I hope everyone had a fantastic weekend. Happy Easter! Welcome to the many new members this weekend! It's very important to take it slow and review the resources we have introducing you to how we roll in the room vs. just jumping in head first. Each morning at 9AM I jump on the mic, share my screen and go over my main watches for the morning - what I am looking to trade reactively off the open etc.
I pretty much do a new daily video recap EVERY day (I promise 2-3 days a week) some times it's that most times it's 4 to 5. I'll be doing webinar likely Wednesday I will confirm in the room tomorrow!
As usual I have some main watches as well as charts that I like. Right now I only have one swing trade on (discussed below) - moved on on the rest so I am actively looking for some trending names to join momentum.
I am not looking to trade every name on watch list - I am looking to be familiar with them so that when they do come across scan I can be that much more prepared !!
Some incredible news alerts in the room last week!
Here we go!
Video Scan + Game Plan
Stocks to Watch
MBIO great read on Thursday morning flush long entry for the rally - didn't stick around enough for the into open squeeze but started in short with some great high $9.80-10 + shorts to add to my starter but really did not stick around long enough. It didn't exactly what I thought - the ETB squeeze off the open followed by the "this news REALLY does NOT matter" fade + $75M ATM etc -- and still just under-performed by a MILE. That's OK though. Higher better tomorrow and looking to fade it, only way I'd trade this long is a weak open flush and rally back or Tuesday/Wednesday as a potential T+2 day since so many had access to the borrow.
AMRS $4.80s base and consolidate - another nice one had the swing mid $3s for the $4 break out but peanut size. Still think this can offer a really nice squeeze out - it may need to pull and consolidate for another day or two before it can make a big move but for now I am going to trade weak opens that hold trend past 945-10AM as opportunity for higher
NEW be cautious entering a position at this level, this is no stranger to the weekly scan. Been swinging since February when I said I was selling QTT swing and looking for similar trade here. So far, been amazing month on it. We'll see what happens. Trade cautious make a plan - the swing trade is well into a doubler + now. Way to go everyone.
— Nathan Michaud (@InvestorsLive) February 1, 2019
QD love this volume - may finally be "the time" this thing has so many failed break outs and finally looks half way decent again - this time with volume to support it. I'll be looking to join trend with max risk vs. $6.20-6.30s (I'd like weak opens) if it can't hold or gaps up and has some wild .50-1.00 + move THEN speeds up I'll be looking to fade it into a parabolic.
RENN looking to trade dips into the vote (I think Tuesday?) I'll verify by morning and let chat know.
RIOT 3 day weekend so there was a ton of risk over weekend for crypto type moves - but will be watching for continuation vs. $5s - amazing how well this thing trends with the coins. Shorts likely positioned well but I don't really see this as a run away train, I see it as - if you're looking to get long, watch your size, be patient, get good entry and let it work for you vs. working for it. These types love to re-test many times if you use the wrong size and scale too quickly you'll just get chopped out.
SNBR higher better ideally re-test $40 level if you look at intraday chart from Thursday and look for more fade. Good volume should have a clean trade for another day or two before the volume goes away.
UXIN unreal unwind and unreal bounce - shorts stuck nicely now probably but only for a few more days. I traded that flush into the$1-6x's-$1.4x's didn't over size but made it to about $2.05 best exit and then blinked nad it was $3.50 at this point I'd expect either another gap and morning ramp / squeeze out everyone into some parabolic action and then fade off or a brief consolidation day before inches higher. I don't see this as a short the pop for the big yank again - I think that was an outlier style event, wrong people on the wrong side blew out / margined out on the long side and now squeeze out the shorts - sit back for a good short opp but not looking for a 'tank'
TIGR higher better and more fade I still am thinking $14.50s likely before any rebound maybe even lower. Still feels like everyone is very happily buying dips.
RBZ is a total trash box but keeps getting my interest - they have warrants they just raised yet it's holding on so I am interested but the key for me is $5.80 and nothing to get excited about until $6.20 - that's been the top each time. Typically I'd ignore and likely will - the fact it just keeps holding on has just caught my eye. That's all.
STNE major vol major unwind Thursday - looking to trade it re-actively off any big move off open or 945-10AM + trend join
PINS I don't trust it yet I think it will be a decent one - but I'm thinking everyone is on the same page here. I am looking actually for weakness the next day or two or side ways price action before we have any "easy" lay up trade -- and by "easy" I mean w/o the chop intraday but rather a trend join and let it go.
SQ could see this flushing to $68 or lower off morning rush - volume picked up Thursday.
Next three are very low volume - they are more of bigger picture potentials until the momentum settles. They are not REACTIVE trades but rather watching for dip opportunity. Two were already nice moves and worked perfectly I just missed 'em despite having them on scans last week for these exact moves.
ACMR from scan last week so far so good. Would look at all wicks like that that hold trend as an opportunity to join. Until of course - momentum fades off.
QFIN a solid chart and a great idea by Josh C this past week in the room this like VIOT really hard to trade given the volume but if trends hold there are the types that sneak way further than you think. Idea was literally on the $18 break on QFIN and $12 break on VIOT - I definitely dropped the ball since they were swing ideas and didn't have funds really avail at the time in the swing/IRA acct so this week I'll be looking for the wicks we talk about each weekend on these scans/video.
VIOT same as above - dips for potentially higher over the next few days. Keep in mind as soon as momentum fails here - don't over stay. Check NIU chart - it's great until trend breaks, do NOT over stay.