What's up everyone? All right? So this is an unusual day. You're not gonna see this a lot. Today's a day where guess what? No trades eye you know when as you when you watch the recap you'll you'll get to see what what happened. But basically this morning the top of our Gap scanner were to higher price stocks and you know above ten dollars always have to be a little bit more careful given the fact that yesterday I had a decent sized read day down almost six thousand and obviously given the fact that in the last week I also like we could go have a pretty big read day now I'm feeling like I can't afford to take a lot of risk and so trading these higher priced stocks is very risky.

Well as it turns out the stock that we were watching ended up this morning going from about let's see it was thirty eight dollars all the way up to seventy dollars per share. but unless than a hundred thousand shares of Bollier you know. So as a result the spreads are really big at times four dollars per share and that is very risky. So could I have taken the risk and gotten the payoff you know, maybe today I could of trying to take a risk yesterday certainly didn't work out and you know and you've had a big drawdown, you start to bounce up and then you draw down Again, you don't want to keep going down, you need to just minimize the draw down as much as possible.

you know. Yesterday I had a little bit of a cushion from a couple green days on Thursday and Friday but I gave back that cushion. So now I'm back to the bottom of the pullback. I gotta just dig myself out.

and that means focusing on trades that I have a really high level of conviction in where I'm not chasing it I'm not giving in to FOMO and I felt the FOMO creeping up today as I watched the stock go from forty to forty-five to fifty. I'm like ah man, I should I coulda shoulda woulda Now it's a sixty seventy but stayed. You know, true to my rules, didn't trade it to the long side, tried to go short at 64 and then shares available to borrow and then the second one you know made this kind of big move from about six dollars and fifty cents up to ten bucks. but then it came all the way back down to see 50.

So I'm glad I didn't chase it and it didn't give me a pull back. So follow the rules and today's a day work. Following the rules felt like punishment because I missed the opportunities of course yesterday, you know I broke the rules and I got punished for it as well. So yeah, over the long haul, following the rules of what keeps you in the game.

So live to trade another day when we back out at first thing tomorrow morning. And a reminder guys tonight 7:00 p.m. Eastern I'm hosting my free Day trading workshop. so I would love for you guys to stop by.

Join me, it's gonna be a lot of fun. You click below to reserve your seat. Alright, so I'll see you guys tonight 7:00 p.m. and everyone else will see you first thing tomorrow morning.

All right everyone. So we're gonna do midday market recap today. Go over the trades from this morning. Today was kind of a crazy day in the sense that we didn't have a lot of the kind of typical momentum we would expect.

What really kind of led the momentum today was Hunt. This one was on our Gap scanner this morning and I'll go to the time frame here 9:25 a.m. However, you know it really didn't meet my criteria for being the type of stock I would trade for a couple of reasons. Number one, the float shown here is 15 million shares, but number two, and more importantly is that the price is $33 Yes, it was up 80% but the volumes only 25,000 shares so it's very, very light volume and when the bell rang, it had really big spreads.

Now you know for me, I'm in a place right now where I've taken a couple of pretty good-sized losses in the last week or so of trading and I really need to cut that bleeding and start to turn it around and start to, you know, make some money. So I feel like I feel like today? I I Looked at Hunt and I was like boy, this one has the potential to either you know, make it or totally break, break it and I don't want I really cannot afford another big red day I mean it's I had a big red day last week, bounced back on Thursday and Friday but then had another red day on Monday yesterday and so you know, basically gave back those two days of profits which puts me back at the bottom of my hole. you know I'm trying to dig myself out I Can I have to be really careful when you're at the bottom of the hole of a drawdown? the last thing you want to do is try to swing for the fences because what can happen is you can double the loss and you can just go deeper and deeper and deeper. you can start to snowball and you don't want to do that I've done that before.

What you want to do is you want to start digging yourself out and if you take a couple shovel fulls, you dig yourself out and then you fall back down. You know that's okay, that hat sometimes, but you just got to keep going one shovelful at a time, one brick at a time and make your way back up. So Hunt for me was one that I didn't see as being a small shovelful. No matter how I traded it, it was either gonna be a big win or a big loss.

And so here's the bail. This is at 9:30 This is a live trading here my recording and so right at the Bell we have a LDX which was on watch but also above $10 higher flow so I wasn't really feeling that good on it and Hunt has a spread here of $2 a share. So I'm like alright, well you know I don't know about this. You know it's gonna be pretty risky and you know and look all of a sudden here.

Now you've got a spread of 33 by 36 $3 a spread and look at that 33. 30 by 37 80 that's a four dollar and 50 Cent's spread. That's a huge spread. If you bought a thousand shares right there, you'd be down 4500 dollars on the bid.

