Here's a brief review from last week and then let's get right to it!
I hope everyone had a great weekend!
CHFS was the trade of the day for me on Friday but for the first time in weeks I did get a bit sloppy on CRC and PINS. CRC was great entries a couple good covers but I went over this before on a recent video about how if you're trading the front side and your core either is staying same or getting bigger and you're not covering enough on pull backs no matter what you make on the realized won't matter b/c it's going to grind you out. That's what happened on this one, crowded short side name + SSR and well, I just was trading what I wanted to happen vs. what it was telling us.
PINS was great opportunity twice nailed the peak for a short period of time and failed to take it off in time let it grind me a bit.
Video Scan and Game Plan
Stocks to Watch
CRC higher better is the goal here - I think the combination of newsletters in and out all day coupled with the SSR trapped quite a few charts waiting for the unwind that never came. Even when it was about to -- another newsletter swiped it up and delayed the move. This one was a great trader, great volume and plenty of opportunities however I just was looking for something more and although it wasn't a terrible trade over all I was just too sized w/o locking in enough (which is the downside of anticipating vs. joining) will discuss on the video tonight! But, killer volume and once they finish off the stubborn we should have a very clean trade here.
SPWR opposite Thursday on Friday - flushed off open and then rose - watch for a trade to join 945-10AM + vs. $9s whether its long or short.
ELOX same game plan as last week - forward looking event Nov 5th which I'd have no interest in holding into but will provide another trade. So far so good from scan plan the last two days - first day hit scanners fast and held trend all day comparing it to RAD / APRN / NVAX if you recall these runners are all THICK PIGS but super thin on the front side of their moves. Sometimes folks get stuck looking at the float and thinking there's no way they can run - they can! But, once they put in a top they're nice and slow fades back. Just remember for when it's time.
KHC this was a great example of looking left on Friday - that's why I got short when I did. Higher better again we may be setting up for the beginning of the next leg higher and long term reversal. For now I'll continue to assume it'll keep having issues with prior resistance until it proves otherwise which I'd then join trend along way.
XNET it's important not to have a HEAVY bias with this one, yes it has no business here but this is all algo driven action then they cut the volume now they're keeping support until the cover comes in more than likely. Shorts are nervous, they are not. They key is entry - trends like Friday catch shorts because they ramp up and retrace 70% of the move, causes shorts to add then swipe up, retraces 70% of the move etc. The more it does that the more shorts add and more emotions come into play - they have far more short than they expected and look back and realize it's move .50 cents against. Been there done that many times. If $5.80s hold trend next few days they can definitely push this out a bit more - although I will be looking for the fade EDGE = reactive trades not slow grinds. If you short front side make sure to cover flushes along the way otherwise AVOID.
ABUS not dead yet - held trend well on Friday so to me that's worth noting - over $1.50 interest me and $1.65s being trigger level.
ISEE reminds me of XNET back in 2017 the first run up where everyone once again looks at the THICK float and makes decisions based off that -- doesn't realize how thin it really is. Front side it doesn't matter how big the float is until sellers show their face. As long as $3.50s base this could keep going could be a $6-8 even a $10 blow off if things keep grinding. I have an open mind here. You'll note the wicks are holding higher lows, you'll also note it's not a run away train. If you are buying for break out there is a good chance you just get shaken out, think big picture when trading this.
ENPH possibly next leg $17 and lower short term.
PTON swing finally working super well. Been a while. Also as I've said all week all dips for me this thing has a crazy amount of short interest. Earnings Nov 5th just a heads up. Big if this thing beats or guides up etc we could be over $30 fast and then make some wild IPO-esque move that we haven't seen in a while. Feels like shorts got a bit aggressive on this one. If the short trade unwound we could have some crazy moves ahead.
GRUB big opportunities the prior couple days key is not getting TOO aggressive on a consolidation day but I think we're going to have a $2-3 move soon ideally to short side of course, that's my preference as always but I'm not bias. I'll look to react to any big moves or opportunity and scale if the trade is right 945-10AM +
PINS was the other one on Friday I got a bit aggressive without a padding despite good entries I was looking for MORE and instead of taking the nail I let it grind me a bit, although trade two was great into close.
CHFS trade of day for me on Friday - hopefully we get some low volume gap $1.30-1.40 + but it's very unlikely. I'd be looking for sub $1 soon maybe raise some more cash ASAP most thought thin ripper but they showed their hand. They were ready to sell.
GE staying familiar for any range / outlier day that I can join.
X another major range name - staying familiar - not an A+ set up but this kinda volume can really offer some great opportunities if you set price alerts for KEY levels.
ENDP unlikely trade but killer daily chart set up - worthy watch
NWL big move Friday should have a trade by Wednesday here with an edge. Just want to have a radar and set price alerts over the consolidation spots.
RAD huge level on daily. Worth an eye.
SDC let this thing rally, has been a huge unwind and heavily short name let the squeeze unwind the stubborn and then I will look to fade it AFTER it confirms back side. We could be slowly grinding back to $14 for all I know so I don't want to step in front. But, the day it does have that big move working out all the shorts into their offers, it's going to be nice. So, staying on radar.