Some serious market melt last week – SPY … tech … everything just melt melt melt. No complaints – action has been great and the lower these fade the better bounce plays will set up as well. As we always talk about – capture the meat of the move. Don’t find the top. Don’t find the bottom. Plenty of meat in the middle.
There will be many times I test the waters to get a feel for the action but it’s important to save most size until things have turned. No different than finding entry on a short – not good to add add add because the risk is unknown. Same thing with long trades, things can EASILY flush more than you think when you least expect.
Last week we had some seriously thin moves – recent IPOs etc. Just another reminder – edge vs. gamble. Literally, career ender moves if caught on the wrong side. There are plenty of other higher edge setups.
Continuing with my goal of after a solid morning if I am just sitting around to sit around and make a nominal amount more — then get off the desk. Daughter is back in school so likely try to mix in some pick-ups like earlier in the year.
Project Impact – Virtual tickets are coming this week! Stay tuned to the @Traders4ACause Twitter handle and some good news for those who are already pledge members!
We had a small block free up this past week now that we have all sponsors sorted (deadline came) and are officially at max capacity for how we run these events.
I know members already know but literally every other week Max (one of my programmers) adds a new feature to the room. The scanners he built from the ground up are amazing. And, now it’s about adding more people who share solid information so we’ll be adding Sam into the mix for weekly study sessions every Wednesday. I am particularly excited about this as he’s been a great asset to the room sharing his knowledge from the start.
- Kevbow – T-Shirt
- Wesley Wood- T-Shirt
- Jazz Nola- T-Shirt
Video Scan and Game Plan
Stocks to Watch
NVDA been a good trader lately 945-10AM + trend join or reactive into any major moves (parabolic or flush) also towards weeks end I will look to sell some premium again. I’ve been trying to dabble in that – nothing aggressive I feel like most start to see how well it can work and keep sizing up more and more and end up in a spot they weren’t planning to be in. My goal is to just do small bits here and there to add to the bottom line.
AMC reactive trade 945-10AM + trend join watch with APE really nice long opportunities on Friday and then flipped short on both.
BBBY volume has absolutely been killed since the ATM announcement – I’d assume they keep selling it down until it’s done they’ll PR it’s done it’ll pop and then use that pop to fade again.
Failed Follow Through:
DRUG higher better nice opp Friday vs the $2.20 line.
PXMD held some over night short from idea on Friday thinking they walked – covered some late AHs carrying rest (small).
HPCO morning shove again is ideal and failed follow through.
GCT higher better and quiet fails off radar
AVYA hit over $2 pre market Friday – pretty nice nearly double on swing idea we talked about last week and week before. Trying to let it work as best as I can for now
AYLA dips vs. $2 is goal – nice daily chart and can see the volume exchange I like late July and then when the chart picks up like this many times has that secondary power move.
RVPH ‘shoulda died’ holding real well will watch all dips if it starts to firm up
AREC trend join potential – no position.