Before we start talking about my trades on amc, entertainment and the spce, i just want to let you guys know that i'll be part of the traders for a cause virtual event, this saturday, at 12, 30 p.m. Eastern time it is an online event and i'll be chatting live with alex from be the story. We're gon na be talking about trading. It's like a casual conversation.

I think we might also have time for some q a's, so it's free to attend. The link to register for the event is in the description below traders for a course is a non-profit organization and all the donations goes towards their select charities. If you want to learn more about the event and the charities check out the event page below, let me ask you something: are you curious at all what a bottomless pit looks like? Let me show you: oh there we go there, we go that's what it looks like just kidding. A bottomless pit looks like this chart on spce virgin galactic this stock gapped up overnight.

I think, like 20 percent, you can see from 17 all the way to 21 overnight from the news that they are launching a test flight later in march. Sorry, in may, what am i living in the past um? They were gon na launch a you know, a test flight later in may, and the stock gapped up to 21 having traded the stock many times in the past. Before i know it has a history of failed breakouts um i like to break out at the open um. You know squeeze for you know, maybe 20 minutes or so and sell off, and today you know it did get the breakout.

You can see this thing broke up from 20s, 60s to 21 and it just slammed back down didn't really continue any breakout at all on the daily uh. I was thinking they might push towards the 22s on the daily chart, but nope, i'm telling you this rocket ran out of fuel really really fast right after the open, pretty much um. You can see this thing after you know it failed breakout. You know broke down.

Uh pretty much lows: 20. 50S. I wanted the bounces to short into instead of chasing weakness. So, even though, yes, i did short it, i didn't never got full size on it.

Um and it was very difficult to build a position when the stock gave no bounces, because essentially, you are shorting the breakdown of weakness, which you know it worked out at the end. But i never got that comfortable to building a short position for this. So, even though you can see that i yes, i did short um into these like little little mini bounces. They they never.

You know bounced back to v wap, which is the 2050s and later on 2010 20. That would have been the ideal entry to add on the short side, so i only have very very small size, even though yes, i do keep on adding small, even down here after 20, 20s broke 1980s and 1986 and then covered into the small flushes and re-shorted. The bounces very, very small and here's where i got out of all of it, thinking that okay, maybe this is finally the reversal - it's gon na reverse uh, maybe try to test twenty dollars. Maybe we get a re-entry on the short side on twenties or twenty tens, but nope.

This is what i mean by it's: a bottomless pit to just just keep on failing, keep on going lower without giving much of a bounce at all, and that's how you know a stock is trading extremely heavy. I mean it's not really a huge surprise because, like i said spc virgin galactic, they have a history of doing so um, but like giving no bounce at all um, it's a it's a very difficult to trade. So you can see, after this short term bounce decent volume on this balance i covered all of it and i retest the prior highs around 1980s and it just failed um back to test 19, and now you know the low of the day is 1870s. So you know i definitely left a lot of money on the table, but at the same time i never got a big position on the short side and uh.

This is the the bottomless pit of the day. The next stock that we're gon na talk about is amc, entertainment. I traded this one on the long side um you can see on the chart this thing gapped down from previous day, close of 12 60s we gapped down to 12 dollars. I didn't trade this in at all.

It didn't no come on my radar until it started going red to green around. I guess around. 10. 30.

10. 40S. If you look at the daily um, if it, if it reclaims the previous day closed, then the stock is technically going red to green and knowing that ssr is triggered and the stock has a pretty high short interest. I was thinking that if it stays green, we might get a decent breakout move to the upside to at least 13 and potentially higher to 1330s, which was yesterday's highs, but we couldn't do that.

Sadly, um i longed here starter size around 1270s got stopped out once we broke down the red to green again, but once we i see this reclaim really quickly after this broke down and reclaimed that previously closed level um. That's why i added back to into my long position so execution-wise i was looking at this on the two-minute chart uh reclaimed. I got in i even added some more after this volume volume came in decent volume. Um, i was selling into the spikes thinking that we might get 13.

So, even though i did sell into the move 1290s and 1295s, i was holding a majority of the position trying to give it a chance to work, because if it, the stock is really going to squeeze with high volume, then there's a lot of upside. Like i said, there's a 1320s and 3030s potentially, but it just didn't didn't give us that move, unfortunately, and i'm just purely trading the price action, i'm not investing in the stock, i'm not swing trading, the stock, i'm just trading it. So once that momentum dies, we broke down the 1280s and i i just got stopped out of the rest of the position at 1270s and you can see the stock um tanked below previously close and went back to being read on the day. So the range on this hasn't been that great, it's not the same as um back in i guess, february and january.

When we had the whole wall street bets hype um it was. It was trading a lot of big range. I remember it was trading around 20 20 19 that range that was really decent, but today you know there was, i had some hope of it squeezing, but it just didn't happen and that's why it's important to yes, even though you have a long bias, you have To be able to recognize that for day trading wise, if the momentum dies down, if it's not holding some important support levels, then you know yes sell into the move but kind of protect the downside as well. So that was a small winner on amc.

The next one is also a pretty small um short scalp, pretty much um cpa switch. This is a stock that i've traded many times in the past before it's a lower float stock, but i remember it was pretty easy to borrow and if you look at the daily, this thing has been downtrending for a while um today, gapped out to 750s. I was thinking that they might, you know spike and you know pump some news. You know all these small cap news, it's more about the sentiment, less less about the actual um catalyst for these small caps.

That's just a reality! If the small cap sentiment was strong, even if there's no news or if the news is you know just just false or reused, the stocks could still run, but we're kind of in the cycle of sentiment in the summer right now, where the small caps, just not Not really seeing a lot of follow through so you know, that's that's why i was more short, biased on the stock. I didn't get a big position just because i was thinking that they might spike to eight um on a daily, as you can see, but uh. You know, after seeing a lot of selling coming at the open, i scaled in short, starter 720s and one scene that you know it's re-testing the pretty highs around 740. 750.

That's why scalding more short added under seven dollars, tens and then we got a nice break down to 680s 670s and that was all out around the 660s and then the stock later faded, basically all the way to where it came from um at 6 30.. So this is just a small scalp move for me, just just kind of like a small small winner in this kind of slower market. You you want to aim for small wins and that's high probability and that's a very clear setup. So if i don't know if you notice i'm taking less and less less trades every single day, um this week and last week during a small, slow market, it's very important to be very selective of your place and your setups um it's whether they are long or Short bias and i'm keeping the stops really tight as well.

So you know i'm taking less trades, um and uh, and i'm just trying to be kind of take the meat of the move and have the small winners add up. Instead of aiming for home runs before we go, please remember to register for the online event this saturday. My twitter chat is at 12 30 pm eastern time. Traders for a class is free to attend and all donations goes towards charities.

So again, the links are below for you to check them out. Thank you guys for watching. Hopefully i will see you guys live this saturday, hey guys thanks for watching. I hope you enjoyed the video and the bad jokes.

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