8/14 DRC
Another slow day yesterday, today shaping up to be the same. We are in a position where these momentum stocks have no broken down a bit to a D breakdown point, so this is the spot either buyers buy up the failed breakdown, or they are done, sellers take over and we see some deeper pullbacks. Just about all these names are a ways ahead of the 50ma, most been trending with the 9 and 20 well, some holding, some just lost, some rolling over. Good spot in the market for a turning point. Ill keep betting on the bulls winning.
Beatdown names maybe turning higher. I cant see the trade yet, will probably have to wait til monday. But alerts set in case it does happen today.
Going to have no time this week for a weekly review, got a lot of chores to do today as well before I leave for the weekend. So If im up some good money today, I should take it and leave this time. But as always well see, maybe there will still be a lot to do today for me to stick around.
1. Stay patient only take trades with clear strength. Majority are at points of failure, so seeing strength first is a necessity
2. Follow PT rules
3. Get in on big picture ideas.
DKNG
PFE
WKHS
WW
AMC
WMT
Nice pop, pulled back into prev hod and saw great tape action. Got in and added a few times.
SPY did not help though, had a nice start but couldnt get back through vwap. All out breakeven.
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Out at bottom tick, looking to get back in on retest
Made new LOD and failed, same action as before and back in SPY helping better now. Needs to turn asap.
Struggling to get anywhere but holding on. Sideways for the moment.
Cant get there, all out as it broke back under whole number for decent loss.
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And agian back in big size as we keep seeing good signs at the level. Now with super low vol pb and SPY about to make new HOD with internals. And we have a TL break from HOD. Again need to see it.
And SPY fail rolling lower. Just bad timing with this. WMT reacting but no fail yet. Will be out under whole number again, needs to see pop and never come back.
We did pop and hit vwap, still great buying here. SPY at new LOD.
Trying above micro high it just made, seeing some offers here, nothing but buying on tape though. Have to wait but stop before breakeven.
Came hit breakeven, bounced for a flash, and again still seeing buying popped back up. Looks good still, vol cues here, have to hold. SPY failed its breakdown, internals back up. Trade is annoying.
Making triangle now. Still buying have to deal and hold. Making run up at new top TL at vwap again. MAs tight under and vol cue still v low on this mini pb. Signs are here we can still go.
And made new micro high by a penny and rejecting lower. PT is just before HOD. Stop just above breakeven now.
And we pushed higher into PT. SPY also turning up hard. Waiting for actual break. Stop set to 50% of this. We need to be gone or else warning signs.
Tape slow, big bid showed up. He breaks im all out. We are having trouble where we should not be.
And we got there. PT hit. HOD just above. If lucky ill have full size and get it through it. Expecations reduced on this one. Slow move higher when should be explosion.
SPY new HOD and WMT too. Lucky. Hidden sell at 132.50 on new HOD break. Got through. Lucky. Now just waiting to take.
MMs coming into play now. Getting over ext. Above .87 is big breakout level. Would be great to see that. Making a bee line right to it.
Made 1st doji since move, looking tired might be taking before its broken.
Big bid showed up. Took pt once he broke lower. Out majority. Holding smaller size.
1st pb held prev hod. TL is a ways away from being in play. Will hold through.
And down to TL + vwap. Might be good spot to get back in some. And there was a hidden buyer. Waiting again to see.
Well we didnt hold anything. Lost TL vwap and prev HTF level and prev intraday zone. Couldnt hold a damn thing. Waiting for some selling relief before out rest or else bailing at breakeven.
And out at breakeven, unreal. Glad I was out majority. And made new LOD.
KMDA
Gap name with news biotech. Weak open into ah s level, made range, broke lower, failed bought up, made ne range high, retested ah s on v low vol. Tape is nothing but buying. Trying to get filled. Spready, slowish name.
And got in. And went right to stop lol. Buyers are here though. SPY is failing dropping lower.
Added some against buyers here on bid, smaller size. Spread as wide as ive seen it but I like what I see.
Didnt last long all out.
And very quickly things turn from looking strong and bullish and a busy day for me, to nothing correlating and now failing dropping lower and nothing to do.
