What's going on everyone, it's been an exciting week with amc, coming back from the dead and going to the moon. Well, not quite to the moon just yet, but i'm hoping that this is just the beginning. I need to make a disclaimer that i am not holding any amc shares. I am not diamond handing the stock from 50 down to 30, but i am rooting for all of you guys out there who are holding the stock.

I have a lot of personal friends who are doing the same and i genuinely want to see the stock going higher. So if you take a look at the amc charts you can see from two days ago is when the big breakout started from 36 37 and the stock squeezed all the way to 48 near the end of the day. This is what we call a really strong, parabolic move and you can see on this day the second day. You know we had a small gap up, but wasn't anything major.

You know the prior day's close was 44 gapped. Up to around 47s, i tried to spy a couple times yesterday in the morning. You can see that god rejected the 48 and again midday on the secondary breakout on this day, the the first day, which is uh two days ago. I we did swing the stock overnight, so we longed the stock from 44.

and sold into the morning. Push we sold into 46 and 47, the best sale i had was 4730s for the overnight swing trade and doing these overnight swing trades on stocks i had a strong close and a breakout on the day-day chart is one of my bread and butter um strategies. When i was trading with a small account, this is how i built up a lot of my account we're doing this overnight. I didn't have pdt rule in canada, but if you are under pdt rule in the united states, this is one of the my favorite setups and it's one that i take still pretty often when i see them, especially with stocks like amc and also gamestop.

That are also offered the exact same setup when you're buying the stock overnight and selling into the morning. Push and stocks like amc, gamestop, even cause bb blackberry. All these wall street bed names are the ones that i have swung in the past before for either just overnight or multiple days. But in this case for amc, we sold our swin um yesterday um in the morning and for the day trades yesterday i was mostly focused on the long side really just buying the dips.

I keep on thinking that we're going to break out about the 48 and go to 50s and potentially even higher, but unfortunately we just didn't get that yesterday. You can see the double top right here around 48 dollars. I was long buying the dips all day yesterday and i was trying to hold on for the big breakout move to 50 dollars um. But at the end it didn't happen.

You can see setting this top here 48 and then just kind of slowly fade. It had a secondary breakout, move to 46 and just faded into the close. So yesterday i had a decent green day trading amc, but i was definitely hoping for a lot more and today, on thursday i traded the stock both on the long side and the short side once it failed to hold red to green. So the stock opened red right, you can see uh.

This is a gap down 44 prior days closed gap down to 41.42 um. I was thinking of uh that the stock could bounce around the forty dollars. You can see. That's the forty dollars breakout level um from two days ago.

So that's why i was watching that area waiting for the big bounce, but it didn't dip that low. It went to a low of 4180s and just started reversing so i did get in long 43. 40S. Not the best entry for the trading on the long side, so i did scale out some and sold some and sold all of it into this, and once it went red to green, that's a very strong psychological sentiment change my bad! So once i saw the stock broke out from going red to green, that's what i wanted to add back into my original lawn shares.

I added here 44, 30s and even added here on previous day's clothes but the stock. Unfortunately, around that time it's, the selling became very, very overwhelming if you were looking at um how it was trading. All these wicks around the prior days closed, which is this dotted line right here, 43.95 um there's a lot of selling. Yes, there were a lot of buying near the bottom.

You can see the candlestick wigs, but just the fact that it's not making higher higher highs and higher lows that was actually bearish short term intraday. So i sold my long for eight loss um. I usually am more comfortable longing amc, but i sold it for a loss because i bought up here around 44 40s and actually started flipping shorts, because if you think about a stock that went red to green, that's not holding green. That means there was not enough.

Actual buying volume and actual buying pressure for the stock to hold the psychological level and obviously um with a spy and with the overall market, there were some negative news and some a lot of panic and volatility so also sold off with the rest of the market. As well so i went short, you know started covering a little bit smaller, but i was waiting for the flushes to cover into so i covered all my shorts 43, 40s and 43 20s. This is the v. What flush i was looking for.

I was so out of the shorts thinking that we're going to curl and go back to test 44s, but once i see the slam down from 4350s down to 42s, i see that the stock is still weak. We actually have a gap to fill to the downside. Um, so that's why i reshored it here. 4290S added here on 43 20s got some very nice flush move to 42 80s and down here.

We shorted some here um covered and then covered into double bottom on the day would have been nice to get this 4160s, but seeing how fast it was bought up. That's where i got out oh my position on the short side. 4180S. I did go back and um try to retrade the stock couple more times here here.

On the short side, i even thought about getting long here, um, but just kind of taking a while um. You can see the long eventually worked out when the stock squeezed to 43 60s, but right now at least for now, we're not seeing a lot of follow through the stock is still technically red on the day right, it's be below on prior dates, close, which is Uh 43. 90S. Um.

You can see this this breakout to 43s and now it's back to 42.40. So i think today the stock is probably just gon na be stuck in a channel from the 42s at the bottom and 43 70s at the top. But i think tomorrow, friday it'll be very interesting to see what amc does i'm hoping that it does break out through at this point, it really needs to break out through 45 to get any major major breakouts, because if you look at a daily chart, we didn't Really go anywhere today. Today, we we opened around 40 to 60s and we're trading 42.50.

