5/29 DRC

Looking like were topping out pretty good in the markets. Slowly getting more weak as we keep attempting higher so expecting some shorts to play out.

Lots of names today. Some big gappers out there, lots of earnings. Shorts and longs.

Problem yesterday was not staying for the bigger moves and not getting back in.

Goals today are to fix that problem. If it is holding the level I want it to hold, I need in.

ROKU



Strong open pop above HTF level. Retraced to it and vwap and held multiple times. Saw buyers stepping up and got a starter. Not super tight risk but knew I needed to be in after buying signs.

Broke new HOD. not a great entry and risk a bit skewed. New HOD got rejected hard so moving stop tighter.

Big buyer showed up right at my entry and held for a moment, but ultimately failed and I stopped out. Tiny L.

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Still above HTF level I want to see it above. Tape very slow under vwap but not seeing any reasons to get back in yet. Buying is not really here.

We started popping higher again, so I got a super small re entry on.

Just cant seem to find it, stopped out again. Still not breaking LOD yet, but now starting to be unable to hold above this level and vwap.

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Going to go for short if it breaks down from this range. SPY was ripping up and ROKU saw no strength. Probably a lot of trapped longs in here if we can bust lower.

Got in, tried to add, didnt get my add. Good breakdown and broke 110 but got bought up pretty quick. Took partial. Will see how long it can go if it wants.

And stopped last bit before break even. Small win. Made money back.

GAN





Random hot IPO stock I found and tracked. Today had strong open, retraced to vwap + yest HOD at 20 and held it. Coiled around it for some time, not really making a move one way or the other but holding above. Waiting for retest of 20 before deciding to get in.

Finally made a break lower into 20 where we had a decent sized buyer. Waiting to see if hes real and refreshing.

Broke him into more buyers. SPY lost LOD with volume. Doesnt seem to be an entry here.

We reclaimed 20 and saw a huge buyer step in. I got in in front. Same time there seemed to be a hidden seller just above 20 we couldnt get above. Risk is tight.

Couldnt hold it, stopped out after it broke.

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Battle on the tape here. Sellers unable to push it lower under vwap, reclaimed back above and the 10. But still a lot of odd selling. Cant tell if natural or refreshing higher.

Big bid showed up again above 20. Left before I could see if hes real.

Got in in front of him on pb to level. Stop just under/.

Broke him again and out. Slippage killed me.

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Someones playing games out here. Gotta be a refresh seller he keeps moving his order all over the place.

Im getting a short going. Very clear stop level to work with. Everything holding under 20 now. Seller also stepping lower. Sure hell move it higher again though.

Got my fill. And now we have a big bid showing up.

TL from HOD in play and price is just underneath it.

We broke big bid. Added more.

Pulled up again to .90. Sellers still here. Defending this TL.

ADded again as we saw sellers absorb a good amount of buying. Getting super tight here under vwap. Needs to make a move here soon. Spread getting super wide, bids dropping. Looking to cover risk on a flush lower here. .69 number to beat.

Seller stepping lower.

Huge sell took place at .50, didnt drop. Now it did, seller still here stepping lower.

Seller is refreshing, taking any bid he can see it seems.

Any seller that steps in front of him, he dont care he wants to be 1st in line.

There are some big bids coming up. Going to take half off wen this seller is gone.

He seems gone. I cant tell. As far as I saw no big orders went through.

Nope there he is. Big bid at .30 taken right to whole number

Seller still here now at .30 he breaks I need to take some off the table now.

There is also a big sell at .50 waiting. We shall see.

Bid stepped up and took him. Out majority down here. Will hold original entry as core and see If I can get some adds going.

Big seller showed up again. Waiting to see if hes real. at .43 And hes stepping down. Someone took him. Waiting to see, yes hes refreshing.

Adding risk back on. Just some not all.

Someone too him again. We retraced back to HOD trendline. Will be my stop around here.

Look who showed up again. Stepping lower. Stop is just above that last spike high.

Stepping lower trying to get a good fill. No add yet. Sellers are here again and stepping lower in front of each other. Everyone wants a piece.

19 is a big level to lose. Not only LOD x2 but yesterday had a good zone to trade off of down to 18.84. Will see.

I am moving stop up to protect profits here. We saw all these sellers but havent dropped anything yet. Got the TL to work with and I was able to spot more big sellers stacking on each other mid .50s

Doesnt matter dropped lower anyways.

