+$34,356.23 on Breaking News at 8:00am ET transcript

now first of all let's address the elephant in the room or should I say the Tiger in the room I'm wearing my same sweater as yesterday this one's my got a little tiger right here on it it's my son's favorite he wants to be a tiger when he grows up but he was really excited cuz I lost it and then we found it and so now I feel like it might be my good luck sweater wore it yesterday was up 100,000 bucks wore it today up $335,000 on a breaking news trade stock squeezes up 250% boom that was my biggest trade of the day let's jump onto the charts and break it down okay the market is hot right now two backtack days you know 100 yesterday 35 today that's awesome so first of all we've got a lot to cover because today was really insane we had some really weird price action and I have some of it recorded so I'll show you the archive uh recording of the level two on nixx very bizarre stuff and I have some theories about what was going on there high level big picture looking at year-to date uh $959,000 as of yesterday after today I'm going to be at about $995,000 so coming up real close to the $1 million Mark in gross profit for the year Crossing that in Gross is great Crossing it in net of fees and commissions will be even better now someone did ask me yesterday Russ how much you going to have to pay in taxes on the 100,000 you made yesterday zero I'll pay zero in tax taxes because I am trading right now in a retirement account this is a retirement account it's a Roth IRA now I set up a traditional IRA I converted it to a Roth and I've been trading in it ever since so this to me is like a no-brainer because there's not many ways that you can make this amount of money completely tax-free now you know the one the one catch is that I can't spend it right now but to me that's all right I mind putting it away for later so that's kind of my attitude I I think every Trader should have two accounts one that's the account for spending money and then one that's the account for saving spending and saving use the retirement for saving now um before we get into today's recap I'll show you my p&l so you can see big pictures sitting at $355 3359 gave back 2,000 off the top hit a peak of about 37,000 so that was my Peak today gave back a little off the top but not too bad and pixie was the biggest winner uh cvsa small winner first trade of the day was um staff went from Green 2000 on it to Red 1300 and then I'm read on Nicks this is the one that had some really weird stuff on the level two as a reminder tomorrow at 100 p.m Eastern I'm going to teach my intro today trading course live so anyone that attends you can come with questions and we'll do Q&A at the end of the class that's going to be tomorrow 1 p.m.

Eastern there's a link pin to the top of the comments and in the description where you can register the first thousand people that join that live stream the live broadcast will have typing uh per well I guess it's like typing permissions anyone who joins Beyond a thousand isn't aable to type so that's the only thing so make sure you show up probably like 12:45 so you're in the queue so you'll be one of the first thousand people to join and I'm sure we're going to have a great turnout because a lot of people are interested in learning more about my strategy a little bit of the history of how I came to develop this strategy exactly the dos and don'ts of how I find stocks to trade where I get in where I get out how I manage my risk and so on and so forth okay so that's coming tomorrow at 1M now first trade of the day today 7 a.m. all right so um this morning was kind of interesting I sat down and you know initially I was sort of like we had some moves after hours yesterday and I actually took um two trades after hours yesterday and I lost 1, 1400 bucks I had finished just finished my recaps um for the the Big Green Day and then I saw a couple stocks with news so I was like okay but we got these pops and then reversals so anyways I finished yesterday at 90 it was 97,000 or something like that anyways still a really good day uh so because I saw those pops and reversals I was a little nervous wasn't sure what was going to work I sat down this morning pulled up the scanner on my phone and notice we already had several stocks that were up a lot and NXX this one was up like 300% it squeezed from under 4 all the way up to 10: so right around 700 a.m. this was you know this was up a lot staff was up a lot stf uh and this was ended up being the first one that I traded so coming into the open um I pulled up the charts on staff and I was a little confused because I didn't see a clear Catalyst I didn't see a news headline and I noticed that a lot of the stocks that had popped up in reversed didn't have news so I thought all right so be extra careful excuse me to look for you know stocks and things that have news so staff ends up popping up uh and right at 7 a.m. we got this nice squeeze so this was right here it starts to squeeze up right here and I jumped in Staff first trade at $561 it goes up to 568 it goes up to 594 and I take profit at just under $6 so made about 2,000 bucks on that first trade not bad I thought that was pretty good um but then I did get back in it and let's see where did I get back in so I got back in remember where this was um where did I take my