8/24 DRC
Today should be an interesting one. We are gapping up huge. Just about all the names I had are well above the level I wanted to see the break. Going to have to look for a lot of pullback entries today at the open. Some still under looking to break soon though, hoping we can stay under and break in real time hours.
Market looking very bullish again. We saw a lot of failed breakdowns turn higher. Some names stll coiling tight under breakouts. Beat down names have returned to top of consolidation and with gap up today are popping higher again already, looking for today to be a continuation of there run ups. Well see just how explosive we can be to the upside.
Ended my week on a poor note last friday. Is whatever. I have rules in place, mainly re entry rules to follow. The rest just keep doing what I have been doing. Stock selection, entry locations. Wait for it to come to me and the tape will show the rest.
1. Stay patient, busy day ahead. Take the clean, clear, and strong, and avoid anything else.
2. Follow re entry rules
3. Follow PT rules
AMZN AMD TSLA ROKU BABA IQ WKHS MRNA EXPE
CHWY
Solid tape action. Broke lod and failed came back up and great tape action here. In and added a few times. Lower vol and spready so not great. Already at new HOD taking half soon.
Took half at 1st good sign of sell. Not wanting to give back a ton on these wide pbs.
PB came all the way back to entry and vwap. Bounced once. Hate to see that much profit gone but deal with it.
And all out at breakeven. Looking for re entry a bit lower at retest of HTF if its there. If not, not thrilled to get in again yet.
Hit it and turned, saw the tape and back in. Great cues. Tried to add, no fill, RR gone cant add.
Great start, turned back to entry right away. Was up 1R so stop tight.
Out for small win, SPY turning lower and could see tpae doing same here on CHWY. Was right call. Resetting again.
Got back in again as it turned up. Not able to put size on RR left me quick again but all signs repeating.
And all out as it was dropping lower again. SPY dropping LOD hard.
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Tried again as tape was there for it, quickly out though.
DHR
Low vol name, but great D pattern. Just failed a breakdown under prev hod and intraday pivot and got back up. Market is not helping but tape is here.
And quickly failed on me. Out.
AMZN
Market overall weak, starting to slow down find some strength. AMZN had big run up at open, lost it all and made new LOD, did not follow through and bought up back above prev hod. Looking for return to it for long.
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Later came back to it, seeing big vol increase, but price slowing down, buyers must be coming in. Waiting for tape.
Building above prev hod, tape is here, SPY also hit vwap bounced higher, waiting for test to get in.
And in starter. 10 star + fav. Tape getting all over and right away stopping me out. Had big bid, taken out seconds after entry despite being 4 points away. Dumb.
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Sold off well, reclaimed it all. Back to test vwap with TL under price right at prev hod giving good spot for entry. Want break lower to get bought for long. Nice range to work with as well.
Broke lower and enough to make me avoid for moment. Market is breaking down a bit but not following through, internals not following weakness. Trade can still be here.
Market turning up, AMZN broke TL and finding some vol, waiting on retest of level again for long. Internals split. SPY is up and made new high above vwap. Not exactly stupid strong uptrend day, but chance is here for something to happen.
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Stuttered around for the next hour. Now breaking higher along with SPY after failing a break lower. Looks good, MAs under price as well. Waiting on some pb to find buying. Is also a big TL from early morning pivot.
And got what I want, we tested lower to prev hi or mini range and bounced higher with SPY. GOt in. 10 star and fav and this is without tape. Looking to add, SPY also turning up
And right away failed along with SPY and went right to stop. Faked out. Sick of it. Lots of times today I get in right as it looks good, just for it to fail and turn on me.
IQ
Great D setup, strong open, slow pb back to HTF level where were under vwap but have good tape buying and building above it. SPY back to new HOD and MAs here really make it look weak but im thinking I can get a good trade here regardless.
It failed one breakdown already if it can do it again I know theres something here.
And we did and I am in and added a few times. Great cues again. Looking for bust up above vwap and recent pivot. Vol was weak on breakdown, not great on pop back up, but buying was there and we broke TL and reclaiming some MAs
Making nice mini bull flag, needs to pop above .40 here, if not stop is set at small L.
Dipped to it, spike back up added more. Fav + 10 star. Needs to go now stop still same but happy with action.
Made new high here just under vwap.
Couldnt do it all out. SPY also dropping.
