ANOTHER Short Squeeze Now +250% transcript

all right everyone so we're going to go ahead and jump in here with today's recap overall hey it's the first day of May starting in the green first trade of the month I'm happy with that I really can't complain we had breaking news and this was another setup similar to yesterday in that I show up relatively early so watching for breaking news top and bottom of the hour so 7:00 a.m. 7:30 8 8:39 because that's typically when companies put out press releases pre-market and at the top and the bottom of the hour so I'm sitting waiting patiently and like clockwork there it is right at um this was at 8: a.m. so or sorry 8:30 bottom of the hour p AI is hitting my scanners so the way I find these stocks is with these stock scanners so these are scanning the market in real time for stocks are squeezing up so pii hits the scanner as it breaks over I think it was maybe around $7 or so uh and I'm going to show you on a 10c chart so you can visualize um exactly where I got in and got out okay so on this one we get this first pushup right here and this is where it hit my scanner so as it's squeezing up right here boom scanner alert scanner alert scanner alert and those scanner alerts produce an audio sound so I hear it no matter where I am as long as I got my speakers on I can hear it no matter where I am in the room and I can run over now I was already sitting here so that was fine so the first thing I do I pull up the the stock well actually let's back up the very first thing I do and we can scroll back on the scanner a little ways the very first thing I do is of course I look at the scanner alert and I'm asking myself okay is this a stock that you know has the potential to make a big move so I see pal and there's two things that stand out to me immediately the first is uh the float is less than a million shares and the second is that the price is between $5 and $10 now now if we look at um my metrics here for the last um we could just look at the month of um well it doesn't matter we can look at year to date so we look at year to date price uh performance by Price you you can see right here is that my performance um is the best actually on stocks between $5 and $10 right here this is the window where I've done the best you know under $5 so so under $2 not great and above $10 is not as good so when I see a stock that's right in my wheelhouse of price between 2 and 10 I'm excited and between 5 and 10 is particularly good so the fact that this was between oops uh between 5 and 10 and uh had a very low flow and was right at the bottom of the hour which meant it had breaking news was like check check check okay so now I'm pulling up the chart and I'm pulling up my level two window right so I'm pulling up my level two window here here and I'm starting to get dialed in so what I saw on this was uh we hit a high here of about 7 780 and then we di down and so right here on this dip um this is where I took uh my first trade right down in here on this dip so I got in with a starter position at about 750 with 2,500 shares I then added at 780 another 2,000 shares to give myself a 4500 share position it hits a high of SE of um what was it 780 it flashes for a second pops right back up I didn't stop out this was like just sort of a momentary Wick and then it squeezes up to a high $8 now in this first attempt at8 right here there were a lot of sellers at $8 so I ended up taking profit and getting out right here and I made $500 on that first trade it dips down right here and as it curls back up I got back in and then it breaks through 8 and it squeezed up to 850 860 all the way up to 880 right here then does a little 1 minute micro a 10-sec micro pullback that's a spot to add to the position for the break over nine and then next thing you know we're hitting a high of 940 now we dip down here below nine right here and then we bounce back up and as you can see we end up squeezing all the way up to $10 but it wasn't able to break 10 and in truth this right here was the cleanest part of the whole move and when it broke down here and started to stair step down I tried doing one dip right here at 945 or 942 that when I got out break even and then I did one more trade um a little bit later in the morning as we came back up to vwap right here and I got stopped out and on this one I lost uh $400 $500 so I was up 3,000 bucks on the first leg of the move right here trading with Max position of 4,500 shares so didn't quite get a dollar a share out of it but a pretty nice winner in sense per share a very nice winner and percentage gain and that was simply focusing on being here at the right time now I I saw a lot of folks that were sitting uh down in the chat room trading this morning a lot of people were posting you know great trades on Pali that they hit their goal they were happy with that so that's what I wanted to see really good start to the month now the thing that I said was um okay you know let's when it started to pull back I was like all right well let's see what this wants to do you'll notice that we had a macd crossover right here so that was the macd crossover kind of right as we dropped down and although I tried right here and I thought the macd was going to curl back up um I did give back a little bit but I was reducing my share size so even on this position here I only bought I think 2,000 shares so really trading pretty conservatively right now until I can build my cushion for the month of May now for me I trade every day and every week and every month I trade with the mentality of I'm focusing on hitting consistent daily goals I want to be trading for income now even though this isn't a retirement account I still have that same mentality of trading you know for for income trying to be very consistent and I I was you know really pleased to break the ice this morning and have that first trade you know be a nice green trade and then after that I was like well this really has to prove itself and I don't want to give back too much profit I don't want to overstay my welcome so I got to reduce my size to protect what I've already made now uh unfortunately pii P had this macd crossover it goes below vwap it tries and then rejects comes back to vwap Fades gets above it at the open did not trade here sort of didn't think it was worth it and then halted down and came lower so unfortunately on this one we really just had sort of that one clean move and then that was it but it did go from $6 up to nearly $10 a share so over 50% squeeze on breaking news I can't complain about that that's that's great to see the only thing that I'll say is that I'm not going to start being more aggressive until we start seeing these you know continue higher hold up you know on the first 5minute pullback and then curl for an even bigger move you know once we start seeing