Felt like last week things really started to pick up on my A+ style of trades. Lots of volume, lots of liquidity, lots of range can’t ask for much more!
Prior two weeks I feel like I had a good read on things but you end up exiting 1/3 or 1/2 and should have just covered it all as it goes back to entry. There was a lot of minimization to say the least. Last week – things acted as they should.
Giveaway Winners
As always – we love giving away free stuff!
This week is a box of Icon Meals and a few t-shirts!
- Icon Meals – Dan Spaur (US Only)
- T-Shirt – S Keswani
- T-Shirt – Scott Fisher
Video Topics
- Overall Sentiment – Pre Market vs. Full Bias
- Don’t Force A Trade Bias SBFM (Missed Entry)
- Once Everyone Pays – Don’t Forget Them! SST (Full Day Unwind)
- Liquidation Plays Are Back IMTE BWV
- Screen Time = Subliminal Entries/Exits
- Why Price Alerts Matter SGLY!
- Key Levels MNTS MDVL Examples
Video Scan and Game Plan
Stocks to Watch
TWTR every day has been a great daily trader both to the upside and then reverse back down. Got a nice trade off each day except Friday — but it’s not often you get this sorta action back to back to back to back days. Note the volume is fading off. This is when you want to be extra cautious with over sizing and be aware of the side of the trend you’re on. Focus on 945-10AM + trend join IMO. Each morning I’ve looked for a reactive trade off open and then join the trend after that. More on the broadcast Monday — but so far great vehicle.
MDVL biggy on Friday – clean lines clean levels – to a tee. I’ll go over those a bit on the video but $2.20-2.35 and $2.50s being the key levels relating back to the tweet by Lance we went over last weekend (another example how timely ideas can be used and applied for the week ahead). I had some massive size on the short given the opportunity and volume but minimized because I was taking off for the day since it was a good week so covered half before I left and then covered throughout the day on the rest. Had a feeling it was going to flush on break out buyers as you saw I wrote in room – figured 30-60 minutes later but ended up being about a minute later 🙂 and didn’t disappoint. Either way – held some short but HOPEFULLY we get $2-2.20 push again and gap fill back down. We’ll see but likely gap down.
PHIO another big opportunity straight up all day I think just an intraday squeeze and punish AHs on the stubborn before bringing it back. Thinking gap down but REALLY hopeful of $2.20-2.30 + open maybe one shove but IMO very long crowded and shorts provided the second leg of the day Friday ie: they are out in size. Looking to trade all exhaustion moves for failed follow through.
Failed Follow Through:
MULN killer trader last week – nice swing short from $3-3.20s idea — ended up covering Friday as planned from Thursday night scan thinking they’d have a rebuttal at some point. I should probably say “rebuttal” but gave an opportunity to re short on Friday and move on. I am hopeful for some gap on Monday as it usually starts the weeks off well and then looking to fade any good strength.
ATER I have under “failed follow through” because that’s what I am prepared for if it pushes and fails but I am OPEN to adapting if the trend shifts and decides to firm up and go for the $5 shove again. We’ll see. This market is all about being able to adjust on the fly as things prove otherwise. You stay right too long you end up wrong, you stay wrong you end up really wrong. Focus on the trend don’t fight it.
BFRI another clean level reject on Friday – ideally morning shove and more fails Monday. May be a nice quiet fader idea.
SST bigggggggggy! Had a few nibbles on the name waiting for the EDGE to set up and as you saw – got short after open and scaled into that winner. Very happy with the trade. Ideally $2-3 morning shove and then come back flat.
BRCC just stalking in case we get a set up like SGLY — price alerts and wait. Don’t find the top !!
SGLY higher better ideally $1-2 push on air then fade back. Wild one from failed follow through set up at $18.50!
IMTE nice short $22-20s liquidation play – all big pops I see as opportunity until we see the volume pick up.
BWV nice second day as well – great alerts in room. Higher better and fades.
Continuation:
TKAT nice swing idea – been trading around a core from last Sunday’s idea about the sector heating up – I’ve sold rips twice and bought dips twice around the first core trade we talked about. Like the way it keeps coming back and cleaning up the sellers. Easy to over stay on things when they fail – so just make a plan and stick to it if trading it.
LYRA watching dips if firms up vs $5 – no position yet.
PLAG old runner – pushed up in AM and then looks like dip was soaked going to watch if this stays firm w/ buyer in tape $1.05 is the key trigger.
MNTS same thoughts in room $3.80s (mental) as a guide on risk over/under thinking it could have a big picture move. That said – it rejected $4.50 after the dip scoops on Friday so … can’t ASSUME it will go but needs to set up for sure after that reject.
Staying Familiar:
$BRCC 29:49. I got my eyes on the 07/15/2022 30C. Lot of action there late this week. When they start cashing in, I’m looking short.