PocketPAT

I'll be watching FFHL for a huge panic down to 4.50. It never broke that level on Friday and for good reason, it's a key pricepoint and the bottom of the madness. 4.50, maybe 4.25, depending on the price-action. ------ 9:30AM: Watchers for Monday morning are YUMA, FFHL and DPW (Huge Morning Panics on all, ideally after stop-loss breaks).

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PocketPAT

FFHL provided three solid plays on Friday. I scratched it off of the table late premarket, as it seemed to me that OPTT was the better watch of the two. Good to review it though. It never failed bottom support once. Noted for the future as a way to play short squeezes, but still a sketchy setup. Better safe than sorry lol, imagine being long on one of those $1 cracks. Not really worth the gamble. If you can catch the squeeze in that first minute rip, that's the only play that I'm interested in; taking profits like my life depended on it. I have yet to catch a short squeeze in-play and I'm not itching for one either. You can either go very fast or very far, the choice is yours.

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PocketPAT

Reminder: It only makes sense to dip buy tickers without news if they panic HUGE or Multi-Dip Recurl from parabolic highs, down to key multi-term/consolidated support. If it's down that much and has historically bounced from that key level (especially if it's a key pricepoint), then it's likely to do it again. At the same time, it'd be best to go for the single and take profits quickly, as there's no real reason for it to run for very long. Although, if it historically runs on no news, it could be considerable to watch for continuation, but that would obviously be a case-by-case basis. History is everything.

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PocketPAT

In and out of OPTT at premarket support for the flaccid bounce. It never holds it's highs, so I anticipated the Multi-Dip Recurl (for a retest of the premarket highs or potentially a short squeeze), but didn't trust it due to all the choppiness on the way down; so I was prepared to cut losses EXTRA quickly. Still, I gave it a chance at PM support, as I've begun to realize that premarket breakouts tend to bounce from there on Multi-Dip Recurls (if they will bounce at all) and it was the bottom of my ideal bounce region. Sold the position in two halves, which felt very controlled and I'll definitely consider doing that for the majority of my trades going forward. What has me even happier is realizing that my last seven trades combined have me down only -$15 =) =) =) ... Couldn't say the same a month ago. All scratches, of course, but keeping losses small and taking small profits when needed will keep me in the game at an overall breakeven much longer. I'm still repeating what Huddie said in my head: "You have to learn how to stop LOSING, so that you can learn how to WIN." As long as you keep your account(s) intact, you can let the winners run and have a profit chart climbing in the end. Off to the movies =) Great week!!!

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PocketPAT

Definitely going to miss market open today as I’ve just arrived at the gym. But I’ve already profited on the day with taking a closer look at and refining my trading strategy. I’m very excited, but running on a couple hours sleep, so I’ll be watching the market this afternoon to see if ticker price-action from today can be confirmed with my new way of thinking.

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PocketPAT

Reverse engineered my trading strategy over the past couple of hours. I'm now looking at things the opposite way. Instead of trying to force setups onto patterns, I'm now going to look for patterns to provide setups. For example: Instead of looking for Biggest % Gainers to provide Panics (big or small) or Multi-Dip Recurls, I will look for PATTERNS that are forming on Biggest % Gainers ALREADY to provide potential Panics or Recurls... (how do I explain this better) Instead of saying, "it's a biggest percent gainer, which pattern can I apply to this?" I should be asking, "where is this biggest percent gainer current at in the typical run-cycle (PM/BO, FGD, 2GD, 3GD) and what pattern historically applies for it's current state?" NOT simply "It's up a lot, what do I think it's gonna do?" It's the same thing how Tim talks about reckless shorts jumping on anything that's up a lot. I didn't simply jump into anything up a lot before and always followed my rules (and it's been serving me well), but looking at the market THIS way will make me even more of a sniper. So now, based on where a stock is in the overall run-cycle, I will focus on applying one or more setups to it that have historically played out on that particular day --- Not what SHOULD it do or what would I LIKE it to do; what HAS this day or time period in the run cycle DONE historically, based on where it's at now??? Because I've confirmed that specific setups seem to either ONLY work or work BEST on particular days/times in a run cycle (PM/BO, FGD, 2GD, 3GD).

