Scattered Attention on $DWAC $PHUN $SAVE $RVSN $RUM $ENSC transcript

what's up everyone all right so we're going to go over the trades from today it's a green day but you know what I'm feeling triggered today was frustrating and I think my issue is that it is you know I mean today I rate it as a one or a two on my you know 10 scale of momentum we haven't had you know since I started tracking at the beginning of January we haven't had a single day that was like the highest day was a five we haven't had any really solid solid days of backtack momentum we had two days at the beginning of the month um that were backtack fours and fives and then it went to 32 and then it just petered out from there you know Thursday and Friday were both zeros on my scale 1 to 10 yesterday was a four I got a great trade look yesterday was great $11,000 of profit on sgmt and then I come in this morning you know I I pull up the scans early around 6:45 on my phone and you know I saw right away I was was like well leading gapper like 18% dwac yes I saw it was grinding higher yesterday it's not one that's easy to get in and out for breakouts it's like a buy hold and just let it ride stock which is not my strategy as such I wasn't able to make money on it so dwc is sort of an annoyance it's just like a distraction save Spirit Airlines that's a distraction Phu that's a distraction so right now we've got tension really dispersed among so many different stocks in the market and the leading Gaper this morning was like 30% so you know we had a stock that popped up I was able to trade it made some money had another one that popped up traded it and gave back most of what I had made so that's where I was like you know what I'm I'm gonna say I'm grateful to be green but I'm getting triggered I'm getting frustrated and if I keep trading I am 100% going to go red cuz I'm I'm annoyed that's my feeling and you know it's just hard uh when we have these extended periods where it's cold on the other hand I am feeling really good about my wi from yesterday and reminded that you know if I only took a few trades each month but I waited until we had something with that kind of quality with that kind of momentum I would do really well and that helped me this morning um it helped me because this morning we had ensc pop up on the scans and some Traders were like all right you know should we you know Ross what do you think do you like it are you a buyer and I was looking at it and I was like you know guys this would be a giant waste of my time I'm not interested in this I don't want to trade it it how much am I really am I going to make 5,000 on this stock am I going to make 10,000 not a chance and you know I don't want to say that I'm not going to trade anything that doesn't give me the chance to make you know5 or $10,000 because you know $500,000 winners certainly add up as base hits but at the same time I looked at this it had just popped up to 183 it dropped back down to 134 it popped back up here it pulled back and this was the area where people were like Okay Ross so you thinking about taking a trade for the break through you know $2 and I was just like looking at the level two was really stacked up I was looking at the price action I just said you know what I don't think it's going to happen on this one and you know I was right but it could have easily churned a bunch of commission getting in getting out on it and you know it would have been unnecessary it would have been a waste of time rvsn is sort of a similar story it is up but you know right now it's right at the 200 moving average so look if it can break over and it can hold over that's awesome um we are coming into this resistance area it's pretty clear resistance both the 200 we'll see what it can do you know what I mean like I I have sort of low expectations because it's continuation from yesterday but yesterday it wasn't really that easy it popped up and then pulled back and then it squeezed up pre-market and then pulled back again and now it's punching up now what do you think's going to happen next probably another pullback right whoa jack knife right look at that come on man from 410 down to 350 that's a jack knife and this is where the high frequency trading algorithms are just like they are just screwing retail Traders so badly so what's happening on those kind of moves is the stock starts squeezing up it starts coming into the breakout point and people start you know hammering the ass buying buying buying buying buying and when that happens these algorithms automatically pull their orders out and so all of a sudden it start the stocks will start to squeeze up because they pull their orders and this is what's so frustrating if you ever have like a 50,000 share order like a big order and you press the sell button you know what's going to happen you're going to get filled all the way down and as soon as your Shares are sold it's going to come right back up that's what happens and this is kind of on an even bigger scale because it's you know millions of shares of volume so millions of shares of volume are coming in and the it's squeezing the stock up the market makers are pulling their offers and then what's happening is people are selling so people are selling at the break out and they're just hitting like what I would assume are