Free Scan: Stocks To Watch For Monday April 12, 2021

by | Apr 11, 2021

Weeks are flyin' by and summer is quickly coming.

We had the lowest volume day in quite some time on Friday. A member had asked me what my thoughts were about it but I hadn't really given it much thought.

I think the simple answer is we're in melt up mode - but most importantly what does that mean for us?

  • Be aware when stepping in front of moves
  • Nothing has squeezed up too much
  • Expect the unexpected
  • Markets are thinner than you think
  • Options are driving the market everything is owned by Indexes & ETFs etc.

Video Topics

  • Recognition of Trends
  • RMO XL CLOV FUBO
  • The "WHY" of a LOSS
  • Confidence & Conviction
  • Looking to get out before you're in
  • Remember to look back - strategy? how far you've come etc.

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Questions Sent In:

Video Scan and Game Plan

Stocks to Watch

FUBO killer opportunity on Friday - shorted the parabolic exhaustion move in the room but you can clearly see all failed follow through momentum using the levels given on Friday worked as well. Right now we are in a very trend obeying market. As long as you play by the rules and respect key levels it's been a fairly rewarding market. With that said I'll be watching $23.50 + exhaustion on Monday or sub $23-22.80s to join failed follow through momentum. We'll find out pretty quick if it was a one and done high volume intraday squeeze like RMO XL CLOV or if it has a secondary opportunity. Should provide a GREAT opportunity off open if a big gap or 945-10AM+

RICE idea was weak open consolidation $13.80-14.40 as accumulation level for $17-18 goal - heck we're over $18s now AHs. Ideal world $20-22 + parabolic squeeze out the over sized shorts and possible fade from there. ZERO reason to step in front with size. This in my eyes will be a very clean trade for the patient. No reason to get the top and be $1-2-3 or even $5 too early - wait for key levels.

TQQQ crazy squeeze mode - my immediate thought is the week out into the weekend and possible gap down Monday and fade some (sometimes we have those major squeeze outs which the only reason it was bullish is because people were bent on the wrong side of the move) if we do have a gap up I'll be looking for either gap and fail or 10-11AM squeeze out for the fade back down. I think patience is key so I don't get pre exhausted on the front side.

AFMD held pretty well and still acting pretty thin when it wants, behaved on this one. Ended up being a solid trade but if you didn't lock in on weakness there is a good chance shorts may have stayed in which if it holds trend is good for the week ahead. If so we could have a nice squeeze out opportunity. I'll be watching if it gaps into $10.50s + for a fail if it holds $10.20s in my eyes shorts are stuck and could build trend. So, those are the key levels for me $10 peak vs $10.20s uses as guide if weak or $10.20s builds as base and heads higher.

Failed Follow Through:

STPK another nice squeeze out day off reversal - this has been working on the SPAC charts lately XL RMO CLOV STPK etc. let them do their thing - don't step in front and watch for failed follow through momentum - $31.50 for me seems real key.

VIAC morning shove is ideal - higher better and still thinking $38-40 as a possible fade spot. We had that one reversal day that everyone felt like it finally bottomed and -- well ... it hasn't.

Continuation:

SRNGU started into a swing trade Friday will use $10 as a guide on risk.

CLOV killer entry sub $8s and adds on Thursday - sold some AHs on Thursday held rest given the average but we'll see if has followed through momentum. Seeing if they hold a higher low and new base - if not, will bail on trade.

VECT wild wild move on Friday from $22-23 and nearly hit $40 before seller sat on it - if it gaps up could easily have a second day if not, I'd assume volume is null and avoid.

Staying Familiar:

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