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Much later, we coiled under vwap all morning. Making a tight triangle with price above HTF level. MAs super tight under, we broke lower TL and found nothing. Market also getting stronger with internals. Waiting to see price start jumping higher for long.
NIO
Tight all day, above prev hod keeps testing and spiking above. Got really tight in triangle and started seeing good buying. Faked me out though and all out.
DRI
Beat down name, all of them acting super stupid strong today. DRI a bit behind but is the one that is holding above the level and still in play. Got in at not great location but tape clearly here. Market is selling off decently but had its bounce, Internals are not weak and do not reflect action here. Thinking we can turn soon.
Dipped a bit lower and saw same thing, bids rushing to step up and get in so I added. Same spot.
And exact same thing again. Added same spot. Other beatdowns tight and coiling well. SPY ripping higher it did find nice bottom should be going soon. Clear level of .66 to beat, should see HOD if we can.
There is minor TL here to work with and pivot breakdown with MAs above and curling lower. Need to get out fast.
Dripped lower, failed, bought up, waiting for new 1min high to add. SPY turning lower maybe. Other beatdowns are falling lower. Not good. DRI not yet though.
We popped high and I added a few times. Looks A+ vol kick is here and SPY up as well, other beatdowns also curled and popped higher. Needs to go right to it now, if not warning signs and signs for weakness to continue on failed strength.
Up 1.5R so gotta deal with loss still. MAs very tight underneath. Slow name though have to deal with noise. Still looks great.
Pullback to entry on low vol and popped back up. Tried to add more. Didnt get it. Clear stop now just for small L.
Came to the make or break it point. Low vol pb again, super slow, reasons to hold still here. Market found some strength still. Had to deal with and and did. We popped higher buying still here and winning and added more again.
Making new triangle, super tight almost at apex, buyers clearly have advantage, needs to blow up again.
Everything tight right now. SPY internals beatdown, DRI. Could be big turning point
Couple ticks lower and again, bid up and to breaking point of micro range high. Top TL almost touching price. Added again on break
And into top TL. Im a bit nervous here, SPY is dropping lower with some vol, may continue.
So odd, we break higher finally after alll that as SPY is dumping hard with colume. Weird. Close to HOD here, might get it. Up +3R now so stop set for win. Will only take half if we break HOD now.
Vol really exploding here into this, SPY also ripped up and completely erased that move lower it just made. Should see it, pennys away. If not all out for decent win lower.
84.20 may be a spot of R, after that nothing until 85.
PA very tight up here, we break lower I will take half. Spending time up here, I like fast and east, not sit and wait around for it to fail and pb again on me. Theres the break and now waiting to take half.
Well offer at 84 broke but non taking above it to actually make the new HOD. Now we did, only 1 transaction at .03
Well a little disappointing here, we are not taking off at all. We broke it, bids here stepping and holding but no aggression. Guess I shouldnt be surprised.
Huge order came in, sold off a bit and took off majority. Stop set to 50%, not happy with that move at all.
And very quickly we see huge selling and offers show up and all out. UGLY. And it dumped right back to entry, sad. Couldve been something special there but market really not acting right for it I suppose.
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May reset.
TSLA
weak all day, big reversal opportunity. Prev lod in play and now on top of vwap + prev intraday pivots. Looking for break higher above it to short.
Getting there fast and with volume. Wow and TL from HOD on top of price. Excellent spot.
Vol growing but candles small, can tell there is sellers here, SPY trying to break higher it seems.
I see the sell now but I need to wait here. Has not hit prev lod yet, just barely broke above pivot into vwap and market has strength for the moment. Gotta wait.
Well starting to look like a decent long pop here above this. All MAs under on 1 min. Just means better short if it doesnt. Still waiting.
And did see a pretty major pop. Will wait still if it reclaims lower for short.
Forced some longs today. Gotta remember the best trades will come from above vwap. Not when we failed to hold higher. Pretty much anticipated a lot of weakness to turn to strength. Market told me we were not clearly strong and I didnt listen. Fortunately only lost small on a few trades. But losing none is better.
Really just a tough day to make money. Clearly a long strong breakout market and we failed it all. Outside of the 1st 20 minutes of the day, everything pretty choppy, directionless. I got caught taking some lesser longs with things not as clean as they could be. Overall was a fine day. Did what I needed to. Happy to be leaving with some money. Onto tomorrow.
