$IFBD goes up 150% then drops 80%. WHAT in the world?! transcript

all right so today I got out while the going was good we had a wild morning in fact the leading gapper which was up over 150% is currently down 50% on the day how does that happen oh wait I know it's a Chinese stock volatility all right let's jump onto the charts so IFD this thing was wild today first of all uh when I first opened my scans this morning at about 6:00 a.m. 6:30 I saw it had made a big move popping up to six and then back to four and I thought no I don't know I'm not sure if that's going to be one that is going to work I mean it's pulled back quite a bit yes it was still up versus yesterday's close of like 270 but I wasn't sure it was going to be in play all right come 7 a.m. this thing surges through five six7 a share goes all the way up to 890 and I missed the whole move I missed that whole move cuz I had sort of written off the scans this morning I was like I'll sit down around 7:30 and then well I missed a big move so that really bummed me out but I did trade it I broke the ice on it um and my first trade was actually buying a dip so we had uh two for five consecutive red candles and then right down here we had this little bottoming tail so I got in down here at um six let's see my first entry was at $687 bought 3,000 shares and it bounced here all the way up to 750 that was awesome I was like not expecting that so 65 Cent win uh squeezes up there to a high of 750 drops back down uh it ended up going lower curling back up and in this area was just choppy so I was like ah I'm going to leave it alone uh it sells off and then all of a sudden look at this pop right here it squeezes right here from Seven all the way up to a high of 778 and at that moment I thought is this thing going to go back up to the new high of day uh but it didn't in any case I my best trades on it were well this trade right here uh I got another dip trade let's see in this area as it broke over seven it pops up to 648 pulls back I got in it squeezes up to seven dips down and then I missed this trade but I got a small dip down here off of like 738 and it popped back up to 750 so in total on ifb I only made about $1,400 I missed the big move but I was shocked to see this level of selling this thing I mean it just totally gave it all up I mean this was just a ridiculous selloff so you know anyways I didn't trade any of it so I didn't lose uh my profit on it but I could have seen how Traders tried to buy dips and it just kept going lower and lower and lower so ifpd was my first trade and my second was a very unusual trade vktx vktx I bought at $768 and look at this this expensive stock I bought it right in here in this green candle ends up going to a high of $87 a share 10 points for my initial entry not bad made 3,000 bucks on it um I bought 250 share starter and then I added as it squeezed higher to 500 shares that was my first trade my second trade I took a 250 share starter and then added to 750 shares but uh my first entry was right down here and the reason I got in here was because there was a a big buyer on the bid at 74 was I think it was 10,000 shares which is like a three4 of a million dollar order so a big order on the bid and I said you know what I'm going to jump in this let's see what it wants to do first trade was to squeeze up to 84 it pulls back and then got this trade right here as it pulled away from 84 and went up to 8 7 so two nice trades on that I wouldn't typically trade this price or this float but the stock was moving and I felt like I could manage my risk so at the end of the day if you can manage your risk it's worth uh taking a stab so with relatively low risk it did quite well on that one and that put me up over uh 4,400 on the day then we had sprc sprc I approached with a degree of caution and skepticism which was definitely the right move it did not hold it gains but when it first started to pop up I'll show you on the 10-second chart um this thing squeezed from and it did have news it squeezed from about 410 here up to uh 418 420 and it goes all the way up to $512 right here uh sorry um hits 512 on this candle right here was it this one this one and then it drops down and as it dipped down here I was watching the level too and I got a chance to take a nice little dip trade on it I bought at 483 and it immediately popped up to a high of 527 I took some profit and then I bought another dip down here off of five and on this one we actually popped up to 530 and I added on this uh one minute micro pullback or 10-second micro pullback right there and we ended up getting a squeeze up to [Music] $62 so you know I made3 00 bucks on it nothing nothing crazy but not bad so at my Peak I was up $6,000 just about 6,000 and then phun came up and because it's a reverse split I thought I'll take a stab at it I get in at 10 it squeezes up to 1050 and then it drops here down to 941 fortunately I was able to manage my risk lost 160 bucks not a big deal and then WTH this one's funny because so people were asking me if I thought this was going to make a move and I was like I don't really think so and by the way I traded it last week and I lost on it so I I don't think so but it started to pop up and I thought okay well I like the daily chart so if it's going to go I'll give it a shot and what convinced me to buy was that there was a 40,000 share buyer at $5.50 so I bought at 565 2,000 shares and then you know what happened to that buyer poof gone it just disappeared it was a spoof someone put a fake order on there to probably convince people to buy and I fell into the Trap and I lost 1,300 bucks and I was like you know what that's enough of that for me I'm going to call it a day so after um three consecutive losers two losses here and one small loss on IBD I said I'm done 6,000 was my high $4,200 is good enough for me that a solid Green Day why overstay my welcome right when it's hot I'm going to dig deep I'm going to lean in I'm going to try to be aggressive and when it's getting choppy like this I'm stepping out of the way I'm not going to feed the Bears I'm not going to feed this kind of price action I'm not going to trade it so uh so I think that was the right move um the only one Jan X J anx uh this is the only one really that's kept going at the open it's also easy to borrow in a higher float similar to vktx it has made a move but I just never really broke the ice on it it wasn't going quite as parabolic so that's why I just didn't get into it uh but it's up 200% CX aai is up 300 uh sorry 100% priced at $3 and 14 cents this one's gone higher it's coming up to the 200 moving average vktx up almost 100% WG up 42% this one's uh one that what we've traded in the past has has a ton of room to the 200 moving average but right now is not uh set up for for a good trade um I wanted to look briefly at what was it um let's see there's a couple others on the scans just going to check CX yep looked at that um Jan X yep saw that that was good um but you know it's funny cuz the that uh thinking back on that trade on vktx it was the 10 ,000 share bidder at 74 that got me to press the buy button but then it was a fake bid on uh WTH that got me to do that and I I lost I mean in net there's no question that reading level two I'm more profitable as a result but uh today I just ended up getting uh caught in that trap on WTH that was a bummer but uh yeah so I guess uh there was one I was going to look at but I can't remember now so anyways for me the cleanest trade well the cleanest trade I missed this morning which is a real shame right at 7:00 a.m.

