6/19 DRC
Taking it slow and easy today. No rush. I have to leave the desk an hour into today so if im down or dont have any trades, there is no reasons to force anything. Come back later and trade the right way, if theres anything left.
Yesterday was pretty slow, tight range in SPY all day, not much moving. Were gapping up a bit today, might see a little more upside, maybe a trend day going into the weekend. If we fail here today though, it looks like we might want to retest those lows we made on monday and build value lower. Dont think we would get there today but I do see both sides playing out today. Short side more aggressive.
Goals
1. Dont force anything. If im not meant to trade, dont trade
2. Stay aggressive on best setups.
3. Follow PT rules. Take tiny size off to cover risk if size is big.
CRWD
Weak market for the open, CRWD was hovering above prev hod and saw a lot of buying. Took out a big offer and thats when I got a starter. Flushed on me though and got out small loss.
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Later got back above vwap but not new HOD. SPY selling off helped it come back down to HTF level where im looking for re entry.
TWLO
Weak on the day, coiled under prev hod and made nice triangle. All volume cues supported downside.
Came up to retest vwap + htf + TL and saw sellers stuffing price lower and got a starter. SPY at the time was weak, but once SPY started turning back up, TWLO found some buying and I got out.
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Broke higher from triangle on super low vol and holding between ATH and prev hod + vwap. Nice tight range waiting for failed break one way or tape cues.
SPY getting worse making new LOD, TWLO still holding above. I see no tape cues or reasons for entry yet.
IQ
Much later in day IQ was selling off everything it had gained in a slow steady downt trend. It had come to 25 also prev day high and finally stopped and went sideways for first time in an hour and a half.
The most recent attempt at a new low failed to reach 25 and had low vol. Saw good bids and got a starter as it kicked up. Added once it kept going, and added again on range. break.
SPY during this is super weak and dropping pretty fast. So seeing some relative strength here is good, but need to keep in mind market is not helping.
Because it had such a strong move off the open, VWAP is super far away at 25.75. I think im going ot look at half this whole move for PT.
And then I got smacked. Plowed right through 25 not even a second to react. Had to bail.
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After entry saw a lot of buying, bringing it right back to 25 and broke above a hidden refresh seller. I got back in as we made new micro range high.
Stopped out too.
SPY
Tried some reversals during the dump. Good setups, couldnt pop higher for me.
UONE
Finally got a shot to trade this. Sold off all day and got big short squeeze back above HTF levels and ATH. Pbd on v low vol into TL and HTF and I got a starter as we broke some levels.
Saw some buying come in and had super tight risk to work with, got a starter and SPY was turning up. Couldnt hold, maybe got out on noise, but we broke lower anyways and got out. Didnt flush though and still held, looking ot get back in.
Big bids showed up and we broke offer so got back in again.
Broke under big bid, stop is in. Still dead low volume here. Doesnt matter stopped out.
VNET
Another reversal. Lots of strength in a weak market. Super over extended. Watched in for 15 or so minutes and finally saw some selling come in. Lots of big bids the whole way up. Waiting for a trigger.
And finally got it after it broke 18. Was quick but got in and added. Quick flash dump, no chance to take any off on it though. Just waiting for selling to play out if it can continue. Good entry.
Came back to entry and then some with bids still there, gave it a second to see, and offers stepped it back down lower. Stop is above breakeven for now.
Slow trader so have to give it a moment, but already losing patience.
Made its way a bit lower again, looking to take off that add on a break under that spike low we just made. Stop is now breakeven. Needs to go, no reason for it to come back. Especially need to get out if bids show up again.
And they did, and price came back up. Tiny loss. Great potential though.
BA
News about cruise came out and these names were already getting killed. BA had now failed to get under prev lod 3 times and kept getting back above it. I saw big bids at .50 show up and re appear each time so once it broke, reclaimed I was back in. Then a flood of buying came in and I added more.
Market is trying to find some footing to hold on and retrace. Internals are split Cruise and air not helping. Stopped out.
VTR
Another reversal. Got me good, clipped me in stuffed right back under.
Tried again later and got what I needed. Excellent pop and was lagging behind all the other pull ups so there was a lot of room to catch up. Ran into first sign of R at the 50sma and stalled where I took majority off. Letting rest go.
UONE
In again, had big squeeze bringing it back above ATH. And held with big bids. Dropped lower, found more and reclaimed 40. Got a starter and added as we ticked higher. Buying is great so far, but needs to find more at higher prices. Seems like we have a refresh on offer at 40 but we keep taking him out.
And couldnt hold it stopped out.
Cant get away from this name. Bids are here and not going away, they keep coming back every dip. Trying again.
SPY also ripping higher. And didnt mention this pb has had super low volume. Just waiting for a turn it looks like.
Came down to 39 and bids gone again. If i get stopped I just need to stay away from this. Market is strong and holding on moving higher.
