A Surprise 40% Squeeze at the 9:30am Opening Bell! transcript

all right everyone so we're going to jump into the screen share we're going to start breaking down the price action from today overall um another slow day however we did get a little bit of momentum at the open thank goodness for that because if we didn't have that one stock that squeezed up today I well I'd be basically break even so CZ this was the winner for today and I know you guys got um a nice move on this yesterday as well I had to stop trading yesterday because I hit the max loss I had uh set for myself for the day now typically my Max loss is $5,000 but yesterday because things just didn't feel strong I said you know what I'm going to set the max loss to 1,000 bucks and if I go down more than that I'm just going to walk so I finished down, 1500 yesterday crossed it uh that Max loss on one trade I was down 900 took one more trade lost 500 on it and I was like all right that's enough I'll try again tomorrow so this ended up squeezing up um kind of later in the morning 10: a.m. 10:15 uh curled up a little higher no no real Catalyst but um a stock that's been beaten up and Traders started to buy up right now I would say you've got kind of a Line in the Sand honestly around this like 1250 level if it gets above there then it looks better for a retest at 13 but um but there's some overhead sellers here in the 12s uh sort of up against this level the fact that it doesn't have a standalone catalyst is a problem the chart doesn't look terrible uh on the 1 minute the 5 minute technically already had first candle to make a new high has pulled back a little bit but anyways so I took a trade on this early in the move um you know to be honest I I didn't really I don't know I didn't think it was going to do anything uh super exciting but uh let's see so my first trade on this let me go back um to the open here all right so I got that trade on amst so my first trade was at $9 88 um I bought this dip right here so in this area we got to move up we got a little dip I'm sorry my why is this off kilter anyways doesn't matter uh we got this move up a little bit of a dip and then it surged through this level uh so I bought this dip here at 988 we got to move up to 10 1040 uh and then on resumption I was in I bought another dip and it squeezed a little higher uh I locked up today right now I'm up 1,00 $131 187 not a home run I traded with smaller size I never uh exceeded my $5,000 Max position and on this one I only trade with A500 share starter and I never got comfortable adding bigger spreads and look at this candle here where it dropped from 1265 to 1126 right that's the risk that this stock had and still has had it yesterday it still has it today so you know I just I was all already kind of struggling here on the day before this trade cuz look I mean look I'm up300 on the on C but I'm only up 1,00 on the day so you can kind of see what the rest of my day looked like um now if we go back to the beginning my first trade today when I sat down at about 7 um I was disappointed to see a terrible Gap scan I I pulled it up on my phone let's see if I still have it um I do so the leading gapper was 20 27 sorry 27% uh it's not in Focus well I'll show you like this okay so leading gapper was 27% there you go so that was this morning at 7:17 and when I saw that I was like oh man this is I don't know this is not impressive this might not be a very good day so I was feeling kind of like G bummed out uh I sat down anyways you know because I always do and uh First Trade ended up being on amst amst had news it came out at 7:30 I jump on it and you know what it's up 69% right now so this thing did squeeze but it really wasn't easy to trade as reflected by the fact that I'm only up $132 on it so when the news first came out we'll go back here it pops up and um let's see so my first trade I got in at 278 and it goes up this was right in here it goes up to 286 290 I took my profit you know made like 100 bucks and then it dips back down to here I got in at 250 after this flush uh 251 it bounces back up a little bit but only small size on that trade I ended up adding back at 307 and then it stalled out I stopped out at 290 for a loss it comes back up I try to get back in at 310 I add at 315 it just it goes to like 324 and then it stalls out Break Even trade turnning commissions then it sells off for a bit rallies back up but new high a day but only by a little bit in this area we mostly sideways right this is nothing to trade this is boring boring boring boring sideways sideways sideways then all of a sudden it pops here at 912 it dips down and I ended up adding um as it held right here over 350 I added at 358 2500 shares squeeze up to 370 ends up going all the way up there took some profit um and then it pushes up a little bit higher here and and then I ended up having a loss on it um my loss was sort of going into the open um I took a trade on it at let's see it was um three was it right in here yeah it was 376 I bought I thought