What's up, everyone? All right? Well back in the saddle here. Monday morning. No Trade Monday. That's better than a Red Monday.

You've seen my kind of tendency these last few Mondays to jump in, excited to be back in the saddle on Monday morning and then take a big loss. So this morning we had a couple of Gappers, but nothing that to me looked quite right either. The price was too high, the price was too low, the flow was too high. It's just something wasn't right about everything I looked at and so I didn't take any trades pre-market I was waiting for some breaking news, but given that it's a holiday for a lot of businesses and banks and companies and stuff like that, we didn't get a lot of headlines so no breaking news.

It was really awesome. They gave a really nice like quick trade and then next thing you know the bell is ringing the Gap scanners. You know it just didn't have anything. I was watching for a Gap and go.

and then next thing you know it's coming up to 10 am. So no trade Monday. That's it for me. but I'll be back at it tomorrow morning and Tuesday.

Hopefully we have some better stocks on the Gap scan with uh, businesses being open and hopefully we see some good headlines and news posted. So generally that's what we need. We need some type of catalyst and typically it's news now in a really hot market. As we know, sometimes stocks can just start to creep higher with no news and then they just start to move higher because they're already up so much and that can just kind of, you know, be a technical breakout.

But that didn't seem likely today and so I, I didn't We didn't get it, but maybe tomorrow. I mean, who knows. if something starts to open up, even without news, that might be okay, but I always prefer new. So anyways, I'll be back at it tomorrow.

And as always, remember, trading is risky. Most beginner traders lose money, so you should assume that you would lose money. Do yourself a favor and don't trade money you can't afford to lose. And train the simulator before you put real money on the line.

All right, take it slow still early in the month. All right. I hope you guys enjoy this brief recap and I'll see you first thing tomorrow morning. All right.

So it's coming up towards 10 a.m and my general opinion is if I'm not, If I haven't even taken my first trade and it's coming up to 10 a.m I, I I shouldn't trade. so I'm gonna do my uh recap and then just let it be. You know, I came in here Monday morning first day after a week of vacation and it is Columbus Day. Um, so and it's Canadian.

Uh, there's a holiday Canadian holiday today as well, so we know that, uh, there's not probably going to be a ton of momentum today just because of the holiday. The the thing with the Holiday is that Pr firms and lawyers offices and things like that that are closed today would often be the people that are putting out the news. Therefore, there's going to be less news coming out today and we trade based on breaking news. So if we have less news because it's a holiday, even if the markets are open, it just may mean less momentum.

So our leading gap or today was Ptgx gapping up 87 percent pre-market I drew this yellow line right here and look how we just came up right to it on that break of view app. Now, I didn't take that break of the volume, weight, average price. What I kind of said to myself on this was, you know it's coming up to 10 a.m It's a 38 million share float stock price of 35 dollars a share. I feel like this is not the go-to stock for me.

It's not my favorite price or float combination. It's not my favorite daily chart. Although we do have gap fill, it's still not my favorite daily chart. It's a little late in the morning and this is going to be would be my first trade to sort of break the ice after taking a week off so I don't think that I want to break the ice on this stock.

Uh, so I I'm not. And that means today I'm coming in sitting down and I, as it turns out not taking any trades. not completely because there weren't any opportunities at all. but there wasn't anything that looked really, really good.

And one of my rules of thumb is, uh, you know if I haven't had a good trade pre-market by, you know, 9, 30 that then when the bell rings? uh, you know it's sort of the writing on the wall to not overstay my welcome. You know, look at that false breakout right there. that thing just ripped up. hit the high day scanners, broke to a high of 36.80 and then you know, look at that reversal right back down.

So that's just choppy stuff and I'm not interested in trading that that garbage, that's that's a quick recipe for a 10 a.m loss. All right. So um, it will happen from time to time that there will be no trade days. It's not very often for me.

it's uh, quite rare, you know. And it's also very rare for me to take any time off from trading. I really do like to trade, uh, pretty much every day. but uh, you know, if I just don't see anything that looks good, it is the the right decision just to stay on the sidelines.

So Ptgx was our leading gapper, second leading gapper Adms this is a buyout. The third leading gapper was Fl Xm. This is also a buyout, so we have two buyouts today. Trvi was a little on the cheap side so I didn't end up taking any uh trades on that.

It did squeeze up a little bit, but not that much. Naov. Also on the cheaper side at two dollars. Squeezed up a little bit but pulled back.

so uh, so nothing there for me. Uh, going further down, let's see. Yeah, that was pretty much it easy Fl. I saw some people mentioning that one, but I don't know.

I mean this. I don't even really know. triples the size of fuel delivery fleet By adding 33 trucks. Wait a second.

30. adding 33 trucks triples the size of the fleet. Um, Holy smokes. So you're telling me this had a fleet of 10 trucks? I don't know.

It doesn't sound that big, so I don't. I mean gas delivery? I mean, I, I don't know. I'm not sure if that's um, whatever. So yeah, no.

