Market thoughts- Bear market
*FOCUS ON THE PROCESS* trading with a small account, focusing on discipline, following rules, patterns, risk/reward. Learn from every win and loss. Losses are best learning tools. Track trades. Wait for your patterns. PREPARE before every trade.
OTC's: morning panic dip buy, or multi day breakout ideally w/catalyst.
LISTED: Multi day B/O ideally w/catalyst, or FRD after an overextended run (not attempting to short, just studying this pattern).
GDVM- No news, multi day runner, low volume, on watch for a morning panic dip buy. Illiquid, rather not trade. Just watch.
NUMD- Multi day runner, no news, decent volume. Morning panic dip buy or morning spike. 5-10% morning spike, risk low of day, take profits before key resistance at 0.0731. Looking for a 20%+ panic for a dip buy.
GMER- FGD, former runner, 87% gainer, news: Announces official launch date of microbuddies world experience in Roblox. 6mil shares traded, recent significant FGD's were a one and done. Wouldn't trade this due to the recent history and overall market. Just on watch.
SOBR- FGD, 200% gainer, big volume, 22mil shares traded, news: NTSB recommends alcohol detection systems in all new vehicles. STT breaking news play. No recent overhead resistance. Holding more than half of its gains into the close. Dip and dip, hold/reclaim above VWAP, risk low of day and take profits into strength. Most likely before 4.17 resistance due to the overall down market trend. 9mil shares outstanding, 8mil float, 35mil mkt cap. These numbers appear to be pump and dump numbers. Very small company.
AMPX- Recent IPO, big % gainer 86%, 28mil volume on the day. #5 FGD dip buy today, looks like #6 short opportunity. Could catch a 5-10% morning spike. Holding more than half of its gains from the day. Potential short after the morning spike. Probably not a good idea to chase the long play. 44mil float, 109mil mkt cap. Dip and dip, hold/reclaim above VWAP, risk low of day and take profits into strength. Looking to sell before or .50 above $14 resistance.
BEAT- new patent for heart attack detection monitors. 5mil float, 19mil mkt cap. Looks like it wants to panic. short watch, too low of price to short.
TCRT- 7 step framework, #5,6,7 now. Short opportunity.
*Main focus SOBR, NUMD, GMER, AMPX or a new big % gainer that fits the Trader checklist and P.R.E.P.A.R.E.
Not able to trade everyday due to work. Some days I don't have to show up to work early and I'm able to attend to the market open for the first hour. When I do get my chances, I will be prepared every night before and the morning of the trading day. Studying and watching the markets, staying in tune with the market until my time to trade more often in the slower winter months for work. Looking back at my watchlist at the end of the trading day to see how my plans went. I must create a trade plan, execute the pattern I'm comfortable with, and cut losses quickly when I make a trade. I will set my goal and a thesis of what the stock will do. Along with the Trader Checklist and P.R.E.P.A.R.E. before every trade. If I don't or can't, then I'm not allowed to make the trade.
Received 2 Karmas