7/29 DRC
Did my charting for the day before hand after the bell yesterday. We had some crazy moves out there. Pot stocks ripping. Air/Cruise starting to curl up again. Earnings coming into play. Theres going to be a lot to look at today. Going to have to be quick yet patient. I am seeing a theme start up again. Only thing is the overall market isnt having the strength were seeing in the other names yet. Maybe this is what they mean by sector rotation.
Stayed discipline yesterday, no reason not to do the same today. Stick to what I do best and let it come to me.
1. Follow Risk plan.
2. Trade only at prev hod/lod, d bo, past zones.
3. Follow SPY
4. Avoid all trades less than 8star favorites.
5. BIG picture. Get in smaller size if 1st entry missed.
ROKU s
NIO l
PFE long / short if fail long
WKHS l
NVAX l
ALL cruise/air/pot stocks l
If the strength is there, we may see another big rip day like we did the 1st time, we retraced back to the levels we originally took off from, why not again.
SPY opening right in the middle of 3 1/2 day range. Will have to stay patient to not get caught in chop.
NVAX
Only name that had a chance to retrace to prev hod before a pop higher. Came down to it and bid came in and I got nice fill in front and we popped right to new HOD, but not to new pmkt hi. Tapped it and sold off, wasnt taking chances, took my win. Leaving small size to ride.
Regrets. NOT having big size. Spread was crazy and risk uncertain, tried to double down but no fill.
Came ALL the way back down to new LOD and got out right where I got in coincidentally. Solid trade though.
AMD
FAST mover hard to read. Failed a breakdown and reclaimed and had big bid come in and sit there. Got in in front and added a few times. We made a break straight away of TL but rejected right back and I bailed breakeven. Was really big.
Trying to find way back in if its there.
And then SPY blew up and AMD followed. Not in.
Couldve left a winner but too slow. No re entry as it crashed .50cents through vwap.
RRGB
Squeeze name. Had strong open and came back to vwap + htf and still bids and strength here. We stepped up and I got in and added once we stepped again.
Stepped up again and big bid came in and added. Its fav and 10star so uncomfortably big right now. Risk is tight but tape looks great.
Very slow name so gotta chill.
Other squeezers are squeezing so the theme is here.
HOD is target at 9.18, big D breakout at 9.25, would be nice to see with size.
Avg price is 8.99 so we have vwap and whole number as great spot for stop out.
Lots of big orders coming through, but seem to be absorbing well. Bids still stacked.
Drifted its way back to vwap / breakeven. Waiting to see action if I get out or not.
Started seeing the sell come in, there was bid that I could get all out at and I took it. Re entry is possible.
Was good exit, got worse.
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Later in day reclaimed the level and vwap. Looking for the long again. Market still up and strong.
Big orders came in, cant tell if buy or sell, would assume buys. Price is at vwap, I want to see a test under this into HTF level for best entry.
Broke down into it and big ish bid. Big buy came through, but seller must be hiding size because we did not break up.
Gout our tick up and I got in. Small risk. 10 star and fav. Everything in favor, need to be big.
And we popped higher quickly and added. Pretty big so far. There is buying here. SPY also ripping higher with internals. Could be/should be turning point.
Will have to get back above vwap and 9 for starters. Top TL breakout is what I want + pivot at 9.09
And suddenly HUGE pop higher above all of them TL included, but not Pivot yet. Am waiting. Dont want to get out yet.
9.07 / .09 then HOD at 9.18 then big D bo at 9.25. We got huge vol increase here all things look up.
And we got above with bids following close behind. Ready to take half. The 66% short float is what im most excited about here. I think well see it, other names still holding high and trending up.
Dont need to be greedy. Make sure I take what I need to. Follow the rules. Took half on 1st pb.
Waiting to see if we can hold something. Were failing to hold anything so far. TL was last one, but just failed. Lots of big red hitting tape.
There is a lot of potential S on this pb if it does want to get deeper. TL from LOD also here right on vwap.
Going to exit if we drop any lower and cant recover. Will get back in if looks bullish but so far gave up entire win on core.
Very quiet tape. Minute gone by nothing. Either out if we drop, or add if we pop.
2 minutes, no trades. Too bad all out.
