$MINM $NRBO and $GRI get February off to a strong start! transcript

all right so we're starting the first day of February with some action which is great nrbo up over 50% and then minm continuation from yesterday gained another nearly 50% all the way up to over $7 a share but is now pulled back so this these both these two stocks gave me some good opportunities I trade both of them and I'm green on both so let's jump into the charts and look at the trades from today all right so nrbo this one uh was actually the first one I traded this morning I sat down relatively early but but the Gap scan this morning wasn't super strong nrbo starts to pop up and pull away here and it actually goes from 420 to 5 550 to 6 all the way up to a high of 675 this was impressive so as it started to pull away uh it was hitting the high day Momo scanner it's up 78% right now and I saw that it had news so I was like okay there's there's a news Catalyst behind this and what I ended up doing was I took a 1,000 share starter at the half whole dollar which in this case was six so basically it starts to pull away and I'm like all right I'll get in at six with a th000 shares stop is $550 $500 of risk let's see if this thing keeps going maybe I can add to it so I end up getting in like right around here it ends up going up to a high of 675 so it's up 750 bucks on a th000 shares and then it starts to roll over and I sold it on the way back down so I locked up um let's see $468 so 46 cents a share on 1,000 shares which was about a 1 to1 risk reward it's not bad little scalp you know wasn't wasn't a home run or anything but uh the volume was sort of light wasn't great liquidity I don't think I would have been able to get in with like 15 or 20,000 shares I could have done 2,000 or 3,000 but I just did a th000 to keep my risk minimal on the first trade of the day so got in half dollar whole dollar setup broke over it continued now it ended up selling off and coming into the open was well below vwap and attention had shifted to minm we'll go over minm in a second but before we do let's just sort of close the um the circle here on nrbo so nrbo sells off so from a high of 675 it goes all the way down to four almost a full round trip and then off this level it starts rallying back up as you could see right here so we get this rally back up however unfortunately you have a couple of Jack knives you've got a big one right here you've got a smaller one here a smaller one here U so you're noticing some bigger red candles which in this case have been I suppose dip opportunities although this went lower but watching this off of dips has certainly made more sense than trying to buy breakouts unfortunately it's just been you know it tops and then it reverses so I decided not to get back in it as I saw it coming back over vwap after I saw this um jack knife bull trap I was like you know what I'm good I'm done so and I'm up $3600 today which isn't bad so minm is the one that I made the most on and minm is uh really interesting we've got um yeah let's look at yeah 10-sec chart so we're going to look at the 10-second chart so on this one um interesting price action so it starts squeezing up um pre-market around 7 45 750 and it's kind of pulling back and then it bursts back on the scene here back over vwap now minm on the daily if you recall this has been moving for the last couple days and it's also kind of a familiar name we had moves on it earlier in the well this was December and this was in early January so I marked the high of this candle which was 587 so I was like all right 587 that's definitely one resistance level then I looked to the left and up and I was like oh 1028 that's another level to Mark out so those were two daily levels uh yesterday I was aware of that 587 level because we came up to about 550 and then reversed off that level so pre-market this morning on the F minute chart as it starts coming up I was looking at this level right here which was about 468 felt like that might be resistance and I was kind of surprised that it came up and just went all the way up to 510 I'll show you the one minute chart on that move it was actually surprisingly clean it pulls back and it rallies back up here and I thought for sure it was going to have resistance at 555 but it kind of just pushed through that level yesterday's high went all the way up to 650 pulled back went up to seven what was the high seven something and then it pulled back off that level and now it's you know pulling back a bit more so on the one minute chart hang on one second sorry she's a she's a monster okay so on the uh on the one minute chart we had this um let's see where is it oh right uh yeah I'm actually going to show you on a 10-second chart it's actually even on the one minute it's not super obvious so on the 10-second chart right here we had uh this first move up little bit of a pullback right here uh and then there was another little pull back like right in this area and then there was another one kind of right in this area and so what I ended up doing was I drew this ascending uh res support line it's an ascending resistance support line and then when we came down here I was like all right you know what um this is starting to look a little bit interesting so it sells off here you get this bottoming tail and then it rips back up to this high of about 580 pulls back and then right here jack knife and it starts to sell off when it came back up right here I got in when I saw this volume this high volume coming back in I was like you know what I'm going to get back in this so I got back in uh actually sorry this was my first trade I got in for my first trade on minm right here although these were nice I was a little hesitant on it there were some sellers stacked up it's a continuation setup on low relative volume so I was like ah I don't know if this is going to work anyways it did end up resolving but I just wasn't sure about it so I didn't trade it in that area but then when it came back up here uh I was like you know what I think this is the time to step up and if we look at this on uh the 5 minute chart this right here let's see [Music] um yeah it was it was so we popped up here at 850 where was it yeah that was a really nice move so um this was a high of 521 then we pulled back right so what time was this yeah it was about 9:00 a.m. so anyway so I I bought uh right here at 583 and ends up going up uh to $590 to $6 goes up to 620 and I actually got my best exit uh in this move at about 638 6 it was really very close to the high I was just scaling out on the way back up so I made about $2,000 on that trade put me up 2500 on the day with the 5400 I was already up on nrbo so I was like that was a solid trade that was good uh it was a breakout entry we got