9/4 DRC
1st major selloff yesterday. Thinking it can continue.
1. We continue the weakness and sell off more, this time more aggressively as we lose trendlines and daily support levels.
2. We bottom out and build sideways. Chop all day
3. We rip back up hard as bulls continue to buy everything
Mainly my plans are short but i do have a few longs to look for as well off a bounce. Beatdowns had a nice run up early morning, but lost it all as we sold off. Im gonna trade them both ways long and short and well see what we can get.
SPY is few points above prev lod and slightly green from the close. Numbers were good so will help bull thesis.
Really need to be patient today. Bulls are shook, cant just go swinging for the fences long right from the bell. Need to let the market tell me whats going to happen today and not get on the wrong side of it.
1. Do not fight the market. Follow the weakness if there. If strong, long is good, is sideways, both ways are good as long as price action is clean and clear
2. Follow all rules.
3. If there is clear market direction, size up.
BA FSLY GRPN SHOP TWLO DXCM LVGO
Everything popped higher at open, seems to be giving it all back and then some. Shorts look like the way to go.
ZI
Getting something finally, strong pop, lost it all under prev lod but not intraday LOD, retrace to prev lod for short. Market weak.
SPY dropped hard, ZI pulled up past levelm but rolled over and followed momentum. In. Slow name trying to add. Vol growing.
Took market, SPY still ugly, looking for LOD break at 33. After that All time low at 32.11 structure looking great, needs to follow up on SPY better.
Made to LOD, big bids down here.
Stuck down here, if we do break going to take off into the break. Looks like it may want to snap back with big bids still just under the break.
SPY starting to turn up, might be ZI last chance. Need a big sell to take him out.
SPY did turn higher fast, ZI did not follow but stop is tightened.
And now SPY turning lower again. Also ZI has a TL break, tells me should pop higher, need to be fast to get out. Sellers following it stepping lower. Might get the break after all.
And not, all out as we broke up, looking to reset trade at prev lod again.
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Didnt pop any higher, still tighter at the low, wanting back in onb break if I can catch it while it goes.
Got in as it went into other big bid, didnt drop, tape got skippy and bids dropped off, if didnt take L was at risk for much bigger L so took tiny loss.
PK
Strong name all day, held while market dumped. Maybe long, just reclaimed dbo level and vwap and MAs, into top TL after failing lower. Retrace to 10/vwap for long.
PLAY
Opposite of PK, building under all, but not dropping yet.
NKLA
Serious drop off, NKLA lagging after reversal in markets got in and added on break of range. Decent pop into TL, looking for break of it to take.
SPY still turning up so we look good for it.
Stuck at TL, cant get above, SPY making new high with internals following strength, should see it.
And broke it, taking half soon.
Big bids following, holding as long as I can here. Market continues return to mean.
34 will be tough spot as its also 5min 9ma
There anyways, vol been low this whole up move. SPY still moving up, stalling though, not as fast, big bid here will use as stop. And majority out. Well see if theres gonna be 2nd leg lower in markets, using MAs/5min/50% for last out.
Got to .50 wher there was big bid, huge offer showed though and all out as it broke. SPY also turning lower again.
H
Very odd strong name here. Failing lower several times and reclaiming vwap and MAs, getting very tight. Might be a long here even through all this weakness. Waiting for clear hold lower of vwap.
Broke up above into top TL with low vol, still thinking I can get a pb, no reason to chase a long in this market.
Pulled in, huge buys came through, market helping. Bad entry though, chased a bit after huge buys flooded tape.
Lots of mini pivots to beat here, no problem adding now after what Ive seen. .50 will break 3, then HOD at .67
Up to breaking point and pulling off it lower again, v tight still, holding.
SPY originally pulling up, now turned back lower looking weak again ready for another breakdown.
Internals mixed, edge to bears.
We found a bottom, added as we ticked back up. New stop needs to go now.
Added more as we got to break point again, tape good still. Getting very high and tight, SPY turning lower still but very slowly, might rip up again internals tell me we might.
Trade looks so damn good, market just not helping the cause right now. Bailed on it, SPY just getting worse.
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Didnt drop any lower and then SPY turned ripped higher. I got back in on the break.
Came lower, added more on new pivot high, just under new HOD now. If we get the break, should be really good needs to go now. SPY still moving up we look great for more.
Everything pointing higher, we cant do it yet. Vol slow. Stop is if we go any lower, im decently big.
Bid at stop, offer at HOD. Annoying have to deal. Edge clearly on bulls side right now. Slow so gotta give it some, but damn, should be gone.
All right and we got HOD break. Lots of potential TLs making a rising wedge here. Needs to give me reasons to hold. Vol is key, so far not here.
Failed, dropped hard lower and all out for half R loss. Tough.
Going to call it early. Things to do today, green and ending a pgood week.
Mistakes today were not taking trades. PLAY a clear short that I hesitated on because it was acting strong and not breaking lower with market. ZI a huge miss. Just was not acting right. Huge bids, low volume, lack of selling. Tough to hang int here and stick it out. Obviously with market dumping made it go, but if SPY wasnt, then what happens?
Was really hard to find a good short. Everything moves so quickly so fast not even responding to my levels. Makes it hard to get a clean entry without chasing but thats alright.
Days like there are not where ive been making majority of my money anyways. Will have to get used to trading like this if its going to be the norm, but weve only seen 2 days of it so far so no worries. Just gotta keep trading whats been doing well for me and ill be fine.
