Video Topics Tonight:
Feeling great and got the T-shirts figured out by a bud / member of IU who has a shirt company thanks John from Loyal Brand.
So, I'm picking a bunch more winners today:
- Dave Shell
- Pete Trades -- Longevity
- Shawn Marsh #NOBODYFASTER
- Mike Fox - "You can and should do more!"
- Trade of year - okay so what. Next.
- Highs are less, lows are always low 🙂 Welcome to trading 101.
- SAVE trade vs. AAL etc. thoughts.
- Someone always makes more.
- Inspiration not influence.
- Stay in your own lane.
Last weeks discussion - peak FOMO and traders getting hurt.
Example of a friend of a friend: DLPN GNUS etc. risk?
1. New to trading newfound money
2. The more you wire the more you wire. If you never wire you'll never wire.
We've got a great crew (many many traders) every Tuesday & Thursday and Saturday & Sunday. I wanted to give a shout to to Randy because I invited everyone on Twitter dozens said they'd be there and only Randy showed up beside our normal crew.
Y'all want the PnL $$$ but can't put in the work to get the mind right body right to get you there. If you can't self motivate - how are you going to get there? DM @AvidityFitness on Twitter or @ztmullin on Instagram.
Remember. Someone always makes more 🤷♂️
My best day? Great probably half someone else's. Start comparing you'll always be unhappy.
Stay in your lane. You'll have your day.
Find YOUR A+ set up. Know when to strike.
This week is what we practice for daily.
Stay focused 💯
— Nathan Michaud (@InvestorsLive) June 6, 2020
Themes SO hot, oil and gas.
Swings have been INSANE from scans / ideas those who are on Twitter likely crushed the MREO call for a double along with MITT MFA etc.
Video Scan and Game Plan
Stocks to Watch
AAL trade of the year for me - both Thursday being a huge trade and then making about triple on it on Friday. We got EXACTLY what I had hoped for $22 parabolic on open was the goal early pre market -- the first thing that came out of my mouth for the morning 🙂 The key was to not size up and get ran over -- posted AAL chart on Friday a couple people as usual who just learn by assuming / skimming vs. reading to learn pinged me "Add add add" to a loser nah, not the case - I was 10-15% max size into open and went to full size per the trade plan off $22 it held, so I sized down let it peak out and re hit it again. It did exactly the goal and hell of a cover too. Game plan here has to be pre market - we'll see if we gap $1-2 up or $1 down etc. Reactive trade but remember it's not as A++++ as Friday so I will not be slugging full size as aggressively as I was unless it sets up again.
NCLH nice opportunity on Friday when I got in there for the $2 fade. Just a tester entry and scaled but not A+ set up size. These things do not all need to pull back even though they've ran a lot, there is plenty of side line cash waiting to buy so when you nail a trade - make sure to pay yourself do not treat these like small cap unwinders right off the bat until they prove.
CCL will have up with NCLH and RCL etc - and look to find relative strength / weakness vs. peers. Ideally A+ parabolic style set up for a trade like AAL. I think most will be waiting so as usual it never happens when you WANT it but rather as soon as you lose it off radar or lose interest so it's our job to keep an eye on it.
LK great opportunity last week. In order to trade this efficiently trade this as a trading vehicle not a coffee company. With this kinda of volume that's all it is. I'd love to see a gap and more shove vs. Friday resistance. More in the room!
Failed Follow Through:
XSPA big time opportunity last week great volume - ideally they shove some more paper down by Monday pre market but we'll see 🙂 I held some over short from the big one on Friday, covered 2/3s of it into the close just to relax a bit and take the risk down a notch given where I was at.
FRSX big time trade on Friday both long off PR and then flip short - patience into the close, posted the chart there on Instagram hopefully you saw it to review. I am hoping for a good shove and then opportunity to fade it again. Will be looking for failed follow through set up post stuff move.
CIDM higher the better - worked well quietly on Friday will be a quiet trade for me again. What do I mean by quiet? I just said my plan - likely the last time I mention it. Better for a trade off people's radars every down tick. Just like the SAVA trade idea I gave for a fade to mid $2s - worked like a champ mentioned once and no one really saw it clicking lows all day. Those are the best.
WORK I have under failed follow through but really it's a trend join time I want to watch it because I think we will have a sizable $1.50-2/share trade in it.
MARK higher the better so far it's been so good to us. The story is about to run out - yay they're doing lots of great stuff for the opening but zzzz they won't make any money from this, they'll make more $$ selling stock. Remember that. Ideally pops and just looking to fade all strength on failed follow through momentum.
Continuation Themed Oil/Gas:
OAS tweeted last week I felt big move in the cheapy oil and gas names was coming - sure enough they took off so I spread my risk across many of them as noted early in the AM Friday in the room I was buying OAS WLL CRC etc all dips and that's what I did. Sold some into the close but riding out the cheap average. Would look to scale up if they come to party on Monday - we'll find out soon enough. Be cautious if a huge gap and fails 945-10AM + trading vehicle!
WLL same as above - killer trade so far always my go to with OAS action or vice versa.
LLEX bought some of this on Friday - again spread it around everyone will be chomping at the bit come Monday last time this happened we had about a dozen 60-100% gainers the following day.
ENSV another one had some swipes into close - I scooped for a swing just in case we wake up .30-.35 + and runs to .50 or something wild. Look we don't know where / how / what it'll do and it may not do much but the reward is / was well worth the risk in the event a few of these do 50%+ moves which many already are on their merry way.
CHK like a mini NBR shorts likely in trouble as well - I am hoping for fire works also will borrow if it gets out of hand.
LPI I took as a CHK sympathy they just did a reverse split - very easily could be opening $24 + and skip up on air. After the AM gap would review / re plan game plan and will share with chat. Already a nice padding.
VAL love this volume - no position on this one but scanner hit so will watch it.
CRC scooped early on Friday as well ideally gap $2.20-2.50 + blow off then review game plan.
Retail Top Watches:
M no reason to assume they've topped but my top watches for retail are the next three. Gaps and any failed follow through look left draw lines and wait for the name to exhaust out traders you do NOT need to be first.
BBBY higher better - was heavy on Friday and then came back nicely $9.50 + over/under will watch for the trade.
KSS always pretty friendly so keeping a watch.
PRICE ALERTS PRICE ALERTS PRICE ALERTS !!
SAVE watch with AAL UAL DAL etc.