5/27 DRC
Big day today, SPY gaping up again above 300 and into 304 before we saw a huge vol increase and sell off into the bell.
Cruise/Airliners are popping. Looking for long continuation there.
Ive got a lot of other beta names im looking at today. Mainly to the short side. Names like TSLA NVDA SHOP BYND TWLO DOCU all remaining weak while SPY is still up % wise. A lot of room for retracement in some of these names and a lot of failed longs got stuffed right away. Expecting to see some good moves.
Yesterday just wasnt on my A game. Im feeling much better now ready to go. Lots to look at, lots of opportunity today.
1. Stay aggro.
2. Get back in when the stock tells me to. That means if I get out, and it reclaims level shortly after, stock is still trading alongside my thesis. I must trade it.
VTIQ
Weak open for just about everything. VTIQ was coming down past prev HOD and into pmkt S/another old D high. Tape was great saw buyers ocme in and hold price above the level. Got a starter once a hidden/refresh seller was finally gone and added as it kept going and bids came in.
Came back down past entry, no significant selling and bids stacked up at lower prices taking out offers still. SPY still getting worse. Initially looked like it was bouncing but failed.
Seller came in, we didnt take him out, stopped out.
TLRY
Also weak open, lost pmkt low and old AH hi spike. But reclaimed it and vwap and showed good signs of buying. Got a starter on new range high, added as we kept breaking higher. SPY also bounced finally.
Will add more depending what 11 looks like on pb.
SPY just dumped even more and TLRY had a huge flush. Got out before it could get worse.
CCL
Whole open was just a straight line down. CCL came into play with original daily breakout level and tape had some buying. Got a starter as it failed a push lower, Added as it failed another push lower, bids stepped up. Added again as we ticked higher. Tape looked good, but ultimately no luck, stopped out.
ALLO
Big bio name that has been over extended for some time. Yest had huge stuff candle and gave me a nice lod with 2 tests at it. It broke lower and later retraced to it + vwap + 49. Saw a seller, nothing significant size wise but I got a starter going as we were in a great spot to find some R.
We started ticking lower and sellers followed I added.
BIG seller (relative to ALLO) came in I doubled.
Market finally showed signs of life and was pulling back up to vwap. Very very slowly.
ALLO was dropping but spread getting tighter as buyers stepped up. We showed seller at 49 again, same size as last time. Added more.
Broke seller, must wait for PA. Very slow name.
Came up to micro range high. Only 100 share order broke it. dead volume. Market started turning lower SPY very quickly dumped back to 200sma.
ALLO started ticking lower again v slow, I added.
Freak volume candle spiked us lower. Spread got very wide. No reason to change stop yet.
Very odd tape action here but I guess I shouldnt be surprised cause of super low volume. Every tick we get lower, seems like a quick flood of sellers comes in with limit orders to catch it, then they disappear. If we can get another flush lower under last spike low, stop will change to pa above whole number, for a small red trade. Enough time has passed + market weakness, we should go.
A problem with this trade is 48.50, PT is 48 but .50 is weekly POC. Not changing anything and its a very very tight range with POC + value area. Will have to judge tape.
We did make new low and SPY trying to make new LOD. ALLO finding some buying just under POC. If we can lose this area though, should be a fantastic flush.
Market internals continually getting weaker, SPY just lost LOD.
SPY still flushing lower, bids just dropped out from .40 to LOD so expecting it soon.
Stop changing to .65. prev LOD + micro range hi. Wont let this turn red.
New LOD, 48 break v shortly. Waiting.
Broke and offers stepped under right away. Will wait to take half. Bids are so thin. Very spaced out. SPY getting vertical, the wrong way.
Deciding to take half of my half. Spread is .40 cents and wanting to take off into weakness here as I have it.
SPY seeing relief and bouncing, ready to take other quarter.
under 47.30 could be really ugly as its weekly range low now. 3x LOD
Broke it, vol spike. Took off another quarter of my quarter lol into weakness. Still holding a quarter of my original take profit.
Took it as we started coming back up. Holding half original position. Will take a while to determine new stop. holding above 48 is it for now.
Found hidden buyer, broke under him. Good spot for him to show up, maybe an early exit if I see him again.
F also just realized we filled an ATR move here.
Made new LOD by a penny. Will wait. New stop to work with just under 48. Market pulling up. Taking off half here if we start ticking higher. Lots of reasons to hold above this area. Especially if we arent going to flush again after new LOD.