1. We continue the weakness and sell off more, this time more aggressively as we lose trendlines and daily support levels.
2. We bottom out and build sideways. Chop all day
3. We rip back up hard as bulls continue to buy everything
Mainly my plans are short but i do have a few longs to look for as well off a bounce. Beatdowns had a nice run up early morning, but lost it all as we sold off. Im gonna trade them both ways long and short and well see what we can get.
SPY is few points above prev lod and slightly green from the close. Numbers were good so will help bull thesis.
Really need to be patient today. Bulls are shook, cant just go swinging for the fences long right from the bell. Need to let the market tell me whats going to happen today and not get on the wrong side of it.
1. Do not fight the market. Follow the weakness if there. If strong, long is good, is sideways, both ways are good as long as price action is clean and clear
2. Follow all rules.
3. If there is clear market direction, size up.
BA FSLY GRPN SHOP TWLO DXCM LVGO
Everything popped higher at open, seems to be giving it all back and then some. Shorts look like the way to go.
ZI
Getting something finally, strong pop, lost it all under prev lod but not intraday LOD, retrace to prev lod for short. Market weak.
SPY dropped hard, ZI pulled up past levelm but rolled over and followed momentum. In. Slow name trying to add. Vol growing.
Took market, SPY still ugly, looking for LOD break at 33. After that All time low at 32.11 structure looking great, needs to follow up on SPY better.
Made to LOD, big bids down here.
Stuck down here, if we do break going to take off into the break. Looks like it may want to snap back with big bids still just under the break.
SPY starting to turn up, might be ZI last chance. Need a big sell to take him out.
SPY did turn higher fast, ZI did not follow but stop is tightened.
And now SPY turning lower again. Also ZI has a TL break, tells me should pop higher, need to be fast to get out. Sellers following it stepping lower. Might get the break after all.
And not, all out as we broke up, looking to reset trade at prev lod again.
-------------------------------------------------------------------------
Didnt pop any higher, still tighter at the low, wanting back in onb break if I can catch it while it goes.
Got in as it went into other big bid, didnt drop, tape got skippy and bids dropped off, if didnt take L was at risk for much bigger L so took tiny loss.
PK
Strong name all day, held while market dumped. Maybe long, just reclaimed dbo level and vwap and MAs, into top TL after failing lower. Retrace to 10/vwap for long.
PLAY
Opposite of PK, building under all, but not dropping yet.
NKLA
Serious drop off, NKLA lagging after reversal in markets got in and added on break of range. Decent pop into TL, looking for break of it to take.
SPY still turning up so we look good for it.
Stuck at TL, cant get above, SPY making new high with internals following strength, should see it.
And broke it, taking half soon.
Big bids following, holding as long as I can here. Market continues return to mean.
34 will be tough spot as its also 5min 9ma
There anyways, vol been low this whole up move. SPY still moving up, stalling though, not as fast, big bid here will use as stop. And majority out. Well see if theres gonna be 2nd leg lower in markets, using MAs/5min/50% for last out.
Got to .50 wher there was big bid, huge offer showed though and all out as it broke. SPY also turning lower again.
H
Very odd strong name here. Failing lower several times and reclaiming vwap and MAs, getting very tight. Might be a long here even through all this weakness. Waiting for clear hold lower of vwap.
Broke up above into top TL with low vol, still thinking I can get a pb, no reason to chase a long in this market.
Pulled in, huge buys came through, market helping. Bad entry though, chased a bit after huge buys flooded tape.
Lots of mini pivots to beat here, no problem adding now after what Ive seen. .50 will break 3, then HOD at .67
Up to breaking point and pulling off it lower again, v tight still, holding.
SPY originally pulling up, now turned back lower looking weak again ready for another breakdown.
Internals mixed, edge to bears.
We found a bottom, added as we ticked back up. New stop needs to go now.
Added more as we got to break point again, tape good still. Getting very high and tight, SPY turning lower still but very slowly, might rip up again internals tell me we might.
Trade looks so damn good, market just not helping the cause right now. Bailed on it, SPY just getting worse.
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Didnt drop any lower and then SPY turned ripped higher. I got back in on the break.
Came lower, added more on new pivot high, just under new HOD now. If we get the break, should be really good needs to go now. SPY still moving up we look great for more.
Everything pointing higher, we cant do it yet. Vol slow. Stop is if we go any lower, im decently big.
Bid at stop, offer at HOD. Annoying have to deal. Edge clearly on bulls side right now. Slow so gotta give it some, but damn, should be gone.
All right and we got HOD break. Lots of potential TLs making a rising wedge here. Needs to give me reasons to hold. Vol is key, so far not here.
Failed, dropped hard lower and all out for half R loss. Tough.
Going to call it early. Things to do today, green and ending a pgood week.
Mistakes today were not taking trades. PLAY a clear short that I hesitated on because it was acting strong and not breaking lower with market. ZI a huge miss. Just was not acting right. Huge bids, low volume, lack of selling. Tough to hang int here and stick it out. Obviously with market dumping made it go, but if SPY wasnt, then what happens?
Was really hard to find a good short. Everything moves so quickly so fast not even responding to my levels. Makes it hard to get a clean entry without chasing but thats alright.
Days like there are not where ive been making majority of my money anyways. Will have to get used to trading like this if its going to be the norm, but weve only seen 2 days of it so far so no worries. Just gotta keep trading whats been doing well for me and ill be fine.
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