Trying to step in front of sell and get more. 98 shares filled of 100. Sellers here and stacking again. Looking for 19 dump to take half again.

Stop just above .50. Would be breaking TL and above pivot high we last saw big sellers. Some big bids showing up just above 19. We shall see.

Sellers seem gone for the moment, pulling back to TL.

Hidden seller at .40 and some just above him. Stop is in good spot. Dont want to add more risk just yet. TL is next candle over and in play. Will wait.

We didnt make a new low and vol dried up along with sellers. I am changing my stop to a break of this hidden seller. Should tkae profits as I can after seeing warning signs. Will look to get back in right away if broken. But stock hasnt revisited vwap in a while and may need a break. This is only notable seller ive seen in the past several minutes. Good spot to get out.

TL in play and holding under with seller. Broke him and im out.

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Left the desk for a quick break. Came back saw we stuffed from vwap and huge sell was following price lower. Missed my chance. Pissed.

So odd, he took his order off. Was not filled. Will look for chances higher up again.

Getting tiny size back in. Selling still here, hidden sellers still here. Not good place for entry. Regardless looks to go lower. Want to make sure I can still have a peice. Plan is to put most risk on higher under vwap still around .80.

Went sideways for several minutes, dead volume. We stepped lower, seller showed up again. Added.

Was showing 5k, order hit tape for 20k and hes gone. Sellers still at .50 now though. Stop is moved up to recent range high at  .65

Added again as he stepped lower.

Just found out I actually didnt get that original add and took a position on MRSN on accident. Tiny loss there, but sucks.

Broke our range low by a penny and our seller got taken out. TL from HOD in play here again.

TL broke higher, and seller showed up again. Waiting for ticks lower to add more.

So dead right now. Can only rely on tape, again failing a break higher, kinda got a mini triangle going here. Waiting for moves one way or the other. Wanting to tighten my stop but Ill give it space for the moment, If we start going lower, will move it to mid .50s

Big bid stepping up. Stop tightened. Dropped. Big sell at .50 big buy at .40 waiting on one or the other to do something.

Buyers took him out but now hes hidden size, still there. Bottom TL from LOD in play now.

Broke him and stopped out. Will try again higher, or might have monster short squeeze.

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We did get that monster short pop. .50cents in a flash. Got to 20 again and saw a lot of buying, but a whole lot of absorption. Wasnt going any higher above .10. Need to be patient still, but feels like short is still on.

Lots of volume, not going anywhere. Tape has been nothing but buying.

MRSN




Held lower all day, made a giant triangle and broke higher from it into vwap + 21. Yest low at 20.74 so i was watching for shorts here.

It broke higher and saw no buying, started seeing selling come in and bigger offers show up. Got a starter. Added with momentum, sellers wanted in.

Came up to levels again, still saw selling. Added more. 10 star trade, I want to get big but need to see some serious tape action.

Taking a while to do anything here. Needs to lose .75 and were bid up right on it.

Volume very low. I think these are warning signs.

Problems. Were holding under intraday range high and vwap + whole number, but were now tightly holding above yest HOD HTF level. What do. Tape is telling me to hold. Just had a rush of buys, but didnt budge.

Buying came in and mini vol ramp back up to vwap. Im getting out on any more momentum higher. Feels like a short squeeze coming.

And out early as it ramped up again. Could be wrong. Will wait til its clear.

Am going for short squeeze above this.

Got in and added on tape cues. Big sell showed up, took him out, but no luck. Stopped out.


ABIO



Another huge gap stock from yesterday. Was weak all day and holding above pmkt lows, refused to drop it. Had TL from HOD come into play and we just kepy getting tighter and tighter fianlly making a move higher awith a vol kick.

I got in starter on the range break and big bid was there under us. Looking to get in back to vwap. If it wants to be a late day squeeze runner like this market has een in the past, this is a good candidate.

Added as we broke a decent sized offer + new micro range hi.

SPY broke LOD and snapped lower, spiked right back up. ABIO found some more buying, tried to add more didnt get filled yet. Mustve been a news release. Got the add.

Also in contact with TL from the open / HOD. Vol is increasing here. Above .94 gives us new range high in last hour and a half. Stop the same.

SPY ripping higher, ABIO no reaction. Still up overall, starting to see some selling. .60 was last mini range high + we have bid here. If we hold under better get out. Should be popping off here.

Big offer just showed up at .80 we took him out. 

Decent bid flashed order, took it right off. Wouldnt mind adding more if I see it. Changing stop to under .60 I am kinda big here, just last last time, seeing warning signs, we should be going.

