Amazing feedback last week !!
Absolutely loved all the responses, key takeaways -- might have been one of the most engaging videos yet !!
Surprisingly I haven't participated much in macro level moves lately BTU and PLUG definitely two that I was prepared for but missed -- tech has been a disaster but in small to mid cap land the liquidity has just been all you can really ask for so I'm continuing to do what is working until it stops working. Example VERU CASA AVLR DOGZ and the wild names like CRXT CYN using the same levels/thought process we went over for the past two weeks. Letting the volume come in and show it's hand ie: VLON
Coming to the market isn't about being right or wrong every day it's about when are you right, how do you capitalize on that better? How can you increase size and keep risk in check at the same time? When you are WRONG -- it's about 1. moving on or 2. staying with that initial entry until it stops doing what you thought re: exhausting out.
As you see with me daily my focus is what's working and scaling there. If it is not working -- focusing on WHEN it could begin working is my primary goal and that's done by focusing on what key levels are on the way up for them to exhaust back out on the way down.
Busy week this week! Half day Monday I'll be in Boston with Lance, Gregg and Zach from Traders4ACause midday and grabbing dinner after that! Likely will be leaving around noon.
Zach is going to be peppering us with questions so make sure you submitted your question I posted the link in the last scan!
We just might have a camera or two follow us around for a bit 😉😎
What would you like us to talk about? 🎤 pic.twitter.com/x0h7AGsNhU
— Zach Schellhaas (@zkschell) April 18, 2022
Tuesday I should be around most of the day - We have the BCRF event at night in Boston where Traders4ACause is being honored and presented with Carolyn Lynch Humanitarian Award!
Thursday I'll be out around 10AM ish and likely spend most of afternoon away.
While all things are clicking - trying to check boxes and get a lot done that I usually don't!
- Fireworks Friday: DOGZ
- Traders In Denial: MULN
- How To Manage A Crowded Trade: CRXT
- Algo In Algo Out: AVLR CASA after VERU MNTS
- Non Panic Unwind
- Shopping List Ready
- One & Done: RBLX PLSE CVM
- DHarvey300 - One Month Scanz Subscription
- jb879123 - One Month Investors Underground Subscription
- Jordan G - IU T-Shirt
- Mr. Dumitrescu - IU T-Shirt
- feeko - IU T-Shirt
Video Scan and Game Plan
Stocks to Watch
DOGZ major one on Friday we've been watching each day -- been telling the room every AM to set price alerts. We knew this one's history and it was only a matter of time. We saw it on IMTE we just saw it again on DOGZ to me it's not about just guessing when things are going to cave in - it's about watching the tape and realizing when things have shifted and PROOF. PROOF that it's "different" this time as you saw in the room each time the hidden sellers showed up and stayed heavy I made note of it. I kept some short over from the EOD ramp but -- higher better and looking for it to slowly fade back to $2
FNGD once we bounce this should be in big focus -- even if we gap up tomorrow on market don't take it off radar you just saw what happens on BOIL.
CYN I am hopeful this gaps up but I actually think it gaps down I think everyone was afraid of Friday squeeze and took exposure off fueling this thing up. Another prime example of too many doing the same thing -- I posted on Friday in the lounge the covers from the over night b/c it was not staying heavy where it should. That's where you must RESPECT the price action in this market otherwise you'll likely over stay AND be too exhausted to participate in the actual trade.
Failed Follow Through:
CRXT super crowded trade last week but that was OBVIOUS it was crowded so you had to make adjustments. Adjustments include 1. Don't stepping in front 2. Being OVERLY patient waiting for the tide to shift as you saw even the first flush went back to test highs 3. Thinking about the actual channel and where shorts were getting worked into ($2.35) and where support was holding ($2.10) - assuming those hold until prove otherwise. That one small shift likely was the difference between a good trade or emotional trade for you. Thinking they raise as early as Sunday night now that the Saturday "catalyst" is done.
MITQ nice Friday action both on the long side then flip to short side in the room. Higher better and looking for failed follow through. Unlikely I'd long this unless firmed up Tues/Weds.
MULN higher better and fails as always.
SKYH not sure I'll trade this Monday but wanted to revisit this concept more as a lesson from the long idea on Thursday and what would make be interested for the week ahead again.
MDVL nice flip of bias on this liquidity trap -- $2.20s firmed up last week and then away it went. Still have some long but mostly exited when I reminded/wrote it was probably a smart idea to do so around that core given the set up and what we know about the squeeze (can go over on the video).
BLBX I will not long this trade but setting price alerts every day just as I did on DOGZ
REDU same deal price alerts every day I will not long but hope it continues before ultimate dump.