A 500% Short Squeeze Just Happened! transcript

all right everyone so we're going to jump in here with a case study today we had a continuation setup on WIA which was uh pretty impressive I had uh my biggest winners on it today this was the stock that I made the most on but I also had my biggest losers on it today it was volatile volatility however does create opportunity and so we're going to do a deep dive here okay so step one how do I find the stocks uh I find these on my scanners and WIA I found on uh three different scanners it was on my continuation scanner because it has had a 400% plus range in the last two weeks stocks that have big ranges like this I like to keep an eye on because they have the potential to give us continuation it wasn't at the top of that scan it doesn't have the most range but it was on the scan and it actually had the most volume of anything that was on the scan which if you sort by volume is significant um second it was on my high of day momentum scanner at about 7:28 this morning when I took my first trade on it I traded this between about 7:30 and 8:15 and that's actually when I made the bulk of my profit and then I over traded it a little bit and gave back about 40% of my profit that I made in total anyways that happens okay so and we'll talk about um that decision in a moment it was also on my top gainers scanner uh it was not the leading percentage Gainer on the day I think at the most it was up like 80% maybe 90% um ivoo was our leading Gainer but this one is a bit lower priced a bit of a grinder and not really my cup of tea so anyways uh we'll talk about that also in a moment so that was step one now step two once we found a stock that's moving is to understand the Catalyst this had news yesterday yesterday I had a catalyst that's what brought any attention today was a continuation or a follow-through day which I I wasn't really expecting but you never know the daily chart this is my next step to analyze the chart and to look for my entries was not bad yesterday we came up uh on this green candle to a high of about 950 which was about a triple top with these candles back here and it was actually the bottom of a gap which then gave us room up to about 1160 so a two-point Gap from you know 950 to 1150 approximately was pretty nice so when I pulled up my intraday chart this morning this is what I was looking at I was like okay wow yesterday this put in a big move it squeezed from four to 5 to 6 to 7 to 8 all the way to 950 that was awesome it topped at 950 pulled back and then had a little bit of a rejection candle here at 785 it had a topping tail there higher volume red candles on a couple rejections that was more noticeable on the one minute chart and then this morning at about 6:30 it squeezed from about 550 up to $7 it pulled back sort of bounced off of 660 and at that point people were talking about it and they were like oh let's you know see if there's a good trade here but I wasn't really I wasn't really sure about it at that point so what I ended up doing was drawing this blue ascending support trend line right here and notice that it was sort of holding this level bouncing once twice which allowed me to connect the line then it came down again and again and then started to pull away and so right here as it started to pull away which was right around 7:30 a.m. this is actually where I took my first trade on it I bought 2500 shares at about let's see let me pull up my um it was about $7 and uh 27 I believe was my first entry 7 27 uh sorry 737 I was getting in to anticipate the break through the half dollar the half dooll whole dollar right at 750 and I thought if we broke that level we would probably get a move higher so as you could see right here we kind of pul squeezed up we pulled back I bought that as a dip at 737 so it had already hit a little higher and I bought a little bit of a dip uh maybe it was actually right here it squeezing is up to 775 and then it pushes and goes all the way to 8 to 850 so on my first trade as you may recall my goal right now is to be very disciplined about my share size so capped at 5,000 shares from my first trade and I bought 2500 dipping my toe in got in at 737 took profit as it went up to 755 so locking up like 300 bucks it ended up holding the half dollar of 750 it broke it came back held it and I added back at 759 and 761 with a stop at 749 10 cent stop 4,000 shares on this trade it goes up to 775 and I took profit at 778 uh and 775 so locked up about again you know 15 cents of profit but this time on 4,000 shares now I'm up over a th000 bucks with those two trades okay so with that I said said it's time to take off my 5,000 share cap and let's lean in I added 2,000 shares at 795 it came up to eight added another 2,000 added then another uh 3,000 shares to a 5,000 share or 6,000 share position approximately and took profit as it squeezed up to 838 and 850 at that point I was now up over $3,000 on the day I then added at 850 and took profit as it squeezed up to 9 selling at 9008 and 9007 and now I'm up 7,000 on the day all right so really leaning in here being more aggressive added at 925 took profit at 930 small winner added back at 925 uh sold break even trying to do dips and this is actually where I started to get into kind of a little bit of trouble I started overtrading the backside just a little bit um but that was right kind of in this area I wasn't sure but then it did pull away right here and we squeezed up so as we hit our high here of about 1150 I was up just over $10,000 and I did that in about well 15 minutes so I made $10,000 in 15 minutes I then gave back 3,000 off the top it hit a high of 10 1150 and I bought the first dip it goes lower I stop out with a $1,000 loss it flushes even lower I add back at 1050 thinking it's going to bounce and then I stop at at about 950 now I lost two grand on the second trade so now I've given back 30% off the top it does rally back up here and on this rally back up I was able to make back like 1,500 so I got myself back to up 8,500 and then 8,800 and then coming into the open I actually got myself um up to about about 9,626 and then right at the open let me show you the chart at the open on WIA what I was looking at here was um this curling pattern so as it broke 1025 right here I added and as it squeezed up to 11 I took profit and was now up back over 10,000 on the day I was like nice well done but I was looking for a retest to that pre-market high up here at 1050 or sorry 1150 and I really thought we were going to get it so when we pulled back here I bought this dip at 1065 it drops I stop out at like 1060 for a 5cent loss no big deal I got uh back in I got back out a second time again small loss no big deal then it drops here I bought as it curled back up and I added 4,000 shares and I'm like okay I'm looking for this to break and then at the open it dumped all the way to 10:05 and on that trade I gave back about 2,800 bucks which really is annoying so now I'm up $ 6,275 it's a drag that I was able to make 10,000 155 minutes and I wasn't able to turn that into A5 $220,000 day which is what I was trying to do but if we recall