NIO
Not strong but holding levels. Tape coming into retest of prev HOD nothing but red, but we are not dropping any lower. Until we did.
But quickly reclaimed and got back above with same tape patterns. Got in as we ticked up. Not a super great looking trade, but is giving me what I want to see. Not getting big.
Added once we stepped up, but noticed volume was thin on the pb and didnt want to risk much more. Took early loss, will be better opportunities elsewhere.
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And almost right away, we came back to HTF level and found huge bid. 100k. I got big in front.
Stepped up ok to start. Not ripping. Came to prev pivot micro high at .73 got above. PT is VWAP at.80
Changing stop to a 1 tick win. Not leaving without taking money.
Struggling at this .73 cant stay above. Tape is back and forth, no clear winner. Should probably give edge to bears as were under vwap and not trending up.
Now seeing big sell come in, covered up quickly by more buying. Might get what I want here. Tough to judge edge right now. Market is up. Internals weak or sideways.
Making a run to vwap at .80. Would like to see shorts get blasted. Bids definitely winning and bigger at the moment. Selling still here though. Still a battle.
MAs all underneath aside from 10min/15. A pop above .80 would make them all under.
Taking half early if it cant go now. other half at original stop.
Back up to test again. Should be tough spot to get above, will see if buying can continue. Stuffed quick on lots of selling, took half off.
Lost 1min right range and took off another half. Smaller size left.
Almost stopped out last bit just above breakeven, but came back up again to test high 70s. Will follow 1min and be all out on new 1 min low. This up move is even less vol than the last.
Made it to .80 big offer. Finally made it above, just following 1min action. Out at .80
TSM
Reversal. Had the signs, but no go.
2ND HALF
Market still strong, still having some possible setups come around. Waiting to see. Up nicely on the day, dont need to give much back. Will take 1 more trade, if loss, will leave desk.
CAKE
Solid scalp setup on squeezer name. break of range high at 29.96 will be into HOD at 27.03. Got failure lower, and vol cues.
Noticing huge offer at 27. for 60k. Will have to be fast to exit if we dont break him.
Reset much later, coming back up again, still failure, still volume. Market still up and strong.
FOMC came out, shook the market a bit, CAKE got above .96 and I hit .97 with a nice bid stack behind for stop out. If we can roll here ill add. Slow mover though now.
to .98, well see how big this guy really is. we break him I add.
Too fast for me, couldnt get it. Had nice pop, took off majority on 1st candle low. Letting rest ride on HTF idea.
27.30 for a measured move.
Running into a wall here, cant get through even with a lot of buying. Moving stop up.
Got above but stuff lower pretty quick. Maybe a case for re entry, not the prettiest.
AMD
Strong all day, came back to vwap/pmkt hi once, and bounce well. Doing it again, getting close to top TLs in play.
Much much later it flushed under vwap, looking for reclaim.
Did reclaim, and broke TL higher, rolled over real hard, lost .50cents in a couple minutes. Looking for prev HOD to hold still, nice tight range with lots of confluence here.
RRGB
Been all over up and down, recently coming back to mid day high with volume again. Scalp opportunity.
Looking at this as same case as CAKE. Quick in and out on the pop. .14 for entry, .18 for HOD, .25 for D level breakout. Only risking a few cents.
Reset lower, came back up again, tighter and big bids behind stacking. Soon as offer hits .14 im hitting.
Hit it, got huge. No pop. But sideways to start. Anymore down im out. 9.10 is risk.
Back at breakeven, only got to .11. Looking for HOD bust. Bids are stacked look ok.
Offers showed up and we stepped lower all out.
Today was a blur. So fast. Lots to look at all day. Some solid action and finally got some decent follow through with ideas how to proceed from my rut ive been stuck in.
Only regret today was not taking off AMD faster, I gave it a bit too much space to pull back on me after a failed breakout and ended up with a small loss instead of small win.
NVAX nice win to start, shame I didnt get the add.
NIO a solid win as well. Tape cues were everything. Almost same case as AMD, failed breakout to start the pop, but reclaimed and gave me cues to get back in.
RRGB the real tape master today. Just crazy spikes all over, solid reads and clean price action. Usually dont see that with names that move this slow but it was clean and clear.
