Buckle up!! transcript

all right everyone so in today's episode I'm going to give you guys a standard recap and we're going to break down the trades from today you can see that I'm finishing the morning up $3,257 66 which makes it my worst day in a week all right I've been averaging $110,000 a day here for these last one two three four five days plus I had this day back here which was an $88,000 Green Day so I really have been on a nice hot streak you know these last the I guess the last like two weeks or so and I I want to keep it going now unfortunately today I came up a little bit short which is why I'm going to do just a standard recap and not do kind of like a case study of one specific trade or one specific setup because there was nothing today that was really uh outstanding I I think the reason that it came up a little short today was partly because I hesitated this morning on Silo you'll see I didn't even trade it at all Silo is currently the second leading gapper and when I sat down at around 630 6:45 to look at the scans I was pretty disappointed because we only the the leading Gainer at about 645 was only 30% and I was like uhoh this is not good it's looking really slow today I also checked the scanners last night to see if we had anything that was moving after hours that closed really strong but we didn't so I was a little concerned today that it was going to be slower when I saw that scan at 630 645 that reaffirmed that now Silo was up about 30% and I saw it right here around $160 and I said you know I don't know I'm not sure this one's a little cheaper uh I I don't think it's going to work and I I was wrong that was that was the wrong call on that one um because it did end up working pretty nicely I I I could have easily jumped in it right here but I just thought it's a little thickly traded it's a little cheap I don't know so I passed on it it goes up to $1.70 and I'm like well I don't know if I want to get in here it's still pretty thickly traded it goes up to $188 $190 $2 it holds two it goes up to 217 I'm like well I can't CH Chase it up here it goes up to 225 big seller dips down squeezes back up here to 235 topping tail rejects squeezes back up here to 250 topping tail rejects up to 257 topping tail Rejects and so you know look if I had bought 5,000 10,000 shares and scaled into it I could up $10,000 today just probably from trades on Silo but I ended up you know kind of discounting it just just thinking it wasn't as good of a setup and uh so I've got nothing to show for it so you could see um Silo came into this daily resistance here around 257 history of this red candle 200 moving average resistance here at 170 which was sort of an issue early pre-market anyways uh you know it is what it is the fact is I suppose this doesn't fall within my perfect um criteria in terms of price the price is a little too cheap for me this isn't usually where I would do super well so I probably would have ended up churning quite a lot of commissions if I was jumping in jumping out and I don't actually know if I would have made $10,000 on this stock maybe a couple thousand so so no trades on Silo all right so I'm sitting here uh First Trade yesterday was at 7:00 a.m. like right right at 6:58 7: a.m. and then had a couple other trades cuz we had snci uh yesterday that had news that broke right at 7 so that gave us that squeeze here from 450 up to 8 that was what gave me you know such a nice green day yesterday today we didn't have anything like that at 7 A.M 7:30 still nothing nothing really good now we did have um we had a couple stocks that popped up with news asns had news this morning um it no I'm sorry umvs is the one that had news this morning um this one popped up and rejected on the news it kind of rallied back up but didn't hold we also had bti this one had news you'll see the chart pop and drop big rejection um atgl uh really unfortunately there was a trend this morning where a lot of these stocks were popping up rejected so come 7:30 nothing 740 I see LC hitting the scanner and LC I initially was like no not going to jump in this one and the reason I'm not going to jump in it is because we just saw three or four stocks pop up and reject so uh lasc pops up right here and then it rejects okay so let me zoom in on this so it pops up right through here and rejects so I'm like nope not interested but then it bounces back up to 230 and now I'm starting to think well wait a second this is curling so I got in uh right here as we broke over right about here as we broke over $2.35 and I added at 245 and then it goes up to 260 270 so I added it 265 and I'm starting to think all right we break 265 we're looking at 75 85 and move to three and then it stalled out so I made 1,300 bucks on it which was a green trade but rather than sell at the top I was adding I was looking for a bigger move I thought you know all of a sudden it goes up 30 40 cents in one candle I'm getting excited and then it just stalled out the float on this 8.9 million 8.69 million shares a little higher had some news daily chart you know above the 200 no real issue but look at the chart now it's actually down on the day 3% so that's not great didn't hold up next one one um was P at 9:00 a.m. so then I didn't take a single trade for over an hour and then P hit