5/28 DRC
A lot to do today. Tons of names moving so keeping an eye on a lot. Air/cruise liners in play for sure, but unhappy with how they traded yesterday so im not thrilled with there setups for today. Ill keep an eye out if they clean up a little, but they are not the main focus today.
SPY seems to have faked out all the shorts again here and now were gapping higher again out of this 2 day range. Bulls still winning so best trades more than likely on the long side. I do have some shorts as well.
Big collection of TA trades, most looking long from failed moves lower, some gaps, some ATH pushes, some Earnings plays. None looking great premarket for a trade right at the bell so will have to let dust settle before any trades go off.
Yesterdays problem was trying to treat late afternoon trades like they should be one and done and never return. Must remember later in day means less traders means more consolidation before I should expect a move.
Also I was taking trades at non significant levels long, during a market dump. Not high probability.
Goals for today.
1. Stay aggro
2. Give trades later in day time/space to work with. Best work right away but important to give stock time to build.
3. Dont fight the market if its clearly trending one way. Take the trades that direction.
DG
Weak SPY open, DG held on and came past vwap lower into yest HOD. saw a lot of selling but it was all absorbed, price wouldnt drop. Small size starter as its not quite where I want to get size on.
Ended up slowly making a new low anyways. Stopped tiny loss.
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Later in day it made new HOD and lost it went straight to LOD and big buy zone + prev ath. It busted through with v little volume and I waited for tape. Bids stepped up and I got starter.
Added as we ticked higher. SPY coiling no direction.
Came so close to PT and just dumped on me straight back to entry. Stopped out under whole number small L.
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After last stop out, nothing happened. It went sideways for a while and we had a TL in ply from HOD. I saw a huge buy com across and we broke TL to the uspide. Got back in small size.
Nothing afterwards stopped out new LOD.
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After it broke TL to the upside, again 0 vol. Dead. It put in a new range and broke above it, again nothing. I got short. After all this failure to the upside, it was just barely hanging on above prev ATH and pmkt lo. SPY also made new HOD and then dumped a point lower back to vwap.
After a couple minutes it started ticking lower. I added.
Slowly grinding lower. Feels like the name is ready to pop one way or the other.
Broke micro range low. Stop moving lower. Should be going.
Came right to LOD, tapped it, didnt break.
Ripped back to my entry. Almost stopped me out. Absolutely no reason to lose money on this trade at this point. Should have gone a long time ago,
Alright new LOD. And took out some big bids. Covered 1/4 on new tick higher, other quarter on new 1min high. Letting rest ride. Stop is breakeven still. Decent TL to work with.
Stopped out as it broke micro range high.
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BIG squeeze ripped it up a couple points, now the long is back on again. Tape looked great on initial push higher there were big bids and buys coming in. Waiting for better entry.
Came down to whole number 185 + top of HTF zone and was dead vol again. Waited for something to come in and we got back above so small starter.
Added once we got more buying again.
Came close to stoploss, but was able to absorb selliong again. Tape is not clear at the moment but do have good range to work with for more adds. Same for getting out. Risk is not on that high yet but will be if I see it.
SPY new HOD trying hard.
Came to stop, tested a tick under it and saw nothing. Came back up to whole number and got above and I added. SPY new HOD.
Added as we finally broke range and saw a good chunk of buying come in. Im as big as I want to be, needs to go now all signs point higher. If it cant ill cut sooner than later.
Broke into a new micro range, unable to get above .14 and unable to get under whole number again. Have to hold either way but if it doesnt quickly reclaim 185 im out.
And it broke lower and sellers came in. Hate this name today. Out.
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To make things a little more difficult for myself. As it was dumping, saw a huge seller show up. Tried to get in in front of him and did, except As I got in, he got taken out. Immediately down 3R. Luckily able to hold on as it slowly came back to entry and got out for regular -1R
Cant tell now if hes still there, waiting for 184.50 to come back into play. I think hes hidden size.
Could tell, couldnt get a clean read. Made new LOD.
REGN
Strong open, relative strength. Retraced back to vwap + HTF zone and had good buyers. Selling was here but same as DG, was absorbed.
Bids here and stepped up, added.