I just right before 7 a.m. actually uh on ifb but you know it gave back all of the gains so this one just super weak was not able to hold up I don't there's no real reason why it sold off this much but it's down like 80% off its high this is unreal this is really a huge selloff it's a terrible Candle on the daily chart that's a giant bearish engulfing candle so this stock is is dead it's ruined um I don't know why it had such a big selloff but this is what happens with a lot of these Chinese stocks you know they they move up and then you have the day where you know the bottom falls out and they drop and that's what happened on this one here I mean there's so many cc um CT oh it does doesn't matter anyways so uh overall Market though S&P 500 um you know I glan at the S&P 500 to kind of see where we're at we're in an interesting channel here kind of uh a a tight Channel sort of like right in here yeah I like this line because this connects back in this area here and then what I'll usually do is if I find a good trend line um sometimes I'll just duplicate it and see if we're in like a perfect Channel I don't I don't know I guess you could maybe put one there sort of has support here and here and then resistance here so we're in a a pretty steep Channel right now the iwm for what it's worth which is the small cap index um I I don't look as closely at the iwm it yes it's a reflection of the small cap index but I'm not trading the general stocks I'm trading the exceptions and there's always you know a couple stocks that are doing something exceptional um I mentioned earlier today that during 2020 um 2021 the iwm was sideways and I had a crazy good year 2022 it was red I also had a really good year 2023 you know it was more or less sideways and it was a slow year so like based on the iwm here it's you would probably say I made a lot of money here didn't make money here lost money here and was like sideways here if my trading correlated but it doesn't it really it really doesn't um not not that directly like yes when the iwm was super strong my trading was also super strong this was during 2020 so it does correlate I suppose a little bit but not to the extent that some people might think I trade small caps but I'm trading the stocks each day that have you know a catalyst that have some type of something that's driving the price action and although that can be a little questionable what it is I think it was uh this year with a lot of these Chinese stocks or in the last year that's that's been my focus so anyways today um you know a a small green day well $4,000 isn't that bad it's a decent Green Day and it's been a really solid month this has been my biggest green month here in a while um probably over $100,000 of profit on the month or darn close to it so definitely pleased with that it always feels good to have a solid month early in the year just to sort of build that cushion and now you know if it does get slow for a couple weeks or whatever it's like I I've put a little away so I can be all right with it now if you're someone who hasn't put a little profit away I still want you to try to be okay with it being slow because if it's slow what are you how much are you going to make right if it's really slow yes you can kind of spin your wheels you could take some trades but realistically you're going to make a lot more when things pick up so the biggest battle is not incurring unnecessary losses when it's slow not going into a big draw down not blowing up your account like pce yourself hot markets will come back they are always like this EB and flow and if we think about in you know eight days early earlier this month when it was really hot in those eight days I made more than I might make in an entire month or three two three months even of cold markets so when it's hot lean in be aggressive try to make as much as you can and then as soon as it cools off pull that money out of your account so you don't lose it go back to small size and then when things start to pick back up your profits from the first couple days your account's going to grow and then from that you can keep growing during the hot streak I I that to me is what makes sense so anyways uh as always my results aren't typical this is just my experience trading but I hope you find it interesting and helpful and uh as always I hope you hit the thumbs up And subscribe to the channel and I'll see you for uh live streaming Warrior Pro members bright and early tomorrow and uh my recap I'll post uh later tomorrow afternoon all right thanks as always for tuning in I'll see you guys real soon