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PocketPAT

Purged my Watchlist as I realize which potential panics are worth watching and which ones aren't (no slow-grind setups or huge floats/market caps). Also now separating my panic watchers by "Small" and "Huge". Tim's watchlist always confused me previously with how he would call tickers "potential buys", because I always thought he'd meant "potential buys on breakouts only" (and I currently hate breakouts --- panics only for me). It took a while to connect the dots on the fact that Tim doesn't like chasing runners (which would arguably be buying on breakouts themselves), but he instead prefers "potentially buying" on PANICS (and that doesn't necessarily mean HUGE panics) with the intention of seeing if the ticker could break into NEW highs (breakout) for continuation. ------ AHHHHH, makes so much sense now, as Tim bought a ticker within the past week at support BEFORE hit went red to green, with the ANTICIPATION that it could go red to green and then break into new highs on continuation). The key seems to be to focus on tickers that have strong green days, with news and multi-day run history, with clear support nearby to buy into on a previous day profit-taking MORNING PANIC, for it to bounce and continue the run-up for a nice single or potential double-play. That's for short term panic plays, (I've always scoffed at buying small panics, "I need more panic", but if support is clear, there's an opportunity for a single and I've recently studied ongoing examples of this by following both Tim's trades and other traders like Androo. For potential HUGE panics, these tickers will likely have been up for a number of days (three or more) and are either turning over or showing signs of cracking. These are tickers that short sellers will be looking to jump on (once they go green to red or open on a First Red Day) and you'll be able to jump in on the *HUGE* Morning Panic or Multi-Dip Recurl after they cover their positions down at multi-term/consolidated support. =)

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PocketPAT

CANN has panicked down to key support at 1.00, (I wanted it down at 0.95), but I would buy in here on the bounce if it wasn't so illiquid. I just can't pull the trigger with less than 200k traded on the day at 10AM. Lots of big orders are getting executed at support, confirming a nice bounce level, but I'd rather watch and learn. There are way too many people buying and no one selling --- which seems like a great thing, but what happens when everyone is selling (including yourself) and not enough people are buying??? It may be too hard to get executed and you'll get dragged down with the pile. I'm good on this one...... Hopefully I'm proven wrong and can learn to trade plays like this better =) ------ 10:57AM: Mmmmmmm, CANN definitely fulfilled my hard sell of 1.10, so decent bounce; but I was correct about the super sketchy illiquid price-action as the volume completely fell off after the panic.

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PocketPAT

In and out of PSTV after the panic down to the 10.00 ideal bounce level. Got in at the top of the ideal bounce region at 10.20 for the supposed bounce, but exited at 10.07 (roughly $30 loss) once it began to crack further down to test 9.80 for the true bounce. Once again, great performance in reading the price-action and cutting losses quickly; and I was correct about the bounce level (albeit the initial bounce was only small-to-medium). Predictable reversal at 10.60 resistance. I won't be trading again today, two trades is more than enough =)

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PocketPAT

LOL In and out of TRNX for a $60 profit with my cat in my lap. MuAhAHaHAhA =) ... Beautiful patience, watching from the first crack and not having FOMO; waiting for it to potentially panic down to my ideal bounce level at 0.60 support. It's been on my watchlist for a week or so, looking for a panic down to 0.52, but I've learned to start taking advantage of the smaller panics to predictable, more recent support levels like this one today. It could still run further, but I'm very happy with my ability to watch the bounce slowing down and exit effectively before it took back too much profit. I don't want to hold and hope for too long (giving it too much time to reverse). Exit before the other traders decide to do so, for maximum profits. My position was up at about $91 before the bounce began to reverse. I'm happy with the amount of time I gave it, since anything under $100 to me is a scratch anyhow, but very pleased with my performance overall. If I can remain consistent with this, I will double my position sizes. Now that I've given up on sizing into positions, I'm back to having six trades per week to take advantage of smaller, more speculative plays.

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