6/12 DRC
Last day of the week, had out big flush finally yesterday, looking for continuation from it. Lots of shorts planned, not any longs. Currently premarket we are bouncing hard. If it was to turn into a buy the dip long day, Ill need some of these names to come down into levels I want to see hold. I do not have many other than prev lod because yesterdays moves were so big.
Short ideas are good, just need to see it come through. Long ideas are going to air/cruise again. They are bouncing real hard already going to be gapping above prev hod. Will look for pb buys there to get involved.
I just want to trade well today. 100% compliance.
1. Dont take anything that isnt clear and holding with signs of strength/weakness above/below HTF levels
2. Stay adaptable, be ready to switch bias if stock shows it.
UAL
Dips got bought, Came right to yest HOD and saw good buying taken out big offers / hidden offers. Got a starter as we broke one and added as we went higher. Others added strength a lot here and helped the upmove. PT HOD looks like we can get it. Very strong start.
I did add once, it was pretty fast, maybe coudlve gotten a 3rd add, but not fast enough, risk left me very quickly.
Made new HOD, waiting to take half.
Found a lot of selling at new HOD, but slowly grinded higher.
Started getting a little para here, big buyer came in at 38.30 i will be out most under him.
1/4 size left to ride
Came back to vwap and under it, found a bounce. Seems to be sympathy with SPY.
New TL to work with from LOD excellent add spot at vwap + TL.
Odd action here, SPY is under vwap and looking weak with low vol. UAL and airlines tight above vwap with UAL looking the strongest. Never got my PB and it made a new range high break.
All just exploded higher with vol. Looks great for more upside. Waiting on pb to add still.
Stocks that are hard to buy are going higher. Came close to HOD and found a lot of selling again. This is also a D candle lo from a couple days ago. Will give it time it needs to play out. New hod ill look to exit all and recylce if i can still get that add lower.
Made new HOD and got all out on new 1min low. SPY at this time also failed to hold above vwap and was headed for LOD with volume cues.
NCLH
Strong cruise. came into play with original D breakout level and found big volume, but price not moving anymore. Double tapped HOD and failed and got back under with tape cues. Kept adding with seller as we stepped lower + sector and SPY weak and losing its uptrend/making new lows.
Just looking for a retrace back to vwap here. After this strength it would make sense to see is want to buy a pull in, but trying to capitalize on tape and location.
Failing to drop lower here and vol is steady. Needs to lose range its build or I need to exit early.
Seeing big offers just getting taken out constantly. Got out ahead early just before HOD. Ended up breaking it later.
SPY
SPY drifted lower for quite a while and came into play with 50% level from yest range. and found a lot of volume with price skipping higher. I got a starter going and ended up cutting it short. Then re entrered with same idea but gave it a chance with a lod break. Which it did, so lost twice. Bad risk management. Gave too much risk on trade that was not A+ nor at a significant HTF level.
--------------------------------------------------------------------------
Ended up getting worse and got over extended. Went for reversal trade. Didnt go.
------------------------------------------------------------------------------------
Tried again, still over extension and huge vol increase and got what I was looking for this time. Took profit when I saw 1st big level holding break 302.70. Letting 1/4 go to ride for chance for market to settle doing and retest higher.
Solid move higher, out rest under new 1min low. Internals were key with these trades.
These are the kinda of days you can find real good longs and shorts. Looking for shorts now on TL retest higher.
AAL
Market seems to have found a bottom, failed a LOD break and AAL was one that was coming into prev HOD and foudnd some huge buying. I got a starter and kept adding as we ticked up. SPY also doing the same here and internals looking strnger. Looking to take off as we get closer to VWAP. If market wants to pull up now and consolidate. We have signs for it, stop is just under breakeven.
Straight up and came to prev LOD, we saw huge buyer step in, SPY still up. Would like to see 16.50.
Im taking 1/5 off here to cover risk and take some off. I got pretty big and feeling nervous about letting this go all the way back against me. SPY seeing some downside, TICK also not making new highs.
SPY and AAL also at TL from near HOD. Makes sense to find R here given all the overall weakness. Took more off.
Low vol pb lower, same in SPY, but held that TL nicely. We did 75% of ATR so it also makes sense to see more downside. Internals not making new lows. Might see a nice pop here. If not all out early under this recent low.
And we did break higher with great buying. Looks good for original PT. Now have other major TL to deal with, it is last one. Broke it along with SPY still rising.
And got stuffed hard, now we have a disconnect here. other airlines fine and rising, AAL only one to find R at that TL and get stuffed.
SPY topping out a bit, AAL still unable to get higher out of this.
But finally does, other airlines ripping. Got to PT and dropped a bit, took half off of what I had left. Still under vwap .20cents.
At this point in the day I think its safe to expect the big moves are done, unless the stock hasnt had one yet. For now Im going to wait and chill until we see what happens after this pb back to vwap in SPY. Consolidate? Squeeze? trend lower again or higher? Time needs to tell.
