Hope everyone had a great weekend !!
As usual if you like and share your key takeaway on the YouTube video in the comment section each week I give out free stuff (zero catch) just for participating to random listeners!
This week is Icon Meals - this is who I use every single day to stay consistent with diet. Todd is a listener of Sunday video scans and has helped many within the IU community regain some consistent eating skills. Curious to try? Free shipping with code: IUFREESHIP as well.
As usual I have trouble picking just one so I'll throw in another shirt winner this week as well.
- Brennan Anderson - Icon Meals (if within US if not we'll do something else)
- Julian Bailot - TShirt
This week Tim Grittani has 4 tickets for those interested in attending the sold out Traders4ACause event in Vegas this year:
Proud to be a sponsor for @Traders4ACause again this year! Unfortunately I can't attend, but I do have four tickets to give away! Here's the entry form for anyone interested (and I can't recommend this event enough) https://t.co/4kVsvXecFX
— Tim Grittani (@kroyrunner89) August 19, 2021
So, Friday I took the day off - had the annual Building Dreams For Marines golf tournament BUT we did have the layup set up on GOVX that I wrote my plan out the prior night so when it came into the wheelhouse I put it on and let it work while I was golfing.
For those that watch last night's video scan - you saw the PMCB idea with a goal for T+2 squeeze on Wednesday and sure enough, stock tripled 🙂
SONN gave warning all Thursday that I believed we'd see the next PMCB style raise and to be cautious holding it over night - sure enough nice -50% move after raising capital. Layup trade made for a nice start Friday!
SNOA good unwind - absolutely loving the current market because stocks that normally would just sorta pop and drop are being heavily pushed/pumped on Twitter giving a much cleaner unwind after the big volume exchange comes in and fails to get the secondary squeeze going. Big warnings there - spot on for levels. Great discussion live during the day in Trader's Lounge for those recording.
- CHANGE YOUR MINDSET - What can one small change of focus do for your bottom line?
- Feedback from understanding how you feel pre market.
- China names.
All day faders… how to spot on that will turn into them vs a bounce back in your face… you can put it on in the morning and go golfing all day and cover eod perhaps😁
— Buff (@BufsGeorgia) August 21, 2021
last Sunday scan you said swing short a ticker on the back side can be good for beginners to grow small account. Can you talk more about this? Thanks!
— jiahao long (@longjiahao2) August 22, 2021
Can you go over T+2? I have briefly seen when you discussed on Sunday scans a few weeks ago but was completely shocked to see how it played out this week in $pmcb
— Jim Sirius (@jim_sirius) August 21, 2021
Hope you have a good weekend Nate! I was wondering if you could go a little bit on detail regarding trade management on your big picture ideas, FLGC and NAOV recently come to mind. How you define your risk and the procces of trading this tickers around the core. Thanks!
— Marcelo (@gil_mazon) August 21, 2021
Finding consistency, big loosing days erase weeks of profit. Do you recommend setting max loss risk control in DAS ?
— Trades4Freedom (@FreedomTrades4) August 22, 2021
how to know when to stop out vs giving the trade some room to work
— Sharpie (@__sharpe) August 21, 2021
Video Scan and Game Plan
Stocks to Watch
FLGC I'd love to see some sorta gap up and shove towards $13.50-14s and then watch for failed follow through action. The volume is pretty damn heavy so what normally may be a one and done may hold a bit longer than we think so I'd almost prepare for this the same way I prepared for BTBT - when everyone else forgets about it - don't forget! You saw how well that worked on BTBT.
TQQQ goes on perma watch in this market along with VXX UVXY and a few other market related names until once again range tightens up. Petty impressive staying power so far in this market volatility - once again.
GOVX higher better - kept some short over night as well given the average but would LOVE to see this thing gap up and give it a go for 15-20 minutes before fading off again. Also - always look left (reminder).
PFE killer trade last week in the room - nice timing on sizing in. Going in without bias other than looking to join a 945-10AM + trend join.
Failed Follow Through:
ALF really nice work on Thursday - clean move catalyst turns no catalyst scale into winner and let work. Looking for morning shove and will quietly use Friday highs as guide on risk.
DLPN pretty hard reject on Friday looking at pops for the steady fizzles ub $10 back to $9s short term.
SENS $3.50 break out range if it has some outlier volume. No position no bias but just feels like a trade could be close and I should be watching it.
PXLW watch dips if $4.20s base out and start to head $4.50-5 +
KXIN sticking w/ same game plan - started in when noted and positioning vs $3s mental stop loss level (not hard stop) would scale if it builds over $3.70-3.80s in the short term. As noted that high vol day plays a role in my interest and after that I want to be PROVEN trend is right by upside confirmation vs. just add add add and end up with too many too high.
DATS been trading this one as noted on I think Tuesday or Wednesday just felt like someone was in there soaking dips at their own pace wasn't in at the time but - positioned in based on price action slowly as it interested me Had a great break out trimmed a few in $5s some in $6s probably too soon but all good, will let rest work and see what happens. Good feel in the tape earlier in week.
CLEU always a crap name but has been having a lot of accumulation lately - may have a nice break out over if this continues to hold up. Bought dips earlier in week as noted and also as reminded in room I would NOT chase break out.