essentially Market order cells and it pulls all the way back down so this is a combination of sort of a characteristic of these highfrequency trading algorithms and the way they respond to big orders so I think you know we're seeing these Jack knives because we're seeing big sellers who are basically hitting the hitting a market order sell as these are coming right into resistance ultimately there are Traders out there who are sort of creating creating this jack knife effect by slamming huge cell orders right into the top and then that sort of Sparks the beginning of the momentum back to the downside so you know look I that's I think that's also a feature of a cold market and a hot Market you know marketing 50,000 share orders is going to put someone deep deep short and then if it rallies right back up and halts up at 450 and then goes to 5 556 657 you know that person's going to get pretty much wrecked but I think there are some Traders out there who are trading these really aggressively they're hammering the offer on it they are they're hammering the bid on it when it comes up to these resistance areas and it's creating these flushes so what does that mean for the Traders like me who are trading with relatively smaller size or maybe you if you're trading with even smaller size than me you know I think what it means is that right now when we have a stock that has really really high volume like this has we have to recognize that this becomes a target for those big deep pocket Traders whether it's a fund or you know some kind of like hedge fund or something or it's a prop firm you know or some I I don't know you know individual Traders I don't know I I I you know I'm not sure who it is but whoever it is in order to size in and out with 50 75 100,000 share position and try to be you know pushing a stock around like this you need quite a lot of volume right so this is where we see when these get high volume this is when we get these traps and we saw it yesterday um I can't remember which one it was but I mean we've been seeing it well we saw yesterday on rvsn as well but we've been seeing it again and again and again that when a lot of these stocks come up to these levels they get hammered back down now on the other hand you have stocks like sgmt now sgmt didn't really do that in this squeeze from 8 to 20 so what was different about this one well the total volume was actually lighter it's not that it didn't have volume it's not that it wasn't liquid but the volume was not as heavy this did a pulling away type of move so these types of moves can be really dangerous for short sellers because it's just sort of slowly grinding Higher and Higher and Higher and Higher and the volume's picking up and next thing you know it's skipping dollars a share you know from $7 break vwap to 8 9 10 11 12 13 14 pulls back then goes up here even higher so this is a price range where um it's a little higher price the spreads are a little bit bigger and I tend to do better in this price range uh under 20 still is my preference but but above five it tends to be these lower price stocks you know like R rvsn and some of these others that just become really they just become a target for these types of rejections so once you sort of learn that pattern you also recognize not to overstay your welcome too much so anyways um so my first trade was on SB the stock was halted pre-market it actually had news that came out I jumped into it as soon as it resumed its halt which was right here so it actually went from 250 up to up to a high of $5 and I held through that whole move and then sold on the way back down you know I was like well let's see what this wants to do I thought is this going to be one that goes from 5 to 6 to 7 to 8 to 9 to 10 and it didn't but in any case I bought small size I got a fill of a thousand shares and then my second fill which I tried to add another thousand I got only a partial fill of 800 uh shares so anyways I made about a dollar a share on that position as it was coming back down and of course you know glad I honored my profit stop and didn't just hold and hold because it's pulled back quite a lot and then the next trade was nbve this one is a real source of annoyance for me which is why I kind of was like you know what I'm done you guys um so on this one I sort I was watching it as it came up to 350 but I felt like H is it really obvious so many people are watching dwac and Spirit Airlines and Phu and all these other stocks I like I don't know if this is obvious enough so there's a 10,000 share seller at 350 and I was like nah I don't know it was 335 by 350 it's 15 cents spread so it's like I don't think so anyways it comes up I end up getting it at four um let's see no so it ends up squeezing up to this halt right here at 442 it then resumes I did a dip at $4.99 got out at five add back at 530 it dips down I add at 480 and then I stopped at 450 so I end up losing 1,000 bucks $100 on nbve and I was just like you know what this is dumb I'm just going to close up $500 today and I'm I'm I'm not I'm over it I'm not gonna I'm not going to keep trading in this environment I would rather wait for something that has the potential like sgmt and then hit that with some size and make $10,000 like I did yesterday and if I do that you know four or five times a month if