What's up everyone? All right? So here we are Tuesday morning. This is the 105th training day of 2018 and right now we're still in a little bit of a grind into Choppy Market. Fortunately, been able to be on the green side of it today up $799 so you know, a little bit of progress. but we're not seeing those big home runs and you know that's of course.

it's not about swinging for the fences, but it is about looking for stocks that have big potential because then even if you only capture a small amount of it, that's a lot of profit. So right now when the biggest potential is like a five percent move in a stock, well, capturing a small percentage of 5% is not a lot. And that's why today's a small green day. Seven hundred ninety nine dollars, A hundred bucks.

That's good. I'm happy with that, but this is a grinding market. It's the $500,000 a day market. I Just kind of have to.

you know, sit through and work through until we get to the other side and we see those big opportunities. Alright, so we'll break down all of today's trades. The two of them in today's midday market recap. All right, what's up everyone? So we're gonna break down trades from this morning.

Another pretty you know low stress day at trading. I Took two trades made 800 bucks and I'm happy with that. You know this is we're still in that market of you know I would say 500 $2,000 a day type of opportunities. We're not seeing the 5,000 10,000 dollar winners that we saw or that I was seeing in the beginning of May or the beginning of April but you know we're still only.

you know this is only the second week of June There's certainly time for the market to pick back up as we go, you know, into the third and fourth weeks. So right now you know I'm kind of grinding and the biggest challenge is I would say the emotional aspect which is being willing to just take these really small base hits because you just kind of get like antsy and then you at least I do I'm like okay I'm looking I'm waiting for the next stock to really take off to give me a really good opportunity for and it just keeps not happening. So that's obviously you know, not totally fun but at the same time the worst thing I could do right now is to be aggressive and then put myself into the hole so you guys can see where I'm at today. I'll just drag this up for you guys.

$799 Green is good. You know what if I had been aggressive today if I tried to swing for the fences I'd probably down 1,500 bucks 2,000 bucks easily and so I would take a $800 winner any day over a red day or you know anything like that. So yeah today's let's see it was right in my calendar the 105th day of the year up $799 So yesterday I was down 811 in the morning, did the midday recap in the afternoon I took a $400 got a $400 winner on CEO RV Basically, that was a setup looking for a retest of yes, the previous high a day planted. finishing yesterday down about 460 bucks up 800 today.

You know that's good I'm green on the week I'm happy with that, but it definitely is. We're definitely in a slow market. Last week was quite slow I made only $5,500 which for me is a very slow week. that week before I was read.

the week before that I was breakeven. So the last three weeks one two three and now we're in the fourth week of Choppy Markets. So you know it's just one of these things. We're paying our dues right now for the hot streak that will come when it'll be I'm not sure, but look in two days in the beginning of May I made $29,000 and then the second day me another $29,000 $58,000 in two days in November in two days I made $75,000 So right now this 799 is basically to me, it's like nothing I mean this is just a break-even day.

this is just a chop day. It's a day that I'm not read and so that's good. These little days. these are just you know, little profits until we see those big opportunities in January I made a hundred and sixteen thousand dollars in one month.

So this month, even if I end up making only ten thousand dollars, or even if I'm breakeven or whatever, that's okay. This is the period where you're treading water. So this is kind of like it's kind of like slack tide. You know you're you're not the tides not going out, it's not really going in.

you're just kind of there for a little bit waiting for momentum to pick back up. And then when it does, boom, we're gonna jump on it. And we're gonna jump on it quickly. So what do we do every single day? All right.

Well, the goal is to find a couple of stocks that we think have a high likelihood of making a big move. So every day starts the same way by breaking down our Gap scanners. The Gap scanners right here. This is the scan of the entire market showing us the stocks that are opening this morning 4% higher than they closed the previous day.

Now, stocks only open more than four percent higher if there's some type of news, because the standard deviation of the market is less than 4% The market doesn't move more than 4% on any given day typically, so anything beyond 4% is worth us taking a peek at. And so this morning, this scan of the entire market of 15,000 stocks returns a list of I. Don't know how many this is, but you know I'd say maybe 35 or 40 stocks bitter gapping up more than 4% So just like that, we narrow down the list to 40 stocks and I'm gonna go ahead and narrow it down even more to right now. we're just gonna narrow it down to the top 10.

So the top 10 is what I'm going to focus on right here. Alright, and the rest I'm not that interested in. Okay, so now let's start by looking at the leading gapper this stock GLM D is gapping up 250 percent. That's a huge gap.

2.3 million shares of volume 7 point 4 2 million share float. We pull up the chart. this was pre market. We see it squeezing up and we see that it has news.

