a little it pulls back sharp decline, then kinda grinds higher again, it’s a very random stock. Compared to something like AMAT, look how clean it is, broke out here look at the clean move it made, surfs the 10/20day, or LRCX, versus this SWKS is all over the place. Goes up for a few days, slams back down, no clean trends, very random stock. You need to be able to identify randomness versus something where you have an edge in a split of a second, anyone can draw these lines but it’s not that easy guys, it’s not that easy, it needs to be something special.
  • ICHR it’s kinda flagging but not anything special, maybe a 3 star, I’m really looking for the special ones rn, you gotta be so selective in this market, if you’re gonna buy something you gotta make sure it’s something special, and even then you’ll have a pretty bad winrate.
  • Kinda excited for this earnings season, been a lot of stocks going sideways for 4/6/8months, like the stocks that made big moves 2019/2020. That’s where you get the big moves, when stocks break out of these bases, that’s where you get the big moves.
  • ALB broke out Friday I got like 2/3 size then it went up. And SQM, hot sector, surfing the 100day and look how tight it got, now finally breaking out, I have a small position in ib account.
  • SONO looks like a good setup, surfing the 50day, been surfing the 20day and now the 50day, not a random stock, very controlled, looks pretty decent.

Misc:

  • Jack Schwager followed me on twitter the other day, pretty cool right, maybe I’ll be in the next book in like ten years.
Scroll to Top