And stopped out on new high.
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Seems to be case for re entry here. Odd candles just under 48. Maybe hidden/big seller. Watching PA.
We broke above 48 if it fails Ill get back in here.
Did not and ripped back to vwap. Good exits.
MRSN
Not on original watchlist but glanced at it and saw it had a nice scalp setup. Went for break above recent high, got skipped but filled on pb. Seemed to get stuffed again and got out before it got worse.
TSLA
Another big weak name today. Pulled back to vwap + big HTF zone and found some selling. It was making a nice rising wedge into vwap, broke out above it to the upside and found good selling. I got a starter short.
SPY at this time just had news about hong kong, seemed pretty irrelevant as PA went right back to normal a few minutes afterwards. SPY was also at vwap + 200D sma and previous LOD. Looking like its rolling over. Waiting to add
Forming a nice base here between 806.50 and 805. Will add under 805 and then rising TL will be in play
Got the add, SPY also spike higher above micro range and got rejected. RVOL .8 so we need SPY here. We will also have to lose vwap and this HTF range we in the middle of. Am also paying attention to a BA short atm.
Added more as we got some momentum lower + selling on tape.
SPY decided to rip higher above vwap and this area. TSLA slowly following it but not quite as strong. Gotta give it its room. Did reject a push lower into vwap though. Warning signs are here but no case to change anything.
Still a lot of red / selling up here.
And stopped out. Think I was too sized up here given the context of the market. Nothing was confirmed rolling over and weak yet, I was anticipating it. And with too much size.
LATE AFTERNOON
SPY just kept grinding higher. Looked for either pbs to short, or longs that presented themselves after claiming levels/areas
BA
BA reclaimed above important areas mainly yest high and vwap. It had a nice range above it to work with. We broke lower into vwap + HTF level +146 amnd I waited to see some buying. We definitely got some and started ticking higher. I got a starter and added when I saw bids come in. SPY at this time broke higher from its range and continued its uptrend. BA was now lagging but still holdign with good signs. Gotta wait.
Stopped out.
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Flipped bias here as now we were holding under these levels and had some off selling at whole number. And relative weakness. Got a small starter short under vwap as it was trying to get back above.
Tested above and failed again. Sellers kept stuffing it lower and stepping lower. Added more a couple of times.
Added on micro range break lower. Still seeing good selling here and SPY slowly rolling back over.
And ripped me higher.
Then SPY decided to crash a point lower.
Going to call it now before I make myself more angry. Biggest problem today was missing trades. I had a few second chances to grab a short before everything started moving but I was unable to do it. I spent too much of the morning being mad I missed some chances to get in. At least I got ALLO.
TSLA was A+ with micro range failed breakout into huge HTF with multiple variables there.
Couldve gone for SHOP scalp breakdown
Missed DOCU short same time as TSLA short, and skipped a good long late afternoon
TWLO I should have taken 15min into the day for a short.
I was focused on other stocks at the time is the 'problem.' I have to be faster. I have to click to get in the trade regardless of if I can watch it or not. Get in, set the stop, refocus back to whatever it is I was looking at. These trades were clean and clear and could have easily just gotten in on them and let it go. But because I am looking to get aggressive in the names I was watching at the time, I decided to ignore them completely and stay focused on the name I was looking at at the time. Shame.
Solution
If a stock is hitting all the checkpoints it needs to, and trading clearly above/under a HTF zone/level. I need to be in that trade. There is nothing else to wait for. The tape is for adding and getting aggressive. Not just getting a starter on a trade.
Why does this matter?
Because I missed some damn easy trades that were screaming at me to get involved from the way price was interacting with levels I am looking to trade against. Early morning weakness + big gap up + yest same case and sold off + following yest weakness. Shorts where the way to go. Instead I was looking at buying dip longs again.
I have to start considering time of day in my trades as well. With TSLA and BA late in the day, they need time to build again. Especially after the big downturn they just had. These trades I took on them I expected them to be one done and gone never to return. But I forget that those kind of moves just dont happen more often than not later in the day. BA ended up being a great long after it based out for a while, then did exactly what it did the 1st time I went long.
Its fine I take losses its part of the game. But context and risk matters most depending on time of day. I dont need to be risking 80$ on BA or TSLA in the middle of the afternoon when they have only just started showing signs in favor of my bias.
Goals for tomorrow
1. Stay aggro
2. Consider time of day when trading in afternoon. Stocks need time to build. They are rarely one and done.
Cruise/Airliners are popping. Looking for long continuation there.