second loss on it um it was at 700 a.m. so I got back in this okay so so actually my first trade was right in here as it was squeezing up and my second trade was adding for the break of six and getting stopped out as it dropped back down so that was a little Annoying um and then at the open I took another trade on staff and lost 2500 bucks on it so that was this little jack knife right here so I was watching this I recognized that it had three topping Tails but it seemed strong kind of remind me of VSS from yesterday which I made like 10,000 bucks on and I thought this breaks through 550 then we're looking at a move up to six if we break six we're looking at a move up to seven and that's kind of what I was thinking so anyways I bought right here for the break of 550 5,000 shares and it drops stopped out for a $2,500 loss and flipped from green on it to Red so red 1300 bucks now it did end up rallying back up but it didn't get back in I was like you know what let's just say enough's enough this stock is too choppy I'm going to leave it alone so that was the right move because it ended up re in a second time so anyways I actually started the day with staff and ended the day with staff but that didn't really contribute much in the way of profit or losses you could see $1,300 whatever so then the next stock I traded was NXX so NXX this one was really interesting to me um I saw the chart when I sat down at 7even and I was like okay this is looking interesting and my first trade on it I bought it at $88 that was right around was right around here and the reason I bought it here was because there was a big buyer on the bid now let me just confirm um it was yeah it was it it was actually right here there was a big buyer on the bid 40,000 shares sitting on the bid and I was like all right boom I'm in so I punched the order for500 shares three times I'm in 7,500 shares now mind you I was already up a th000 bucks on staff so I was like I've got the cushion you know a little bit of a cushion so going to take a little risk so I'm in 7500 shares and I could tell immediately that I bought from a hidden seller the way I could tell that was as I looked at the level two and it's kind of hard to give you a good example of it but um but but let's just say I'll I'll just pull up um I'll pull up the stock here so let's just say for instance um on this stock and I'm going to switch to my um my margin account just so I don't mess up my met here so let's say on this stock um I'm doing 10,000 share orders so I'm going to click it three times oops I got to move the order up all right so I'm going to click this three times so let's say that was 30,000 shares now there's not 30,000 shares for sale here so my assumption would be that if I clicked 30,000 shares I would see of course the orders would be green going through the tape and the price would probably go from 44 to 47 to 50 55 because there would be slippage so if I filled the full 40 30,000 shares whatever it is with zero slippage and I'm only showing 300 shares for sale that tells me that that is an iceberg and there's a whole lot more orders behind it so usually that makes me nervous and makes me want to get right out of the trade because I'm thinking there's a hidden seller here this isn't safe I shouldn't I I got to get out of it right so that's exactly what happened on nixx I I got in and immediately realized I had bought from a hidden seller don't know how big they are maybe it's just 8,000 shares and I'm was close to buying them up maybe it's 50,000 shares and I'm not even close I I don't know but what I did know was clearly I bought from a hidden seller so I turned around and hit the bid at uh the 40,000 share bid and on 7,000 shares I lost 70 bucks so 7500 shares so it's actually you know it was good it was it was a I think that was sort of like the best thing that I could have done was just immediately bail out it's pretty much the breakout or bailout philosophy that if I get in something and it doesn't work right away just jump the heck right out just give up on that one so I'm pretty quick to give up and that's what I did now a little bit later in the morning let's look at this so very unusual level two pattern uh what's going on here on um NXX there it is so I'm going to play this for you so this is the level two here so do you see how we've got um on the bid these big buyers so on the bid you're going to notice down here 40,000 share buyer right there let me see if I can make this full screen so 30,000 shares right there 10,000 but see it's 20,000 and then all of a sudden it's back to 30 so like you've got this big buyer and this is the illusion that there's support so you keep looking at this and you're like well this is weird but look at the ask so when people buy the ask doesn't really move up not that much and what that tells you is that even though there's only 2,000 shares for sale you'll see much bigger orders go through on the tape but the ask doesn't move up so there's this kind of interesting Paradox here where you've got a big buyer holding it up but every time people buy on the offer there's someone that is selling shares so but what's even stranger is it's not spoof see how that or that stock dropped down there so it drops down the bids kind of get sold into and then they come right back 40,000 share buyer so now the buyer's back the