Last week ended up pretty insane due to the range despite being off desk 50% of the day playing Mr. Dad while my wife recovered a bit who got COVID a lot worse than me. I had decreased my size quite a bit Monday-Thursday since I legitimately had the kids all day but given the bell to bell moves, I was really able to passively monitor things while going back and forth making sure my son was only on the table once, climbed up his high chair once and hadn't moved the chair and found his way outside. Just kidding, I'm not that much of a deadbeat.
The silver lining of this entire thing was 1.) mad respect for my wife cuz holy shit it's a ton of work and 2.) I have such a routine and although I see my kids a bit in the morning (most of my time is spent 4PM+ and obviously some through the day) I realized that I actually have a lot of quality time pre-market that I don't need to be at the desk. Get there, get the borrows you need, get a feel for what's going on sure there may be an A+ set up -- that's different -- but most times the way the market is right now forget it 9AM-4PM is more than enough. So, sometimes a break in routine to reevaluate is good.
But, I made it. That's what counts. Thanks all for the well wishes - fortunately I had it super mild and seems like the family is all A+ which was the bullet I was looking to dodge.
So, that said -- LET'S GET ROLLIN'
- Chris Mingacci
- Stu Lile
- Always Looking Left is working SO well I will go over that before scan once I start recording my screen
- Traders Market - if difficulty review
Glad your feeling better. It could be years, or it could be next week, but do you have a plan in place if the markets starts to crash. Whats gona be your goto stocks?
— Mark Tennant (@SnL_Sniper) December 18, 2021
Video Scan and Game Plan
Stocks to Watch
SPRB killer way to end the day on Friday on that short entry $5.60s -- hopefully this thing doesn't gap down too much but should offer a nice unwind. Higher the better I think they blew all the folks trying to find the top out into the close and then walked but we'll see come Monday. Patience was the winner there - great job and that was it for me Friday, finished my day on that trade. Ideally some sorta re-test of $5 + if we're fortunate but -- unlikely.
AMC killer opportunity on Friday great entries in the room with nice flushes following the entries shortly there after each time then the $30 flush for the instant .50. The key area for me is going to be $29.50s - cautious getting too aggressive too soon think big picture here vs. trying to force a trade -- wait for EDGE. There's going to be a lot of range and rip one way flush the other repeat. For me, wait -- wait for a SET UP if you're just trying to scalp it, not what I want to do on a Monday.
PFE nice trader all week - it's holding levels extremely well. Focus on looking left and don't fight this thing. When it slows the pace to the downside or starts to hold higher lows if you're short - respect it. Same thing if you're long and failed follow through -- forget it, wait for the next set up. No real bias but just happy it gave us the big trade we were looking for on Friday. Goal all week was not to size up or pre exhaust. Had some great opps Wednesday- Thurs if you traded it perfect maybe a few but no harm no foul just a grinder -- Friday was the one we were looking and scaled hard as noted in room with the add add add. Should have another $2 trade in it 945-10AM +
F watching with TSLA LCID RVIN etc get a feel for the market vibe - RIVN keeps unwinding may have pressure F should have more daily trades here but again like the rest -- look we're +/- 300-500-700 points day what's the point get a vibe for what's trading well, good liquidity show up each morning and see where the market is at. All I know is these main watches is likely where the majority of my capital will be used in the week ahead while I find new trades throughout the week.
Failed Follow Through:
GNFT just toyed with shorts all day -- sensed in after all those swipes then it finally faded but once it starts to firm like like I said in the room "they're still toying with it" and few minutes later the swipe came in. If you feel unsure in this market there's plenty of other names to trade.
ADGI absolute monster just need to see some gaps here and more opps -- I won't try to kill it like Friday but will be looking to join trend through day but be cautious of the reversal trade. I think they caught shorts blew 'em out and in the end there's going to be a lot more longer term bags than anything else.
DNMR thinking morning strength will be met w/ back side unwind.
PTPI reminds me a lot of NNDM if you recall back when it came off this level - almost same chart set up. It's been a nice profit center each week it has a massive gap pre market on Monday's but underlying buyer in tape on daily. Same thoughts prob good to lock into HUGE moves like we've had maybe 3-4 times now? and then when no one wants it prob good to re position until it stops working. Either way been great but impressive staying power to say the least.
ABUS trending well again - still there letting that core work
ACET so far so good - I never got there though but we talked about it last few Sunday scans and working well and you can see the wicks. Still interest me vs $14.
FLL trigger at $12-12.2x's
EFRT watch all dips - trigger is $8
GRTS nice daily watch dips vs $13