Today’s MOST Obvious Stock! transcript

all right everyone so in today's episode I'm going to break down the trades from this morning we're going to go over the stocks I traded it is another Green Day locking up base hits here and I am inside my mobile command center my traveling trading station this is my mobile office it's in the back of a sprinter van a conversion van and I'm uh actually streaming trading and making this episode here from Canada so one of the things that has really made this possible uh is the advances in internet speed it is I mean even this year versus last year Improvement so I've been doing this with Starling for the last three years um traveling throughout the US and and streaming and trading and doing these episodes and this has um so far been the best of the three years in terms of Internet stability lower latency just better connectivity it's like it just getting better which is so awesome I'm excited for even just a few years from now because it's keep getting better so anyway so this morning um kind of an interesting day last night I sat down one of the first things I do um usually in the morning is I check my top gapper scanner and just look at what's gapping up but what I also will do is I'll check um my top after hours gainers and I did that last night before I went to bed just to kind of see like what's moving um you know after hours and I saw jbd was um a big Gainer so if I pull up jbd this one's kind of interesting so it ends up iping yesterday and of course you know look of the draw that this is a day that we end up actually getting a really nice move but later in the day in the afternoon and of course I missed it so this thing goes from about $6 all the way up to $12 a share pulls back and then after hours squeezes up to 16 granted it does it on like 60,000 shares of volume after hours so very very thinly traded pulls back at 400 a.m. on 98,000 shares of volume it spikes up to a high of 1950 and from there it just starts selling off and it goes lower and lower and lower and lower and and honestly this was kind of a drag I was disappointed because I was like you know it's the right combination of float like this one could work um I'm if you hear some road noise I'm kind of near a road right now but um hopefully it's not too loud for you so I pulled up the filings on this um jbd I and I was like is was this the ticker no uh JB yeah jbd um so jbd because I was trying to figure out I was like well you know what's the float how many shares so 2.9 Million shares so I'm like okay it's a lower float stock what else do we know about it we kind of scroll down try to get a sense of um just some details about the company and one of the things that I was thinking in general is that we haven't seen very many good small cap IPOs in a while to be honest so I was sort of skeptical about you know how how much it would go up and and what it would really do um you know but when I saw it on the scan this morning I I or last night I was like clearly it's moving so it's worth watching and then when I pulled it up this morning it was already selling off so at that point I was like all right that's out of play June was on the scans last night as well juun NE and dropped right back down pre-market so that was kind of weird just totally back to dead and then this morning at about 6:30 BK was our leading gapper up over 100% hi what' you say you're hungry all right see if you could find something I see some carrots up on the counter there and I see some uh crackers you see you see if you could find one of those items that you might like uh or you could go you could also go ask your granny for some help if you want let me finish this video and then I'll come help you some morees that sound good all right we'll get one of those things for you when I finish this episode so uh so BK double tops at 550 um premarket but when I first pulled it up this is what I saw this kind of 4 a.

Spike kind of like jbd and I thought all right well I don't love the 4 a.m. Spike but this might work and then coming right into 7: a.m. this thing starts squeezing it starts pulling away so what I ended up doing on this one was on the one minute chart coming into 7: a.m. I took my first trade um it starts to squeeze right here at 702 I bought um and I did a little kind of micro pullback dip in this area and I made $39 I get in it doesn't end up doing really what I thought I stop out then I got back in as it kind of pushes a little higher up here and then I stopped out a second time and I was like you know what this thing is kind of a grinder it is it it's a little bit difficult so yeah so first trade was in at 440 out at 442 I was up like 15 cents a share but stopped out flat then I got back in at 64 and got out at 6 six and at that point I was like this thing is frustrating so I got up for a second and I come back and I see that it proceeded to have two four six eight nine green candles in a row it just kind of kept grinding higher and so I ended up um buying this dip down here and catching a a pop back up here and and that was actually my best trade on it so that gave me400 bucks which you know is green it's not a home run but again not trying to hit hit home runs just trying to catch base hits but I I could have done better on this but I kind of fumbled it so sort of fumbled BK I had I think it was four trades on it um three winners and one loser so 75% accuracy on on that name uh so 1,400 bucks once I get my cushion now I can start taking a little bit more risk and a little