Market looking very bullish again. We saw a lot of failed breakdowns turn higher. Some names stll coiling tight under breakouts. Beat down names have returned to top of consolidation and with gap up today are popping higher again already, looking for today to be a continuation of there run ups. Well see just how explosive we can be to the upside.
Ended my week on a poor note last friday. Is whatever. I have rules in place, mainly re entry rules to follow. The rest just keep doing what I have been doing. Stock selection, entry locations. Wait for it to come to me and the tape will show the rest.
1. Stay patient, busy day ahead. Take the clean, clear, and strong, and avoid anything else.
2. Follow re entry rules
3. Follow PT rules
AMZN AMD TSLA ROKU BABA IQ WKHS MRNA EXPE
CHWY
Solid tape action. Broke lod and failed came back up and great tape action here. In and added a few times. Lower vol and spready so not great. Already at new HOD taking half soon.
Took half at 1st good sign of sell. Not wanting to give back a ton on these wide pbs.
PB came all the way back to entry and vwap. Bounced once. Hate to see that much profit gone but deal with it.
And all out at breakeven. Looking for re entry a bit lower at retest of HTF if its there. If not, not thrilled to get in again yet.
Hit it and turned, saw the tape and back in. Great cues. Tried to add, no fill, RR gone cant add.
Great start, turned back to entry right away. Was up 1R so stop tight.
Out for small win, SPY turning lower and could see tpae doing same here on CHWY. Was right call. Resetting again.
Got back in again as it turned up. Not able to put size on RR left me quick again but all signs repeating.
And all out as it was dropping lower again. SPY dropping LOD hard.
-------------------------------------------------------------
Tried again as tape was there for it, quickly out though.
DHR
Low vol name, but great D pattern. Just failed a breakdown under prev hod and intraday pivot and got back up. Market is not helping but tape is here.
And quickly failed on me. Out.
AMZN
Market overall weak, starting to slow down find some strength. AMZN had big run up at open, lost it all and made new LOD, did not follow through and bought up back above prev hod. Looking for return to it for long.
--------------------------------------------------------
Later came back to it, seeing big vol increase, but price slowing down, buyers must be coming in. Waiting for tape.
Building above prev hod, tape is here, SPY also hit vwap bounced higher, waiting for test to get in.
And in starter. 10 star + fav. Tape getting all over and right away stopping me out. Had big bid, taken out seconds after entry despite being 4 points away. Dumb.
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Sold off well, reclaimed it all. Back to test vwap with TL under price right at prev hod giving good spot for entry. Want break lower to get bought for long. Nice range to work with as well.
Broke lower and enough to make me avoid for moment. Market is breaking down a bit but not following through, internals not following weakness. Trade can still be here.
Market turning up, AMZN broke TL and finding some vol, waiting on retest of level again for long. Internals split. SPY is up and made new high above vwap. Not exactly stupid strong uptrend day, but chance is here for something to happen.
--------------------------------------------
Stuttered around for the next hour. Now breaking higher along with SPY after failing a break lower. Looks good, MAs under price as well. Waiting on some pb to find buying. Is also a big TL from early morning pivot.
And got what I want, we tested lower to prev hi or mini range and bounced higher with SPY. GOt in. 10 star and fav and this is without tape. Looking to add, SPY also turning up
And right away failed along with SPY and went right to stop. Faked out. Sick of it. Lots of times today I get in right as it looks good, just for it to fail and turn on me.
IQ
Great D setup, strong open, slow pb back to HTF level where were under vwap but have good tape buying and building above it. SPY back to new HOD and MAs here really make it look weak but im thinking I can get a good trade here regardless.
It failed one breakdown already if it can do it again I know theres something here.
And we did and I am in and added a few times. Great cues again. Looking for bust up above vwap and recent pivot. Vol was weak on breakdown, not great on pop back up, but buying was there and we broke TL and reclaiming some MAs
Making nice mini bull flag, needs to pop above .40 here, if not stop is set at small L.
Dipped to it, spike back up added more. Fav + 10 star. Needs to go now stop still same but happy with action.
Made new high here just under vwap.
Couldnt do it all out. SPY also dropping.
