Pre & Post Market Video Recaps, Chat Logs and Dissecting the Trades!

Pre & Post Market Video Recaps, Chat Logs and Dissecting the Trades!

Hi All!

Hope everyone had a solid trading day today! I shared my pre market broadcast today to give you guys an idea of how we go about it in the Investors Underground community each morning. We've put the chat logs below that as well as the daily video recap lesson.

What I would suggest is the following:

1. Review the pre market plan where I share my screen grab the mic and discuss my game plan every morning
2. Skim the blog and the charts
3. Skim the commentary
4. Review the recap video at the bottom of this post
5. Go back through the chat logs (at he bottom of this post) in real time - check out the charts and see how we do it.

It's an incredible community at Investors Underground!

My goal on the pre market broadcast is to verbally cover my main two or three watches as well as secondary watches which I just want to be "familiar" with. Being familiar with a name allows you to react much quicker when and if it hits scan. A perfect example of that today was CMCM - while it wasn't a MAIN watch off the open as soon as it did what I was prepared for I got short and let it work.

My goal on AMRN was to get short into any strength - I felt like it was going to stay heavy and weak today but would need some time to really unwind. I felt like it was a very retail crowded name and thus prayed that we got some upticks to get short 🙂 And, yes we did. Goal was to short into the $18.20-18.40 range and look to scale if $17.70s stayed heavy and prepare for a major flush out if $17.20-17.50 got heavy a few times to $16.80. It couldn't have behaved better.

Below is the trade I took in my CenterPoint account -- I also had a few more trades in Etrade later on anticipating that big unwind. I carried a short most of the day in Etrade while I traded around a core in/out pressing a bit and sizing down along the way. I would encourage you to review the chat logs and commentary by using Ctrl + F then type AMRN and read all comments.

07:47:48 am InvestorsLiveAMRN behaving so far
07:47:49 am InvestorsLivehigher better
08:31:10 am InvestorsLivewill be starting slowly AMRN -- and goal of some pops to scale into
08:37:00 am InvestorsLiveAMRN slowly working nice so far but it's not the trade I am going for

08:37:07 am InvestorsLiveI need to leave plenty of room off open
08:42:18 am InvestorsLiveAMRN I think people put a ton of faith in the raise price

08:42:26 am InvestorsLiveand I hope they do because if/when it breaks -- oh my
08:48:36 am InvestorsLivegoal on the AMRN is that everyone defends $18 ... mid morning puts a lot of faith in it (retail)

08:48:45 am InvestorsLiveand then slowly churns churns churns to heavy and unwind

08:49:03 am InvestorsLiveif 1840s stays heavy 1820s ... and 1780s becomes heavy i could see 1750-1720 panic unwind like prior oweeks

08:49:24 am InvestorsLivenot really thinking the trade gets crowded either just my 2 cents -- but will let market tell me
09:20:58 am InvestorsLivejust repeating ie: AMRN already was a nice trade but -- as noted $18.20-18.40s would be ideal that's original plan and possible my goal is not to just add add add if it stays strong

09:21:04 am InvestorsLiveI want to see stuff / failed follow thru etc

09:21:10 am InvestorsLivejust repeating since prob will be a popular one

12:55:07 pm InvestorsLivecov to 1/2 size AMRN ideally still get those $16.80s

(See chat logs for the rest below)

AMRN Chart AMRN Fills

CMCM was a pretty big one as well but unfortunately missed the second part of the unwind. I shorted into the $8 ramp and then scaled along the way. Each time I sized up it sorta worked immediately so sized out around the core. I made it to about $6.70s best -- looking back at the chart I guess that's embarrassing 🙂

This was a great call in the room by T530 on Monday which the article posted the other day.

 

08:34:20 am InvestorsLiveCMCM higher better

08:34:27 am InvestorsLivethen sub 7.50-7 is ideal
09:33:30 am InvestorsLiveCMCM slowly per scan

09:33:34 am InvestorsLivequiet trade for me there as well
09:45:35 am InvestorsLivenet ss CMCM

(see rest of chat logs below)

CMCM shorted into the ramp - boxed it to not deal with SSR and then went net short through the first half of the day:

I'll be first to admit I did have help on this CMCM trade -- my person analyst at the office helped me 🙂

CMCM Chart CMCM Fills

ANY has been a great trader lately - it's trading the entire float on average 6-10 times a day the last week +

This is how I've traded it the past two days around my core from sub $3 with the $3.30-3.50 adds from last Tuesday pre Thanksgiving.

ANY Chart

Last but not least the name I really wanted to touch base on was ASNS. As you saw on Twitter I felt like someone was super trapped. In past years I know NOT TO SHORT but -- if I know NOT TO SHORT -- why am I not long?? So that's something I've been adding to my arsenal over the last year and a half. I would pay particular attention to the commentary surrounding it and yes once again I made it to $3 but never really sized up and left a great deal on the table. That's ok - welcome to trading.

 

11:41:59 am InvestorsLiveASNS someone seems beent
11:54:24 am InvestorsLiveASNS toying w/ shorties big time what a tough trade either direction -- no trades on it for me tho
12:38:05 pm InvestorsLiveASNS shoulda died like 12 times -- impressive EOD may be intense
12:46:28 pm InvestorsLiveASNS will be trading dips vs. VWAP quietly

12:46:32 pm InvestorsLiveuntil we get a stuff
12:46:40 pm InvestorsLivejust feel like they've worked shorts where they want them
12:47:05 pm InvestorsLiveif it stuffs 2pm + then would consider ss back side
01:30:14 pm InvestorsLiveASNS nice game plan so far
01:43:19 pm InvestorsLiveASNS bingo

(see rest in chat logs below)

ASNS Chart ASNS Fills

Video Recap of Today's Trading

Investors Underground Chat Logs from November 27, 2018

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