All right. So we've got about 45 minutes to the opening bell here and uh, you can see Drug is up again up. Uh, 17 18 right now. So I got some trades on the move up.

Um, traded it. My first trade was in my main account. I was accidentally I forgot to switch to my retirement account so I've got 1300 in my main account and then I switched to my retirement account and I've got 3 500 there. So sitting 200 off my 5 dollar daily goal here at, you know, Eight Forty Five.

So that's pretty good. Um, Drug has at this point right now. Two, four, Six Eight, it's on its ninth green candle in a row. It's extended so we'll see if it pulls back.

It's also right into daily resistance at Um, Three Forty Five. So this was this level here from Um earlier in the week. hit 345 and pulled back. so we're kind of double topping at that level right now.

Uh, previous high was 475. I kind of feel like it's overdone. I mean, I've traded it, I think almost every day this week. Usually when we get to that kind of point E I mean, sometimes I'll have a stock where I will trade it every day and I'll keep doing well on it.

Um, that sometimes happens like Pgy, but you know eventually it's stops being a good Momentum stock and it starts getting a little too choppy and I need to leave it alone. So I was kind of surprised today. But at the same time, what gave me the confidence to trade it today was the really strong close. uh Fri.

sorry going Thursday yesterday really strong into the close back up to 310. So I was like, you know what? this thing, it looks like it might want to pull away and if it can break through that level over 345 then we're looking at a move up to four So you know I think it's worth keeping an eye on. Right now it's pulling back so it's due for a pullback. It's had six green candles in a row, so I'm going to let it pull back.

You know I'm fine with letting it pull back for a bit and then we'll see, um, whether or not there's um, there's another opportunity on it. so that's that's drug. Um, now if we start with looking at the whole market, the S P 500, Um, we had a we had a nice rally yesterday. Um, the market was strong up to the 200 and then pulled back, came back up and then through the 200 into the close.

The 200 moving average here on the daily is at three, eight just under 318.. So it blew right back through it and you know now, pre-market we're back at 418.50 so we're still above it. We've got, um, the speech at 10 Am Powell from Jackson Hole so people are I know talking about? Oh god, what is he going to say? Is he going to use the word? You know? Whatever. You know, they're so dialed in on like every word he says.

uh to get a hint of the direction uh for the Federal Reserve is going to take with with interest rates and quantitative tightening. So you know we've got some economic um influences today. But we'll we'll see how. um, we'll see how those play out.

You know. I I've always kind of used for my daily charts the ema. Um, and I mean you could see it's there. But you're right that there's a lot of traders that use the Sma.

So um, if we type in here moving average, What I'll sometimes do is I'll add the Sma and I'll make it a purple dotted line and then sometimes you know For whatever reason my um, this is what I was going to go for. Um, 200 Simple. So you can see how the simple lags behind on these moves. We're kind of zoomed out.

But yeah, if you're using the simple then we just came up to it up here. So we're kind of in between those two. the simple and the exponential. That's pretty hard to read, isn't it? I'm gonna go like that.

Uh, so yeah, it's valid. It's valid to keep both on watch because there are traders out there. They use the simple instead of the exponential so you know it. It's valid to keep both on watch.

Okay, so we've got low down here is 31. uh, we still have about 40 minutes to the opening bell and it is Friday? Yes, I believe. Uh, Jay-z ipo is today. It's a Chinese stock traders are talking about it.

Let's see, be careful on drug. If you find yourself getting into early when it's still extended, you could have a you get caught in a bull trap. So Jay-z Ipo: 5.5 million shares. They raised 25 million in their offering.

We'll see what that opens at given you know we've obviously had Meg L. Hkd. We've had some big, um, you know, big momentum on some of these Chinese ipos, but I think we just have to be cautious. drug waiting for probably more of an Abcd pattern just to really get it positioned well for a nice breakout.

So leading Gapper right now: Mf Gp up on a acquisition buyout. Next leading Gapper, Bx Rx. this one is a little cheaper at 91 cents. has pulled back below V Third leading Gap or Fhs also cheaper.

Fourth leading Gap or Ikt also cheaper. Fifth leading Gap or Drug. I've already talked about it Evbg, so I think we're continuing to deal with the lack of really strong catalysts. There's a few different things popping up, but um, waiting for something.

That's really obvious and really clean. So so how do I know when to take the first five minute or first one minute candle to make a new high? when something is moving very quickly like drug. Um, and on. sort of the first leg up.

