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Scan for 05/01/24 From Nate

by InvestorsLive | Apr 30, 2024

What a wild EOD move on all things pot stocks. I won’t lie, I’m glad I had that appointment I had to leave for 🙂 I think I would have been chopped up on a few attempts as I 100% did NOT expect that it’d matter “that” much and really figured given how the charts were breaking down that it’d be a nice exit for anyone that got bagged like a liquidity event of sorts and fade off. But, like Sunday video — first thing I did here’s the levels don’t fight above it, only spot to be patient is below it. Next level same thing and each time it flushed under those key levels they IMMEDIATELY swiped back up and over within the very next candle = ie: ZERO confirmations.

Anyway kudos to Cody for being so bullish and taking advantage of the move. Well done. Happy for him since I know its been a pain in the ass year for him (as he’s posted on Twitter once,, twice or upwards of 420 times, lol).

Much like MULN yesterday at $4.80 being a nice long spot I should have been long on any of those levels on CGC ACB TLRY etc. But, hey easier in hindsight. Nice opportunity when I got back to the desk for a fast buck but once again you had to be there and cover.

The market is rewarding those who trade the action and move on. If you over stay you minimize.

MULN levels today fantastic. DJT levels today fantastic. I would go back through those and study the concepts, that’s what will bring you consistency when your A+ set ups are not there.

CGC the big thing to remember there was that $9.80 which was a prior top many times became the support.

Yes frustrating day to miss some of the big action but feels like stuff like that happens every day so I guess I’ll bitch about another big miss tomorrow too 🙂 At least got that AKBA this AM. I did however minimize that HWH trade again – cleared out $3 again and then failed in a big way. Hard to make the right moves on these should have sized out way more than I did, but – I didn’t.

Regarding 2024 goals update – I am going to try to start really focusing on hard stop 11AM (realistically noon) and just ride stops rest of day. Just have to start somewhere. I have 20 year old habits that I have to break. I’ve only known one way since 18 and that is to bust my ass every day. My goal is to still spend a lot more of the summer months with my kids because I can, and I can’t get this time back. You’ve seen all the value we’ve added. Technology to replace what I used to do manually – and way more. Traders/mods promoted to cover all I do – large caps, mid caps, small caps longs and shorts, swings etc. All I am going to try to do is continue to work on balance – not as easy for me as it may be for some who have no other strings attached. But, work in progress.

I’ve greatly reduced size on small caps and regardless of entries on front side I will NEVER size much until AFTER open or AFTER a major exchange and fail.

I’ve done well cutting back Twitter(X)/Sunday videos still my goal is to just focus on quality off open and stop exchanging my time for sub par set ups and reduce the process for scans. I am building a system to monitor my watches in a better manner.

Main Watches:

IMCC mover AHs ideally some circuits blow out and failed follow through

CGC options/short blow out we could be in for $2-3 swipes off open or hell, maybe just one day wonder. Who knows. We’ll see in AM but BE CAREFUL falling for the walk down into open only to swipe/trap back up. Remember OPTIONS are involved here. Stuff hangs around longer than you think. Go back to NVDA trade and SMCI trade – huge stuff off open FLUSH trap and swipe back THEN clear out and failed to follow through. SOUN same thing. Go back review SMCI NVDA SOUN on the A+ days. Cautious committing into weakness 930-935AM the ONLY edge for conviction size is opening at pre market HIGHS squeeze out and stuff. Walking down into open can be a huge trap.