it was going to rip up to the high and on this candle um I stopped out and it's not a big deal but I just I just wasn't able to make any serious money on it so anyways whatever look at these jack knife candles it's a grinder it's choppy stock so no big deal but that was those were my first trades so you know I took a bunch of trades on that didn't make any serious money on it took a bunch of trades on B didn't make any serious money on this this was super choppy uh ended up taking a trade on wiissa lost on that one you know I just today was today was tough we just didn't have good price action um you know and we're just in a little bit of a slump here but if if we look at my metrics um I'll pull them up here for the last you know the last couple weeks um you could see I've been kind of grinding it out here um you know had a red day back there in March rallied back with some nice green days whatever you know right now I'm still kind of I mean I'm I'm over this loss these two really big red days but it's you know I'm in the shadow of it a little bit this was the biggest red day I'd had in over a year this was the biggest two-day red streak I'd had in over a year as well I mean it was was really frustrating and it took you know took some time to recover from that financially but also you know kind of emotionally just to get knocked down like that so you know that happened and and now I'm you know ring back up which is good um but the Market's been a little cooler it was super hot in February which was kind of what you know led me into being a little too aggressive taking a lot of risk and anyways didn't give back everything I made in February by any means but gave back a little and then now as I've been rallying back it's just been in the context of a slower market so I had a red day yesterday 1500 no big deal had a red day a little while ago before that $656 no big deal successful red days I thought today might be a successful red day when I was down you know 100 bucks and nothing was happening uh but then we got C at the open and because I wasn't in a good position on the day I knew I had to kind of tread carefully with it I did I got myself a little bit of profit and now you know I'm like all right look thousand bucks that's good enough for today it's not my daily goal but it's better than a red day which I was very nearly uh facing again not that it was going to be a big deal successful red days are fine but but this is better so I have a $1,000 more than I had a couple hours ago that's that's that's good when it comes to trading and I think my plan here as we now come towards the end of the week Thursday Friday I mean I I hope that things pick up tomorrow if they don't my expectations for Friday are going to be pretty pretty low cuz usually companies put out good news early in the week they want traders to be circulating the news and and trading the stock and then they put out bad news going into the weekend um so I'm just hoping that we can have a a good day tomorrow but to be honest it's probably a little optimistic to hope for that because what's the temperature of the market right now it's a little cooler it's just not as hot so all right well that's the market I'm in nothing I can do about that in term I you know if the Market's cold the Market's cold what I am in control of is how I choose to engage and trade in this environment and I think right now I'm doing a good job keeping my risk low testing the water you know so I never increased share size to say above 5,000 share cap I could have uh I was up over a thousand which is my first threshold before I can increase size but uh it just didn't feel warranted so I'm going to keep the Big Share size on the sidelines I'm just going to be kind of nimble keep it light make a little bit here and there you know yesterday well Monday I think I was up 3600 that was good yesterday was a little slower today you know back in the green you know whatever that's fine I'm green on the week so probably sitting at 4500 on the week something like that right can't complain that's good you just got to keep your head above water uh when it's cold so that's the game plan for me that's where I'm at and uh I'll be back at it first thing tomorrow morning now for those of you guys who have not um already checked this out we've got our anniversary sale going on right now so I'll go over to our um let's see and go to our uh price and feature page so many of you guys know this but I first created the warrior trading blog um under the name day trade warrior in 2012 and I created the YouTube channel in 2013 and in 2014 I opened our day trading chat room and I taught the first round of my day trading courses that have become the warrior Pro curriculum so this is our 10year anniversary of um of me teaching this class and so we have a special going on here for our anniversary the special is on um day trade Dash which is the software that we've built out right here uh this is just a 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