All right, it's got phase 2. It's a pharmaceutical. Stock has got phase Two study results. They're really positive.

Alright, stock is squeezing up now on this one. I Said Okay, here's the problem for me: I Focus on stocks generally under ten dollars because that's the account growth price range, right? You guys know? I Took five hundred eighty three dollars and turned it into a hundred K in forty five days and I did it trading low priced stocks because those are the ones that move thirty forty percent a day potentially. And those are the types of stocks you need to be buying if you want to grow your account thirty or forty percent per day. Alright, so I was trading that price range so a stock like GLM D it's outside my price range now.

having said that, I maybe I wasn't still interested in potentially trading it, but I'm it agates a higher risk that comes with higher priced stocks by trading with smaller size. And so I was considering maybe five hundred to a thousand shares 1,500 shares tops. I was watching it possibly for continuation over the pre-market high. So the pre market high was twenty seven, Fifty Twenty seven, Fifty five.

and if it had broken over twenty seven Fifty five, that was the spot. I was interested. The bell rang and it sold off and it really hasn't looked back. So this didn't give me an opportunity to trade to the long side.

Now someone asked me yesterday or earlier this morning if why why I don't short stocks in general? why don't short very often I mostly trade to the long side for me I see the market very clearly to the long side and I don't see it as well to the short side. And in the past when I've tried to trade both long strategies and short strategies and and even change direction on one stock where I trade it long and then flip short and short it I can get myself very confused and the only thing more frustrating and losing money is losing money both long and short on the same stock. So to me it's kind of like if you're you know if you're driving in England and you're you know you're driving on. You know you're used to driving on the other side of the road, right? you drive on the other side of the road you used to.

But let's just say like at 10 a.m. you know every day you whatever you you have to you I don't know. you spent half the week in Paris And you drive on the regular side of the road and you keep going back and forth and back and forth and back and forth. At a certain point you're gonna be like wait a second, which side of the road am I supposed to drive on I am just confused, right? and so that's kind of what it is for me.

If I just go back and forth back and forth I get myself really confused I start to get confused with the direction with the bias and next thing you know you're making some mistakes. So there are some traders that do really well trading long and short. There are some people that can write with their left hand in their right hand, but most people are one or the other and I'm more of a long biased trader. Now Mike is more of a short biased trader which works really well in higher priced stocks I Suppose G LMG included.

So if you have a short bias, if that's how you see the market, you're in luck because you know we do teach that. But personally, I focus on trading in the long side now. sometimes I'll call out what I think is a good looking short setup or something like that and I simply can't trade it because I don't have the shares available to borrow these stocks you can see here. This shows me I have shares available.

The E for easy means I can borrow the shares because I gotta borrow them from my broker so easy locate means I can't find I'd have to call them and ask them I have to call them. ask them and then this one's easy. Alright, so you know generally though it is kind of like this that 50% of the stocks maybe you can find and the rest you can't and it might even be even less than that. So this morning GLM d it opens in a fades all right, so no trades on that.

It was off the watchlist. It was worth watching, but for me for my strategy, it didn't really play out. Next one down and a KD this one I was watching over the pre market highs. It has a float of nine point four six million shares.

Gap is up 50% volume is seven hundred twenty thousand shares so that's all good. pre market I Was a little bit unsure about it because they had started to sell off a bit right? It had this high of 245, it dropped down, popped up, it sold off, and then when the bell rang it went red. It did a quick little red to green attempt. It popped up but didn't hold that level at all and it got rejected pretty hard on this big red candle and then from there has been downhill so no trades on that and ultimately it didn't hit my trigger which again was the pre-market high so it didn't hit that level.

So I didn't get in. no trades often. All right, so that one's off. Well I was watching it the third one down FRS X and you'll see I trade this for $400 profit.

All right. So this is 16 million share flow gapping up 26% 25,000 shares of volume. We pull it up and we see that this one pre market had a pre market high of what is it right here 374 All right So I said guys even before the bell rang I said this is where I'm gonna be buying the stock I'm a buyer over 370 for the same as I said with Ma KD I'm a buyer on Na KD over 245 I'm a buyer on GL MD over $27 I'm a buyer on FRS X over 375 So I had my orders all ready to go and as soon as the bell rings I was just waiting to press that Buy button. so the bell rings and I have my orders on all of them ready.

So Ng, LMD or sorry FR sx I typed in I type. usually I type my order if I want to get into 375 which was the case here. I'll put my order a little higher in this case I think I put it at 381 and you can see I filled 7,500 shares at 380. so I'm in at 380 it pops up to a high of 390 and I see some hidden sellers at 390.