Couldnt hold stopped out again.
UNH
At ATH. Relative strength held strong all while SPY was weak. Then SPY reclaimed vwap and started uptrending with volume. UNH broke out HOD after a failure. Had tape signs and added. Just didnt go.
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Made a giant base with top end at 308.50. Went for scalp on break above was 9/10. Didnt go.
MSFT
Coiling around the 50% retrace and just under prev day HOD for sometime now, relative strength for sure here. I couldnt get the price I wanted but with it acting the way it was I knew I had to at least get soemthing down.
It was holding above vwap with vlow volume on its last attempt under it so I went with the early entry.
Added as it started getting momentum pushing higher along with SPY.
Added again as it broke TL.
Odd selling going on at whole number. I decided to take an early W and get back in if we broke above. He was hidden and absorbing a lot.
Broke and got back in just above. SPY also trending higher. Big vol increase. Waiting for HOD to take.
SPY new HOD again. Last time it did, it failed and dumped hard. On alert.
Came right to a penny short of new HOD and turned all the way against me. Out break even.
WORK
Strong name all day. Finally broke its range high after a huge breakout. Made a nice baseline just above the range high. It broke lower and got bid up right away. Starter as it popped up.
Big offer showed up, we took him out and I added. SPY also ripping higher.
Stopped me out and fucked me good. 10 cents of slippage.
ROKU
Reversal. Just didnt go for me.
DG was just annoying all day. Got a lot of reads on it but apparently all but 1 were actually good reads.
MSFT had one more shot for re entry on a failed breakdown at vwap and didnt go for it.
REGN was the big miss. Absolutely should have gotten back in once it slowly started reclaiming yest hod after my exit. Never dropped further and ripped right back up and held it. Didnt do it.
WORK bad slippage but also shouldnt have gotten in as I wanted to see a failed breakdown first.
Today just speaks more to the fact my biggest problem isnt the trades im taking, but its the ones im not taking. My risk management is fine, it obviously sucks to see me stop out, then it comes right back in my favor and then goes. My problem is not holding on to trades too short, its not getting in, or getting back in once it reproves itself.
Last day of the month tomorrow. Will focus on that.
SPY seems to have faked out all the shorts again here and now were gapping higher again out of this 2 day range. Bulls still winning so best trades more than likely on the long side. I do have some shorts as well.
Big collection of TA trades, most looking long from failed moves lower, some gaps, some ATH pushes, some Earnings plays. None looking great premarket for a trade right at the bell so will have to let dust settle before any trades go off.
Yesterdays problem was trying to treat late afternoon trades like they should be one and done and never return. Must remember later in day means less traders means more consolidation before I should expect a move.
Also I was taking trades at non significant levels long, during a market dump. Not high probability.
Goals for today.
1. Stay aggro
2. Give trades later in day time/space to work with. Best work right away but important to give stock time to build.
3. Dont fight the market if its clearly trending one way. Take the trades that direction.
DG
Weak SPY open, DG held on and came past vwap lower into yest HOD. saw a lot of selling but it was all absorbed, price wouldnt drop. Small size starter as its not quite where I want to get size on.
Ended up slowly making a new low anyways. Stopped tiny loss.
---------------------------------------------------------------------
Later in day it made new HOD and lost it went straight to LOD and big buy zone + prev ath. It busted through with v little volume and I waited for tape. Bids stepped up and I got starter.
Added as we ticked higher. SPY coiling no direction.
Came so close to PT and just dumped on me straight back to entry. Stopped out under whole number small L.
------------------------------------------------------------
After last stop out, nothing happened. It went sideways for a while and we had a TL in ply from HOD. I saw a huge buy com across and we broke TL to the uspide. Got back in small size.
Nothing afterwards stopped out new LOD.
--------------------------------------------------------------------
After it broke TL to the upside, again 0 vol. Dead. It put in a new range and broke above it, again nothing. I got short. After all this failure to the upside, it was just barely hanging on above prev ATH and pmkt lo. SPY also made new HOD and then dumped a point lower back to vwap.
After a couple minutes it started ticking lower. I added.
Slowly grinding lower. Feels like the name is ready to pop one way or the other.
Broke micro range low. Stop moving lower. Should be going.
