All right everyone. good morning. So we've got about 30 minutes to the bell. Nothing really going on too much.

Um, pre-market this morning that I've at least seen that I thought looked good. However, we've got, uh, the coinbase ipo today, so you know I I like to trade ipos. Um, especially when they're kind of hyped up and I think this one is. You know, it fits the bill.

A lot of people are excited about it. The reference price was dollars by Nasdaq, and um, you know, we're wondering about maybe a 350 350 open somewhere around there. So generally the way I look at trading something, uh, like an ipo is a dip and rip type of strategy. It's kind of the same as trading a stock that's just resumed from a halt where it all of a sudden starts trading dips for just a second and then rips.

um, back up. So I, that's that's kind of. You know, that's generally my approach. That's what I've done on a lot of ipos this year, I, or last year or whatever it was.

Um, we got a good good one on. um. Airbnb. Doordash I don't remember even was that earlier.

This year was the end of last year. I didn't remember. now, I think it was. But in any case, that's kind of the idea.

So it's going to have a lot of people watching it. You know, not just sort of active day traders, but also people that are in the crypto space. Um, so I don't know. Um, I think that that one's definitely one to keep an eye on.

Someone had asked me earlier. kind of. You know what? my long-term thoughts are on it and I don't have. I really don't have long term.

I'm not a buy and hold type of person for my day trading. Obviously, I'm I'm day trading. so I'm get in and get out. It's just never been my approach to buy and hold.

and you know there are some ipos. What often happens with ipos is that they, um, they open and they might be strong for a couple days and then they sell off for a period of time you have. Also, you also have to be very mindful of the fact that insiders will at a certain point sell shares. There's usually a lockout period where they cannot sell, and I haven't actually researched coin.

I don't know if anyone knows what the lockout period is for insiders on coin, there have been some ipos where there's no lockout, so Fred says there's no lockout. Uh, Brian also seconds, no lockout. So um, yeah. so um, so it's right.

Okay, so it's a direct listing. It's a little different than an ipo. I mean, yeah, right? Okay, so that yeah, that could be a little bit of an issue we may see because there's no lockout period. we may see selling.

Uh, right on. Um, right as it begins trading. I mean, insiders are going to take it as an opportunity to sell. We'll see.

Uh, of course there's al. also, um, those who want to buy and so we may see opportunities there for um, for a long trade. So in any case, we don't know exactly when it's going to start trading. It's scheduled to start trading today, but you know it, that could be and it may start trading today.

Well, I'm 99 sure I'll start trading today, but it could be at 10 a.m It could be at 11. It could be at one. It could be a two. There will likely be delays, will kind of just be sitting here with the coin coin symbol up and the level two up.

Just you know, waiting for it to begin trading. So all of a sudden tons of volume is gonna flow through. It's gonna start trading. and just like that, um, you know, we'll we'll be, we'll be watching it.

So that's that. Um, but. but it does to me make a difference that there's no lockout because uh, this could just be the opportunity where insiders uh, who have held for a long time cash out. That would make sense.

That's what a lot of people would do. So there will be selling and that's that's what it'll be caused by. But there's obviously people that are going to want to buy it so we'll see what happens. Okay, so let's see, um, we may we may look at.

and I also just sort of As one more note, um, the market has been irrationally strong. I mean, given the Gamestop momentum, I, I sort of feel like the coin uh, Coinbase buyers could be similar to Gamestop buyers, and that could just be because I sort of associate that younger crowd with also being into Bitcoin. maybe a bit more than I am, But um, I don't know. It makes me think that there may be.

We may see that some of that irrational strength, but that could just be a perception that I have. That's not the case at all, so we'll see what happens. But like I said, Dip and Rip is is probably what I would be looking at as a reminder. As always, day trading is risky.

Most beginner traders lose money. The strategies that I trade are aggressive. I have a higher risk tolerance probably than most, and so you should certainly be mindful of that. And trading a simulator trading ipos.

whether it's a direct offering or an ipo. They're so volatile it's very risky. It's not for beginners, and it's also not for traders who don't have the software to be able to capitalize on the very quick moves because very, very rapidly we could see. you know, a five point squeeze and then a ten point drop.