the thing that's so confusing is that when the stock is at that level people are selling to that buyer so that person is actually buying shares but on the other hand what it kind of felt like to me was the buyer is visible but the seller is hit hidden so you we're seeing huge buyers but the seller is keeping it a secret and this has 27 million shares of volume at at at that time now it's even higher um so I sort of noticed this pattern I was like just there's something about this that's not quite right this is really weird and I felt like you know I really haven't seen something quite this unusual and so for that reason I said I shouldn't trade it because I'm not going to feel like I can have an edge on this stock when I don't understand what's happening this is just very bizarre so we'll fast forward a little bit because what kept happening was we would have the you know the buyer was just sort of sitting there and we come up to this level which typically I would be buying this for the break through the new high and so when people are going short and then covering look at it 32 there's all this buying 32 is not breaking all of that buying and 32 is not breaking there's a hidden seller at 32 that's a hidden seller now finally it breaks it goes to 53 right so is it going to pull away here typically we would expect it to pull away now there's a buyer at like 38 now it goes to 65 to 70 it starts to pull away but once again sellers come back in and the buyers on the bid are flashing these orders right there now it's at 1150 but but it just got sold and then Reloaded so that's the weird thing someone just bought 30,000 shares of this at 1150 now if it was short covering you wouldn't expect equal amounts of selling on the ask if it was short covering that many hundreds of thousands of shares at this point this thing would be up a whole lot more than it was it doesn't make sense it was short covering and then and then look at this dump and this is what kept happening all of a sudden you get this huge dump in an instant this happened several times today so I just said I mean clearly this is not a trustworthy stock there is something weird going on I don't know what it is but I can't trade it I got to just leave this thing alone completely so so you know after that first trade where I broke the ice and then immediately recognized there was a bizarre hidden seller which I mean a hidden seller by itself isn't so bizarre it's just weird that there's a 40,000 share bid and then there's a hidden seller and so I don't know what was going on with this I really don't but because I couldn't understand it I decided to leave it alone so I got that one that one trade on it and then that was it so where it looks right now is yeah so that ended up dropping on that candle right there which you saw popped up for a second went lower but it had had this drop here and this one here and this one here and then a jack knife here so it was just really bizarre I don't know if anyone has thoughts on what was going on there but that was very unusual especially for a stock with only a 3. 31 million million share float it just it almost seemed improbable like the amount of sellers there were now if I pull up bookmap for a second which you can uh get if you use thinker swim um let's see NXX um what I want you to look at is in this area here um the one thing is it doesn't let you scroll but you see these big buyers right here so these are the big buy orders and they're basically just pushing the stock higher but there's actual large buy orders that are going through so in total it feels like there's a lot more buying than selling I mean look at all of those big green bubbles those are all large buy orders volume 139,000 shares 219,000 shares so I really am quite perplexed about it um but those big buy orders are sort of propping it up and then propping it back up and then propping it up and if we kind of Zoom in here which is a little bit hard to do um just cuz it doesn't let me you know these were sort of those big buy orders here that were propping it up big buy orders here propping it up so it just you know I don't know guys this was this was some weird stuff you know it's just pretty bizarre and then look all of those orders see this is the thing that's really interesting all of these orders here were canceled at the exact same time and then there were no orders and then they came back and then they were canceled at the same time so that's also why I'm quite certain this is you know one institution or algorithm or you know Trader who was placing and cancelling these orders but being able to cancel simultaneously I mean it's just it's a little complex uh and those orders were moving around pretty quickly so you know if you look at the book right now um let's see you could see there's a 90,000 share buyer down there 90 down there so that showed for a second um so you've got that buyer down there small sellers here these orders aren't moving around a ton right now they're just kind of sitting here sometimes when you pull up um book map on a stock like the iwm for instance you'll see a lot of flickering as orders are being placed canceled Place canceled in real time um so these are all of the historical orders that were placed on the level two and then this is showing um this area would be orders that are getting placed but