233 [Getting follow through so far on breakouts! Nov 20, 2020]

  • BILI is straight up, that’s what happens when you combine technicals with fundamentals, and a good market ofc, you get these kinda moves, that’s what good breakouts are supposed to do, they’re supposed to go straight up. These are the best ones when stocks break out of multi month flags on earnings, those are some of most powerful ones. Same thing that happened with JD here when we bought it [14/9/2020] when it broke out of this perfect looking multi month flag on earnings, when it went straight up. FUTU this one too, I bought it just when it started breakout out of this flag.
  • If you learn what stocks make big moves, and you learn the patterns, the language of stocks, you’re gonna just make so much money, and obv you need a good market too. When you get a good market you need to be ready, you need to be there, you can’t be away from the markets ever, bc you never know when the next bull run is gonna start. That’s something Zanger has been talking about a lot, took me many years to realise what it really means. You can’t really ever stop watching the market.
  • TAN is finally breaking out, if I wasn’t in it already I would be buying it here, just breaking out of its flag looks so good.
  • GME, yeah yesterday was a breakout, there’s some activist investor stuff going on there.
  • The vax news we’ve had 3 now, the first time the growth momo stocks got killed, the second time not as much, and the third time they were barely affected, so it’s already in the markets, idc if they come out with 100% efficacy/safety vax, it’s not gonna matter anymore, the surprise is over, they shook everyone out, it was the biggest momo crash in like 20years I saw some statistic.
  • UBER is breaking out, I had it here [16/11/2020], it’s in a very nice htf, should I? Feels like I’m chasing it.. okay I bought some. If it closes really strong I’m gonna keep it and I may sell something that’s not really performing. That’s how you do it in a bullmarket when you have these things that keep grinding higher, you buy breakouts, you sell ones that get over extended and also trailing stops, and you also sell the ones that don’t really perform. Bc you want to have the most efficient use for your money, especially when the market is running and a lot of things are moving higher in a lot of diff sectors, you don’t want to stick in something that’s now performing, you want to be in the ones that are moving, don’t wanna be in dead money.
  • Every single one of you could do this, no rocket science involved, it’s when you try to rocket science trading that’s when bad things happen. Just observe what’s going on, learn some basic chart patterns that have worked for a hundred years, learn some basic risk management and boom, not really much brain power needed to make it in this endeavour. This is what it is trading a bullmarket, you position yourself correctly and then you just wait, the more you do the more you’re gonna sabotage yourself if you’re a swing trader.
  • GBTC, look what it did last time BTC was hot, Nov/Dec 2017 were insane much thanks to GBTC, I longed it and I shorted it, what if GBTC does something like this again.
  • The market gives a sh*t about earnings in the long run, but rn we are in a market environment just like in the late 90s, late 60s and late 20s, where the market didn’t give a sh*t about earnings, there were other things that were more important, like hype and future expectations. That’s gonna change, it’s not gonna last forever, rn it’s party time, but there will be a hangover eventually, and when the crash comes we’re gonna get stopped out and then we’re gonna enjoy the sh*t show, just like during the corona crash, there were no setups for like a month or two. A crash is a good thing if you can avoid it, and if you have sound sell rules, you’re gonna avoid every single crash.

Misc:

  • I don’t think I’ve ever had this much exposure in my life, I’m long 38M worth of stock, pray for me guys.
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