I hope everyone enjoyed the long weekend.
Video Topics:
- Feeling Better!
- Phil Interview
- NYC Traders4ACause – I’ll Be There
- AI – Rotate Edge / Cautious Going Back To Well
- IFRX Tape Flipping ($5.50s Trap Twice)
- Outlier Volume + Blocks Being Tossed = AVOID High Conviction !!
- Small Cap No “Conviction” or “Full Size” Anymore
- CP Deal Expires This Week
- Giveaway Winner – Yogin Acharya (T-shirt)
Video Scan and Game Plan
Stocks to Watch
GCTK big squeezer AHs – we went over this in IU I feel like they trapped a sized player $1.70-1.80 AHs and then squeezed them out. I figured they’d walk it back to $1.60-1.80s AHs since it was trading “natural” at that point. Natural meaning likely a player involved AHs had a position ramped it up, worked a trap and started to force out shorts given lower liquidity after hours. Once it came, that was that, they were done and liquidity changed. This can EASILY still trap come Monday HOWEVER I do feel like they walked AHs. So, I’d be going in with a watch pops for failed follow through but I’d be VERY cautious if it’s “too easy” that it may just be a trap for more. Have your guard up.
FOA ideally a morning shove $2-2.20 + then sit back – great volume on Friday. Looking left back to January it had an issue around here but quite a bit more volume this time. If it starts to consolidate $1.80-2 range = voided idea.
AI nice idea on Friday for the fade into close came right into anticipated range. This is one of those that in my eyes you need to be careful with a bias. Be careful going back to it because it was a really great unwinder on prior days. It’s easy to want to just re hit it short etc just be cautious of that secondary shove before the real fade comes back on. Typically things overshoot to the downside then overshoot to the upside before fading back off.
AU Gold name – monitoring for the day we pull back should be a very clean $1-2 fade vs. VWAP and let it go. Doesn’t mean tomorrow or this week but staying very much familiar for the day.
Failed Follow Through:
IFRX crazy squeezer on Thursday set the trap at $5.50
GFAI morning shove is ideal and then likely fader. If AI firms up – don’t force it. Low quality play here not something I want to hyperfocus on – if it sets up then I’d look to scale in if it goes sideways for an hour and 50/50 = avoid.
MSGM nice clear out at close – I’m noticing more and more they do ONE last shove before walking. Gave a nice level on Friday $7.90s flushed, soaked, squeezed out and mentioned I think they were done with it – sure enough they had walked. Morning pop then looking to fade it back to where it came from.
Continuation:
ELOX up $2/share so far on this big picture idea given on Friday. Really nice. Ideally blows off into circuits since it’s thin. I will trim some into any large moves or if trend fails to follow through. Be smart along way if you participated with the idea given.
SECO I bought real small EOD on Friday in case a gapper / follow through. Watching all dips in case if it gaps and just fails – I’ll move on.
Staying Familiar:
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