Now you know I mean I'm not saying that you need to take a thousand shares, you certainly could have taken smaller size, but you know this This for me, when I looked at it even a hundred shares, it's like that kind of risk is just it's It's not in my price range. it really doesn't fit into any of my criteria, but here we are. you know, 37 on the ask. A three-point spread Now spreads tightening up a little bit.

only three points a LDX I was kind of watching over $13 but then it ends up selling off really hard here dropping back down so that doesn't give me an opportunity. Hunt: 33 30 by 36 so still you know 40,000 shares of all I mean it's up 95% but it's not. It's not giving me anything I can trust a Ldx back down to 12 so that doesn't look good Atos will curl up a little bit here, but you know pretty much I'm just like, well you know I'm not sure I don't I don't know what I can what I can do. So let's fast forward a little bit.

So all of a sudden here. hunt now it's 35 by 39 50 so that's still a four dollar and fifty cent spread which is pretty crazy and so I'm like, well obviously I can't trade it like yes I see that it's making new highs but you know I can't that's not something that I can take a trade on. Let me pull up my chart here. I didn't have it up on my main chart just cuz I wasn't really focused on it all that much and let's see.

all right I mean I was a lot I was watching. It was just sort of like, you know, out of the corner of my eye. So let's pause this for a second. So I'm gonna pull up my chart here.

So the chart I was looking at on the one minute, come on, what's going on here? There we go. So right out of the gates we had this little kind of 1-minute micro pullback. this little, you know, consolidation. The high was 38, you know and here it pops up to 39 44 which is what it's at right now.

but of course at that point still a 3/4 dollar spread. So you know I don't take the trade and then you'll see it squeezes up here to 44. This thing ends up hitting a high of 70 dollars seventy dollars now. even right now 10:40 its back at $40 and it only has two hundred thousand shares of volume even now.

so this is very very light volume. I Mean it's been, you know in almost an hour later and we've only added an extra hundred fifty thousand shares. so not a lot of people have. really, you know, pull the trigger on it and it's because the risk, no doubt very high.

So you know here you have it and then boom. all of a sudden now getting a little phone one I'm like son of a gun, you look at this thing now it's at $44 Man, yeah you know it's like had I pull the trigger with a thousand shares or even 500. you know now I'd be up nicely but the same time to take that trade would have taken a lot of risk and after having a read day yesterday, my only goal today it was to be green I cannot afford to have another big red day. So at this point I'm like, well you know, dang, it looks like I'm gonna miss that trade.

it's gonna resume from the halt here. So here we get the resumption. You know you can see: I've got an order for 500 shares, but I'm like I won't buy coming out halt that would be, you know, pretty impulsive I put an order at $50 I'm like I'll maybe over 50 but then I'm like yeah and it's only 73,000 shares a volume that's throwing me off. The volume is so so light.

so I put in order for 250 shares, move it to 50 bucks and I'm just kind of watching it. I'm like all right Well this is a little bit of a micro pullback here. coming out of the first halt, you know, maybe just give an opportunity. but I don't know and you know volume doesn't really come into it.

As you can see, you know volume doesn't come into it I pull up another stock kind of looking at other stuff and now here you go. It's up to 55 to get halted again and I don't trade it and like, well it's only 5,000 shares of volume and now it's you know, halted again I Try to get shares available to borrow, don't have shares available CTRM then hits the scanner with 80,000 shares and is halted. Now this is going up to $62 Its halted again, only a hundred thousand shares of volume. so you know again, it's like so actually what I said here is I'm gonna take my first starter short.

this is where I would take a starter short of a hundred shares and again, this is risky and I don't know if shares available to borrow so it's only you know, pretend. but this is where I was like I think it's gonna reverse. We've already got a couple halts going up so I'm gonna take a starter at $64 short 100 shares. so I'll call that out for you guys.

some of you guys do that, shares available to borrow CTRM You can see it's halted at 640 so it squeezed up and I say you know I probably add another hundred shares right here at 70 because I think there's a chance it does a false halt and even if it doesn't I still think it's probably gonna reverse. So now I've got 200 shares short at about 68 dollars or so $67 All right. So now we've got CTRM which I'm looking at and I'm like you know On the one hand you could say well geez, Russ you know CTRM was is is also a maritime stock. You can see both of these are maritime sector Merit Maritime.

You know it's got a clean daily chart. no doubt about it. Daily resistance? not till nine bucks. Go ahead and jump in.

but that eighty thousand shares is what's throwing me off because that's a very light volume and so I'm just kind of like I don't know, you know and I missed getting in before the first halt. so it's gonna resume from the halt right here. Let's see, let's just pull this back here for a second and it resumes from the hall and I'm looking at it and I'm like well, you've got 75 on the bid but right below 75 is 650 and then 628. If this goes the wrong way, it's going right back down to 628 before you know it.