Little bit of selling coming in and last bid dropped into new. Stop definitely needs to be here.

Vol died. Just waiting. Could be considered a low vol pb. 

Some decent sized buys came in. Buyers bidding up, stepping up. Big bid stepped up. Added more.

Not sure if im being played with here. 2nd time ive seen him step in, then remove right away.

TL is broken and weve seen signs. No bids stepping up, still just sitting mid .60s Stop the same. Again, needs to go now. Want above 13 to take off to cover risk.

.90 for new pivot high. Decent offers here too, but now weve stepped up. Juuuuuuuuuuust waiting.

Getting tighter into .90. Hes only 5k so nothing major. Took half of him. Well see what 13 looks like, right now showing 4k.

Got him, now range high.  Got him, now 13. About 10k stacked up here, buying coming in, vol increasing. Popped right to vwap.

Covering 1/3 for risk. Pretty big for me on this name.

Bids are here and coming in, but selling is getting aggro.

Have to be ok with risk here. Still good signs, bids still here. Doesnt need to be a loss though since PT was hit so will have to deal with breakeven trade. Should not get there though.

Put stop at .75, ticked it to the penny on the pb. Only way getting back in is on tape cues. Selling was a lot up there and here. Didnt hold above any of those levels.

God damn, big bid shows up right at .75 still waiting.

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Crept its wat back up again. Offers got huge the closer we got to vwap. Buying is still here. Waiting again for something better.


REGN

Some od the oddest PA ive ever seen. Big range to work with, very strong name. Broke HTF zone once before and had big upmove. Setting up the exact same way again, all above important levels. Going for scalp above range.

Nice candle, nice buying, not much volume. Waiting.

Just dumped back on me. Had great looking bids, Lost a point on exit. small win.

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FOMO getting the better of me. Im going for an LT trade now. It pbs and hit 584 and held to a T. Bids keep getting bigger and stepping up, im getting involved. Save max risk for best entry so only a peice at the moment.

RVOL and volume increasing. Bids still big. Waiting for deeper pb for bigger size. Already at 50$ to start. Maybe started too big.

News came out. Spiked SPY up, REGN reacted.

Got to HOD, volume increasing.

Made new HOD + broke 589. Took half, we saw selling up here.  Still wanting to add lower. Nice channel is running.

Kept going but stopped out on new pivot low. Want back in better entry better RR once it can give me it.

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Excellent spot for re entry at 586.50. High volume area, TL and pivot low all in one tight area. Low volume pb currently too.

Sellers outweigh this time. Have to see it.

Took out some offers and ticked up, got starter again. Tight R.

Saw exactly what I needed to. Bids came back in started moving us higher. Added more.

Im somewhat big here, risking about 100. But 10 star and gave me everything I needed to see. SPY still strong for the moment and we got good cues to keep moving higher. Above 592.50 would be a huge D breakout from years ago. Current HOD is 590.40 and is also PT to take half.

Risking 2 pts, so 2pts in favor I need to change stop. Great start to trade, ramping up candle with col bump again. Must wait and deal.

ALSO need to keep in mind I am outsized more than I usually do. DOes that mean I need to cut risk quicker to prevent larger losses?

I think with what ive seen so far, we have a great start to the trade, theres no reason it should come back to entry and then some. But obviously markets dont move in straight lines. We trade the markets we are in, but also have to manage ourselves. I do not need to take a 100$ loss at this point. If trade makes it back to entry I will cut trade in half.

Theres 590 all out under entry now.

Bids still big and stepping up. Just under new HOD now. Last we were up here we saw good selling. Wondering if the same this time.

Yes and no. Climbed its way up another point but when the sell did come, it was quick,

SPY started selling off aggressively and REGN followed. Out rest be.

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Domt know what the hell happened I had to leave the desk, but we just blew up everything.

MRSN



Blew up later in the day. Couldve found a long earlier on. Squeezed real hard and got a reversal off it. I got pretty big on it and kinda got shaken out, at same time, was not acting right and took a small win on it.

GAN



Another reversal. Solid PA. Solid tape. Took what I could.



Today was CRAZY. Just like last friday, stayed at desk all day as there was always something to watch. Action out here was incredible. Just crazy moves + news all day. Was fun. Took a ton of small wins today and they built up pretty good. Traded what I saw well, sized up well. Took advantage of what I could, put the trades on today. No regrets. Will spend most of review time on monthly.

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