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Much later, we coiled under vwap all morning. Making a tight triangle with price above HTF level. MAs super tight under, we broke lower TL and found nothing. Market also getting stronger with internals. Waiting to see price start jumping higher for long.
NIO
Tight all day, above prev hod keeps testing and spiking above. Got really tight in triangle and started seeing good buying. Faked me out though and all out.
DRI
Beat down name, all of them acting super stupid strong today. DRI a bit behind but is the one that is holding above the level and still in play. Got in at not great location but tape clearly here. Market is selling off decently but had its bounce, Internals are not weak and do not reflect action here. Thinking we can turn soon.
Dipped a bit lower and saw same thing, bids rushing to step up and get in so I added. Same spot.
And exact same thing again. Added same spot. Other beatdowns tight and coiling well. SPY ripping higher it did find nice bottom should be going soon. Clear level of .66 to beat, should see HOD if we can.
There is minor TL here to work with and pivot breakdown with MAs above and curling lower. Need to get out fast.
Dripped lower, failed, bought up, waiting for new 1min high to add. SPY turning lower maybe. Other beatdowns are falling lower. Not good. DRI not yet though.
We popped high and I added a few times. Looks A+ vol kick is here and SPY up as well, other beatdowns also curled and popped higher. Needs to go right to it now, if not warning signs and signs for weakness to continue on failed strength.
Up 1.5R so gotta deal with loss still. MAs very tight underneath. Slow name though have to deal with noise. Still looks great.
Pullback to entry on low vol and popped back up. Tried to add more. Didnt get it. Clear stop now just for small L.
Came to the make or break it point. Low vol pb again, super slow, reasons to hold still here. Market found some strength still. Had to deal with and and did. We popped higher buying still here and winning and added more again.
Making new triangle, super tight almost at apex, buyers clearly have advantage, needs to blow up again.
Everything tight right now. SPY internals beatdown, DRI. Could be big turning point
Couple ticks lower and again, bid up and to breaking point of micro range high. Top TL almost touching price. Added again on break
And into top TL. Im a bit nervous here, SPY is dropping lower with some vol, may continue.
So odd, we break higher finally after alll that as SPY is dumping hard with colume. Weird. Close to HOD here, might get it. Up +3R now so stop set for win. Will only take half if we break HOD now.
Vol really exploding here into this, SPY also ripped up and completely erased that move lower it just made. Should see it, pennys away. If not all out for decent win lower.
84.20 may be a spot of R, after that nothing until 85.
PA very tight up here, we break lower I will take half. Spending time up here, I like fast and east, not sit and wait around for it to fail and pb again on me. Theres the break and now waiting to take half.
Well offer at 84 broke but non taking above it to actually make the new HOD. Now we did, only 1 transaction at .03
Well a little disappointing here, we are not taking off at all. We broke it, bids here stepping and holding but no aggression. Guess I shouldnt be surprised.
Huge order came in, sold off a bit and took off majority. Stop set to 50%, not happy with that move at all.
And very quickly we see huge selling and offers show up and all out. UGLY. And it dumped right back to entry, sad. Couldve been something special there but market really not acting right for it I suppose.
---------------------------------------------------------------------------------------
May reset.
TSLA
weak all day, big reversal opportunity. Prev lod in play and now on top of vwap + prev intraday pivots. Looking for break higher above it to short.
Getting there fast and with volume. Wow and TL from HOD on top of price. Excellent spot.
Vol growing but candles small, can tell there is sellers here, SPY trying to break higher it seems.
I see the sell now but I need to wait here. Has not hit prev lod yet, just barely broke above pivot into vwap and market has strength for the moment. Gotta wait.
Well starting to look like a decent long pop here above this. All MAs under on 1 min. Just means better short if it doesnt. Still waiting.
And did see a pretty major pop. Will wait still if it reclaims lower for short.
Forced some longs today. Gotta remember the best trades will come from above vwap. Not when we failed to hold higher. Pretty much anticipated a lot of weakness to turn to strength. Market told me we were not clearly strong and I didnt listen. Fortunately only lost small on a few trades. But losing none is better.
Really just a tough day to make money. Clearly a long strong breakout market and we failed it all. Outside of the 1st 20 minutes of the day, everything pretty choppy, directionless. I got caught taking some lesser longs with things not as clean as they could be. Overall was a fine day. Did what I needed to. Happy to be leaving with some money. Onto tomorrow.
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