And if you're not able to execute orders, you're just a second behind. It could be bad. So um, yeah, I don't know. I think that we'll we'll have to see, we'll have to see what it does, but could be a little dip and rip but also, um, could I and I? I don't know.

if you I to be honest, I don't know exactly how it works. Um, you know, if you were an employee at Coinbase and you got, um, you got shares, you know, what broker, what broker are they with You know were they with one of these brokers like a was it like Trans America or something where you have to call them and say hey, sell my shares because if that's the case, then they're not going to be selling the second it starts trading. it's going to take them some time. Have they already are their shares already kind of sitting in an account? I I'm not really sure because I've I'm not on that side of, you know, uh, the table.

so I don't really know exactly how it works and whether or not they are in a position to be selling within the you know, minutes of, uh, the of trading beginning, or if it's going to take them some time to make calls and maybe a couple days to get them transferred or to see what they are. and um, things like that. So let's see. um, thank you guys on uh, Youtube and Facebook for tuning in for the morning show.

Uh, we host the morning show here every morning between yeah 8 30 to 9 30. Somewhere during that time I go live all right. So since Coinbase Coin is going to be kind of a later morning trade, it's not going to be a pre-market trade. It's not going to be a Gap and Go trade.

We're going to put that one aside for right now. And let's look at the Gap scanner. So our Gap scanner is showing us that the leading gap is up only 33 percent. The 33 percent is not a big gap and it doesn't look that great right now.

It went from 250 up to 340, then back down to 270.. now it's above the V-wap but 294. I. I just don't know that this is particularly interesting Right here.

It's 22 million share float. It's just. I don't know. I don't see it.

Second, Gapper Discb, Discovery Inc. It's got less than 3 000 shares of volume. So okay, it's up 22 percent. Is there news? I don't see any news.

What does the chart look like? All I see are two little blips all right. Next one down, Utsi, Utsi 1.79 That's a little too cheap. I don't really like below two dollars. so I look at the chart, I can see it's already selling off a bit.

There is some news on it, but I don't really like the price or the chart. so that one is off the list. Btbt. Now this is a crypto uh, bitcoin stock, but it is selling off so nothing there.

L Lbph What's this one? Uh, another one on light volume hit a high of 18, sold off to 13.. however, is a somewhat recent ipo with Blue Sky above 1895.. Interesting. So what's the headline? Now let's see again though.

Only Eight Nine, Ten thousand shares of volume. But let's see what the headline is. Let's see. So Covered by Citigroup earns a buy rating.

Hmm. Buy rating of 27 dollars? Hmm. hmm. Interesting.

Okay, so the quiet period so this is the lockout will end on April 21st. So you have another week. One more week. Where the 5 million shares? Um, so 5 million share ipo? Okay, where um, the insiders underwriters are restricted.

Oh wait wait okay, restricted from issuing any research reports. So you know this is a thing with when you have an ipo. you not only have, um, the company who of course wants the stock price to stay up, but you have the underwriters who want the stock price to stay up as well. In the case of coin, they don't have an underwriter because they're a direct offering.

Interesting. So uh, this one Lb Ph. you know it's a it's hard. maybe it doesn't have enough volume right now.

If it gets more volume and it gets above, it starts to look like it's going to get back above 1819. Maybe. but I don't see that happening. Uh, right now.

But maybe all right. Next one down. Mbrx. Okay, I'm just looking at all these leading gappers, so some of them have light volume.

but I'm looking at them anyway. So Mbrx, let's see. high is 423. I don't like the chart.

What I don't like about the chart are these big red days has a history of gapping and fading Tv. No next one down Glsi. So Glsi. You know we've had some opportunities on this one.

God Lily though, look at that drop. Three days from a high of 69 all the way back down to a low of 34. Ugh. I don't like seeing that kind of drop.

Hmm. All right, C-u-e-n Remember, it only takes one, It just takes one that looks good. One good trade a day. That's all it takes.

By the way. I've got a new student, um, who's in the 50k club Blaine, a member since May, so coming up on one year. Not bad. We also have a member who committed to tattoo the entire their entire lower leg dedicated to warrior trading as soon as they get into the 100k club.

