• Cruise and airlines gapping up again, unfortunately stopped out of NCLH yesterday, little bit of a shakeout now it’s gapping higher.
• Not gonna do much today, at this phase in the markets it’s just about letting things work, there’s no need to put new things in the portfolio. There are some very intriguing short setups developing, not today but maybe tomos and next week if things keep going straight up.
• TQQQ starter short, incase we get a reversal, 13kshares willing to add more. Added more, bad timing now it’s bouncing. Stopped out all fatfinger, meant to size down half.
• VBIV bought 100kshares orhs. Had some interesting analyst comments, it’s getting huge volume, already twice the avg volume. Almost 3x avg daily vol [10:49am] this is huge volume. RayJay basically said VBIV vax could be superior to MRNA, PFE and AZN vax, that’s a pretty big deal, this is the hottest sector out there, these are the kinds of stocks that can make big moves. This volume is no joke, at this rate it’s gonna trade over 100M shares today, by far the biggest vol day, that is significant guys, that is very significant. I may look to add more if I see a good intraday setup. If it can go sideways for another 30/60mins then breakout to new highs will add another 100kshares, unbelievable volume. Added a bit more [60min orhs], with this type of volume this thing could potentially double from here, risking 30c on adds, to potentially make $5/6, I think the r/r is good.
• BILI right at 50day and 20day, let’s see if this thing can bounce or if it’s gonna go lower. Gonna use b/e as my stop, it’s right at the 50day, if buyers don’t come in at the 50day, you gotta run. So far bouncing off the 50/20day beautifully.
• I don’t think there are any good technicians, I think they’re pulling targets out of their ass, and sometimes they’re lucky. Analysts are just price followers, the market drops they revise their price targets lower, the market rises, they rise them higher, you see it all the time with stocks and index price targets, they’re just price followers but they’re lagging. Our job as traders is pretty much to do the same thing but more in real time and profit from the actual moves. But you will never get an analyst to admit they’re just trend followers, they’re like ‘oh but our spreadsheets, our dfa..’. The thing is no one knows anything, the market can do anything at any given time, you can have all these fancy price targets they don’t matter, you gotta look at actions in real time, put your opinions aside and just trade with the price action. Nothing like price to change sentiment, price drives the sentiment, price drives the news.
• TTD stopped out from yesterday, that’s the problem with buying breakouts when the market is extended, you get failures, a lot of breakout failures.
• SHLL not much interest in short, it’s losing the volume, I wanted a parabolic but didn’t get it, now it’s just getting thinner and thinner every day.
• TSLA is gonna have an enormous pullback eventually, but you gotta wait for it, there’s no reason to pick tops, there’s huge downside to this thing once it finally cracks. But it could go to 2500/3000 before it pulls back, we don’t know, I’m just moving stop higher and when I see this starting to act bad I’ll sell my long and maybe consider starting to go short. I have no desire to pick a top on this, just let it run its course. It’s not a true parabolic, and it’s above all its MAs, so I just don’t see an entry. Top ticking is so hard, it’s better to short lower with confirmation than try to pick the top.
• OSTK, could pullback to the 50day, this thing has easily another 35% downside. I wanted this thing to hold above the 20day, over this 100 range for a few more days, give a tight setup to add, but apparently it wants to go straight down for now. Let’s see how it acts over the 20day, if it loses the 20day next target is the 50day, this thing has just a lot of air. Up almost 5000% since march lows, that’s pretty significant, it hasn’t been below the 20day, it bounced off it twice down here and since then hasn’t even been close to the 20day, it loses that 20day things are gonna get interesting.
• Something I noticed yesterday and today, the markets were going up, and VXX/UVXY going up at the same time, so it shows the market getting a little bit nervous about this rise. Usually it’s not great to see the markets and VXX rise at the same time, not that it really means anything all that matters is the price action in the markets, if they go higher they go higher.
• Would I have bought AMC? No this thing wouldn’t have been on my scans, but idk what the news oh they’re reopening a bunch of locations, look this thing it can, may I would have traded it many years ago, it was flagging and now it’s kinda breakout out of a nice looking flag with some news, it’s a good setup, but you had to buy it early on the day.
• Ideal consolidation, it depends, usually a couple of weeks to a couple on months, those are the sweet spot, it depends. JD was a couple of months consolidation, while AMD that was only a couple of weeks consolidation.
• I’ll go through the short setups as they come, there are pretty much two of them. I look for mainly, these really really over extended stocks. So what I look for are true parabolics, or some kind of backside. Eg OSTK, this thing has been straight up 5000% without any major pullbacks, what I was looking for was some kind of weakness. That’s what we got, we got a series of lhs, you can see it on the 60min too, this thing built lhs for four days, then this 10/20ema on the 60min chart, when these things go from acting as support to acting as resistance, and when they start sloping down, that marks a momo shift. So I shorted this thing here high 117s when it broke below this little range here after it built hls, bc it started showing some weakness.

Misc:

• I’m gonna make a discord, I’m gonna make it rn.
• My favourites, these are just stocks I’m going to put in my evernote.
• I was in an Estonian newspaper, gonna be a lot of Estonians in the chat today.
• Oh boy this guy just followed me on Twitter, chat room moderator specialising in astrology signals.