Free Scan: Stocks To Watch For Tuesday February 21, 2023

by | Feb 20, 2023

The wild weeks continue! Been trying to stay laser focused and dialed in while remaining EXTREMELY aware of liquidity changes. Right now you can get away with a lot. But as soon as that liquidity slows if you’re outsized, that’s where the outlier risk comes from. Stay nimble no matter how great it is right now.

After taking a brief pause for a day or two, we had one heck of a rally followed by a few sell-offs that got soaked and rebounded pretty well. There is NO shortage of plays. The key right now is just focusing on what you do best and keep doing it over and over until it stops working. This is the type of market where a lot of level-ups come.

Does that mean if you’re not making money right now you’re doing it wrong? No, but it may be time to re-evaluate the strategy you’re using. For me, this type of endless volatility is where I perform best. A few months ago to close out the year as we discussed I’d rather trade smaller, press fewer buttons and just grind vs. going backwards.

So, if you’re going backwards right now – press pause. Stop pushing to ‘make up’ for missed opportunities. This is either your wheel house or not, if it’s not and you’re pushing hard anyway you’ll end up self destructing.

So, as you guys know when we do a deal – we try to make it so no one can really say no. Rare but when they come, they’re stacked with so much good it’s literally a no-brainer – just like our Black Friday and Cyber Monday deals once a year and they’re too good to pass up.

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Video Scan and Game Plan

Stocks to Watch

DKNG real nice action on Friday – started in relatively early just to get a focus on it and once we had the $20.70 over/under level confirm started to scale heavily for the flush. Great opportunity and pretty big volume so I wouldn’t sit there and think this “has” to come in but it should have another great trade 945-10AM + the next few days. If it gaps big I’d watch for fade back flat, if it opens red and rejects r/g I’d look for a fade if it opens relatively flat and grinds after 945-10AM + we could be looking at $22 + short term.

TOST been great last few days off open – reactive trade off open and then will look to join trend 945-10AM+

XP concept was same as TOST – reactive trade off open and 945-10AM + trend join.

ABNB higher better for back side possible gap fill.

Failed Follow Through:

IBIO morning shove for back side – have warrants but easily can shove an offering down. Great example of ‘too’ crowded trade blew out midday giving a great re-short opportunity.

FSLY may be under failed follow through but doesn’t mean I am short biased – ONLY if we get a failed follow through set up. More it consolidates could just be setting up for next leg up. But, for now – as long as pops fail I’ll fade it until higher lows firm up.

TAL morning shove for unwind watch with GOTU

Continuation:

DCFC feels like they’ve been prepping this move for a long time. Looking left two other instances where it ramps up major vol but in the end ends up soaking. This is when the tape changes and trades way thinner than it has in past. That said watch all dips if this move starts to get soaked and has the wicks we talk about regularly on the daily we could have a decent longer term move.

TCBP so far good from the swing idea few weeks ago for those who watch the video regularly this is not a new name idea was given many times last few weeks just as a reminder … $3 move just about catalyst on Tuesday.

AMAM watch dips – decent liquidity trap until it blows out after that I’d start to look for back side.

SERA this has been the new way – marinate the first day squeeze out T+2 — this is following liquidity trap action note how the vol went 60 to 20 to not much.

INZY lots of shorts likely present watch dips if $3 base for squeeze $3.50 + if it can’t hold green Monday possible fade back to $2.50s.

Staying Familiar:

AI SOUN BBAI

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