the nice squeeze good continuation and then in this area I just started actively trading it um I had a number of Trades more than I could count uh in this area but I kept buying dips taking little dip trades and then adding back oh and one thing I wanted to show you is um I knew I look at this blue resistance line I had drawn it here at about you know 845 850 and as it came back up here I was like oh see we got this line I think it's going to be an issue and man it was like perfect that that was the resistance level so I've really felt good about that uh trend line all in all I I felt really good about all the trades that I took today um I had some nice nice a couple nice breakouts that were solid I had some nice dip trades which were also pretty good but I was a little disappointed that you know although we did get a gap and go into a Hal up at about 7 7201 this morning right here it opened a little lower I bought this dip we got a pop here up to 76 that was nice we got another drop I got another dip another pop back up to 760 drop down add back up here about 760 for the move higher stopped out of that for a loss pulls back another dip coming back up so I just kept trading dips uh and then finally it halted down right here right at about the volume weight average price initially on the halt down at 645 it was showing like a 550 resumption and I was like H that's not good but then the resumption slowly started coming back back up until it was showing about 5 uh 625 so I kind of was thinking about doing a dip here but then I just felt like you know it's like right below vwap I just it if it had opened way low I was interested in a dip but it was sort of more or less flat it just didn't feel it really so anyways I didn't take that dip which was good it did end up going lower down to about 580 slowly ramped back up to vwap sold off again you know ramping back up and overall you know I suppose you could say it's holding up relatively well in the context look at that move of yesterday's price action but again another jack knife move you know these we're seeing a lot of these I don't like to see it at all um the stock starts to pop up and then you know a huge sell order goes through you know right there as you can see that it's like that's like 600,000 shares of volume right there it's a lot of volume so unfortunately those really have a way of kind of making a chart look pretty unattractive uh but if we look at an rbo one of the things that can happen when you have that rejection candle you can have that rejections you had here and then we'll sometimes see that sort of slow Ascension back up to those highs of that candle and that's kind of you know so the only real way to trade it is the dip because then it grinds back up but in this case even as it was grinding back up it had another flush and then another flush so it's still wasn't what I would call Easy I'm not sure that anything today really was easy uh you know nrbo early that was a quick little scalp it's a very fast trade and it worked but um didn't end up being a big winner minm you know I I was a little unsure about it because it's a continuation setup on Lower relative volume relative volume right now is 10 it was lower earlier if we look at yesterday's volume it was 67 million shares you know had a ton of volume volume so this morning when it first starts popping up on a couple hundred thousand shares of volume it's like I don't know I'm not sure if this is going to work so anyways um I I'm grateful that I did as well as I did on it I hit a high of 4,000 and then gave back about 400 off the top um I stopped not because I felt like I gave back too much but just because we had that jack knife move on nrbo and I just sort of felt like I'd kind of done well enough and things were slowing down uh it does turn it did turn out that GRE as G gri put in a bit of a squeeze here the challenge here on this one um could pull up the level two on it volume has come in uh but initially in this move here at sort of the beginning the volume was pretty light so if we look at the volume on these candles um this candle had 800,000 shares of volume so that was a high volume candle right there but in this area you know these were Rel relatively light volume candles halts up once goes up again up all the way to a high of what was it 350 is 342 then it halts coming back down so I don't know I just I yes there was some opportunity here on this but I just wasn't sure about it it had already done this reverse split kind of pop and that's where I sort of have been feeling like you know uh if it's already done it once I'm I try to be careful going back for it a second time we had a stock similar yesterday I think it was I don't remember the symbol now but it had already done the reverse split pop and then it was coming up for a second attempt it's like that doesn't usually work super well so yes this did put in a pretty big move today for sure probably could have would have should have but if you're really thinking about managing risk nothing in here would have been super safe you could have gotten a trade in this area but then halt up open flush back to a halt up opens higher it's just you know when you're trading just constantly with halts it can be a little tricky so anyway so no trades on that one for me um so then that's the leading Gainer right now at 130% nrbo is the second OST is a 50 Cent stock this one's lower priced then we've got mm at 32% cing very low float here um 864,000 shares but I don't know it's been on the scans a couple days little pops but they don't seem to hold up super well so I haven't found a lot of interest in that right now overall Market S&P 500 um you know I mean we're kind of hanging out here very close to all-time highs we hit an all-time high earlier in the week pulled back a little bit um nothing nothing really exciting there that's the overall Market the the S&P 500 iwm is the Russell Index this you know the thing with looking very closely at the small cap um index is that most small cap companies when the Market's a little shaky small cap companies are really shaky so they do well when the overall Market is doing well and it takes it's a little bit of a lagging effect for these most these small cap companies to do well but small cap companies in general doing well you know that's great but usually we're trading the ones that have a specific reason to be making a move they have news and so that's when we seem to find really the the most opportunities and right now it doesn't really um concern me or or bother me that the iwm is kind of in this channel because I'll just keep focusing on the stock each day that is you know bucking the trend of the sort of Market in general which certainly gr nrbo and minm are doing I think when