An amazingly beautiful weekend in the North East - clear sky and warm weather!
Remember why we do this stuff - so easy to get sidetracked by social media in more way than one. PnL's flashy crap and feel that you haven't done enough, well, up to par etc but at the end of the day all that matters is you creating your best life. Accomplishing what you want to accomplish etc.
Happy Father's today to all the Dad's out there.
- 1000+ likes = Quarterly IU + Bundle next week
- Like YouTube + Leave Comment (Time Stamp ex: Key takeaway 11:13 "This part was my key takeaway" allows others to click the time stamp and re watch it.
- NEXT NEXT NEXT (AMC + Last 2 weeks)
- Huge new tool launched: WSB MaxAlgo
- There's more coming 🙂
- Swings APOP doubler & some over stays PLBY GAME (MLLLF +$4 to back to where it started)
- Cohen INTERVIEW !!
- Always Look Left: ALNC GERN
Three rules on risk 👇
"Liquidity, leverage & concentration"
If too illiquid = Problem
If too much leverage = Problem
If too concentrated = Problem
- Steve Cohen@jscherniack 🙏
— Nathan Michaud (@InvestorsLive) June 19, 2021
"It's the market...!!"
"It's amazing how people attribute outside forces to what's happening to them, as opposed to being accountable and dealing with it."
- Steve Cohen
— Nathan Michaud (@InvestorsLive) June 19, 2021
"Hold into the catalyst they said" 50% drop from warning. Great example of chalking up a loss, fear, down side to someone else vs. understanding the reality of the situation.
$UONE folks figuring out the trade into Juneteenth was before Juneteenth.
— Nathan Michaud (@InvestorsLive) June 15, 2021
Putting fear into people holding. Come one Nate...
— Krix (@krixtrades) June 15, 2021
Its the entire market…this tweet only creates panic selling for your followers
— javier otalora (@cocopauli) June 15, 2021
UTME Warning RCON TIRX YGMZ - Monitoring the situation - let the room know very early. Sure, I nailed the sure but sometimes it's about knowing what BOUNCE trade to avoid!
— Nathan Michaud (@InvestorsLive) June 17, 2021
How do you differentiate when you add to the short and when you bail?? For example how you added to AMC at 63-64 and when you bailed TRCH to re-evaluate at a later moment
— Yisuuz (@Yisuuz_R) June 19, 2021
I have watched so many training videos on level 2. Your always talking about watching the tape. How can you specifically tell when it "turns" and it's time to get in or out?
— Mike....just Mike (@ForshtMike) June 19, 2021
How should a beginner handle a recurring big red days, breaking rules with poor dicilpline? I’ll have a solid month or few weeks being very consistent and then boom just like im possessed by someone else and I give back weeks worth of profits and good disciplined trading.
— J.Rose (@11jrose) June 19, 2021
Can you explain what you see when a ticker is heavy. Like how you called the top on ORPH? Thanks
— Arnie (@RightAdvices) June 19, 2021
I would like to know more on looking left. You may have went over this before but I am new and maybe missed it. How far left? 1 month, 3 months, 6 months, 1 year. Are you looking for pattern recognition at this point for a breakout or break down?
— Edward Detommaso (@pdetommaso) June 19, 2021
Video Scan and Game Plan
Stocks to Watch
GERN pretty nice opportunity on Friday - I left early otherwise really nice set up to review looking left on without the need to find the top. Going to look for weak open and rally back or gap up re-test $2 + with risk based off Friday highs.
VXX if market doesn't completely fall apart this should offer a nice fade when volatility settles.
NIO may not look like much but really nice opportunity on Friday. Twice. Great nail in room off open and later on. Key here is focus on prior support/resistance. More discussion on Monday once we get more clarity LI XPEV secondary watches there.
Failed Follow Through:
TRCH was long a good truck load at $5s but it did a good job working me out and second guessing myself all good. I think we could have a REALLY nice opportunity this week after it blows out a few more shorts either Monday or Tuesday. Higher better watch the volume and trend. If the volume continues to build IMO lots of shorts are stuck from the filed ATM as noted in the room -- if it stopped making lows I think shorts got a bit too aggressive the day after they filed.
AHT higher better and more fade $5 is a huge level if we break it -- could flush mid $4s and come back quickly. This has been a really nice on on scan every single day.
X killer trend joins on Friday - great trades in the room and more unwinds later on in the day. Ideally we get more heaviness followed by a deep flush for the rebound. Any good gap up that fails to follow through I'd look to fade.
CLF same as above.
WISH so far it's had relative strength. Been adding around core and selling rips - great set up Friday before the break out.
LKCO no position but trend firming up watching dips vs $2.20.
APM dips (idea from few weeks ago given the daily set up we went over) slowly getting there.
HOL no position watching for this to firm up $11.50s + vs. $11s for big picture idea.
The following are names I want to be familiar with and price alerts I will set - waiting for names to break out of trend and/or set up with a high probability trade.