Ive got a lot of other beta names im looking at today. Mainly to the short side. Names like TSLA NVDA SHOP BYND TWLO DOCU all remaining weak while SPY is still up % wise. A lot of room for retracement in some of these names and a lot of failed longs got stuffed right away. Expecting to see some good moves.
Yesterday just wasnt on my A game. Im feeling much better now ready to go. Lots to look at, lots of opportunity today.
1. Stay aggro.
2. Get back in when the stock tells me to. That means if I get out, and it reclaims level shortly after, stock is still trading alongside my thesis. I must trade it.
VTIQ
Weak open for just about everything. VTIQ was coming down past prev HOD and into pmkt S/another old D high. Tape was great saw buyers ocme in and hold price above the level. Got a starter once a hidden/refresh seller was finally gone and added as it kept going and bids came in.
Came back down past entry, no significant selling and bids stacked up at lower prices taking out offers still. SPY still getting worse. Initially looked like it was bouncing but failed.
Seller came in, we didnt take him out, stopped out.
TLRY
Also weak open, lost pmkt low and old AH hi spike. But reclaimed it and vwap and showed good signs of buying. Got a starter on new range high, added as we kept breaking higher. SPY also bounced finally.
Will add more depending what 11 looks like on pb.
SPY just dumped even more and TLRY had a huge flush. Got out before it could get worse.
CCL
Whole open was just a straight line down. CCL came into play with original daily breakout level and tape had some buying. Got a starter as it failed a push lower, Added as it failed another push lower, bids stepped up. Added again as we ticked higher. Tape looked good, but ultimately no luck, stopped out.
ALLO
Big bio name that has been over extended for some time. Yest had huge stuff candle and gave me a nice lod with 2 tests at it. It broke lower and later retraced to it + vwap + 49. Saw a seller, nothing significant size wise but I got a starter going as we were in a great spot to find some R.
We started ticking lower and sellers followed I added.
BIG seller (relative to ALLO) came in I doubled.
Market finally showed signs of life and was pulling back up to vwap. Very very slowly.
ALLO was dropping but spread getting tighter as buyers stepped up. We showed seller at 49 again, same size as last time. Added more.
Broke seller, must wait for PA. Very slow name.
Came up to micro range high. Only 100 share order broke it. dead volume. Market started turning lower SPY very quickly dumped back to 200sma.
ALLO started ticking lower again v slow, I added.
Freak volume candle spiked us lower. Spread got very wide. No reason to change stop yet.
Very odd tape action here but I guess I shouldnt be surprised cause of super low volume. Every tick we get lower, seems like a quick flood of sellers comes in with limit orders to catch it, then they disappear. If we can get another flush lower under last spike low, stop will change to pa above whole number, for a small red trade. Enough time has passed + market weakness, we should go.
A problem with this trade is 48.50, PT is 48 but .50 is weekly POC. Not changing anything and its a very very tight range with POC + value area. Will have to judge tape.
We did make new low and SPY trying to make new LOD. ALLO finding some buying just under POC. If we can lose this area though, should be a fantastic flush.
Market internals continually getting weaker, SPY just lost LOD.
SPY still flushing lower, bids just dropped out from .40 to LOD so expecting it soon.
Stop changing to .65. prev LOD + micro range hi. Wont let this turn red.
New LOD, 48 break v shortly. Waiting.
Broke and offers stepped under right away. Will wait to take half. Bids are so thin. Very spaced out. SPY getting vertical, the wrong way.
Deciding to take half of my half. Spread is .40 cents and wanting to take off into weakness here as I have it.
SPY seeing relief and bouncing, ready to take other quarter.
under 47.30 could be really ugly as its weekly range low now. 3x LOD
Broke it, vol spike. Took off another quarter of my quarter lol into weakness. Still holding a quarter of my original take profit.
Took it as we started coming back up. Holding half original position. Will take a while to determine new stop. holding above 48 is it for now.
Found hidden buyer, broke under him. Good spot for him to show up, maybe an early exit if I see him again.
F also just realized we filled an ATR move here.
Made new LOD by a penny. Will wait. New stop to work with just under 48. Market pulling up. Taking off half here if we start ticking higher. Lots of reasons to hold above this area. Especially if we arent going to flush again after new LOD.
And stopped out on new high.