these are all staying here but what you'll notice is they kind of flicker on and off so like an order pops up there and then goes away pops up pops up you know the orders kind of come in come on the book and then they leave this is sort of a weird way to look at the market most people probably don't use it and I I really don't use this for like I don't use this in place of level two or in place of charts by any means I just use it sort of as a supplemental tool and it it can be helpful to help describe what's happening uh in the market during these kind of weird moves but anyways this is a this is the chart of high frequency trading algorithms basically it's a visual representation of those alos which is kind of interesting so something was going on really weird with NXX okay so um then we had zva zva uh hit the scanners and immediately I'm like familiar with the stock I know it so I jumped in it but I only did a small starter so on this one um this hit our scanner at about was it 7:30 let's see what time was this it was 7:50 news came out 7:50 which is a weird time for news so it's a little bit caught off guard on it but um on this one I jumped in let's see let me look back at my orders so look at uh okay so on this one um it hits my scanner and I used my hotkey to enter I didn't even have time to type in an order in the order entry window so I just started by buying 1,000 shares and I got filled at 312 on this dip right here I then added at 325 and I got filled 900 shares and then I added at 337 but I filled only 82 shares so I was getting only partial fills it breaks through 350 and I'm adding at 364 and 375 and four because now now I'm like okay we've got some momentum right we're squeezing and pulling away we broke through 4 and up around 440 435 there was a large seller on the level two it was like it was more than 10,000 shares so I thought that's kind of a big seller so I ended up taking profit at about $4 405 maybe so it took some profit on it and on a total of 2,300 shares I ended up making about 2500 bucks which is pretty good um or maybe actually had a little bit more than that um but I see order here for 2,300 shares so anyways uh so took some profit on that made $2,500 I thought that was pretty decent uh but then it dropped back down so now I'm kind of watching it here and I'm like I don't know guys this doesn't look so good you know it's coming back down and this did have a headline now the headline was a letter from the CEO so issues letter to shareholders but of course that's what worked well yesterday and some other days so I still kind of thought that was okay but after that rejection I was like you know what all right even with news I better be careful you know I'm probably going to have to wait for the first like established pullback before jumping in cuz I don't want to get wrecked you know so at that point I was only up um let's see well I was up 2 200 on cvsa uh I was still green a th000 on staff at that point so I was up about 3500 on the day and you know I mean look that's not bad I mean it's not a bad day but compared to yesterday it's nothing crazy so then all of a sudden pixie starts hitting the scanner ding ding ding ding ding it's hitting my scanners as it squeezes up right here and I see it hitting 6 657 758 859 and I'm like holy smokes what is going on here 8 a.m. they announc acquisition of Turbo scale um I don't know you know this is the headline so I'm like okay boom that's the headline and immediately I'm pulling up the chart I'm pulling up the level two and I'm trying to ask myself did I miss it or can I jump in did I you know is this am I going to be able to manage my risk on this so on this one um it it squeezes right here from 6 to 7 to 8 to 9 to 10 which was really quick that was a fast move then it dips down right here and I bought this dip at uh let's see I got filled what was the low of this candle um let's see the low of that candle was 11 uh 33 so I had my first trade was actually the break of 11 um it was right here that was my first trade bought 1,500 shares at 1081 added at 1083 and then added as we broke through 11 we go up to 12 we go up to 13 we go up to $14 a share so boom I mean that's kind of that's kind of wild $3 a share in 10 seconds it goes from 11 to 14 it dips down I'm buying the dip right here and it rips up to 15 to 16 and to17 a share so basically within 30 40 seconds or or at least a couple minutes I'm up over $10,000 on the stock next thing you know I'm up 15 I'm up1 18 I'm up $199,000 and I I just what I did was I kept buying these dips and then it would bounce up a dollar a share so with 4,000 shares boom 4,000 bucks another dip 4,000 bucks another dip so now some of them I lost on but I had a lot of them that were really good and I just kept hitting those dips then as it breaks through 1520 right here I add a little high I kind of Chase this move Jess got a really nice entry down here he was that was perfect and I wish I had gotten it but anyways chase this a little bit made a little bit of money on that it pulls back I buy the dip off of the previous support level it pushes a little higher ends up grinding here up to a high of 1945 and then it kind of starts to you know it kind of starts to feel like it's rolling over and I noticed on the one minute the macd was starting curl against the trade so right here at this