• BB is super strong, I don’t think these things are done yet, I think they’re sucking in excited shorts premarket, both faded 30% pm, I’m not convinced they’re done yet. BB I had also was a perfect breakout yesterday 13.30s.
• BB holding up super well. All out for now, funny markets pulling back same day meme stocks are probably topping. Getting some bounces, gonna start slowly building into some of these not gonna go crazy, the range is so big on those you don’t even need to do a lot of size, these things can move 20/30% in 15/20mins. BB actually reclaimed vwap, interesting.
• BB is dying, showed rs near the open now it’s showing rw. And what’s crazy it’s still 28% away from the 10day.
• BB for those of you daytrading this green candle could have been a good buy spot, could very easily bounce back to like $17.
• AMC I kinda screwed up I was gonna add 100kshares high 41s but I missed my add, that trade cost me 3M missed profits. I wish I had been more aggressive but it’s always hard to hold stocks that are already up but I’m learning sometimes the ones that are up the most are gonna make the biggest moves, we’ve seen it over and over again.
• AMC is definitely weaker than BB, I hope they both pop out of the gate, make big moves out of the gate that would make things much easier. Ideal scenario would have been if the gap up had held, then I would have probably sold everything near the open and then started looking for some short entries.
• Okay f*ck AMC I’m out. AMC bouncing perfectly off the 10ema on the 60min. Screwed up didn’t realise ssr was on, didn’t get filled. AMC I just missed a 10M trade. What a picture perfect, gapped down, rallied, found some resistance, lost vwap and then straight down. If AMC keeps selling off, does something crazy like goes down to $30, I’m gonna look for a long setup bc at that point it could easily bounce 50%.
• AMC so far got rejected off the vwap, let’s see if it can take out the previous 5min candle. Looks like it failed at vwap again for now couldn’t reclaim. Okay covering some tiny AMC here, this thing still has 45% to go just to get to the 10day. Don’t underestimate these things, I mean AMC could literally hit $30 today and it would be where it was 2days ago.
• I’m gonna show you, so look at this remember when I said wait for that first red candle, or when the stock loses the previous 5min candle. It bounced got rejected off the declining vwap, you wait for that first red candle or the break of the previous candle, that was in the high 52s you had a set stop. The same thing out of the gate, if I wasn’t long I would have waited for the break of that first 5min candle in the high 55s that’s where I would have shorted if I didn’t come in long.
• AMC too could have been a long here, it’s the same thing on the long side, you wait for the first signs of green, the first green 5min candle or whatever then you buy it and use the lows of that candle as your stop, you don’t have to try anticipate tops and bottoms, just let the stock prove itself.
• AMC could be a re short or an add if it gets to the vwap or even better overshoots and then you look for weakness again and rinse repeat.
• GME short orhs. Covered my non existent GME, don’t care about that.
• The AMC trade from yesterday was a perfect htf break, this is a 60min chart okay had a steady steady clean uptrend, got really tight, then it gapped up, look at the 5min I bought it orhs bc it held up and I had a set risk, I knew this thing could double if it wants to, seen it so many times. But I did f*ck up was the add when it took out the intraday highs, I was gonna add another 100kshares but I missed it and didn’t wanna chase 30c, that cost me 3M in profits, sometimes you gotta chase.
• AMC that one really had a great setup on the weekly, I mean like beautiful, this 12 area. GME I nailed entry wise I was in it 190 I think, unfortunately I sold it here 250s.
• BB was the same was kind of a no brainer, hls, I got stopped out the first time around but then I added here and here and I think when it took out hods. Then I sold on the way up and then I sold some premarket then the rest on orls. These are no brainers, I mean you see the same thing happening enough times you’re like okay I’m seeing it for the 50th time why don’t I capitalise on it.
• I keep seeing these short sellers getting run over by these things bc they’re too early, and it’s amazing like every year you get a bunch of these super moves, there’s no reason to get run over, bc what they keep doing is stuff like this they keep trading day 1/2, but a lot of times stocks do this, even big movers many times they fade on day 1, but the problem is when the big one comes around they get chopped up several days in a row. What I choose to do I ignore these day 1s and many day 2s also, and I focus on the ones that are perfect.