And stopped
Yesterday was pretty slow, tight range in SPY all day, not much moving. Were gapping up a bit today, might see a little more upside, maybe a trend day going into the weekend. If we fail here today though, it looks like we might want to retest those lows we made on monday and build value lower. Dont think we would get there today but I do see both sides playing out today. Short side more aggressive.
Goals
1. Dont force anything. If im not meant to trade, dont trade
2. Stay aggressive on best setups.
3. Follow PT rules. Take tiny size off to cover risk if size is big.
CRWD
Weak market for the open, CRWD was hovering above prev hod and saw a lot of buying. Took out a big offer and thats when I got a starter. Flushed on me though and got out small loss.
-----------------------------------------------
Later got back above vwap but not new HOD. SPY selling off helped it come back down to HTF level where im looking for re entry.
TWLO
Weak on the day, coiled under prev hod and made nice triangle. All volume cues supported downside.
Came up to retest vwap + htf + TL and saw sellers stuffing price lower and got a starter. SPY at the time was weak, but once SPY started turning back up, TWLO found some buying and I got out.
-------------------------------------------------------
Broke higher from triangle on super low vol and holding between ATH and prev hod + vwap. Nice tight range waiting for failed break one way or tape cues.
SPY getting worse making new LOD, TWLO still holding above. I see no tape cues or reasons for entry yet.
IQ
Much later in day IQ was selling off everything it had gained in a slow steady downt trend. It had come to 25 also prev day high and finally stopped and went sideways for first time in an hour and a half.
The most recent attempt at a new low failed to reach 25 and had low vol. Saw good bids and got a starter as it kicked up. Added once it kept going, and added again on range. break.
SPY during this is super weak and dropping pretty fast. So seeing some relative strength here is good, but need to keep in mind market is not helping.
Because it had such a strong move off the open, VWAP is super far away at 25.75. I think im going ot look at half this whole move for PT.
And then I got smacked. Plowed right through 25 not even a second to react. Had to bail.
-------------------------------------------
After entry saw a lot of buying, bringing it right back to 25 and broke above a hidden refresh seller. I got back in as we made new micro range high.
Stopped out too.
SPY
Tried some reversals during the dump. Good setups, couldnt pop higher for me.
UONE
Finally got a shot to trade this. Sold off all day and got big short squeeze back above HTF levels and ATH. Pbd on v low vol into TL and HTF and I got a starter as we broke some levels.
Saw some buying come in and had super tight risk to work with, got a starter and SPY was turning up. Couldnt hold, maybe got out on noise, but we broke lower anyways and got out. Didnt flush though and still held, looking ot get back in.
Big bids showed up and we broke offer so got back in again.
Broke under big bid, stop is in. Still dead low volume here. Doesnt matter stopped out.
VNET
Another reversal. Lots of strength in a weak market. Super over extended. Watched in for 15 or so minutes and finally saw some selling come in. Lots of big bids the whole way up. Waiting for a trigger.
And finally got it after it broke 18. Was quick but got in and added. Quick flash dump, no chance to take any off on it though. Just waiting for selling to play out if it can continue. Good entry.
Came back to entry and then some with bids still there, gave it a second to see, and offers stepped it back down lower. Stop is above breakeven for now.
Slow trader so have to give it a moment, but already losing patience.
Made its way a bit lower again, looking to take off that add on a break under that spike low we just made. Stop is now breakeven. Needs to go, no reason for it to come back. Especially need to get out if bids show up again.
And they did, and price came back up. Tiny loss. Great potential though.
BA
News about cruise came out and these names were already getting killed. BA had now failed to get under prev lod 3 times and kept getting back above it. I saw big bids at .50 show up and re appear each time so once it broke, reclaimed I was back in. Then a flood of buying came in and I added more.
Market is trying to find some footing to hold on and retrace. Internals are split Cruise and air not helping. Stopped out.
VTR
Another reversal. Got me good, clipped me in stuffed right back under.
Tried again later and got what I needed. Excellent pop and was lagging behind all the other pull ups so there was a lot of room to catch up. Ran into first sign of R at the 50sma and stalled where I took majority off. Letting rest go.
UONE
In again, had big squeeze bringing it back above ATH. And held with big bids. Dropped lower, found more and reclaimed 40. Got a starter and added as we ticked higher. Buying is great so far, but needs to find more at higher prices. Seems like we have a refresh on offer at 40 but we keep taking him out.
And couldnt hold it stopped out.
Cant get away from this name. Bids are here and not going away, they keep coming back every dip. Trying again.
SPY also ripping higher. And didnt mention this pb has had super low volume. Just waiting for a turn it looks like.
Came down to 39 and bids gone again. If i get stopped I just need to stay away from this. Market is strong and holding on moving higher.
And stopped
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