WMT may be setting up again. Some beatdowns are popping. But doesnt seem like enough to get me interested. Monday though for sure. Going to call it a week here. Got a busy weekend ahead. Wont get to do in depth weekly review but will do a small one here in a bit.
Beatdown names maybe turning higher. I cant see the trade yet, will probably have to wait til monday. But alerts set in case it does happen today.
Going to have no time this week for a weekly review, got a lot of chores to do today as well before I leave for the weekend. So If im up some good money today, I should take it and leave this time. But as always well see, maybe there will still be a lot to do today for me to stick around.
1. Stay patient only take trades with clear strength. Majority are at points of failure, so seeing strength first is a necessity
2. Follow PT rules
3. Get in on big picture ideas.
DKNG
PFE
WKHS
WW
AMC
WMT
Nice pop, pulled back into prev hod and saw great tape action. Got in and added a few times.
SPY did not help though, had a nice start but couldnt get back through vwap. All out breakeven.
-------------------------------------------------------------------------------------------------------
Out at bottom tick, looking to get back in on retest
Made new LOD and failed, same action as before and back in SPY helping better now. Needs to turn asap.
Struggling to get anywhere but holding on. Sideways for the moment.
Cant get there, all out as it broke back under whole number for decent loss.
-------------------------------------------------
And agian back in big size as we keep seeing good signs at the level. Now with super low vol pb and SPY about to make new HOD with internals. And we have a TL break from HOD. Again need to see it.
And SPY fail rolling lower. Just bad timing with this. WMT reacting but no fail yet. Will be out under whole number again, needs to see pop and never come back.
We did pop and hit vwap, still great buying here. SPY at new LOD.
Trying above micro high it just made, seeing some offers here, nothing but buying on tape though. Have to wait but stop before breakeven.
Came hit breakeven, bounced for a flash, and again still seeing buying popped back up. Looks good still, vol cues here, have to hold. SPY failed its breakdown, internals back up. Trade is annoying.
Making triangle now. Still buying have to deal and hold. Making run up at new top TL at vwap again. MAs tight under and vol cue still v low on this mini pb. Signs are here we can still go.
And made new micro high by a penny and rejecting lower. PT is just before HOD. Stop just above breakeven now.
And we pushed higher into PT. SPY also turning up hard. Waiting for actual break. Stop set to 50% of this. We need to be gone or else warning signs.
Tape slow, big bid showed up. He breaks im all out. We are having trouble where we should not be.
And we got there. PT hit. HOD just above. If lucky ill have full size and get it through it. Expecations reduced on this one. Slow move higher when should be explosion.
SPY new HOD and WMT too. Lucky. Hidden sell at 132.50 on new HOD break. Got through. Lucky. Now just waiting to take.
MMs coming into play now. Getting over ext. Above .87 is big breakout level. Would be great to see that. Making a bee line right to it.
Made 1st doji since move, looking tired might be taking before its broken.
Big bid showed up. Took pt once he broke lower. Out majority. Holding smaller size.
1st pb held prev hod. TL is a ways away from being in play. Will hold through.
And down to TL + vwap. Might be good spot to get back in some. And there was a hidden buyer. Waiting again to see.
Well we didnt hold anything. Lost TL vwap and prev HTF level and prev intraday zone. Couldnt hold a damn thing. Waiting for some selling relief before out rest or else bailing at breakeven.
And out at breakeven, unreal. Glad I was out majority. And made new LOD.
KMDA
Gap name with news biotech. Weak open into ah s level, made range, broke lower, failed bought up, made ne range high, retested ah s on v low vol. Tape is nothing but buying. Trying to get filled. Spready, slowish name.
And got in. And went right to stop lol. Buyers are here though. SPY is failing dropping lower.
Added some against buyers here on bid, smaller size. Spread as wide as ive seen it but I like what I see.
Didnt last long all out.
And very quickly things turn from looking strong and bullish and a busy day for me, to nothing correlating and now failing dropping lower and nothing to do.
WMT may be setting up again. Some beatdowns are popping. But doesnt seem like enough to get me interested. Monday though for sure. Going to call it a week here. Got a busy weekend ahead. Wont get to do in depth weekly review but will do a small one here in a bit.
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