I can get something like that once a week not right now maybe but every couple weeks that's fine you know what in a cold Market that's fine and it's It's tricky because you know you don't know which one is going to be the one so you end up taking trades because you're like oh well maybe this nve is going to be the one it's a recent reverse split it's got a big news headline it's got a ton of room to the 200 so yeah what did that kind of look like it could be the one yes except time of day time of day is getting a little later for my window of when I'm usually doing the best the times that I'll trade later in the morning like till 10 or 11 or 12 is usually when I'm already doing really well right and even yesterday I did really well and then just kind of everything stalled out so you know except for dwac but there's a grinder so for the most part everything kind of stalled out I think that my most likely my best days will continue to be from a stock that starts squeezing up pre-market on news from pre-market and then continues nvv totally could have done that but nobody cared about the news pre-market and then when the bell rang it starts to move up but you know it was kind of like I I think it missed its opportunity to really do something exciting today so I have to show up every single day it would be nice to be like Oh I'm only going to show up on the days when it's hot but you don't know what those days are going to be uh well you after a big big move the next days can be good so you could show up the following days but anyways then you would still miss the big move so the best thing for me is to show up every single day and to look at the scans but then also make an assessment fairly early on of whether or not this is a day that it's going to happen if it's not going to happen then it's better for me to preserve my Capital because you know last Wednesday I ended up getting a little bit stubborn a little frustrated and I ended up finishing the day down $6,000 and it wasn't a day that probably under any circumstance had the potential to give me 10,000 or 15,000 a profit I shouldn't have lost that much I just started kind of fumbling around with these lowquality set and I was like, 1500 loss there, 1500 loss there, 1500 loss there you know and all of a sudden there you go you're down 6,000 so my focus right now is to continue try to wait for good quality setups to get aggressive on especially you know in the wake of that loss last week I'm glad I had the recovery yesterday today when I was up 1,700 I was like look you know it's not bad um and then nvv started to pull away anyways I'm a little bit bummed that it rejected as hard as it did you know it really rejected hard and that's a shame um but you know you just never you just never know and well there was there were some indicators um that I should have I you know I don't know just because of time of day more than anything and because of dispersed attention maybe I really should have just um waited but you know anyways it's water under the bridge so uh you know I am finishing the day up 500 bucks which is good you know I mean look any day that's a green day is good making some progress and continue to add progress on the year I'm green on the year which is great not everyone can say that so I just need to keep you know chipping away here and showing up every day dipping my foot in the water and you know even the first trades yesterday on sgmt um you know I I wasn't sure how far it was going to go right I mean you know the first First Trade could have been a $1,000 loss when I got in around 10 uh you know but it ended up working and then once I had a cushion I was able to size up so those first trades of the day are always a little like you know touch and go and then if I can get myself in the green then it's like okay I'm zoned in time to step up and let's um you know let's see what I can do so I gotta you know I got to be kind of focused in on this type of setup and you know something that I encourage you guys to do and you can certainly do or some I'm going to do and I encourage you to do as well is you know just grab a screen screenshot of that print it out you know print out the print out that chart and save it on your computer whatever so you know you can just pull that up anytime you want or have it next to your desk and be like that's the type of thing I'm looking for I'm looking for something that's moving I'm looking for something that's pulling away and then when you pull up I don't know you know an rvsn or something like that that's just choppy it's like you know this isn't the type look at all the those topping Tails it's just not it's not right um ensc you know no and they don't usually start this cheap they the big the big moves usually don't I mean you know occasionally but not usually so anyways uh yeah just kind of a slow day today but green nonetheless green is good and I'll leave to trade another day so I'll be back at it first thing tomorrow morning uh reminder as always that trading is risky my results aren't typical and there's no guarantee you'll find success uccess where you trade on your own you learn from me so take it slow manage your risk practice in a simulator before you put real money on the line and I'll see you back here tomorrow morning all right see you tomorrow