So that's your news for today. He even offered to get a tattoo of my face on his leg. so we've got about 12 minutes to the bell. Um, as a reminder, my results are not typical Those who are in the 50k 100k club, their results are not typical either.

As you probably have heard me say before, most beginner traders lose money. You can see the disclaimer on the very bottom of the video. I'll put it up again here, though. trading is risky.

Last, uh, last week was tough for me. I had a thirty thousand dollar red day on Wednesday yesterday. I went from up four grand to down four grand. So I finished down four thousand dollars yesterday.

And although uh, I had some temptation to try to recoup those losses with some afternoon trading, I remind myself that being down 4 000 for me, uh, is negligible. It's like that's that's not even one good trade. That's less than one good trade. One good trade at this point would be probably ten thousand dollars.

So it's like, why struggle to try to make back four grand on a day when the market clearly is not that hot. Just so what. It's so easy to get bent out of shape and think I need to be green today. I need to be green today.

Sure, we'd all love to be green. Every single day makes us feel better about ourselves. But um, you know that's not the reality of of day trading. The reality is at best.

You'll probably be green four out of five days and read one out of five days. So you better get good at losing, because it's gonna happen a lot. Being a successful trader is about being good at losing, lose gracefully, take the losses quickly before they get really big, and live to trade another day. So here's my equity curve for you.

Uh, oops. So this is the last. Um, you know it's the last couple weeks You see things have slowed down a little bit. You know, I had some really big green days.

Uh, well. pretty big. At the beginning of March, things have just kind of. The market has slowed down a little bit.

It's the ebb and the flow. But if we look at any long period of time, you'll see those sort of waves go up and down, up and down. So keeping a loss like that, I can easily recover from it. So sitting up here, uh, you know, kind of just under my high of of, well, all time.

These are literally all-time highs for me. Right right up here, we just look at the month of April. I'm probably only up 50 000 for the month of April and 58 000, 48, 000. So after fees and commissions.

So I mean, I really haven't made a lot this month. But and this is where I got my afternoon trading. My reminder not to do it. So it's been a little bit of a choppy month, but that's not unusual for me.

I had two months last year. Maybe it was even three that were either break even or red. But there we go. So now I got green on Mondays.

I'm up two thousand, Eight hundred dollars trading every Monday so far, this year, every Monday. So far this year all I have to show for is 2800 bucks so I could start taking Mondays off. But Tuesdays, Wednesdays, Thursdays and Fridays are good and today is a Wednesday. This has been my year.

It's kind of like went red on the year 160 000. Green gave back half and then started this. You know, basically since February been really trying to be dialed in and take it slow and this may just sort of flatline here for a little while. hopefully still mostly going up as long as I can avoid any big losses.

Small drawdowns like this are okay and then just waiting for that next really nice trade. That next stock that goes crazy. Something that I said yesterday which I would still stand behind today is that because I said yesterday I was like I think I wanted to go on vacation. Uh, you know, this is kind of.

I think that that's just it's just not a lot of fun to sit here when the market's just like watching paint dry. It's just it's dead. It's not a lot of fun, but the problem is, what I think is probably gonna happen is we're gonna have days like yesterday and Monday where it's just dead and then you'll have a day where just all of a sudden a stock everything is dead except for one stock and it goes up like 400 and you look at the end of the day and you're like where'd that come from Doesn't even make sense and what happened was it started to pop up and all of a sudden everyone spotted this one opportunity. This one opportunity for a big trade and everyone kind of jumps in it.

It just that collective trading mentality, traders all around the world just oh, this is the one jump on it. And then all of a sudden you've got short squeeze on your hand and off it goes. and then the next day you're sitting there looking at the Gap scanner and that stock faded. It didn't hold up.

It's not good for continuation, nothing else looks good and you're like oh man. so it was hot yesterday. kind of on one stock. I come back, there's nothing, and maybe there's another two days of nothing and then all of a sudden again you have this sort of random stock that pops up, becomes a center of attention everyone's focusing on.

it gives you a lot of opportunities and then dies, and that's sort of the beginning of the market heating back up because those type of stocks that make those moves are certainly going to make short sellers a little bit more conservative on shorting anything that pops up. people are going to be thinking wait, hold on, Let me just wait for extra confirmation and long traders are going to start to get a little more aggressive jumping on the next thing that starts to move and that's how that kind of, you know how. it's sort of. the momentum starts to shift.