Good stuff, just keep it rolling. Got new good ideas on what to do in certain circumstances in the market now. Will make that plan in monthly review.
Stayed discipline yesterday, no reason not to do the same today. Stick to what I do best and let it come to me.
1. Follow Risk plan.
2. Trade only at prev hod/lod, d bo, past zones.
3. Follow SPY
4. Avoid all trades less than 8star favorites.
5. BIG picture. Get in smaller size if 1st entry missed.
ROKU s
NIO l
PFE long / short if fail long
WKHS l
NVAX l
ALL cruise/air/pot stocks l
If the strength is there, we may see another big rip day like we did the 1st time, we retraced back to the levels we originally took off from, why not again.
SPY opening right in the middle of 3 1/2 day range. Will have to stay patient to not get caught in chop.
NVAX
Only name that had a chance to retrace to prev hod before a pop higher. Came down to it and bid came in and I got nice fill in front and we popped right to new HOD, but not to new pmkt hi. Tapped it and sold off, wasnt taking chances, took my win. Leaving small size to ride.
Regrets. NOT having big size. Spread was crazy and risk uncertain, tried to double down but no fill.
Came ALL the way back down to new LOD and got out right where I got in coincidentally. Solid trade though.
AMD
FAST mover hard to read. Failed a breakdown and reclaimed and had big bid come in and sit there. Got in in front and added a few times. We made a break straight away of TL but rejected right back and I bailed breakeven. Was really big.
Trying to find way back in if its there.
And then SPY blew up and AMD followed. Not in.
Couldve left a winner but too slow. No re entry as it crashed .50cents through vwap.
RRGB
Squeeze name. Had strong open and came back to vwap + htf and still bids and strength here. We stepped up and I got in and added once we stepped again.
Stepped up again and big bid came in and added. Its fav and 10star so uncomfortably big right now. Risk is tight but tape looks great.
Very slow name so gotta chill.
Other squeezers are squeezing so the theme is here.
HOD is target at 9.18, big D breakout at 9.25, would be nice to see with size.
Avg price is 8.99 so we have vwap and whole number as great spot for stop out.
Lots of big orders coming through, but seem to be absorbing well. Bids still stacked.
Drifted its way back to vwap / breakeven. Waiting to see action if I get out or not.
Started seeing the sell come in, there was bid that I could get all out at and I took it. Re entry is possible.
Was good exit, got worse.
----------------------------------------------------------
Later in day reclaimed the level and vwap. Looking for the long again. Market still up and strong.
Big orders came in, cant tell if buy or sell, would assume buys. Price is at vwap, I want to see a test under this into HTF level for best entry.
Broke down into it and big ish bid. Big buy came through, but seller must be hiding size because we did not break up.
Gout our tick up and I got in. Small risk. 10 star and fav. Everything in favor, need to be big.
And we popped higher quickly and added. Pretty big so far. There is buying here. SPY also ripping higher with internals. Could be/should be turning point.
Will have to get back above vwap and 9 for starters. Top TL breakout is what I want + pivot at 9.09
And suddenly HUGE pop higher above all of them TL included, but not Pivot yet. Am waiting. Dont want to get out yet.
9.07 / .09 then HOD at 9.18 then big D bo at 9.25. We got huge vol increase here all things look up.
And we got above with bids following close behind. Ready to take half. The 66% short float is what im most excited about here. I think well see it, other names still holding high and trending up.
Dont need to be greedy. Make sure I take what I need to. Follow the rules. Took half on 1st pb.
Waiting to see if we can hold something. Were failing to hold anything so far. TL was last one, but just failed. Lots of big red hitting tape.
There is a lot of potential S on this pb if it does want to get deeper. TL from LOD also here right on vwap.
Going to exit if we drop any lower and cant recover. Will get back in if looks bullish but so far gave up entire win on core.
Very quiet tape. Minute gone by nothing. Either out if we drop, or add if we pop.
2 minutes, no trades. Too bad all out.
NIO
Not strong but holding levels. Tape coming into retest of prev HOD nothing but red, but we are not dropping any lower. Until we did.