And man, this feels like FOMO if I buy it here. So I don't buy it at 690 break 7 goes to 715 and it gets halted again. Yeah, so now I'm like starting to really feel FOMO and I'm like this is annoying. You know it's only a hundred thousand shares of volume I feel like I'm following my rules I'm following the rules I laid out for myself not to chase stocks and look, I'm sitting here on the sidelines while these two stocks are going crazy and I don't have shares to borrow either of them even at the centerpoint broker.

so I can't short either of them I can only trade them to the long side and here. Okay, let's go back to To Hunt so we miss that here. So where was that? So Hunt resumes sorry I Missed this here. Let's go back.

So hungry zooms and it resumes lower as you can see here and then it gets halted going down. So now boom it gets halted going down. As I said, this is where I want to add I would be adding right here if I could I would be adding here for the first halt going down. So if I could have no 200 shares maybe more I'd have you know probably between 200 and 500 shares short at around 64 dollars a share.

Alright first hop going down is what I was looking at. all right So CTRM you know is gonna resume from the halt and is gonna squeeze up and of course now I definitely can't buy its after the second halt the risk of there would just be too high and of course the volume is so light and here you go now it's hitting 858 and I'm just like feeling frustrated because you know following your rules and missing opportunities is annoying and so today's a day where I don't have any traits I didn't take any trades today because CTRM I followed my rules and did chase it and Hunt was out of my price range so you know it's like man, if I broke if today was the day to break rules right, look at what I would have done. maybe I mean some big opportunities. So anyway, CTRM ends up resuming from this halt, ends up squeezing up momentarily to a high of $10 and then reversing.

And so when this one reverses, it gets its first halt going down. And CTRM right now is. let's see. So Hunt is back at $39 and CTRM right now is back at 6.30 Seven cents.

It gave it all back. So you know you definitely don't want to chase these. And and to me, really, the best opportunity on these types of stocks when they start to take off is to wait for the first pullback. You know, we really didn't get clean pullbacks.

We certainly didn't get a clean pull back on CTRM And obviously we didn't get much of a pull back on Hunt. And so then you can say, well, if you don't get a clean back, then short the first you know, short the reversal. But that didn't give us an opportunity either. And now Hunt has resumed at $39 So my short from 64, we're down $25 per share.

So talk about, you know, a great reversal There, you know. Even with just you know, a hundred shares, that's that. Still would have been a really nice trade, but no shares available to borrow, so that's CTRM now coming down as well. So both of these just end up reversing and that that's pretty much that.

So and again. like. The thing that's definitely frustrating is when to be aggressive and when to be conservative. Today's a day we're certainly being a little more aggressive would have paid off.

however. um, you know there's sort of a combination of trade, the market you're in, not the market you want to be in. always be mindful of you know what the condition is of the overall market. and then there's also just the reality of what what place are you in right now because I'm personally in a place where you know I really took a good slap on the wrist last week on a couple of trades, just got really hammered and so you know I'm in a place where I can't afford to be aggressive I just want to try to.

really at this point, if anything, closed the month of March Green I'm down like 8,000 for the month of March from a high of being up twenty-four Twenty-five thousand. So you know I just want to try to turn things around and get back to Green on the month. and I'm not gonna do it swinging for the fences I'm not gonna do it chasing momentum I'm gonna do it taking good quality setups and sometimes you'll have stocks like this that will go from 36 all the way up to $70 without giving you a pullback. And so the only people that really make money on this type of move are people that are willing to be pretty aggressive.

But obviously there weren't a lot of them considering that even right now, it only has two hundred thousand shares of volume and CTRM right now only has five hundred thousand shares of volume, so neither of these are really attracting a lot of volume. I Think people are being a little bit more cautious after seeing some false breakouts and you know it is what it is. What would have been perfect is if this pulled up like this consolidated sideways held this level up here and then I would have been watching it around this time of day for a move back up to the high a bull flag, but it's retraced more than half the move so the pattern is broken. so you know that's kind of.

You know where where we're at right now, you know. Like I said, today's a day where it's 56 days a year. no trace for me, which is disappointing. Always look to be trading, but it's better to sit on the sidelines and to get myself into.

you know, a really bad trade. especially given where I'm at on the month right now. so you know I'll get a pat on the back. Following the rules, you know which is better than yesterday but the markets not rewarding me today for following the rules and that is the only thing that is I Suppose disappointed.

Sometimes a market rewards you for breaking the rules. Sometimes you feel punished for following the rules and you just have to have faith that over the long period of time over the long haul, following rules is the best way to be a successful trader. So that's it for me here and you know we're gonna have our workshop later tonight. so it's gonna be a long day for me in the office.

I've got a bunch of things I'm doing later or early this afternoon and everything. so I'm gonna switch gears, get some work done, and I'll see you guys this evening 7:00 p.m. for our workshop. All right! I'll see you guys all later if you're still watching.

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