Came right to LOD, tapped it, didnt break.
Ripped back to my entry. Almost stopped me out. Absolutely no reason to lose money on this trade at this point. Should have gone a long time ago,
Alright new LOD. And took out some big bids. Covered 1/4 on new tick higher, other quarter on new 1min high. Letting rest ride. Stop is breakeven still. Decent TL to work with.
Stopped out as it broke micro range high.
-----------------------------------------------------------------
BIG squeeze ripped it up a couple points, now the long is back on again. Tape looked great on initial push higher there were big bids and buys coming in. Waiting for better entry.
Came down to whole number 185 + top of HTF zone and was dead vol again. Waited for something to come in and we got back above so small starter.
Added once we got more buying again.
Came close to stoploss, but was able to absorb selliong again. Tape is not clear at the moment but do have good range to work with for more adds. Same for getting out. Risk is not on that high yet but will be if I see it.
SPY new HOD trying hard.
Came to stop, tested a tick under it and saw nothing. Came back up to whole number and got above and I added. SPY new HOD.
Added as we finally broke range and saw a good chunk of buying come in. Im as big as I want to be, needs to go now all signs point higher. If it cant ill cut sooner than later.
Broke into a new micro range, unable to get above .14 and unable to get under whole number again. Have to hold either way but if it doesnt quickly reclaim 185 im out.
And it broke lower and sellers came in. Hate this name today. Out.
---------------------------------------------------------------
To make things a little more difficult for myself. As it was dumping, saw a huge seller show up. Tried to get in in front of him and did, except As I got in, he got taken out. Immediately down 3R. Luckily able to hold on as it slowly came back to entry and got out for regular -1R
Cant tell now if hes still there, waiting for 184.50 to come back into play. I think hes hidden size.
Could tell, couldnt get a clean read. Made new LOD.
REGN
Strong open, relative strength. Retraced back to vwap + HTF zone and had good buyers. Selling was here but same as DG, was absorbed.
Bids here and stepped up, added.
Couldnt hold stopped out again.
UNH
At ATH. Relative strength held strong all while SPY was weak. Then SPY reclaimed vwap and started uptrending with volume. UNH broke out HOD after a failure. Had tape signs and added. Just didnt go.
--------------------------------------------------
Made a giant base with top end at 308.50. Went for scalp on break above was 9/10. Didnt go.
MSFT
Coiling around the 50% retrace and just under prev day HOD for sometime now, relative strength for sure here. I couldnt get the price I wanted but with it acting the way it was I knew I had to at least get soemthing down.
It was holding above vwap with vlow volume on its last attempt under it so I went with the early entry.
Added as it started getting momentum pushing higher along with SPY.
Added again as it broke TL.
Odd selling going on at whole number. I decided to take an early W and get back in if we broke above. He was hidden and absorbing a lot.
Broke and got back in just above. SPY also trending higher. Big vol increase. Waiting for HOD to take.
SPY new HOD again. Last time it did, it failed and dumped hard. On alert.
Came right to a penny short of new HOD and turned all the way against me. Out break even.
WORK
Strong name all day. Finally broke its range high after a huge breakout. Made a nice baseline just above the range high. It broke lower and got bid up right away. Starter as it popped up.
Big offer showed up, we took him out and I added. SPY also ripping higher.
Stopped me out and fucked me good. 10 cents of slippage.
ROKU
Reversal. Just didnt go for me.
DG was just annoying all day. Got a lot of reads on it but apparently all but 1 were actually good reads.
MSFT had one more shot for re entry on a failed breakdown at vwap and didnt go for it.
REGN was the big miss. Absolutely should have gotten back in once it slowly started reclaiming yest hod after my exit. Never dropped further and ripped right back up and held it. Didnt do it.
WORK bad slippage but also shouldnt have gotten in as I wanted to see a failed breakdown first.
Today just speaks more to the fact my biggest problem isnt the trades im taking, but its the ones im not taking. My risk management is fine, it obviously sucks to see me stop out, then it comes right back in my favor and then goes. My problem is not holding on to trades too short, its not getting in, or getting back in once it reproves itself.
Last day of the month tomorrow. Will focus on that.
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