But quickly reclaimed and got back above with same tape patterns. Got in as we ticked up. Not a super great looking trade, but is giving me what I want to see. Not getting big.
Added once we stepped up, but noticed volume was thin on the pb and didnt want to risk much more. Took early loss, will be better opportunities elsewhere.
-------------------------------------------------------------
And almost right away, we came back to HTF level and found huge bid. 100k. I got big in front.
Stepped up ok to start. Not ripping. Came to prev pivot micro high at .73 got above. PT is VWAP at.80
Changing stop to a 1 tick win. Not leaving without taking money.
Struggling at this .73 cant stay above. Tape is back and forth, no clear winner. Should probably give edge to bears as were under vwap and not trending up.
Now seeing big sell come in, covered up quickly by more buying. Might get what I want here. Tough to judge edge right now. Market is up. Internals weak or sideways.
Making a run to vwap at .80. Would like to see shorts get blasted. Bids definitely winning and bigger at the moment. Selling still here though. Still a battle.
MAs all underneath aside from 10min/15. A pop above .80 would make them all under.
Taking half early if it cant go now. other half at original stop.
Back up to test again. Should be tough spot to get above, will see if buying can continue. Stuffed quick on lots of selling, took half off.
Lost 1min right range and took off another half. Smaller size left.
Almost stopped out last bit just above breakeven, but came back up again to test high 70s. Will follow 1min and be all out on new 1 min low. This up move is even less vol than the last.
Made it to .80 big offer. Finally made it above, just following 1min action. Out at .80
TSM
Reversal. Had the signs, but no go.
2ND HALF
Market still strong, still having some possible setups come around. Waiting to see. Up nicely on the day, dont need to give much back. Will take 1 more trade, if loss, will leave desk.
CAKE
Solid scalp setup on squeezer name. break of range high at 29.96 will be into HOD at 27.03. Got failure lower, and vol cues.
Noticing huge offer at 27. for 60k. Will have to be fast to exit if we dont break him.
Reset much later, coming back up again, still failure, still volume. Market still up and strong.
FOMC came out, shook the market a bit, CAKE got above .96 and I hit .97 with a nice bid stack behind for stop out. If we can roll here ill add. Slow mover though now.
to .98, well see how big this guy really is. we break him I add.
Too fast for me, couldnt get it. Had nice pop, took off majority on 1st candle low. Letting rest ride on HTF idea.
27.30 for a measured move.
Running into a wall here, cant get through even with a lot of buying. Moving stop up.
Got above but stuff lower pretty quick. Maybe a case for re entry, not the prettiest.
AMD
Strong all day, came back to vwap/pmkt hi once, and bounce well. Doing it again, getting close to top TLs in play.
Much much later it flushed under vwap, looking for reclaim.
Did reclaim, and broke TL higher, rolled over real hard, lost .50cents in a couple minutes. Looking for prev HOD to hold still, nice tight range with lots of confluence here.
RRGB
Been all over up and down, recently coming back to mid day high with volume again. Scalp opportunity.
Looking at this as same case as CAKE. Quick in and out on the pop. .14 for entry, .18 for HOD, .25 for D level breakout. Only risking a few cents.
Reset lower, came back up again, tighter and big bids behind stacking. Soon as offer hits .14 im hitting.
Hit it, got huge. No pop. But sideways to start. Anymore down im out. 9.10 is risk.
Back at breakeven, only got to .11. Looking for HOD bust. Bids are stacked look ok.
Offers showed up and we stepped lower all out.
Today was a blur. So fast. Lots to look at all day. Some solid action and finally got some decent follow through with ideas how to proceed from my rut ive been stuck in.
Only regret today was not taking off AMD faster, I gave it a bit too much space to pull back on me after a failed breakout and ended up with a small loss instead of small win.
NVAX nice win to start, shame I didnt get the add.
NIO a solid win as well. Tape cues were everything. Almost same case as AMD, failed breakout to start the pop, but reclaimed and gave me cues to get back in.
RRGB the real tape master today. Just crazy spikes all over, solid reads and clean price action. Usually dont see that with names that move this slow but it was clean and clear.
Good stuff, just keep it rolling. Got new good ideas on what to do in certain circumstances in the market now. Will make that plan in monthly review.
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