Wild week last week! I haven’t seen action like CEI last week since maybe back to the OTC days! Promos would squeeze out further than you think then just completely die fade off further than you think and then bounce further than you think. Hopefully last weeks scan prepared you for it.
- This week’s giveaway winner: Eddie Dunn
- Vegas bound this week! (Virtual Tickets available here)
- IU Apparel – ALL APPAREL PROCEEDS DONATED ALWAYS (BUT MATCHING ALL SALES THIS WEEK 100%)
Twitter Questions
After becoming consistent. Best ways to size up. Thanks!
— Nairbyado (@nairbyado1369) October 9, 2021
Is managing emotions a matter of screen time and risk management? I catch myself more numb to my losses than I am to my wins. How do I start getting myself to the point where I’m just saying “next play” instead of getting too up or down emotionally?
— MrMcStewtrader (@mcstewtrader) October 9, 2021
Hey thanks for taking the time. One of the best trader out there. You always speak about looking left for previous resistance. But these are the same levels longs look for for break outs. What give you more confidence the stock with go one of either ways?
— Blackness186 (@blackness186) October 9, 2021
How are you implementing unusual options activity to your trading ? I have seen you more aware to options lately
— Gilberto_TFC (@Gilberto_TFC) October 10, 2021
Is managing emotions a matter of screen time and risk management? I catch myself more numb to my losses than I am to my wins. How do I start getting myself to the point where I’m just saying “next play” instead of getting too up or down emotionally?
— MrMcStewtrader (@mcstewtrader) October 9, 2021
Video Scan and Game Plan
Stocks to Watch
CCXI thinking +/- $2 gap and make a plan pre market. I think we’ll have a reactive trade off open and then move along until 9:45-10AM+ firms up. Great work on Friday’s broadcast looking for the unwind, trap and big reversal. Offered some great trades but think about trading this trade into two IMO. Don’t try to force a pre market or reactive trade through the day that’s where the blinders go on.
DATS for the first time broke away from mimicking the CEI trend I showed you the two charts last week and how in tandem they traded – in fact they did until a nice trap move and push on Friday. Got a nice piece of the first move and then finished up trading for the day but $10.80s would have been only key level of interest again. Draw lines and look left $13.50 key level blow off range $14.50 – that’d be ideal. We’ll see.
Failed Follow Through:
CEI I’d love to see $2 + and fails but cautious being biased. Some very clean trading opportunities but sometimes that can give us false conviction that each trade is going to be as clean cut as it was last week. Cautious getting too aggressive and expecting too much – trading will start to get choppy, tighten up and edge go down.
MRNA watch all gaps and possible more fails. Killer unwind. I’m not too biased either direction but would love to see it re-set $270-280 range before rebounding in the week ahead.
Continuation:
VYGR killer long from the trade plan – held 25% of position left. If it gaps and squeezes out I’ll ditch rest and look to replace the position in the coming week off any big unwinds.
AEHR I finally sold the rest of the swing from the mid $6s – hope anyone who participated did well too. I’d love to see $2-3 fade in the near term and re position. I may be fading gaps in the near term but have it under continuation b/c I do feel like this goes $20-30 with our without me (hopefully with).
BMRA so far so good – nice trade plan last week all dips scooped hard but everything over $7 is sold hard. Been trading that strategy around a core without getting too top heavy. If/when $7 starts to base I’d consider scaling more — but for now have to assume it wants to peak. Trying to let this work given my average.
SYPR worthy eye off dips – no position but like the trend forming.
Staying Familiar:
Key takeaway: 14 minute mark. Respecting stops. Being able to rejoin at anytime. Not adding to losers and averaging down.