All right, so let's go over. today. Today for me was a no trade day in the big account. I did take some trades in my small account, but I'm not going to go over that in today's recap because these Recaps are really for my main account and my small account challenge.

I'm doing weekly updat so that's coming soon, so stay tuned for that. But yeah, so for the big account today, there were no trades. Let's look at the charts and I'll walk you through. Why? I didn't take any trades.

Okay, so my main issue today was that our leading gapper was 23% right? We didn't have any big leading gappers, you know, except for the leader which was agfy. It's a 1.49 million share float. Fantastic! It's got 47 million shares of volume which is crazy high. Relative volume is super high.

It does have news so like check, check, check, but the price action so the price action on it. So if I pull up the level two on it, um, let's see where is it here? So what you'll notice on the level two is that this is very thickly traded. When I say thickly traded I Mean it's congested, It's crowded, there's a lot of buyers, There's a lot of sellers. There's a lot of market makers.

There's a lot of Alos. It's just a tug-of-war, and when it gets this congested, they kind of stop moving. Now when you have something like GameStop Um, which is, you know, obviously a crazy event that happened. But that did have a lot of trading, but it was imbalanced heavily to the buy side.

There were a lot more buyers than there were Sellers and part of that was also because of the options on it. So a lot of people were buying calls and then that forced other traders who were selling calls to be secured by positions. so they had to buy. So it kind of created this, um, this spiraling effect with something like agfy.

We're seeing a lot of volume, but it's more balanced between buyers and sellers. so you could ask two questions. One, why are buyers not confident enough to be buying it more and then therefore tip the balance to the buy side? I Mean yes, it's up 73% Um, and then on the other hand, you know, why are um, sellers selling as much as they are? You know, why Are they so confident that it's not going to hold these levels so we can back this off here. I'll put this over here.

So if we look at the chart, uh, this morning, it pops up initially on fairly light volume and you know this often happens. It's kind of interesting, so it goes from, you know, yesterday 117 Right there it goes up to, well, a high of 250. Then it pulls back here down to this support area. So it basically goes from 11 16 up to $2 on, uh, 150,000 shares of volume.

So 150,000 shares of volume sent the stock up. A dollar a share just about. And so what is interesting is that clearly it would only take 100,000 shares of volume right to send it back down if there were no buyers on the bid. But it has held at least this $1 level even though a lot of volume has come in.

so it is holding a good portion of its gains. But what happened for me was we first have the spike, we have the move up, it pulls back, then it kind of does this rally back up. Um, you know I really did not expect it to Rally back up. and the reason is, um, number one.

We had tweezer top right here. so those two topping Tails right next to each other. Reversal indicator: very hard to reclaim those levels. False breakout right here.

false breakout right here. So when it came back up here I was like no way am I getting in and you know what? it went. It went higher than I expected and then it pulled back and then it came all the way back up to a new high of day. right came all the way up to 59 and I was like wow, you know again I Didn't expect that but that's impressive.

So then as the day goes on, we have this long period of consolidation. very thickly traded and what I really thought was going to happen based on these topping tailes back here was that it was going to break out and then flush down and the way this happens this pop and then rejection. When you have a burst of buying volume, you certainly had it on that candle. The market makers see those buy orders coming in and they pull their sell orders off the off the offer they they.

They take them away. So when there's a lot of volume and the stocks more or less going sideways, they fill it in with a lot of density. There's a lot of sell orders. There's a lot of buy orders.

it's very thick. but then when there's these bursts of buying volume or selling volume, they'll remove their orders. so they cancel their orders and they pull them out. and all of a sudden the stock can jump up 5 10, 15 cents.

And then what can happen is someone presses the sell button for a big chunk of shares. 50,000 shares, 100,000 shares. and then the market maker sees all those sell orders coming through and they clear the bids. They take away all their buy orders and it drops back down.

And so that's how we have those whipsaw moves. They're definitely um, it's a it's a I guess a I don't know I would say feature but it's uh, you know it's it's the result of the degree of algorithmic trading that we see in the market, especially on these crowded stocks. So anyways, this one surprisingly held and I was like, well, you know I could get in here, but I didn't feel like I would really have an edge I just didn't feel confident and since I had a red day yesterday, I was just like you know I I I I just think I should sit out. this is just the type of stock that usually I don't do super well on.

So anyways, if I' had a cushion on the week um or was green on the day already, maybe I would have taken that trade but I wasn't and I didn't So anyways it, it grinds up here to a high of 280. false breakout right here, flushes down here, comes back up, big drop right here and then you know, kind of bounces off vwap back up, back down, double tops here around 80 and then flushes down hard and is now back in this area. So you know it. Just that.

not a super clean chart. You know when you're looking at the one minute it's like where was the clean pattern? Do you see really any clean patterns on this? I see the wedge that broke out right here? but I think you had good reason to be cautious on it based on the price action from earlier in the day. there was a little one minute pullback right here, which wasn't bad. That was okay.

Um, but as I looked at that, I was like, well, but what about these two topping Tails here I think it's going to reject off 50 so I saw it and chose not to take it. So even the patterns that were there I saw them forming and I was like N I just don't trust it. So that was our leading gapper today and aside from that, we didn't really have anything else that was gapping up. So as the day went on, I started seeing a couple other stocks hitting the scanners like Jspr or um, there were a few others that hit the scans lighter volume sez I was like, you know what? this is what happened yesterday I got you know, sucked into Roma and then Dwac they weren't leading gappers, they weren't super obvious and I got smoked so I'm not going to do that again.

Um and then my computer did a blue screen and turned off and I was like, you know what? I'm going to take the message there that it's time just to shut it down. So anyways, loaded things back up to do this recap. but uh, but I'm not going to take any more trades I or any trades in my big account today I Just don't think it's worth it. so you know Yeah, I'm disappointed that yesterday I gave in into sort of that impatience I didn't maintain my discipline and as a result I took a good siiz loss.

So I'm I have to sit with that now. and today was a good opportunity to test discipline, be patient, and not take any trades because nothing was really a quality. We're in a cold cycle right now and I know, even if we're in a warm cycle, that, or even in a hot cycle, my profits typically do come from. um, a small handful of really, really strong days.

That's when I'm like crushing it and then everything else is kind of like Bas hit stuff. you know, small green days relatively, you know, small red days? whatever relative. it's all fine. So this month so far has just been a lot of small green days and then, uh, two, maybe small red days and then a bigger red day yesterday.

Okay, so anyways, I got to get myself. um, you know, just focused on hitting some nice little base hits and keep my head above water until the next hot cycle begins. Or until the next. Um, you know Big Move starts and I don't know when it's going to be? You never do.

So I show up every day and I'll give it a chance. But I'm not going to overstay my welcome because I can only maintain that discipline for so long each day before. I'm just going to get I'm I'm just concerned that I'll make a mistake. So yeah, so that's it for me.

Anyways, 10:30 here, wrapping it up, calling it a day, not a very strong day in the market, but uh, you know it is what it is and I'll be back at it first thing tomorrow morning. Reminders All always: Trading is risky. My results aren't typical and there's no guarantee you'll find success whether you trade with me or you learn on your own. So make sure you take it slow and I'll see you back here tomorrow morning.