10/14 DRC

 Trend up continues, had a slight settle day yesterday pulled down a bit. Really slowed some names down, gave others a chance to get even tighter. Some pullbacks now look to turn higher. Still some good looking setups out there. 

Wouldnt be surprising to see us getting range bound here, we shot up pretty quick, might take another day to contract before expanding again. All trades on watch are longs so dont want to see us pulling down any more but isnt impossible to happen. 

Didnt take a thing yesterday. Nothing look good enough, no scalps, no reversals. Pretty quiet day. Today not looking like that. Must be patient and stay on my A game. Wait for it to come to me and follow my rules. 

3star

TTWO ALXN CELH

2star

NFLX TSLA ATVI PFE TDOC ZM GRWG LVGO SPCE DAD ZI CVAV SNOW GS CMPS BA

CELH

Only name really held at open, started spiking, didnt get fill, hoping for pb to get in better price. 

SRNE

Tried reversal. No go, got out then went higher without me. 

ULTA

hit my alerts, huge breakout area. Pulled into vwap and D level, bounced and saw big vol candles come in so someone is interested. We broke mini range high and im in. 

Started running, tape skippy added twice. 

Market not helping at moment, in fact getting pretty weak losing vwap and breaking down. RVOL here is lo.

TL from LOD in play here and we are holding it, didnt see any selling with market sell, now maybe turn higher again. 

Market dropping again hard, sellers stacking, getting out of adds before I lose more. Tiny loss. Cane add back in later. 

And back in, market is ugly, but cant ignore tape, Huge reverse candle with lots of buys. Adding to core with new stop. 

Added on HOD break, looking at 244 for huge daily break. 

Made new hod and broke it with vol, but failed and turned hard on me. Market is dumping hard right now and were back at TLs, I cant be long during this im just gonna get chopped to hell. Going to have to wait for reset. 

Very frustrating because technically it looks great. 

PFE

Going to take an option swing trade. I keep seeing lately that my big picture ideas really follow through on a longer time frame. Taking 40calls as weve broken out pulled back to retest vwap and prev hi, good vol on bounce and im in. Can also be an earnings play if we get there fast or not. Expecting a pretty big move out of this big consolidation. 

DADA

 is setting up well. Held strong while market selling off. Retraced to vwap and bo ath level and holding. Dipping under and above, seeing some hidden sellers. I cant quite bring myself to take a trade here yet. Market is not showing any sings of holding anything and wanting to move higher, so until then I think I need to stay away.

RVOL here is high and making nice tight range around level, with good buys. But I think im going to need to see it make that pop higher, and come back to retest again. 

NAV

news hit, big flush, tried reversal scalp twice, both times dead action after break of 1min candle hi. No go. 

NFLX tried reversal scalp. Lagging behind mkt pullback, didnt go.

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Later on after bounce, NFLX did make a new low so rel weak, but also much over ext. Got back in and added. Great vol and tape signs. 

SPY turned up with QQQs for second with vol, and now dropped again, starting to get choppy.

Into top TL from vwap drop. 

QQQ and SPY making new pivot highs. Internals failed to make new lows. Into TL 

Real shame, stuffed me hard, back to near breakeven and cut for decent win. Just short of hitting PT but again market chopping and dropping lower. 

COST

Straight line lower. No pb along with market. Thinking its way overdone. Waiting

Got it with over ext and SPY pull up. Added twice as we tested lower, saw more buying and market turning up with internals. 

Into other big TL from hod.. Expecting pops. 

No pops but moving ok. Gotta deal for now. 5min 9ma almost in play. Vol bump slightly. Not great, will cut for tiny loss if comes back on me. 

Just short of PT and we got major stuff candle lower. Market is ok not great, looking worse now. Spread got super wide. Was tight whole move up suddenly got to .40cent spread.  

Market dumped more, COST reacted, all out. Not dealing with it. 

SPY

scalp setup. Beauty too. Super tight with 9/20/50. ad great pop to start but I got terrible fills. ANd then immediately stuffed me to stop loss and got out. And then tight away never dropped lower and made another move higher. Really choppy action took a big L. 

Well a really hard day. Tons of scalps. No good wins. No good follow up. It was a day to take what you can get and get the hell out and run away. No clean big picture moves. Just a hard day to trade. Wasnt planning on seeing the sell so avoided that completely and thats fine. 

Im not sure how I can better recognize this kind of environment where I need to look to take all off on quick moves, rather than hold for as much as I can get. 

I suppose i could look at our D picutre and clearly were overshot quite a bit on SPY, so lots of longs getting out on this recent action. Leads to obviously lots of selling, but lots of dip buyers as well. and I suppose that makes for this choppy action after the sell was done. 

Also none of these reversal trades got quite as over extended as Id like to see them. No v-shape recoveries and maybe thats the key takeaway here. Lots of ok scalp setups, but no serious A+ and maybe thats my cue to look for the quick buck, rather than the multi dollar v shape hold as we might want vwap. 

I think thats it. Becuase in all of my reversal trades/scalps, I was decently profitable for a minute or two, but when I dont get that vshape recovery, or the market isnt acting like that, then thats when I need to run at 1st sign of trouble. Who cares if I miss the move to vwap, thats not what the market is telling me, thats not what I should be expecting. not a 1 size fit all approach here. Will type up reversal/scalp process paper.