Looking to exit early in AAL, did not hold above range at all, buying seems gone, SPY rotating lower again. Giving it 1 candle for low to use as new stop. Internals also cycling lower again.
Pretty much 1:1 with SPY here. Neither got to vwap yet. Volume on new test higher is v v v low.
SPY new high, just a little under vwap, Internals reaching not new highs, ADD also tight trying to make new highs. Tough decision spot, volume telling me we want lower again, buying done atm.
Getting v tight under vwap. Vol even lower lol. Stop moved up, other airlines same.
Got up to 16.50 Monster refresh seller sitting there. Other names pulling up to, might break him.
Got above and into vwap. Taking half off soon. And out half.
Big vol increase above vwap but not moving higher. Sellers def showing up. I have TL in play to work with as stop.
Broke TL and didnt see much happen. Gave me a new stop to work with though and got back above vwap. Im going to add to this on micro range break higher if we can get there. Other names strong and SPY all above vwap and held after retest.
We did have hidden refresh sellers at top end of that range and we broke lower from new TL and under vwap.
Saw big buying, other names still up and I added early. Stop is just underneath. Adding more if we go.
Big buy at 16.50 and SPY also losing vwap and headed lower. Stopped out all.
LULU
In play with earnings and coiled lower the whole time market was squeezing higher. Tried a scalp to start on range break and failed, then tried again as tape looked much better, vol increasing and buyers coming in and still failed. Took huge losses on these and used money form prev winners. Bad RM.
SHOP
Weak open coiled above prev lod for a couple hours. Broke lower as SPY was slowly trending down and came back up above. We saw good buying on the tape nothing but buys. SPY also found some vol and ticked back up that with internals not making new lows, thought we might get a turn here. Got a small starter.
Added more as we ticked up again. And again, tape got spiky internals failing to make new lows. SPY not finding it yet though and internals while not making new lows, are not making new highs.
Internals dropping, SPY accelerating lower, SHOP still holding but seeing sellers come in on offer, waiting.
Plenty of buying still. Vol is increasing, not rising, not dropping. SPY might be down with downside for the moment. Tons of volume, candles very small.
Completely wrong on the internals side of things. We dropped big bid at 723 and stopped out under.
SPY
Tried another reversal no go.
A real shame of a day. Fantastic A+ trades and then on the losers I butchered them with size. Lost way more on the losers than I usually do and cut my profits by more than half. Either way ending green and did have nice winners so that is good. Had a great read on the market early on, took trades at great locations and got good moves. Good opportunities
Problems were sizing up on trades at poor levels. Swinging for the fences on trades that 100% do not deserve it. Will focus more on problems on the weekly
Short ideas are good, just need to see it come through. Long ideas are going to air/cruise again. They are bouncing real hard already going to be gapping above prev hod. Will look for pb buys there to get involved.
I just want to trade well today. 100% compliance.
1. Dont take anything that isnt clear and holding with signs of strength/weakness above/below HTF levels
2. Stay adaptable, be ready to switch bias if stock shows it.
UAL
Dips got bought, Came right to yest HOD and saw good buying taken out big offers / hidden offers. Got a starter as we broke one and added as we went higher. Others added strength a lot here and helped the upmove. PT HOD looks like we can get it. Very strong start.
I did add once, it was pretty fast, maybe coudlve gotten a 3rd add, but not fast enough, risk left me very quickly.
Made new HOD, waiting to take half.
Found a lot of selling at new HOD, but slowly grinded higher.
Started getting a little para here, big buyer came in at 38.30 i will be out most under him.
1/4 size left to ride
Came back to vwap and under it, found a bounce. Seems to be sympathy with SPY.
New TL to work with from LOD excellent add spot at vwap + TL.
Odd action here, SPY is under vwap and looking weak with low vol. UAL and airlines tight above vwap with UAL looking the strongest. Never got my PB and it made a new range high break.
All just exploded higher with vol. Looks great for more upside. Waiting on pb to add still.
Stocks that are hard to buy are going higher. Came close to HOD and found a lot of selling again. This is also a D candle lo from a couple days ago. Will give it time it needs to play out. New hod ill look to exit all and recylce if i can still get that add lower.
Made new HOD and got all out on new 1min low. SPY at this time also failed to hold above vwap and was headed for LOD with volume cues.
NCLH
Strong cruise. came into play with original D breakout level and found big volume, but price not moving anymore. Double tapped HOD and failed and got back under with tape cues. Kept adding with seller as we stepped lower + sector and SPY weak and losing its uptrend/making new lows.
Just looking for a retrace back to vwap here. After this strength it would make sense to see is want to buy a pull in, but trying to capitalize on tape and location.
Failing to drop lower here and vol is steady. Needs to lose range its build or I need to exit early.
Seeing big offers just getting taken out constantly. Got out ahead early just before HOD. Ended up breaking it later.