So no trades today and that's fine. Some days are like that. It's better to just be for me on a day like today. flat than Red.

always. it's better to be flat than Red. It's better to miss a couple trades that maybe went without me than to try to jump on things that look choppy on a day where we don't have really obvious momentum. Because those are the types of days where very easily I could jump into something like Ptgx with five or ten thousand shares and on a false breakout like what we just saw jump in at 36.50 be stopping at it 34.90 for a 10 15 000 loss and then you sit there thinking, man, why did I even bother taking the trade I knew the market wasn't that hot today.

You know we didn't have a good gap or why did I even bother You know this: Yeah, it's a one minute micro pullback. Okay, but we always have to kind of take trades and put them in context. What's the context of today's market And this is what's very difficult for a lot of beginner traders. And you know it's difficult.

even for me. having traded for as long as I have. I will see a setup like this, which is a totally decent one-minute micro pullback. It's a good one-minute micro pullback.

Yes, it's a little extended off the nine moving average, but they typically are because this is a one minute micro pullback after a big move. Why did it do this nasty false breakout? Well, what we're not reading here is from the chart. We don't know, just from the chart pattern that, wait a second. the float on this is a little higher 38 million shares.

Obviously, we know the price is a little higher. We can look at the level two. we can see that it's an easy to borrow stock, so those ones can be a little bit choppier until they start to really squeeze out really short sellers. which this isn't going to do until it breaks the pre-market high at the least.

and it probably has to go a bit higher than that to really get going. And so, uh, and just given the fact that we don't have anything really, really strong today, this pattern the same exact pattern on the same exact stock. On a day where we had some really hot momentum might work. It might give you some great great opportunities.

Today wasn't the day palt moving up a bit. Yeah, so that's a tricky one. I see it. Um, the halt level is 950 on it, so that's moving up a little bit.

Volume's fairly light. It's only up 10. I don't see news on it. You know that's going to be the one that goes you sort of.

just sometimes it feels that way. It's the one with no news. that doesn't even make sense. but I just can't break the ice on that one either.

Not yet. Your high back here is 10.57 The volume on it is a little on the light side. Uh, 600 000 shares? I mean, it's not bad, but it's a little light. So right now, where would your entry be right again? If this was happening pre-market and it was our leading gapper, well, I'd be concerned that our leading gap is up only 11.

But um, you know, if that were the case then that would be something that would be worth watching. But if that's not the case, it's not our leading gapper. It's not a leading gainer. It's only up 10.

Now you've got um, 890 on the bit. You've got a top and tail a doji here. So your high is Nine, Nine, nineteen, Nine twenty? uh. You've got this descending level from back here that I had drawn.

It's above that, which is fine. Yesterday's high was 9 30. it hasn't hit my high day momentum scanner, which is probably because the relative volume is low and relative volume. Um, these ones.

I mean, we're just seeing a lot of things pulling back right now. So all right. Well, that's okay. That's a Monday for you.

My Mondays haven't been that great in the last. Um, I don't know the last while. so I'm I'm content to not over trade on a Monday when I don't see anything looking that great. If this ends up working for you, that's great.

I see a 10 000 share seller there at 9 30. So you could see 928 by 9 30. but you've got that 10 000 share seller on the ask. Now it's hit the scanners right.

More volume had to come in. So right there popped up to a high of 30.. if it breaks through 30, what's the next level? 45.50 right? That's kind of what you would start to watch, but it's double top right now versus yesterday's high and again with no news. That's a bit of a risk factor.

So yeah, some of these are going to go without you, but it's better than getting in at 927 and then stopping out at nine dollars as it drops back down. So that's it for me and Ptgx. another wild one back up at 36.50 but not after I'm sure stopping out some traders on that nasty false breakout. Tricky stuff.

So trade smart, Try to manage your risk and remember that when the market's hot and we see things moving quickly, you're gonna know it. And if you're just sitting here wondering what's going on, well, you know. obviously the market's cold today, so just gotta wait for those hot Momentum stocks. It only takes a couple of them only a couple of them each month to give us some really nice trades.

Those are the ones to focus on, and those are the ones to try to catch. Even in 10, 15, 20 winners on. because they're going to be more generous, they're going to give bigger breakouts. They're going to be more predictable trying to catch.

you know, 5 10 winners on something like palt. Uh, you know you're not getting a whole lot in this area. I mean, could you gotten in at nine on a dip? Back up to 9? 20? 9? 25? Yeah, you could have, but could you take a trade over 9? 30? You could, but 9 40? you're just running into the fact that it's There's not a lot of momentum today and that's gonna be a problem. So anyways, that's it for me.

Uh, that's my no trade recap for Monday. I'll be back at it tomorrow, hopefully with some better stocks on the Gap scam. All right, I'll see you then. I hope you really enjoyed that video and make sure you hit the thumbs up and subscribe to the channel if you haven't already.

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