the scanner and I jumped in this now this was a close call because again total Rejection it did not hold up I got in at $1.36 so I bought up here and then I took profit at about $150 we it looked for a second like we were going to really keep going and then it just stalled out again so on this one it hit my scanner and you can see all of a sudden this thing rips through a dollar and it's pretty much just going parabolic you have this momentary pullback see how this candle has a bottoming tail so here it dipped and when it came back up I got in so that's where I got in right there and it hit a high of 60 and then again stopped out I had I had to stop out right so that was P then um almost immediately following cost squeezes up so K OSS that one starts to move higher and I jumped on that momentum uh just taking a small position for the break of uh what let's see what was it it was um just look at the my entry I added at 975 uh anticipating the break a 10 and we got a squeeze on this up to about 1025 so so that was that was nice ended up pushing a little higher as the day went on but not that exciting I guess and then LP pa um you know this one I got one trade on it and I made 60 bucks um whatever it's not much it's got a daily level here at about $24 um $25 a share right in this area if it can break and hold Above This level then we've got some room for a move higher and that's interesting but if we can't then well there's nothing there's nothing to trade so we'll see if this makes new highs the problem with LPA is that the price is now a little higher it's it's thinly traded it has big spreads and so it carries a lot of risk is today the day where my p&l is showing that I can afford to take that risk no I would say I can't afford to take that risk I got to be grateful for what I've got and live to trade another day so I think that's the safe move it's a little more conservative I am definitely in a place on the month where you know I could take more risk we've had a you know I mean it's been a terrific month of July so far uh however on the other hand we still have two weeks left and if I can just keep my head down and stay disciplined and not take crazy amounts of risk I've got a good shot at breaking 100 Grand I'm at 69,000 on the month right now and that's before today's trades so that's going to put me up to 70 you know 2,000 on the month 28,000 to go so if I can average $3,000 a day for the rest of the month I'm going to have a great month 100K is Within Reach so you know I'm going to stretch I'm going to reach for it we'll see if it happens it may not but I I think I've got a good shot at it now that means I've got to keep my head in the game and stay focused and not get sloppy not start taking you know crazy amounts of risk just because I've you know got a little bit of a cushion uh I suppose if and and for what it's worth LPA is not really the one to take a lot of risk on cuz it it's just not the right price float kind of combination it's just got a lot of risk on it uh now if there was one snci or whatever it was scni yesterday I took more risk on that and that was right uh it was it was in my price range you know 5 to 10 it's a good price range to be aggressive so you know look tomorrow we may end up having a stock either this afternoon that closes strong and then goes into tomorrow for continuation or we may just end up having a fresh stock with breaking news that gives us a move like scni and I'm ready to step up to the plate and be aggressive when I see a stock that really closely meets my criteria for having like some serious potential especially in the context of what's working in this market right now so that's kind of my outlook here um you know obviously my recap for today only traded four stocks so didn't trade as many as I've traded on other days uh also note on LPA this is an AMX listed stock which means we can't see halt resumptions so if it halts we won't see the resumption price that's going to be a little bit of a risk factor as well well um and as you could see from these spreads you got to be prepared for a bit of a roller coaster ride on this type of stock it it the spread seems to move without even orders going through so I don't know what's going on there but um if you end up trading it good luck manage your risk even for me I was only trading with small size 250 share blocks I'm not going to punch 2,000 shares on this and be down six grand and you know 90 seconds it's just not worth it so so know your sweet spot know where you're doing well lean in on that and today's are days that we'll test uh days like today today is one of the days that will test your patience so if you're having a hard time being patient there's nothing wrong with getting up shutting it down and walking away and saying you know what I'll live you trade another day I'll be back tomorrow and I don't need to know what happens for the rest of the day today I can check tonight when the Market's closed and for the rest of the day I get to walk away knowing that I did a good job so that's it for manage your risk take it slow if you want to do a twoe trial of course there's a link down in the description so I hope you guys do that and I thank you as always for tuning into these episodes okay I'll see you for the next upload tomorrow