Free Scan: Stocks To Watch For Monday October 3, 2022

by | Oct 2, 2022

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At about 2AM last night (5AM east coast) I realized Sunday Scan was at risk if I didn't get back .... so in typical Sunday Scan fashion -- here we are 🙂

Back to regular videos next week but another short and sweet video tonight.  Like I've discussed the last few weeks it's really about seeing the action pre-market. Are we opening up 500 points? Down 500 points? You really cannot make a plan until you see the action pre.

One thing I have noticed is we've still had quite a few small caps running -- which is great BUT this overall tape likely brings in a lot of shorts due to the overall sentiment. If these small caps aren't fading by midday or "shoulda died" you need to take note! FNGR ATXI SOBR etc come to mind. You don't need to find the top. Ever.

Video Scan and Game Plan

Stocks to Watch

NIO reactive trade off open 945-10AM + trend join

SQQQ (obviously inverse of TQQQ) but worthy eye if things start to rally this will fade nicely. I'm interesting in joining a fade not looking to short rips and try to find any top.

AMD tried it twice on Friday on starter but never a higher low never a reason to scale so stopped out both times and didn't bother again since we were wheels up and heading to Vegas. Given the volatility on this name it'll be a market timing trade of choice rather than the index itself.

Failed Follow Through:

LGHL nice prep on this one - we talked about it last week that it was just a matter of time. Fortunately got a good chunk on Friday still have about 30% of the position short from the $2 range and will let it work until it doesn't.

ABOS I think everyone was on the same page on this one ie: short. I think it just needs to work out the emotional/short crowd and then we'll start to see the tide turn. Don't ANTICIPATE it but let it prove. Example is on ATXI if you keep trying to anticipate it look at where you'd end up. Let it prove and THEN get in there.

FNGR clearly setting up to be a big trade but remember let everyone else pay for the information. It's going to be a big trade AFTER .. key word AFTER the trend change. Wait for a kill candle. Wait for failed follow through and just because the candle knifes doesn't mean that's it -- let it re-test fail re-test fail. Everyone hammer the first candle down maybe they're right but I'd rather see more confirmation before sizing.

ATXI another one where I feel like shorts got a great trade off the first 60 mil share day and held since it was a winner and now we see a T+2 traders are likely starting to get bought in or didn't expect to be here. I have it on failed follow through, I do think they raise soon but that doesn't mean they can't blow everyone out first.

ILAG higher better and looking to fade the trend - another one of those whatsapp/telegram pumps

Continuation:

SOBR watch dips for break out.

ALLK nice idea from last few Sunday scans - never got long but hopefully someone did. Worth a watch on all dips may have a nice break out the only thing to be cautious of is if $6.50 exhaust out and gets heavy after.

SNTI dips for break out potential - liquidity trap set up. Remember that doesn't mean it "has" to go - if it exhaust out at prior highs with high volume that may be the cover that we're looking to come in and if it's met with inventory it'll fade off from there. When a liquidity trap forms we want to see a base over prior top and continue to prove.

BBAI another liquidity trap potential set up.

Staying Familiar:

1 Comment

  1. Love Nate, Calm, cool,and all business. The reason we look for instructors. Does not rant and rave, just straight to the point and professional.
    Sure wish he was more long . Would love to study under him.

    Reply

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