What a wild day. This is definitely my kind of action. I’m not sure exactly what it is about the action right now that just feels so comfortable to me, but nonetheless I love it. I see both short and long (intraday) opportunities that are just killer and they make for amazing days.
There definitely has been some kind of a shift and I’m doing my best to adapt to the current reality that we have. I’m working hard to not be stuck in a bias, but taking the price as it shows itself on the tape and just work with that. Now with that being said I’m still mainly scanning for short setups, but I’m definitely looking for long setups within the bigger picture ideas that I’m generating. I will start to actively look for long setups at some point in the near future, but for now I’m just putting one foot in front of the other to try and walk towards this new mark.
I’ve been noticing that the air is coming out of all of the 2020 hype names and there are a TON of bag holders left behind right now. I’m preparing for some wild moves though as we haven’t see a correction like this across the board in a while and it feels like a bunch of people that were up big are now getting some SEROIUS pressure applied. If you’re reading this just be careful out there…feels like a big reckoning is still brewing.
There are tons of people out there that have just been following big names like ARK into trades blindly and currently are now hurting because they never formulated a trading plan of their own. This is a reminder to myself to not follow the next big thing, but to do my own research, reviews, and digging and be 100% confident in my own findings.
Lastly the action off the open today again was incredible and I didn’t pull the trigger on a KILLER setup I saw on plug…and well it lead to me missing on a 7point move. I need to be better about pulling the trigger on these moves, but keeping my levels of risk in check …really just an incredible opportunity short and then long, which I missed both sides of unfortunately.
Nice read here, and happy that I waited for the TOPS like I’ve been talking about, but I picked out of my positions too early on the re-adds at the 32.90’s level. The big issues there was that I added to my position in the lows of the dip opposed to waiting for the retest bounce to add some more size on. I think I missed like 3pts in all from this which sucks but I was green on the day, so I can’t complain about it. Adding to my position at the right time is JUST as important as my initial entries, so I need to be better about protecting my average and adding responsibly
What a ride here. I kept out of it premarket because it felt like it could go and sure enough Cramer came on and gave it a bit push. I SHOULD have takin that vwap push and was just too slow on the draws, so I missed a nice 1 point move a couple of times. I definitely need a redo here. I had the right idea, but just not the best covers. I need to do a better job of just setting my targets and leaving the darn thing alone.