One Last Trade Before The Long Weekend... transcript

What's up everyone? All right, in today's episode, I'm going to break down my trades for the day. It's Thursday and we're going into the long weekend with markets closed tomorrow in observance of the 4th of July, which is on Saturday. So, we've got a 3-day weekend and it was kind of my expectation that today would be pretty slow going into the weekend, but that we had the possibility of a wildcard move. What is that?

Well, on a day when you expect nothing, most stocks are not moving very much. you don't have any big gainers because most companies aren't putting out big headlines on a Thursday before the long weekend. But if you have one stock that does start to squeeze and it becomes obvious for lack of anything else to trade, everyone focuses on that one stock that's moving and it can actually do exceptionally well. That's the wildcard effect.

You don't get it every Friday or Thursday before a long weekend, but it can happen. So, I came into the market this morning sort of planning that there was a high likelihood I wouldn't take any trades at all. Last Friday, I was red, ended up being red on the week. This week, I'm green, but today is and yesterday are only the first two days of July. So, the new month started and yesterday was a small green day. And so, I thought maybe, you know, let's not push it.

I don't want to dig the hole and be red on the month of July and then be frustrated thinking about that over the weekend. So, that was sort of my attitude coming into the day. And that was reaffirmed as I looked at the scanners because we really didn't have anything that was that interesting. We had CWD which was on the scanners. We had USDE. We had DSY. I mean these were stocks that were up a bit but none of them were really set up for a trade.

Uh yesterday we had had TC which was up in pre-market but then sold off at the opening bell and kind of through the rest of premarket. So since I really didn't see anything that was that interesting um I just sat and I had some other things I was working on and you know listening to the scanners but you know there was really nothing to trade. So, if we go back to the beginning of the day on the scanners, we had Wheeler Investment Real Estate Investment Trust popped up.

Not interested in that. Let it go. Didn't take any trades. DSY, you know, popped up last couple weeks ago, made a huge move and then sold off. Not interested. YD has a higher flow. CISS, this popped up. AHMA, this is the first stock that popped up. Um, you know, I just wasn't sure about it, but I saw the daily chart with these red candles. it pops up and immediately almost immediately rejects and I was like, well, you know, that's it.

Then there were some big sellers up here around $3. So, that was AHMA. Then we had CWD again, too cheap. Um, JFB popped up for a second. TGL, wasn't really sure. CLRO, this one pops up, doesn't end up holding. And then CX pops up. Now on CX, we had a headline on this stock and it goes from $3 to six bucks. So it's a pretty big move. Somewhat recent reverse split, no big days of volume recently. And so when it starts popping up, I'm like, okay, you know what?

Maybe I can work with this. So we end up initially popping up to 350. We sell off, then we curl up right here, and then we start to pull away. And this ends up making a pretty impressive move. I mean, you know, overall it does. I'm up $8,917.32 on it. It's not a home run, but it's not bad either. So, I didn't get in this until it was breaking over five. So, I jumped in basically this micro pullback taps five, pulls back.

I jump in right here and we get a squeeze from five up to six. Now, in that first trade, I'm in at 470 um 558. I end up taking half off the table at 547 and 548. So, made a little money and then I add back 20,000 shares at 576 and I end up selling that um as you can see for a loss. So, I was up like I don't know five grand or whatever and then I ended up giving back that profit and being uh down like $300 and then right through here I bought this dip and ends up squeezing back up to six and I took the profit here.

When we came back to six, there was a big seller up there. And so I took some profit at 607 and the rest I was selling at like 649 or 549 and 542 as it came back down. And then I was like, well, this thing is just really heavy through this area. I was looking and hoping maybe for a curl, but it just couldn't do it and ended up selling off more. So that was the only stock I traded. You know, I I kind of fumbled the first trade.

The second trade was better. Well, first trade was good. Second trade was red. Third trade was was green. And so, you know, whatever. It's a it's a small green day. Um here, $8,900, but I'm continuing to add a little bit of profit and a little bit of a cushion for the month of uh July. Right. Yesterday was a similar size green day. So, $16,000 in the green for these first two days. And now that, you know, has me in a nice spot going into Monday.

Now, I've got a little bit of a cushion. So going into Monday, if we end up having uh some decent momentum next week, then I can size up and start to get July off to a really good start. So that's kind of where I'm at. Um you know, again, I'm glad to have broken the ice and gotten a trade, but there was nothing really exceptional. So just a small green day. In total though, this week was really good. We had some great momentum.

So, I think that um that is a good indicator that we're still seeing great opportunities in the market and um and hopefully that we'll continue to see them um through through the month of July. All right, so reminder as always um trading is risky. My results aren't typical. So, please manage your risk, take it slow, and always practice in a simulator before putting real money on the line. I will see you uh for the next recap, which will be on my small account challenge coming a little bit later today.