So we really didn't do anything today and the volume today in comparison to the last two days. It's not low, but it's not as significant as yesterday and on a big breakout day. So i'm not sure if we're gon na get more breakout move today or tomorrow's friday. Maybe next monday is where i'll be looking for more long opportunities.

I really do think that we might see more secondary breakouts. I really would prefer the stock going to 50 and 52s and higher, but at the moment i'm out of my amc, i'm sure i'm gon na get a lot of comments from people saying i should just buy and hold amc and don't day trade the stock. But you have to kind of think about it. From my point of view, i don't have the guts to hold 5000 shares of amc from 50 down to 30 dollars, then i'll be down what somebody doing math i'm trying to do a math right now.

Is it sorry, i'm not good at math? I need a calculator to do this 20 times. 5. 000. 100.

Grand. I don't, have the guts to risk losing 100 grand. So that's why i don't think i could do that. Maybe if i were just holding 200 shares or even 500 a thousand shares, i think i could do that, but this is way out of my risk.

Tolerance and like i've preached many times on this channel, everyone has their own risk tolerance, you should be trading or investing within your risk. Tolerance, so never take more risk than you are willing to lose. So that was my trade on amc. I lost money on the long side, but made profit on the short side.

The next stock i traded is majerna mrna on the short side. So i was watching the stock for a short seeing how volatile it was yesterday. You can see it went from 391's. All the way to 413s and sold off with some negative news in japan, i think and uh today, i'm just looking for more follow-through to the downside.

So when i see the stock pop to the 404s, i got in short thinking that you know if this doesn't work, i'm going to stop out and the stock is probably going to test the 410s, but it did pop from 3.95 all the way to 404 60s. What's the high i got in short here up here at 404, i covered some into the flush and re-added on the bounces for old two 80s that gave me an average about 403 50s and the stock just tanked to 496. 80S. That's why i got out all my short position and with the stock like madonna, it's very volatile um, like i've talked about in the past.

That's where this stock is where i took the biggest loss in 2021 on the long side, so got to be careful with it. It's very volatile um. But if you're on the right side, you don't need a big amount of share sizes to make your day just because it trades in these like two three four dollar ranges. So with this draw from 404 down to 496, this was my biggest win on the day.

Unfortunately, even bigger than amc, because amc i was trying to hold on for the for the bigger move but didn't happen. So i closed out my shorts here. I tried to get back in a couple of times here, thinking that, with a market volatility with market selling off um, qs and spy, we might see more downside, but it just didn't happen. So i got all of my shorts here.

I tried again here, but also didn't see, work working, so i just kind of got out for it. These are both scratch trades and this one was a small loss in which i gave back some profit, but overall madonna, i only traded on the short side and it was a green trade. The next stock i traded is a loss, and it's one that i'm not very proud about, because i kind of just let it go on for a little bit too long, because i was focused on all the other socks and watching. I took my eyes off the screen and the star just squeezed on me, so it's a stock tcat, so i was thinking to short the stock.

The locates were kind of expensive. So good thing i didn't have a lot of shares, but you can see. I showed it here thinking that the stock is gon na tank too nice or eight, and i took my eyes off it and to look at amc and moderna and the the second i turned back. This thing is up at 11 50., so i was down instantly.

Almost two dollars a share, so i'm not really proud about it. I thought about, should i add it here, i added and immediately covered thinking. Okay, i really shouldn't do this even on starter size, small position, this two dollar. This is like one point: five dollar one: a dollar and a half a dollar rip.

It still hurts, so that was not fun. This is a trade i'm not proud about, because i took my eyes off the screen from this one. Trade. The stock is pretty low float.

The volume is high, it's a small cap stock, so i should have been more cautious about it, knowing that a sock is squeezed. So i cut before i lost and i actually tried to flip long and i restored it into the halt. 11. Sorry.

1330S. That's why i got back in the short and then the stock just tanked a little bit, but i did make back some profits on both the long side and the short side. But overall this is still red um, just because of that big loss on the short side in the beginning from uh ten dollars, i even added 11 30s and i got out of it at 11 60.. So this stock was my loser on the day.

So don't do this, whether you are trading on the long side on the or the short side on these volatile lower float small cap stocks. You have to be watching it. You can don't do like me where i should - and i turned around to look at amc for a couple minutes turned around, seeing that i'm down a couple grand um starter position, so not fun. Besides that one trade on tcat, where i gave back some of my profits overall, a pretty straightforward day - it's been a good week so far, but i am hoping for more follow through with amc and the rest of the wall, street bad names, and hopefully we finally Get a big squeeze, i mean you know, people have been talking about the squeeze for months and i've been waiting for it for like the last two months waiting for it to happen because um, i definitely do better trading amc on the long side, whether you are Trading amc short term or holding on to amc stock, investing in it for the big squeeze um just make sure you're playing within your risk tolerance.

So you don't lose everything if your plan doesn't work out. Thank you guys for watching stay safe in the market, and i will see you guys next time. Hey guys thanks for watching. I hope you enjoyed the video and the bad jokes if you want to see more day trading content, make sure to subscribe and follow me on twitter and instagram for more.

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