What great opportunity today.
Hope you all did well. Did not expect that good of a day on the day I was back at my desk.
Zone in and lets close the week well. We have a three day weekend!
Main Watches:
PENN major major trade coming today. Key levels posted today worked to a tee – covered into them with no reason to rescale since it was supported well. $30s AHs goal of blow off and should have a monster trade coming. Do NOT pre exhaust. I say most behaving but many in lounge still add add adding and not trading proper game plan. Make sure if you’re trading front side you’re respecting the rules!
CWH higher better – same as yesterday and looking to fade it. As noted goal was $20-22+ blow off – will keep dabbling until its time to get a feel for it.
BJ looking for that one big trade tomorrow and will move on. Reactive trade off open is ideal. $36-37 para and sit back.
Failed Follow Through:
INO higher better and back side lean.
MRNA tide may have changed. Higher better and fade to $58 is goal short term.
XTNT hope comments helped today. Worked like a charm. Higher better tomorrow and more unwind.
SURF morning shove is goal $6.50 + or higher then fade off. Thought is it likely gaps down but this volume is a joke so if it holds $5.80-6.20 base we could be going to double digits.
SNCA pretty perfect – higher better for back side.
GSX covered more today hopefully some pops to re add around core. Nice gap down and flush today from swing short from Monday.
Continuation:
CLSN held some over night – got the pull back into the close I wanted for sprinter AHs, closed near highs AHs. Ideally $3-3.50 in AM if not I’ll move along.
ACB big trap today. Looking for $18-22+ short term if TLRY CGC agree.
MCEP keep eye recent split if this knocks out $3 with NBR FTSI CHK theme – could be a nice opp.
Staying Familiar:
HOME ideally get another trade like today higher better.
Rest staying familiar on – setting price alerts and focused when trend breaks.
Thanks Nate!
Thank you 🙂
Thanks Nate! It’s great when you give the theme tickers – so I can start to group them in my head.
– Question – you’ve used the term ‘pre-exhaust’ alot and I can’t find it in the materials (or overlooked it) – what do you mean by that?
Best to you and the family!
I think he meant b in front of the move…
We’ve talked about it on Sunday scan a lot – the idea of not exhausting yourself on the front side of the move trying to find the top.
Example PENN yesterday – was a great trade but as you saw many didn’t trade it and cover in suggested areas rather fight … add … add …. try to find top = exhausting.
Cautious with that you’ll miss entire trade.
does that mean – to get oneself tired of entering at a wrong time (without basis/proper confirmation), adding adding and adding, and waiting for the better (trend reversal) ?
just seen the answer from Nate, thank you )
thanks nate, welcome back! congrats!
Thanks Nate 🙏
Can you explain backside vs frontside in more detail? Is there a specific video/lesson on this topic?
frontside=antecipate d move/high risk= high rew
backside= when you got the confirmation= low risk = low rew
frontside=antecipate d move/high risk= high rew
backside= when you got the confirmation= low risk = low rew
Thanks nate.
Thanks Nate
thanks Nate hope you have a great long weekend
Thanks