my daily goal is 5,000 I crossed the daily goal and once I was above it I said to myself I don't want to go back down below my daily goal so I want to stay above 5,000 if I can and I also said to myself as always if I have three big losses in a row or I give back 50% of my profit I have to stop now if I'd been up 8,000 and I gave back 50% of my profit I'd be up only four grand I'd be below 5,000 which would be also not be good um I hit 10,000 which allowed me to give back 50% and still be at my daily goal which is a very nice position to be in uh however you know $6,000 days are great $10,000 days are even better and it would have been nice if I could have held on to a little bit more of that I did a great job increasing share size and capitalizing on this move and through here I actually was only trading with a Max of 5,000 shares but I caught you know 5000 000 shares in at an average of 1080 and it flushed down to you know 1020 it's still a big loss right I mean it's just the way it is so I I know I don't want to have too many regrets about today because overall you have to step up and take risk if you want to have profit in the market I stepped up to the plate I took some risk and I'm walking away right now was $627 52 more than I had 3 hours ago all right so that's a great day now obviously are there lessons to learn from today I think I I I really think I did a terrific job on this part of the move this drop right here um maybe was an issue because the thing was um I knew that we filled the Gap right here at about 10 1150 but there was so much volume right here I just thought it was going to keep going but I think I got a little T I got a little suck in tunnel vision and you know we'd already gotten the first pullback we' already gotten the second so I think I should have just let this rest and not and kind of maybe lost a thousand off the top but not gone back after that because it was just selling off really hard so I think this drop was not a good one for me to be losing as much as I did on uh the recovery backup is a little riskier after you've had this kind of drop and if we're looking at the macd you know the macd didn't actually cross over until after had come to the double top but um however the macd had crossed over right here but I saw the indicator but I ignored it or I said well I see that but I think that we're going to have a spike of volume at the open that's going to send us through this level well we did but it was to the cell side so I I just was wrong on that and anyways that happened so you know but I did take a trade against macd which is one of the indicators I try to rely on on to avoid false breakouts and then I got caught in a false breakout so I thought I knew better but I was wrong on that and on this one I think I just was a little too aggressive so you know I think part of the aggression today is the fact that I was read on Monday well so I was read on Friday $650 uh and then I was red on Monday by 70 bucks whatever doesn't matter yesterday I was green I was up 2,000 but when I finished the day I was only up like 1,00 and of course I had commissions all those days so I knew I was sort of in a little bit of a dip after the the the small red day on Friday you know just kind of like break even these last three days and I was really looking for something I could sink my teeth into and get aggressive on I felt a little annoyed that I missed this move yesterday on WIA I I was uh you know I had other things I was doing and I wouldn't nor be trading at this time of day but I was just like man we've had such a slow week and then of course you know when we finally have a move it's an odd time where I don't trade it but you know that that's just the way it is and I can't get too upset about that anyways I I was I I knew I would have a little tendency to be a bit more aggressive like finally I'm at bat like time to step up to the plate and swing hard so I'm just glad that I didn't you know load up with like 20,000 shares in any of these areas you know I still even though I took my restriction off and I could have done that I kept myself restrained and so I think that that was a job well done but you know obviously reflecting a little bit on the fact that I gave back almost 40% of the profit that I had that is a little bit more than I'd prefer and it is a little bit of an emotional trigger you know that and that for me was like okay I have to walk away now because if I give back more you know then I'm starting to get a little close to giving you know cutting into to maybe breaking below my daily goal right so I just said you know what let's just walk away here call it a day where you cross the daily goal um but I think I was starting to also count my chickens before they hatched so to speak because I was thinking last week I was up like 13 14,000 the week before I was up 13 14,000 this week so far I'm I'm only up like a th000 bucks from yesterday because Monday was a small $70 loss but then being up 10,000 today I was like whoa sweet right back on track for another 14 to 15,000 a week um so I kind of started to be like yeah this is you know I started kind of tallying it up and when you do that and then you lose it you feel a greater sense of loss when you instead are like approached as like just you just have to not do that at all while you're trading like just focus on trading trading trading and then once you stop you just have to be like well well awesome that's this much more than I had at the beginning of the day job well done because if you start towning every high water mark like as a Trader you're going to drive yourself crazy so I fell into a little bit of that today um and I think it's because I was kind of trying to make myself feel better over the fact that the last three days had been slow I was like yeah you made up for it today but then anyways took that last trade and pushed it um just a little too much so that's fine you know it it is what it is and I'll tell you it's a lot easier to get over giving back some profit when you're still walking away above your daily goal when you continue trading and the next thing you know you were like I was up 10,000 and now I'm up $100 on the day or now I'm read a th000 that's when it takes a little longer to get over it so I'm walking away now while this is still easy to get over and I'll be back at it first thing tomorrow morning as always live streaming for warrior Pro members so I'll see you in the chat room guys and those of you on YouTube thank thank you as always for being tuned in I hope you hit that Thumbs Up And subscribe to the channel lots of really great educational content on this channel and there's more coming so make sure you guys are um not are subscribed and have the notification key button turned on so you get the alert when I post a new upload all right thanks as always for tuning in reminder trading is risky my results are not typical but I show them uh of course so you get a real sense of what it's like as a Trader I have red dat just like anyone else and sometimes they're pretty big but as always manage your risk and I'll see you guys back here tomorrow morning