more share size and that's when VX popped up v-x now the thing with vrax is that initially I was like I don't know you know had an offering recently it feels like it's we're probably On The Backs side of this big move here I'm just not sure if we're going to see like another leg higher I kind of feel like we're not um the volume today however is decent and it does have news this morning so we've got a catalyst on it and anyways so finally the price action was strong enough that I was like you know what I'll I'll take a trade so it squeezes up here no trade trade no trade no trade and then right through here I say you know I'm going to take a trade for the break of six so right in here I get in for the break of six we squeeze up to 610 and I jump out of that with $1,500 of profit so first trade 10,000 shares in and out 15 cents which is good because you know now I had a cushion I could take a little bit of risk the next trade um it pulls back and I decide you know I'm just going to kind of sit sit on this for a second um so at seven let's see 734 I take a dip trade off of six right here it bounces up to 611 I take some profit and that gives me um a little bit more now I'm up you know $1,700 on it and I take another trade at 613 and get out as it sort of tops wherever that was around 617 so that got me to about where I'm at right now 3500 which is you know a nice Green Day just BAS basically exactly the same as the last couple days it's not a home run but you know slow and steady wins the race so then um I don't trade it through this area we have this nasty rejection candle right here it flushes down then it comes back up right through here and as it squeezes back up hang on one second I'm just going to close that in case the wind is making too much noise so then it it does this nasty false breakout candle right here it pops up it jams down right there then it comes up and and does it again so now we're seeing some higher volume rejections and then at the open we dip down and then we rip into a halt which truthfully surprised me I did not see that coming and I did not trade going into that hle so we halt up and then we open we dip down I bought the dip and we rip up to 760 I made another, bucks now I'm up 4,500 and I'm like Hey we're actually getting pretty close to that $5,000 daily goal here I'm I'm sort of like impressed this is pretty good so it dips down here I take a nice trade um off of seven that gives me this little bounce here and then I got back in at 740 and I was like I think we're going to do a wick reclaim and squeeze back to 760 and then it dumps back to 7115 and I lost 1,000 bucks so within the span of you know 3 minutes here what five minutes whatever I made a th000 lost 1,000 so I went to 4500 then back to 3500 and at that point I was like well those two trades just cancel each other out um and that was my biggest loser of the day so you know at this point I ended on my biggest loser of the day because I'm I'm now locking it up and I don't like to end on a loser but it just so happened that I lost there and then I kind of was watching it to see if there'd be another setup but broke down so there was no more trades on that one and then if we go back to jbd this one you know it's really ridiculous because it had that pop at 4 a.m. and then it's just selling off selling off selling off it halts up at the open and then instantly halts down halts down a second time halts down a third time and then it resumes down here and it starts to bounce and I was like okay I'm going to get in this thing but I'm watching the level two and on the level to there was a 10,000 share seller at $10 and what I was waiting for was it to go 10987654321 and I was going to jump in just before it breaks all of a sudden it broke in like one order and it goes immediately to 1048 and it's halted up and I was like well I missed it so it halted up goes up 50 cents a share squeezes up to 11 and then it drops back down before rallying back up to 12 so I ended up missing that trade but of course not wanting to chase it which was the right move um and and even if it curls back up and goes through 15 here it doesn't change the fact that we're still well off our pre-market highs technically which are up at 1950 so that chart is kind of a mess we also had this stock ACAC which is a special acquisition company it's a spa this one was kind of you know these are funny because sometimes they'll make these big moves which doesn't they don't doesn't really make sense but this did put in a move this morning um it goes right here as you can see from 15 to 22 dips down curls back up to 20 and I watched it in here but noted high volume selling so there was no trigger I also noticed um on my top gainers scanner um which one was it um there was one that started to pop up a maybe um no um Al a a uh no I can't remember which one it was um I don't even think it was on this scanner either anyways it was a stock that we traded last week maybe I'll find it on the continuation scanner uh it hit my top Gainer scanner but it's not on that scanner anymore because it dropped down uh too much today it's not on here either all right doesn't matter but there was a stock that was on the scans that had um like seven or eight consecutive red days and I kind of thought oh seven or eight consecutive red days like if this thing bounces um you know we could get a nice bounce day so I sort of had my eye on that for a maybe but I I really it was only a maybe and the fact is there just wasn't enough volume that was