So I snuck under the ask of 390 and sold half at 389 and sometimes that works. In this case, it worked and then I hit the bid and sold the rest at 383 and 381 and 379. So a small win there right out of the gates. I'm a gap and go strategy set up entry break up pre market high called it out pre market.

this was where I was going to get in and that's where I got it made 9, made 400 bucks. all right, so pops up about nine cents, drops down, it then does a little one-minute micro pullback taps here a high of 397 and then does a pretty you know, sharp rejection and from there it's been downhill. So we are in a market right now. We're a lot of the stocks that we're seeing hitting these scam.

They're not continuing higher, they're not holding up very well now. I mentioned Co RV yesterday. this is the one that I traded in the morning. It squeezed up from 240 all the way up to 340.

That's a big move. I got in and made some money on it and then around lunchtime it's consolidating, consolidating and pops over the view. AB see that pop right there and then as its consolidating here I said okay guys I said it's in chat I'm a buyer over 324. If this breaks the high of that flat top, it's tapped at once.

twice, three times, four times I'm buyer had my order ready to go. It breaks and boom I get in, it pops up to 36. Alright, so it pops up eleven cents and I sell half and I think 35 or thirty-four and then I ended up selling the rest breakeven so is only a $400 winner but a winner nonetheless. 400 bucks on that one.

What I was hoping is that it would break through high a day and keep going. The reason I thought that might happen is because look at TP IV on Friday All right, very similar setup, consolidating in the afternoon. Boom, it breaks through and then it breaks the high a day which was nine dollars and squeezes all the way up to 11. That's a nice move and that's what I was hoping would happen with Cro V Co.

RV but it just didn't happen so ended up only being a small where. The important thing with my strategy is that even on stocks, we're on trades Where you look at it in hindsight and you're like, oh, that didn't work out very well. That for me is still a small winner because I take base hits now. sometimes I'll deviate from that strategy and I'll hold longer and whatever.

But I'm trying a lot, especially in this market to take those base hits. take that small gain when I have it and then adjust my stop to my entry point and if it comes back down and I have to get out breakeven I get out breakeven no big deal. Alright so anyways and then the second trade today was H-e-b T. This one hit the scans.

It was not on our watch list pre market but it hit our high of day momentum scanner. So the scanners searching the market at any given moment for stocks with strength and Boom Heb T hits at 2:11 for millionaire float. really high relative volume and volume increasing on the daily today's for today's date. So HG bTW I'm watching this one I see it pop up.

it taps a high of 252 49. it then pulls back and as it surges back up in this candle right there. that's where I got in. so on this one I said guys, if it breaks over the high of the previous candle, I'm definitely interested and I might add in anticipation of the break of the half dollar.

So I took a starter at 38, added at 44 and added at 55. So basically adding roughly everything every 10 s, every 7 or 8 cents. here on this thinking that if it broke over 65 here, that would be the spot. Sorry I didn't get in on this candle I got in on this candle right here.

Alright so I got in here as this star to surge up anticipating the break over 250, it hits 260 and then it sells off. So this is another one where this ended up being a false breakout. But because I was in early and because I took some profit right here I ended up making a little bit of money on it $395 So these are not home runs. these are small wins and right now we're in a market where I'm gonna be happy with small ones.

It's kind of the best that I can do. And if you know, like I said yesterday, if you can make some money during choppy markets like this, it really prepares you for when the market does pick back up. and these cycles that we see in the market, the hot cycles, the cold cycles their relative to what's happening with other stocks. because the market is really driven by the emotions of traders fear and and greed.

And so when you have a stock like I MTE last last month that goes from $2 to $40 in one day which is absolutely I Mean obviously we know this is these are crazy moves you know and that type of thing happens. It gets traders really excited and we haven't really even been seeing. We haven't even been seeing this. This is a stock from two $4 to $8 We haven't even seen that in this market.

We've barely seen like this where stock goes from 250 to 450. We barely are seeing that. So that gives you kind of perspective in a strong market. We see the first pop and then it goes into the second and then it goes into the third and then it goes into the fourth and then off it goes up to $40 Those are the days where I'm gonna be making 10, 15, 20, $30,000 days like today where you know the best stocks are, you know, just kind of popping up a little bit and then fading.

Just not gonna be able to make a lot of money here. can make some ANR bucks is good I'm happy you know. I'm fine with that, but this is just kind of grinding until things pick back up. So what some traders would do who are in my position of making you know well into the six figures trading they would just say you know I'm not even gonna bother trading on days like this I'm just gonna.

