I have been working on a blog post for some 2023 review and 2024 goals and changes that should be out tomorrow!
Last week, macro main watches for the A+ sizeable trade was MARA with secondary trades of RIOT CLSK to spread the size across multiple names vs. concentrated.
Additional focus names were BTDR ANY BTBT BITF etc. and many more. It depends on what price range you want, but as you saw on Friday’s MARA scale – that was where my eyes were.
Also, MARA, what information came to us from watching/being familiar with the tape the prior days? Even if you weren’t involved, what was it that could/should have been used as a risk?
Again, I am just driving home the ‘why.’
Premium builds, and then, much like an ETF, it just decays as soon as the leading reason (in this case, BTC) takes a ‘break.’
This is where my focus is for 2024. I am not exchanging a full day’s worth of time unless we have A+ MACRO setups like MARA that we prepared for. You only need 3-5 of these per year to see an exponential difference and make your year.
Macro theme/sector parabolic and unwind moves are key and high volume THICK THICK THICK float names. Very similar to why were NKLA MULN (a few reverse splits ago) and TTOO (a reverse split ago) the main watches for so many traders?
Why is it important to scale up these opportunities and NOT scale the low float thin traders?
A goal for many in 2024 should be to eliminate fat tail risk. We went over a lot of that this year, but if you focus on these macro A+ types, you’ll be impressed with how much of a difference it can make on your year and well-being.
With scans, I used to try to check all boxes – trying to offer long ideas, short ideas, and even some big-picture ideas. One of the changes I’ll be making in 2024 is to focus on just what I am super focused on and likely change scans to the morning. Balance is one of the goals in 2024. I haven’t decided where my head is at on Sunday videos yet. So far they’re still enjoyable now that I don’t make a production out of it – talk to the laptop and upload and let my man Damian do the rest.
Lastly – I’ve said it multiple times into year-end. I know a ton of you took advantage. CenterPoint is the only spot I actively trade. Through our partnership, we were able to secure an incredible deal. And, if you open an account, we’re throwing a month of IU in too. Here’s the link to the deal for those interested.
- Why MARA Was Top Watch
- Decay Like An ETF
- Eliminate Fat Tail Risk
- Prepared Both Sides
- Scan Changes
Video Scan and Game Plan
Stocks to Watch
MARA reactive trade – I’d want to be prepared for both a big gap up and we’ll go over levels looking left on the video or secondly a big gap down looking for a fast rally to trap more longs look for it to fade off for an hour or two and wait for higher lows to build to risk vs. low. Typically a simple minded traders response would be “well you’re making a call both ways so of course you’ll get it right – hard to be wrong” which I’ve seen often, but, think about sports if you prepare for one situation and the other happens how’s that work out? In football, maybe a sack? interception? Or, in racing perhaps an accident? So yes, come prepared for two scenarios and you have an edge over those who don’t.
RIOT same as MARA
CLSK same as above.
Failed Follow Through:
ALT set price alerts when these fade off radar you look back and it’s $9 and you wonder why you missed it.
MEGL had some rip AHs – watch for blow out and unwind
NKTX big squeezer – I am NOT short biased in a sense that I think it has to go down I am stalking this thing for when it’s time. I faded it on Friday then it went sideways for an hour I covered. I looked back at HODs and it was at highs. Happy to try again the day it cracks will be down 30% probably. As long as you behave it should have a great trade.
RNXT let it run – monitoring all weak opens for possible r/g once it gaps up and blows off on high volume I’d switch bias.
POL possible liquidity trap blow out then switch bias