• SLV had a big tank pm, I sized down AGQ. Which is good like especially GLD needed a pullback, be great if we go sideways here a few months let the 50day catch up and all the longer term MAs have a chance to turn higher, little big more of a chart on the weekly and then resume the uptrend, bc on the monthly looks amazing. SLV too they look amazing, but a few weeks/months of sideways would be nice.
• Once you learn how to trade you’re gonna get to that million really quickly, once you unlearn all the bs you have learned, once you get that stupid sh*t out of your head and actually focus on what’s going on in front of you, you’re gonna get to that million so f*cking fast, and then you’re gonna get to 2M then 5M then 10M etc. Trading is not really about learning, it’s actually more about unlearning all these stupid things you’ve learned in your life it really is, releasing stupidity.
• Trading is literally actually putting your balls on the line, that’s what trading is and you need to learn from the traders who are actually putting their balls on the line, that’s the only way you learn. You always want to reach the next level, you always want to learn from people that are better than you, that are on a higher level than you in mastery, that’s how you get better. I see so many traders I used to follow still trading 500shares intraday, they settled for mediocrity, but that’s not what I want, I wanna get better, I always want to improve, improvement and getting better is very satisfying and it’s fun. You all want to get to the day you can unfollow me, like this guy has nothing to teach me anymore, that’s the level you wanna get to.
• I follow some value investors like people who study mbas and finance degrees in one of my twitter accounts, it’s hysterically funny to see these guys constantly so confused they can’t make money for sh*t, they’re so useless bc they’re learned so many useless things and instead of thinking you know what maybe I’m useless and stupid for not making any money in this market, instead of thinking all of these other people chasing these stocks are useless, all of these software stocks that were high multiples going up 5-7years in a row. The biggest biggest advantage you can have in financial markets, no matter if you are a trader or investor, you gotta keep an open mind and go to where the money is going. And being flexible.
• That’s what I love about Druckenmiller, pretty much every interview I’ve seen about him he talks about being able to change his mind when the facts change, that’s the philosophy that made him 30% avg over 30 years, that’s why he’s one of the greats.
• Momo is the same always bc it’s human nature, momo is human nature in a nut shell, we’re herd animals and we go crazy in crowds.
• Algo trading is the best thing ever, it created so much liquidity, it’s never been easier for retail traders like us to succeed, never been so cheap to trade, never had such good tools, never been this much liquidity in the markets, algos are the best thing to ever happen to the markets. Oh did I just break the narrative that the hft and algos are bad for the markets, the loser mentality that get’s spread around? I’m sorry guys. It’s all about getting away from the loser mentalities that society spreads around, it’s all bs.
• This is why I always try, even when there is something really silly like AMC being pushed my social media, when I read the order flow, you gotta trade it the way the money is going, and yesterday the money was going in the stock there was no doubt about it. I could have bitched and moaned like all these smart MBAs, or you can just get in on the joke, and make money. It can be really hard to do sometimes but you gotta force your brain to do these things you always found hard to do, that’s the only way to get to a higher level. This is why I got into crypto also, I didn’t really believe in the things but I had to be there, bc if it’s the next big thing I need to be there, I don’t wanna be another trader who was once successful then lost his edge, you gotta be there when there is change and new people coming into the markets, bc if you still trade the old people way well guess what your edge is gone.

Misc:

• Kenny boy is probably watching this stream from his citadel castle, let’s google citadel headquarters. From my deep fundamental analysis I would say it’s an impenetrable castle, I didn’t find any weak spots.
• Google kinda f*cked it up, if you go to Google Earth, look at this, it’s round. Now go to Google maps, it’s flat. You can’t trust anything.
• There’s this guy all he does all day long is tweet trading quotes, I’m not even sure he trades. This is just a bunch of mental masterbation, just a bunch of useless pos things.

#shorting #masterclass #rant