You know they're gonna do other things. Whatever you know, real estate businesses or whenever you know the other things they've got going on are this would just be a day where they'd say I'm not even gonna bother trading I'm looking at the gap scan or don't see much happening yesterday. Not much moved and so I'm just gonna leave it alone I'm not gonna be too aggressive for me, you know. I I Have obviously an obligation to you guys to be trading every single day and these are opportunities to learn because you know here's a little bit of profit and this will make you a better trader learning how to trade through these difficult conditions, you'll eventually get to a point where you might be making enough where you'll just say, you know what? I'm just gonna take the hint: not much is happening in the market I'm just gonna leave it alone I'll still be here in the trenches I'll still be trading every day, but you know, ultimately for me, you know, someday I retire or whatever I probably wouldn't trade during these market conditions I would just sit on the sidelines and wait for that next stock to really open up.

And so what I'd be doing is I'd be scanning for stocks that have squeezed up probably more than 50% intraday. and when I start seeing, you know, 5, 6, 7, 8, 9, 10 stocks doing that each day, that's I'm gonna start to get really excited. That's what's gonna get me off the bench and step up with big size. And even right now, I'm limiting my share size.

Under my warnings, here are trading: I'm limiting my share sizes seventy-five hundred shares Three weeks ago I was taking fifteen thousand shares of almost every trade I was taking. so I've cut my share size in half and it's because right now, this to me is not a market that deserves my fifteen thousand shares. I Just don't want to risk it I don't want to get myself into trouble I might even take some more money out of my account because I really don't need the 90,000 in here or the three hundred fifty thousand and buying power. The only thing with taking money out of my account is a stock like Co Co CP For instance, this is a three dollar stock.

If I drop this account down to forty thousand dollars, let's say I take out 50 grand. it's you know, down around 40 this one I would not be able to buy 15,000 shares off because 15,000 shares times 3 is 45 thousand dollars and it says 100 percent Which means I cannot use any of the buying power I can only use my cash balance so that would be a problem there. You know, a stock like Cone? Let's say cone is one of those stocks I saw hit the scanners I didn't trade it today because I didn't trust it but it's nine dollars. This is a stock in a strong market where I would consider taking 10,000 shares.

This one happens to be marginal, but if it wasn't marginal, I would only be able to take 5,000 shares right? If I take 50,000 out and I've only got 40k, won't you be able take 5,000 shares of the stock if it's on hundred percent and that for me is is really not enough? Bo Excel You know I wouldn't be able to take 10,000 shares of this so this is where for me. I kind of. the money is not really being put to use right now, but when the market does pick back up, then I'll amp up my share size. I'll start using more of my equity, more of my buying power.

and you know those are the days where I you know make 1520 thousand dollars in a single day, you know? I still have a goal of having a 100,000 dollar day I haven't had it yet I Was hoping that I would have it at some point this year. My best day right now is $40,000 and it's a great day. But you know $100,000 day would be pretty incredible. So you know if I'm gonna get $100,000 a day I didn't be taking 25,000 shares? I mean I really need to be taking some big sighs and getting like you know, three four dollars per share of multiple stocks right? So you know I need to be getting some I need to have big size and seeing really strong volatility we just have.

We haven't seen it right now but you know the next hot streak maybe we will. the IMT e hot streak we had IMT e we had VV p r VV PR squeezed from a dollar 45 up to $7 right? You know that's that's some pretty. That's some pretty big volatility. so you know that's something that I'm looking forward to.

It'll come back, but you know right now we just got to be content with the basics. All right. So that's about it for me today. A couple base hits 800 bucks, you know? obviously I'm about ninety nine thousand, two hundred dollars away from 100k a day today.

So today it's not gonna happen. We're just not in a hot market I can't be that aggressive. This is about basehead small gains here small gains there. it just kind of, you know, is enough to pay your bills.

keep you going until you get those home runs. Alright, so anyways, we'll be back at it first thing tomorrow morning 9:00 9:15 on YouTube live for our pre market analysis and we'll start trading at 9:30 Hopefully we'll see some good opportunities right off those Gap scanners. Alright so again, all of you guys watching on Facebook on YouTube I'd Love for you guys to put comments below. I Do come back I Read every single one of them and I reply to as many of them as I can.

So I'd love for you to give us some comments feedback How'd you trade today? What are you looking at? What do you like in the market? What makes you want to trade? Any questions you have about getting into the market, feel free to put them below and I'll come back later. All right everyone. I'll see you guys first thing tomorrow morning. If you're still watching, you must have really enjoyed that video.

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