Investors Underground Tax Back [SALE]: https://investorsunderground.com/s/mrR5n
Was an absolute pleasure to do an IU interview! Be sure to check out the blog and interview: investorsunderground.com/s/dCWh6/
Really frustrating day today. MTBC “they” knew exactly what they were doing today on this today. I ended my month long green streak today. But thankfully its NOTHING compared to my gains. I’m still green on the week. MTBC triggered SSR in the morning and then a fluff PR came out 10 minutes later. They got everyone from the morning trapped and then rip. I got short using yesterdays highs as my guide but there was a boat load of soaking going on $1.60-$1.70 which had me thinking $2+ was coming. Maybe even $2.50. I was working around a core, but on the 11:02 candle I had stopped out on EVERYTHING because I thought a parabolic was coming. Honestly, Im really proud about those covers. Im really proud for not being stubborn. A wise man told me today that 9/10 times that cover will save you. I agree. Because of those covers I was able to think a little more clearly for when it was time for the reversal. There was a $2.02 bidder that was eating hundreds of thousands of shares like it was nothing. Yet, each bounce was getting stuffed into hard. I can totally be wrong, but I figured someone was propping at the $2.02 level and then shorting $2.10+. He was having shorts get FOMO and shorting $2.03-$2.09 and then having them panic into his shorts/sells $2.10-$2.15. When he finally got the size/exit he wanted he used that long position from $2.02 to slam it (only longs can hit the bid). Who knows what their “plan” was, but can totally tell there was a lot of control. SSR is a bitch. Regardless, when i saw all of that happening I got short @ $2.10 and then when it slammed on the big candle I covered it all for about a $0.30/share gain instantly. Thinking a big rebound would come near $2 for me to get a re short going. Unfortunately the stock was still acting heavy which was strange to me. Before I knew it the stock started selling off near $1.45. At that point I started to think red would come, but did not want to chase it. Waited patiently for a VWAP test and shove. We got exactly that. Premature push above VWAP and then yank into close. Reality is that the stock came from 40 cents and hit $2 today. The company needs cash bad. They state in their filings multiple times that they need financing. I wouldn’t be surprised to see an offering in the morning or tomorrow at close. That being said….. Watching any pops $1.80-$2 to get short into with more size. Day 3 tomorrow. Hopefully the borrow isn’t blocked. I’ll be up early for it. Thinking < $1 coming near term. This has no business being up.
IFON: I totally nailed this one today. Got short near $1 and that was precisely the top. I got as low as $0.80s with my covers. Sucks seeing it hit low $0.60s… Damn it. Regardless. Will be watching pops near $0.80+ to get short again.
DELT: Higher the better. Hopefully tomorrow is the parabolic day and shove above $3 for the short.
CDXC: Keeping this on my side radar. Hopefully keeps extending. Want it higher first before I consider a short on it.
Recent Blogs + FREE Webinars:
My Investors Underground Interview
Stock Talks live stream w/ Cody
Setting Stops & Trade Management
Conviction + Sizing + Why 90% Of Traders Fail
Good scans Alex and nice walk through of MTBC for you. GL tomorrow
Great explanation on trade bro, yet I can’t understand how level 2 helps to see understand what’s gonna happen next. Can we do webinar for this topic?
This is what I like about you Alex. You tell it like it is. Thank you again for the daily recap of your trades.
Nice comments on MTBC trade. Thanks for sharing,