So when you have a period where you don't have a lot of momentum, it just takes a little bit for it to start to pick up. And so that's kind of what we're Um, that's kind of what we're looking at I think here so I probably won't just go away for you know, two weeks or whatever. but I'll probably be. You can expect that.

I'm gonna be trading less right now and if it just so happens that those big moves are at like 2 to 4 p.m or after hours, I'm just gonna miss them. There's nothing I can do about that. So I'll do the morning show and if there's anything that looks good, I'll trade it. If not, I'm just gonna kind of shut it down and be patient and just relax knowing that my energy is sort of.

It's better to wait for the hot markets to come back. You know what I mean. Um, I was thinking about the deadliest catch. You know, the Tv show and you know they have.

They have a a season. They have a season where they fish right? Well for certain species of crap and so in that little window they have to just you know. Go Go go go go Go. Now if it was a, uh, you know if it was a fishery that you could just fish like all year round, let's say you're trying to catch salmon.

You know there's there's a window where salmon is running And you know in that window you can catch a lot. And then when they're not running, you could dip your net in every single day. For the next you know, eight weeks you're not gonna get anything. Does it really make sense to keep expending your energy in that way? And I think right now we're in that market where, um, you know there's no.

there's no salmon, There's there's nothing happening. So continue to dip your net back in, continue to try to catch. There's nothing to be caught. There's just nothing here right now.

And so it's better if you know you have opportunities to go back and review previous trades or study. Or there's other things that you can do that generate some type of revenue or income or whatever the case is. Those are all good uses of time right now. And practicing a simulator is a fine use of time as well, That that's okay.

But trading with real money you're putting you know, real money on the line. You're taking real risk, so that's where you've got to be really cautious. So you know again, like I said today, um, I just we've only got three minutes to the bell and I just don't see anything. Um, at the moment that looks good.

But let's go back to the top of the Gap scanner and go back down again. All right So Galt G-a-l-t D-i-s-c-b I don't even know what to say on that Tv. So Tv is moving a little bit higher. Um, 68 000 shares of volume.

It's a 500 million share float. Uh, alim 9 A.m news so popped up to a high of 13.50 Not much volume on this. I don't know if I saw this one earlier. Two minutes to the bell tomorrow is thankful Thursday.

So uh, tomorrow I will be donating 100 of my profits to charity. I didn't. I didn't decide to do this this month because I thought this month was going to be slow. I thought this would be a fine month.

This will be the third Thursday. I've donated 37 000 so far this month to charity. I'm up 48 000. So I've donated 75 of my trading profits.

uh, for the month charity. So we'll see what we get here. Uh, but I did it because it's the anniversary month. So it's been six years since I wrote and published had a day trade.

It's been seven years since I started the first version of our day trading classes. But yeah, we've got one minute to the bell and it looks a little slow today. So uh, game plan for um, those you guys were your pro students. We'll be sitting here hanging tight waiting for coinbase uh, coin ipo And we'll also be watching the high day momo scanner and we'll see if something pops up that looks obvious.

Let's see, maybe something pops up and looks obvious. Maybe maybe Galt? Yeah, maybe maybe if it gets back above three Utme daily setup. I mom, I don't disagree with you. I see that's the first daily candle to make a new high.

You've got light volume on it, which is going to be continuing to, you know, present an issue. but this is a swing trade strategy. I and the target is 10 when you do a swing trade. So like this, at least in my opinion.

So if you were in at 60, your target would be 66. Uh, 67.. So you know, but light volume? so that's that's A It's a tricky one, it's a hard one to trust. But anyways, that's the game plan.

We've got just a few seconds to the bell. I'll put up my disclaimer there again as a reminder in case you didn't already know that day trading is risky. 20 000 shares of volume on Utme, so you've got light volume and the halt going down is at 51.88 So let's watch our Hyade Momo scanners.