T4AC week is finally here!
Short scan tonight, short video as I am SLAMMED.
Last week’s video title was preparation for reversal in the market. I gave you two focus names FAZ and LABD for shorts in the event the market got a footing.
Perfect trade from Monday open until Friday!
I need to come up with about four speeches between now and a few days.
Visited my Uncle Thursday, and unfortunately, he passed as I drove home, and I’ve been asked to give the eulogy on Monday.
I’ll be in Vegas from Thursday through Monday. I am excited to meet all of you – biggest event we’ve held to date!
Great ideas last week on LABD FAZ for those who paid attention – obviously UVXY with it.
Nice breakouts last week – again, NEVER UNDERESTIMATE bear market rallies. Most folks are not sellers. When things unwind as they did, it’s because people are getting forced out, stopping out, margining out etc. Once that’s gone and sellers are gone, there’s no paper to be found.
I’d imagine Tues or Weds we get a solid fade opportunity in the overall market – thinking it COULD hang on one more day.
I’d think they flush the market off open and tease everyone again with a pullback, catch some more shorts off guard, blow them out, and then fade it Tues/Weds.
Check out our Trader Dads Interview if you haven’t already!
Video Scan and Game Plan
Stocks to Watch
PLTR big daily chart break out – weak opens likely get bought up and big gap up overextensions for fades.
SAVA higher better for back side vs. $24
CPS weak open vs $18 for $19-20 potential
CFLT nice opportunity on Friday after the exhaustion move.
Failed Follow Through:
OTLK impressive recovery – gap .50 clear out and fade.
FNGR higher better for back side
BTAI nice idea last week – thinking one more good gap up clear out of prior high and then fade back.
HOWL weak open for r/g
NKTX weak open for $2.50 + blow out and then possible retrace.
WRAP so far so good – nice idea last week continues to make highs. Watch dips vs $2.80s until a clear out occurs
IMTE doing the walk up – history of liquidation on watch
EJH continued walk up – all BS much like CLEU