the iwm starts to pick up we may just see you know a higher frequency of stocks hitting the scanner and moving higher because the the market environment will be better for small caps but uh but I think I could still do well even in spite of that so anyways um you know locked up uh the month of January had a couple red days uh definitely One Max loss red day for January then I think there went there were and then there were one or two other red days so finish with three or so red days for the month of January but overall it was pretty steady a little slow you know I didn't have I think my biggest winner was on SG smgt or sgmt um about two weeks ago it's a $10,000 winner so yeah this was um this was probably my biggest winner for February or for January but now we're off to a fresh start new month yeah this was nice you know that I mean look you can't complain about that it's pretty solid right from 750 to 8 to 10 to 12 to 18 it's a 10-point room move and it's during the window when I usually make the most money so high volume move right there did well on that and realistically only need a couple of those a month to have a pretty solid month you know to at least be six figures on the year if not if not more mid six figures so got January off to a good start had decided that I don't want to look at my p&l for the month of January so not looking at where I sit not looking at my metrics right now but taking some notes about my trading in general and taking some notes about the overall market conditions and my sort of daily ratings you know today this was a strong day we had some stuff moving so it's a solid you know 4 to six rating I'm sure some people did better today than others it wasn't insanely good but it was decent and I can make money on days like today look if every day in 2024 was like today hey I I'd have a great year right 3 3,600 a day that's a over half a million a year for sure so um the fact is there'll be days that are slower and there'll be some red days too and what I have to try to do a really good job of is keeping those red days as small as I can and keeping them as few and far between as possible and if I could do that then this will be a solid year and January was off to a good start and I definitely have a cushion on the year because I know I made money in January um I don't need to know the amount to the penny and I'm just trying to kind of keep my head down and focus on hitting these base hits and just know that at some point here I'll look up and I'll be able to look back at the beginning of the year and see wow I've made some really nice progress and I did it without sort of constantly enduring the stress of being like ah this is the measuring stick this is where I'm at this is where I need to be and so just kind of trying to keep my head down stay focused which maybe is a little bit of an evolution in my my career because I've been doing this for so long that in a way how much I make each month kind of doesn't matter I mean after more than a decade of trading it does it really matter each individual month even each individual year as long as you're still keeping your head above above water and making money I think that's what counts now it doesn't mean I don't want to try to get better but uh and I think to get better you have to ask difficult questions you have to look carefully at trades that are working and that are not working but I don't know that you necessarily need to look at your total p&l it's it's hard not to honestly it's hard not to because when you look at your metrics it's just right there but uh at the same time I think that you can draw some really good insights just by looking at trades you take on intraday basis and where did I go wrong where was my mistake were these all good decisions so when I look back today at the decision-making process my first trade on NR boo um I I you know was it a little bit of a risky trade to jump in that high yes and I mitigated that risk with smaller share size that was perfect had I hit that with 10,000 shares I could have been down five grand in the first you know five minutes of trading but I did a th000 shares so if I went red on it I'd be down 500 easy to recover from that no big deal and then minm I didn't trade it early on when it was kind of slow it did go higher but I felt that was the right decision because the moves were a little choppy and the spreads were a little big I was like even if I had taken that I don't think I would have done super well I waited for more volume to come in you know once more volume came in you know around 8:45 9:00 that's when I step up to the plate and I got some good trades on it and you know really realistically today I had maybe like you know three super solid trades that produced a lot of profit and probably you know 10 others that were sort of small winners or or small losers but I think the only place that maybe I took a little too much risk um where was it um it was let's see I had this trade here uh sorry yeah no I had this trade here where I where was this I'm losing my place um I had this trade here right over 85 where I got the move up to six and then was it this one somewhere around here I had to trade was it this candle it might have been here it might have been right here um that I added back and I I was like all right we're pulling away you know and that ended up being a false breakout and I was like oh that was close I made a a couple hundred on it but it was not a great trade so um a little confusing the thing is because the previous um this one minute pullback here was super solid or 10c this micro pullback here was super solid I kind of thought you know this one up here might be really solid too but it just wasn't anyways I really feel pretty good about all the decisions I made on uh the trading side today and you know it happens that the result is also positive but as I've said before it's also totally plausible that I could make good decisions and end up in the red because I take three or four trades that made sense the logic was there the strategy was there the setup was there but they're losers and there's nothing wrong with losing because that's part of trading the only thing that's a problem is when you're breaking your rules you're not following your discipline and you're letting losers get way way way too big that's when it's a problem so the losses I had today were marginal small no big deal and I'll leave to trade another day finishing net green um even in spite of a couple losses all right so that's it for me I'll be back at it first thing uh tomorrow to do my recap I hope you guys enjoy it if not already subscribed to the channel I hope you do hit the Subscribe button and I hope you hit the thumbs up and I'll see you back at it for tomorrow's recap