that then I'll feel comfortable stepping up to the plate and being a bit more aggressive but uh but in the meantime I'm just trying to be consistent and lock up these green days so P um right now ended up fading we ended up having uh CM sorry it was what was it CM ctmx uh on the scans and now oh see I actually missed this one now this is interesting because uh ctmx is easy to borrow so it's an easy to borrow stock with a 67 million share float so this is not and a false halt right there this is not the typical stock that I would be trading it looks like it came up to a false Halt and then a halt and then the halt level moved up and it pushed higher you know it's great to see this um and look it's up 250 % I mean there's there's definitely a part of me that thinks I should have gotten more dialed in on it um so earlier this morning when I watched it um right around $3 it had this initial squeeze from uh $2 up to 250 up to three and that sort of stalled out it pushed a little higher and then it dipped and I sort of took it off my focus uh then it pops up here up to a high of four pulls back and we can look at this chart uh in a little bit more detail here here so you've got that yeah see that's interesting so we call that a jack knife candle right there you get this push from 380 up to 420 and then right back down but it held up curled came back up dipped off of four blast through 420 that high and goes up to 468 looking like it's going to Halt then halt level moves up it dips for a second and then punches up to 560 so now you've got some short sellers no doubt who are like deep underwater on this it punches a little higher up to 580 drops 80 cents down to five and is now right here so as I look at that knowing that it's easy to borrow I look at the level two and my concern is the level of choppiness that we're going to see on it and that this is the type of stock where I tend to make mistakes now I I'm not going to disagree that this is a beautiful candle right there that is phenomenal I mean you there's you can't say anything bad about that that's a beautiful candle so these were really the two candles that you would have wanted to be in on and if you missed it then at this point you you're chasing it you missed it right you get in up here you catch one of these big red candles so this was a spot to be in if you were dialed in focused on it there and you got those trades that's awesome uh but but that was really the spot so looking at this on the daily chart uh it has news it's just not typical to see a stock that is um with the 67 million share float go up that much looks like Gap fill on the daily chart to the penny look at that so 589 filling the gap so now that it's filled the Gap it could go higher if it could get uh next level up to 651 then it has a little resistance up at 675 then the next level's up here about 691 and then you've got room up to 756 so you know in order for me to get excited about something like this at this point I wouldn't I wouldn't feel comfortable trading in this area cuz now it's just too extended on the 5 minute chart unfortunately your risk is just going to be way too high um so this is not safe you'd have to wait for another five minute pullback down to the nine moving average and then maybe it breaks out and pushes higher this is the first five-minute pullback you could get a second five-minute pullback I wouldn't really consider this is more of a a red to Green move and then this is the first pullback after it pulls away second pullback will we get the second pullback I don't know again given the float um easy to borrow status I'm not sure you're going to get that but nice job uh for those that traded it sometimes I think these are stocks where um you've really got to be sort of just like willing to let it ride a little bit more than I am to do well because otherwise when you get in for quick breakouts you may end up finding yourself getting chopped out like on candles like that you know or jumping in here on the micro pullback and then getting chopped out again so it requires a level of conviction that I often don't possess um but nonetheless nice to see um syt on the scans here so this one squeezed up and halted halted up opened higher no clear Catalyst no really it's got the 200 moving average here it's like that's the type of stock you could see making a move because it doesn't really have a lot of daily chart history so all of a sudden these can squeeze sometimes but uh I just don't know that the market is quite hot enough to support that type of move so I don't know I'm I I think you know this is one of those days where you you have to be grateful for what you've got and you know I've got something here I've got more than I had you know at the beginning of the day and if I start getting into chasing some of these stocks are popping up your syts your ctm XS you know you chase gains and then next thing you know you're giving back profit one of the things that I'm focusing on right now is how many days I can maintain in a row consecutively of being disciplined and following the rules of my strategy I'm on 25 days right now since the last day where I deviated a little bit and I want to see how long I can stretch this streak you know and it's it all it requires is following the rules and yet we know how difficult that can be when a motion um you know comes in so I I don't know I right now I'm just going to stay focused on being disciplined not overstaying my welcome locking up the green days because you know what that paid off really well in April April ended up being my second best month of the year so I locked it up here and I'll just put this down here so you can so um so this is this is January February March April um let's see it was like 30 35,000 130,000 uh 20,000 in March and then um this is let's see 45,000 in uh gross profit so net profit after fees and commissions is less uh but nonetheless it's it's still a great month these are my red days they were calm cool collected measured did not spiral didn't do anything crazy went red didn't overstay my welcome green days a little smaller but the total is good and if I can keep this up I'm going to be um feeling really good so I just need to stay focused on uh you know keeping my head down locking up those base hits not overstaying my welcome not chasing the market and um and that's the that's the ticket all right so that's it for me that's day one of May starting the new month um fortunately with a green couple green trades and I'll be back at it first thing on um Thursday morning so I'll see you guys in the morning and I want to thank you as always for tuning in remind you as always trading is risky my results aren't typical so manage your risk take it slow and if you enjoy these episodes I hope you hit the thumbs up I'll see you back here first thing tomorrow morning