I'm gonna be most aggressive buying micro pullbacks, so this kind of area most aggressive. It's breaking away, it's pulling away. So any of these pullbacks are super valid. Once you start to get a little more extended once the Macd kind of curls over, now you feel like you're on the pullback side of this move.

And so this is where we can start looking at the first five minute candle to make a new high. But in this case, we're extended off our moving averages. So that first five minute candle to make a new high can often be a false breakout when it's really extended. Which is why we sort of get that initial move and pullbacks on the one minute.

and then by the time the five minute is setting up, it just becomes a a bigger pullback. Um, so I'm I'm not really. I'm kind of waiting for a little bit. uh, more conviction in it.

You know you're coming back down here. It's breaking its 20 moving average. It's still well above the V web. The V Wap's at 4 18.

so we're fine there. But the 9 moving average on the five is at 3 26. I believe the speech from Jackson Hole is at 10 Am. Um, I don't think of base hits in percentage terms.

You know, a base hit to me is five to ten to fifteen cents. on a three dollar stock. That could be five percent. Potentially, you know, on a thirty dollar stock, it's only one percent.

I mean, it's like nothing. half a percent. but uh, you know, at the same time, your risk of course, would be higher on a 30 stock for the trade. But yeah, I usually I'm usually thinking about um, base hits as being like five to ten cents If 25 to 50 cents is like a solid trade, 50 cents to a dollar a share? That's parabolic.

usually when you're getting that. So overall market is grinding a little higher. We're coming up to 9am top of the hour, but it is Friday. it is August so I don't know that we're gonna have any big headlines at the top of the hour.

but we should keep our eye, you know, eyes on the news headlines just in case. Reminder for those tuning in for the Morning Show on Youtube. Thank you guys for being here. I hope this is helpful.

Uh, as you build a watch list and look to see what's moving in the market today. But reminder: This broadcast is delayed behind the ultra low latency broadcast that members have over at Daytrade, Dash and Warrior Trading. So just be aware of that. Don't try to blindly follow me or anyone else.

trade cautiously. Also, on Youtube we have ads, and of course we don't have ads on the broadcast for Warrior and Dash members. Okay, so we're coming up to the top of the hour here. I don't like this bigger red candle on drug.

It's a it's a large, you know, long body red candle. It opened at the top and it closed at the bottom, so you know that was five minutes of pretty bearish activity there. It did bounce sort of off of that 330 level, but you're only up eight cents off that level if you got in there. probably only up five cents if you got in at 32 or 33 on the ask 30 on the bid.

So watching top of the hour So you know the thing with these patterns is that if this were really strong, we wouldn't have spent 25 minutes pulling back. All right, We maybe would have pulled back for 10 minutes which would be three, two, five minute candles and then on the next one we start to open up. Then we pull back a little bit and maybe we're consolidating near the top of 345, but we're consolidating more on the low side here, so this is not showing the strength that I was looking for. Now if I recall yesterday, um, we had this breakdown and then at the open, a nice surge so I think it's still worth watching.

but right now I don't see the setup so we'll let it keep pulling back. Lower volume right in here, so so just kind of sitting tight right now. Not too much going on. Jay-z ipo.

I mean, probably between 10 30 and 11 30 if I was gonna guess. So this one's hyped up. Traders are talking about it because of Meg L. and Hkd, but ipo won't be till later in the morning.

Most likely S P 500 Pulling away a little bit more on the gap showing. now a gap up. Nice rally in the last hour. Um, drug sell-off accelerating a little bit there on that candle down through 24.

23. So we ran into that level at 3 45 pretty much and pulled back off of it. Bed Bath and Beyond. Not very interested in this.

It's below its 200 moving average Kprx cheap. Saw some people mentioning it yesterday as well. So I do have a little bit of a cushion this morning, which is, uh, nice. but I want to make sure I use it wisely to try to size up on setups that I think might squeeze.

Hey Brent good morning! So so if you look at the action yesterday morning on drug, it sort of blew through the V web, sold off, and then there were some trades at the open. so low that candle there is 20. bought 3 500 shares but only got a small position there at 320. it's a entry at volume weighted average price.

We'll see if it holds this level. If it does, I can work with the position. If it doesn't, I can stop out. probably for a two cent stop around 318.

I'm not sure it's going to hold V web. Macd is against the trade, but it's off support at the volume weight average price. So hi that candle is 26 hi This five minute candle is 27. add there at 26.

And now we're getting a green candle coming back up. So watching ads at 30 and 35 for the move back up to 45. So nice. Dip off V whap high.