kind of the problem today we had stocks that were popping up but none of them really had enough volume and are you my little helper yeah and you do you have your charts where are your charts you show me your charts those are your charts yep you've got your charts here for what do we have we've got GameStop got GameStop we've got um our scanners we've got our news feed so you're you are busy at work I'm working too so anyways um yeah so jdbi that was a no oh bof okay so if we look right now at our top gainers I traded BK and and I traded vrax these top gainers of course are moving the top gappers vrax and B BSL K but what about bof I didn't trade bof so why not so the thing with BF was that when it first hit my scanner it was sort of right under a dollar a share and I just knew that there'd be a lot of sellers careful with that there'd be a lot of sellers at a dollar so I didn't want to trade it right here it came up double tops to a dollar no surprise pulls back comes back up again but but again in this area I was just like it's not worth it I'm not going to be able to make enough on this so it's just it's just not worth it so I said nope not going to trade that so nothing on that one um at the open it does put in a nice squeeze and halts up pushes a little higher and I looked at I said how how many shares would I have to buy to make any decent money on this it's just the risk to reward isn't there high volume selling high volume selling so no trades on bof asst pulled it up you know I was like ah technically we're breaking the 200 today but I don't know it just I just wasn't feeling it uh lower volume high volume day a couple days ago so the relative volume's a little lower I didn't see a fresh Catalyst xcur I did not like this setup kind of right under the 200 moving average near resistance here I just thought thought no that's not going to work and then I kind of started feeling like you know what I feel like I'm getting a little desperate like it's 9:45 10:00 a.m. 10:15 I gave back 1,000 bucks and now I'm trying to kind of make back what I lost and I was just like is it really worth it like who cares it it's choppy today and I I feel like if I keep pushing it I'm just going to I'm just going to lose lose like trade the market you're in not the market you want to be in I want to be in a market where I'm up you know $10,000 I would love that but that's not today and if I try to you know stretch and and hit that kind of goal today I'm G to have to really lower my quality threshold because there's nothing a quality so I would be forced to take B and C quality setups which would be you know like GDC like this is a stock that has low relative volume yes it's technically first daily candle to make a new high but it's also a Chinese stock these on can be really tricky the volume Today just isn't there it's not worth it like this is just even if it does bounce the liquidity on it's going to be poor so it's like you know today's just not a day to be aggressive so what I should really do is I should you know batten down the hatches I should be conservative and wait for the next day when things actually start to pick up and then that's the day where I should Double Down dig deep and spend an extra couple hours sitting here trading even though I'm in my traveling TR trading station and I'm in Canada and I want to be able to you know decompress and relax and stuff like that I'm going to trade every day but today's a day that is not calling for me to dig deep trade with big size or spend extra time trading today is a day where it makes a lot more sense for me just to bat down the hatches get through this choppy day and live to trade another day so you know what green is good sitting here with $3,500 I think that's a terrific day why overstay my welcome right and as it turns out I ended up doing that by about 7:30 a.m. and what I've made past 7:30 ended up being a wash but I had to stay longer because there was definitely a chance that we would have breaking news at 8 or 8:30 or 9 that would give me a nice trade and at that point I had a cushion to take some risk so you know I took a little risk at the open on vrax got myself up 4500 gave it right back and at that point I was like N I just don't think it's worth pushing my luck too much more so that's where I sit right now those of you guys who have not already checked out a two-e trial at Warrior trading there'll be a link Pinn at the top of the comments Linked In the description so you can check out twoe trial during that trial you're going to have access to the first six chapters of day trading the basics my um foundational course which I think you guys will really enjoy you'll also have access to the first chapter of day trading strategies and scaling and will'll give you access to some live trading archives and some Mentor sessions so make sure you check out that twoe trial it's two weeks for 20 bucks you're going to learn a ton you're going to get a sense of what the software is like you're going to be able to watch me trade in real time two weeks for 20 bucks it seems like a great deal so hope you guys take advantage of that and I will be back at it live streaming bright and early tomorrow morning hoping that we have a better scan but perfectly willing to trade the market that's right in front of me reminder as always manage your risk take it slow and practice a simulator before you put real money on the line because in case you hadn't heard my results are not typical and trading is risky I'll see you guys tomorrow