Free Scan: Stocks To Watch For Monday November 2, 2020

by | Nov 1, 2020

October was wild and I expect the rest of the year to be INSANE.

October 26th I reminded everyone not to underestimate the weeks ahead -- and well boy did we have some fun.

I'm not here to get all "the sky is falling the sky is falling" I'm always perma unbiased I just want VOLATILITY and VOLUME.

YES I prefer to SHORT but I prefer to short parabolic moves when pricing inefficiencies happen because that's where my CONFIDENCE is and that's where I personally excel. Yes I go long too, yes I'll join trend but my outlier exponential results are my A+ set up is as you see over and over. Key is you just don't want to be FIRST - if you are it may work sometimes BUT most times you'll pre exhaust yourself and miss the move all together.

I would be cautious thinking whatever move happens after the election is the right move - nothing is ever obvious. The most important thing right now = open mind. Reset daily. Let the trend tell you - don't fight it.

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Video Scan and Game Plan

Stocks to Watch

TWTR nice reactive trade off morning push Friday before unwinding all day. Lower better ideally a gap down flush out towards $40s and a rally. Otherwise what I think is likely is a market gap up push on $42+ blow off and fade back red. We'll have a decent trade but we'll see to see the pre market action first just like PINS this past week.

NIO quite the channel on Friday - this WAS set up for a perfect trade but clearly AHs Thursday night killed that idea. That said $31 + and fades and you can see the only spot to be patient with a fade is $30.30s based off looking left. If weak open all pops vs. $30.30s. Should be a big trade soon but short are super twisted -- but like WKHS GME BBBY etc we'll have a monster back side - it's just about not pre exhausting front side.

SRRK nice fades the last couple days after the long idea from that $24 trap in the room. I'd like to see more push the next few days and then possible fade back $33-35 before consolidating in the weeks ahead. I could see it flushing to those levels and then big wick saved back to $35-36+ yes I know where they priced but just like I said in the room where did DKNG and PENN raise? Exactly ..

Failed Follow Through:

SNAP great range anticipating on Friday right into expected range before the reversal. We should have a few more days of action with decent moves intraday before trading less size and bigger picture moves

JMIA potential for sub $14 perhaps mid $13s before any rebound. Quite the squeeze yes but at this point have to assume the long thesis is extremely crowded. Nice plans in room - if you WAIT for entries this trade works well if you chase entry it has a way of chopping everyone out.

BLRX big miss by me Friday I just left it alone even when I said failed follow through, normally I'd be present there. Nope. $2.20+ for $1.80s would be ideal. Otherwise weak open $1.80s for the reversal $2-2.20s+

CHWY higher better and chart re set back towards $55s

Continuation / Bounce:

OSTK scooped some into the flush end of day Friday - thinking market gap up and ditch and re evaluate the idea.

DKNG destroying the Barstool crowd I'm sure - very easy to have tripled your $$ on this name if you had just started investing with COVID -- even easier to lose half your $$ over the last month keeping that investment. We should have some blow out days and a reversal -- I think we'll have a decent $2-3 bounce day but for now let it unwind could be $33-32 or lower first.

Staying Familiar:

As usual - these are all over extended charts or ones that I think we'll more than likely have a trade on soon.

For these I check how they look pre - I set price alerts on key levels and stay familiar.

Many times they remain in trend - for example like OSTK on Friday any pops look left and fade worked great. Same concept.

4 Comments

  1. Nate,
    I’ve been diligently following your Sunday Scans each week and have found them AWESOME. A month ago I had no clue what you were talking about. Now I’m talking the lingo.
    In the last month I’ve gone from a buy and hold investor to a regimented day trader. Obviously not like a pro, but enjoying every minute of the learning journey. Never knew it would be so challenging. Feels like I’m back in college working on a masters degree again. I love it.
    To date I’ve done approximately 200 trades with a 51% average, which is great for me. Considering most of what I’ve learned came from your YouTube videos and working with my Brokerage Firm.
    Hopefully one day I’ll be able to join your community and afford your training course.
    Thanks for what you do.
    Brian

    Reply
  2. Can you avoid using Language like fade,flush,push in your comments in blogs and twitter

    It’s distracting and confusing

    These are not financial keywords

    Can you use Common financial terms

    Thanks

    Reply
    • They are common terms and I will continue to use them. If you don't gain value turn the video off. Cheers.

      Reply
  3. Great video and info about the unexpected weeks we are in because of the election and rising Covid numbers. thank you very much for providing us with your experience in trading and intellect.

    all the best.

    Reply

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