point I was like all right macd is crossing I'm going to stop for a minute let's just hold tight and I was sitting at about $26,000 of profit um I I think I hit like 25 and then I dipped down to 22 and then I was back to 28 and then I was back to 27 so I was like right around that area uh and then I took this trade right here for the break of vwap getting in as it broke through vwap right there and that was a $10,000 winner and that put me from 27,000 to 37,000 on the day now some Traders were asking Ross why didn't how did you avoid getting caught in that candle so you could say it was luck um but what happened there was so I got back in as we broke vwap right here which was really clean that that was impressive because we again like go from $16 to $18 a share it's two points instantly it pulls back here and I I was still holding a small position and I was looking to add and I was watching to see it hold 17 and when it broke 17 I was like H see I don't know if I like that and then all of a sudden it rips back up and I was like oh I don't think I want to chase it so if I had bought the dip down there you know then I probably would have actually maybe been in this but anyways I I didn't because I just I didn't like that it broke this support level of 17 it flushes down then it comes up and then it knifes back down and after that I was like well I think that might be the end so I didn't you know at that point I was like I think that's it guys so it ends up coming back down to 13 and then at the open it halts down twice it bounces back up here uh but for right now I'm just I'm kind of like I've done well enough um I just don't need to push it so you know and I did give back a little profit um at the open on staff so yeah as I sit here right now $35,000 on the day and setting myself up here to cross this million doll m milestone for the year which is a a real Victory there's no question about that um I set that as my goal kind of it in in August that you know at that point I was like I I kind of would like to see if I can break a million dollars on the year I think it I think it could happen if I can average I think at that point I was at like 700 on the month on the year so I thought well you know if I can do 100,000 a month 880,000 a month it's it's within reach and you know if we look at my um this so this is my year to date right now um we look at the calendar overview um here so you know I I had a great month in well this is October right now so I had a great month in July a really nice month in August and I kind of thought if I can just keep even just 100,000 a month I'll be over a million now September came up a little short right not not bad but a little short and then October um was coming up a little bit short you know I was kind of like all right this is sort of we're just grinding here I was only up like $40,000 on the month which again I'm I'm not to say that's not nothing but was up about 30,000 on the month from week one and week two and then I had 14,000 on Monday and 10,000 on Tuesday so you know that put me up I guess about 50,000 on the month and then all of a sudden boom $103,000 yesterday holy smokes and now another 35,000 today so now I'm sitting at you know a a pretty I'm sitting in a pretty nice spot here 190,000 on the month of uh October and I I don't really expect I'm going to break a or July's $230,000 total but on the other hand I would only need one more day like today to be darn close so you know and then when we look at the calendar and realize gez you know we still have um here for October um like two weeks left I mean not quite but we have all of next week we have tomorrow Friday all of next week and then 4 days the following week so you know we're we're in pretty good shape here um this this spark of momentum uh which you know kind of you know we got a little bit last week from some of the Chinese stocks and then you know that move on drug really sent things um pretty crazy but I will say you know yesterday was the peak day I suppose drug could have been my Peak day had I been willing to trade it during regular trading hours but I don't honestly know if it would have been I'm not sure but in any case um you know drug might have been the best day and then yesterday might have been a slightly smaller day but still really good today's a slightly smaller day than yesterday so maybe kind of you know things are cooling off a little bit and then tomorrow's Friday so I don't know I guess we'll see what you guys get for afternoon momentum after hours news if any and then I'll just be sitting down tomorrow morning looking at the scans and seeing if there's anything that looks good so again will remind you guys to join me tomorrow 1: p.m.

Eastern for my uh intro today trading course which I'll be teaching in a live broadcast bring your questions we'll do Q&A at the end and I think you guys really enjoy it so that's coming up tomorrow 1 p.m. Eastern after I finish morning trading that's when we'll um have that class so I hope to see you guys there and I'll remind you as always trading is risky my results aren't typical and there's no guarantee you'll find the same success as me I've been doing this for a very long time so please take it slow and always practice in a simulator before you put real money on the line I'll see you guys back at it first thing tomorrow morning