SPY
SPY drifted lower for quite a while and came into play with 50% level from yest range. and found a lot of volume with price skipping higher. I got a starter going and ended up cutting it short. Then re entrered with same idea but gave it a chance with a lod break. Which it did, so lost twice. Bad risk management. Gave too much risk on trade that was not A+ nor at a significant HTF level.
--------------------------------------------------------------------------
Ended up getting worse and got over extended. Went for reversal trade. Didnt go.
------------------------------------------------------------------------------------
Tried again, still over extension and huge vol increase and got what I was looking for this time. Took profit when I saw 1st big level holding break 302.70. Letting 1/4 go to ride for chance for market to settle doing and retest higher.
Solid move higher, out rest under new 1min low. Internals were key with these trades.
These are the kinda of days you can find real good longs and shorts. Looking for shorts now on TL retest higher.
AAL
Market seems to have found a bottom, failed a LOD break and AAL was one that was coming into prev HOD and foudnd some huge buying. I got a starter and kept adding as we ticked up. SPY also doing the same here and internals looking strnger. Looking to take off as we get closer to VWAP. If market wants to pull up now and consolidate. We have signs for it, stop is just under breakeven.
Straight up and came to prev LOD, we saw huge buyer step in, SPY still up. Would like to see 16.50.
Im taking 1/5 off here to cover risk and take some off. I got pretty big and feeling nervous about letting this go all the way back against me. SPY seeing some downside, TICK also not making new highs.
SPY and AAL also at TL from near HOD. Makes sense to find R here given all the overall weakness. Took more off.
Low vol pb lower, same in SPY, but held that TL nicely. We did 75% of ATR so it also makes sense to see more downside. Internals not making new lows. Might see a nice pop here. If not all out early under this recent low.
And we did break higher with great buying. Looks good for original PT. Now have other major TL to deal with, it is last one. Broke it along with SPY still rising.
And got stuffed hard, now we have a disconnect here. other airlines fine and rising, AAL only one to find R at that TL and get stuffed.
SPY topping out a bit, AAL still unable to get higher out of this.
But finally does, other airlines ripping. Got to PT and dropped a bit, took half off of what I had left. Still under vwap .20cents.
At this point in the day I think its safe to expect the big moves are done, unless the stock hasnt had one yet. For now Im going to wait and chill until we see what happens after this pb back to vwap in SPY. Consolidate? Squeeze? trend lower again or higher? Time needs to tell.
Looking to exit early in AAL, did not hold above range at all, buying seems gone, SPY rotating lower again. Giving it 1 candle for low to use as new stop. Internals also cycling lower again.
Pretty much 1:1 with SPY here. Neither got to vwap yet. Volume on new test higher is v v v low.
SPY new high, just a little under vwap, Internals reaching not new highs, ADD also tight trying to make new highs. Tough decision spot, volume telling me we want lower again, buying done atm.
Getting v tight under vwap. Vol even lower lol. Stop moved up, other airlines same.
Got up to 16.50 Monster refresh seller sitting there. Other names pulling up to, might break him.
Got above and into vwap. Taking half off soon. And out half.
Big vol increase above vwap but not moving higher. Sellers def showing up. I have TL in play to work with as stop.
Broke TL and didnt see much happen. Gave me a new stop to work with though and got back above vwap. Im going to add to this on micro range break higher if we can get there. Other names strong and SPY all above vwap and held after retest.
We did have hidden refresh sellers at top end of that range and we broke lower from new TL and under vwap.
Saw big buying, other names still up and I added early. Stop is just underneath. Adding more if we go.
Big buy at 16.50 and SPY also losing vwap and headed lower. Stopped out all.
LULU
In play with earnings and coiled lower the whole time market was squeezing higher. Tried a scalp to start on range break and failed, then tried again as tape looked much better, vol increasing and buyers coming in and still failed. Took huge losses on these and used money form prev winners. Bad RM.
SHOP
Weak open coiled above prev lod for a couple hours. Broke lower as SPY was slowly trending down and came back up above. We saw good buying on the tape nothing but buys. SPY also found some vol and ticked back up that with internals not making new lows, thought we might get a turn here. Got a small starter.
Added more as we ticked up again. And again, tape got spiky internals failing to make new lows. SPY not finding it yet though and internals while not making new lows, are not making new highs.
Internals dropping, SPY accelerating lower, SHOP still holding but seeing sellers come in on offer, waiting.
Plenty of buying still. Vol is increasing, not rising, not dropping. SPY might be down with downside for the moment. Tons of volume, candles very small.
Completely wrong on the internals side of things. We dropped big bid at 723 and stopped out under.
SPY
Tried another reversal no go.
A real shame of a day. Fantastic A+ trades and then on the losers I butchered them with size. Lost way more on the losers than I usually do and cut my profits by more than half. Either way ending green and did have nice winners so that is good. Had a great read on the market early on, took trades at great locations and got good moves. Good opportunities
Problems were sizing up on trades at poor levels. Swinging for the fences on trades that 100% do not deserve it. Will focus more on problems on the weekly
Comments
Post a Comment