------------------------------------------------------------------
Seems to be case for re entry here. Odd candles just under 48. Maybe hidden/big seller. Watching PA.
We broke above 48 if it fails Ill get back in here.
Did not and ripped back to vwap. Good exits.
MRSN
Not on original watchlist but glanced at it and saw it had a nice scalp setup. Went for break above recent high, got skipped but filled on pb. Seemed to get stuffed again and got out before it got worse.
TSLA
Another big weak name today. Pulled back to vwap + big HTF zone and found some selling. It was making a nice rising wedge into vwap, broke out above it to the upside and found good selling. I got a starter short.
SPY at this time just had news about hong kong, seemed pretty irrelevant as PA went right back to normal a few minutes afterwards. SPY was also at vwap + 200D sma and previous LOD. Looking like its rolling over. Waiting to add
Forming a nice base here between 806.50 and 805. Will add under 805 and then rising TL will be in play
Got the add, SPY also spike higher above micro range and got rejected. RVOL .8 so we need SPY here. We will also have to lose vwap and this HTF range we in the middle of. Am also paying attention to a BA short atm.
Added more as we got some momentum lower + selling on tape.
SPY decided to rip higher above vwap and this area. TSLA slowly following it but not quite as strong. Gotta give it its room. Did reject a push lower into vwap though. Warning signs are here but no case to change anything.
Still a lot of red / selling up here.
And stopped out. Think I was too sized up here given the context of the market. Nothing was confirmed rolling over and weak yet, I was anticipating it. And with too much size.
LATE AFTERNOON
SPY just kept grinding higher. Looked for either pbs to short, or longs that presented themselves after claiming levels/areas
BA
BA reclaimed above important areas mainly yest high and vwap. It had a nice range above it to work with. We broke lower into vwap + HTF level +146 amnd I waited to see some buying. We definitely got some and started ticking higher. I got a starter and added when I saw bids come in. SPY at this time broke higher from its range and continued its uptrend. BA was now lagging but still holdign with good signs. Gotta wait.
Stopped out.
-------------------------------------------------------
Flipped bias here as now we were holding under these levels and had some off selling at whole number. And relative weakness. Got a small starter short under vwap as it was trying to get back above.
Tested above and failed again. Sellers kept stuffing it lower and stepping lower. Added more a couple of times.
Added on micro range break lower. Still seeing good selling here and SPY slowly rolling back over.
And ripped me higher.
Then SPY decided to crash a point lower.
Going to call it now before I make myself more angry. Biggest problem today was missing trades. I had a few second chances to grab a short before everything started moving but I was unable to do it. I spent too much of the morning being mad I missed some chances to get in. At least I got ALLO.
TSLA was A+ with micro range failed breakout into huge HTF with multiple variables there.
Couldve gone for SHOP scalp breakdown
Missed DOCU short same time as TSLA short, and skipped a good long late afternoon
TWLO I should have taken 15min into the day for a short.
I was focused on other stocks at the time is the 'problem.' I have to be faster. I have to click to get in the trade regardless of if I can watch it or not. Get in, set the stop, refocus back to whatever it is I was looking at. These trades were clean and clear and could have easily just gotten in on them and let it go. But because I am looking to get aggressive in the names I was watching at the time, I decided to ignore them completely and stay focused on the name I was looking at at the time. Shame.
Solution
If a stock is hitting all the checkpoints it needs to, and trading clearly above/under a HTF zone/level. I need to be in that trade. There is nothing else to wait for. The tape is for adding and getting aggressive. Not just getting a starter on a trade.
Why does this matter?
Because I missed some damn easy trades that were screaming at me to get involved from the way price was interacting with levels I am looking to trade against. Early morning weakness + big gap up + yest same case and sold off + following yest weakness. Shorts where the way to go. Instead I was looking at buying dip longs again.
I have to start considering time of day in my trades as well. With TSLA and BA late in the day, they need time to build again. Especially after the big downturn they just had. These trades I took on them I expected them to be one done and gone never to return. But I forget that those kind of moves just dont happen more often than not later in the day. BA ended up being a great long after it based out for a while, then did exactly what it did the 1st time I went long.
Its fine I take losses its part of the game. But context and risk matters most depending on time of day. I dont need to be risking 80$ on BA or TSLA in the middle of the afternoon when they have only just started showing signs in favor of my bias.
Goals for tomorrow
1. Stay aggro
2. Consider time of day when trading in afternoon. Stocks need time to build. They are rarely one and done.
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