This candle is 34. watching for an add 35 for a squeeze back up to 45.. So watching there's green at 33 added at 33.. Now looking for the break of Uh 335 and I want to see if we get up to 337 338? There's 35 added now looking for and I want to see if this wants to squeeze up to 345.

So I would say a realistic target on this. If we break 345 that pivot then we're starting to look at a move up to four dollars high. This candle here is 36. watching 36 and 37.

there's 36 on the ask. A little profit there watching next candle through Uh 36. new order at 40. watching the ad at 40 watch the seller come down watching over 340.

add it at 40 for the break through this level. I want to see if we squeeze up to 350. would have been nice if it had broken cleanly at that level. Watching for dips, there's 37 38 coming back up for another attempt.

I want to see us break through 350. That would be really nice. We've got about 10 minutes to the opening bell. reminder for those on Youtube.

Thank you guys for tuning in. I hope you're enjoying the broadcast. I hope it's helping you build a watch list. The Youtube feed is slightly delayed versus the ultra low latency stream for Dash or and warrior members.

so watching here added there at 40.. So looking for that seller to get bought up and there you go? there's 41.. booking a little profit. I was hoping an initial squeeze right up to 45.

watching for pullback dips? New order: 45.. So I've traded and booked some profit along the way up. Nice volume on this candle. New orders at 45.

So now we're kind of starting to set up. Maybe an Abcd pattern hit a high there 42. I'm flat on my position for right now. I'm gonna let it pull back and see if I can get another dip.

Yeah, I'm watching. uh, the Jay-z ipo. I'm interested. I'd like to see what it's priced at, uh, when it starts trading.

so I've been able to capture some gains on drug this morning 5300 in my retirement? 1300 in the main account. So 600 right now, so I've got a bit of a cushion. I tried to buy, uh, 10 000 shares here, but I only filled 3 500. kind of a shame that could have been.

Um, you know, A bigger winner from a bigger starter, but you know how it goes. First-hand value fund holding here. Systems selected for U.s Space Force Tetra5 program. That's cool if all options are exercised.

Valued at 45 approximately 44.5 million, your 200 is around three dollars. So Jay-z is on a side chart for the ipo. Drug is on Watch going into the open. We've got about five minutes to the opening bell.

Add it back at 39 on drug. Next ad is 43. Now looking for extension on the break of 45. So new ads is going to be 46 and 47.

adding their 46 and 47. Looking for the squeeze through 350. This is a flat top breakout pattern. New orders at 55.

So I'm looking at this here for that extension. through this level. Watching 49 and 50 to start to size up on this. I've got a cushion and we've got half a million shares on this candle right here.

Adding at 49 there's 50. Next ad is 55. now we're looking for a squeeze up towards 4. adding right there 55 there's 59 60.

looking a little profit there on that break. New orders. it's 58 Watching here, added at 58. now looking for the squeeze up through 65.

so I bought that dip. Very nice break. Love seeing these breakouts. Super clean.

Nice job for those that booked profit on this move. Hi This candle is 64. 600 000 shares on this candle, 400 500 on the last one. That's 1.2 million shares in two minutes.

It's 10 of the volume on the day. Right There High is 364. new order 365. watching the dip added at 60.

now looking for the squeeze through 65. I want to see this extension as we go into the open. This I think is the most obvious stock today. even though it's only up 25 based on its daily chart.

I think it's the one that a lot of traders are watching. So new order goes at 65. we're looking for the break of 62 63, 65 and then extension up to 375. Back of mind.

Uh is the high from a couple days ago which was 475. So now I'm going to watch pullbacks off of 350. there's 69. Look at that.

Do you see that print how it just popped to 69? New order 70. added right there. Now what I think is going to start happening. Our shorts are going to get squeezed out on this move.

watching over 75 for the next ad and now looking for extension on a move up to four dollars. Okay, so watch right here. over 72. there's 71.

looking for the Ad 7273, then the break through 75 as we come into the open and I'm looking for that extension squeeze up to four dollars. So watch the break of 75 and then let's see if we get a break of 80 85 And we push up to four so that candle there high is 73. New order 73. we've got a minute to the opening bell and I'm gonna look for this extension at the open and the squeeze up to four dollars so that's the game plan.

Thank you for those who have tuned in on Youtube. I'm going to keep trading for those at Warrior Trading and on day trade dash and we're going to see if we can add some more profit on drug today. Okay so watching 3 73 and 375 for a squeeze going into the open so watch here for add over 3 7.