What's up everyone? All right? So I'm going to give you guys a game plan for the week ahead and let's see if we can come up with a little bit of a watch list that we can work with. uh, for tomorrow morning. So get a little bit of a head start here. For those that weren't around last week and are just kind of sitting down and trying to get a gauge for, you know, what's what kind of market are we in? What's the strength of the market? What's happening? This episode should break it down for you.

So first of all, uh, we'll go through the continuation scans, look at some top gainers, some after hours movers from Friday. Let's start with a look at the overall market. The S P 500 that I think helps set the stage for just the general condition of the market that we're in right now. Obviously, we are still in, um, a Bear Market.

As you know this, we've been pretty much, uh, in a Bearish downtrend since uh, like, January, but for the last six weeks or so, we've been on a Bear Market rally. so it's something like a dead cat bounce. But uh, Bear market rallies can be, uh, pretty fierce and we have had a really nice bounce here. Now One of the things that a lot of um, economists and of course people that study, um, the the larger market trends and things like that.

most people are skeptical that this bounce will last. They think that you know this is a sort of a a strong Bear Market rally, but that we are not gonna. Most most people seem to think that we're more likely to retest the lows than to retest the highs this year. And the main issue there being that inflation is not going to reach the Fed's two percent goal.

There's no way that's going to happen by the end of this year, regardless of how much they increase interest rates, but they are going to continue to increase interest rates as they've indicated they will slow down at some point, as they've also indicated. But they need to start seeing inflation come back down. And so at this point, it seems pretty clear that the eight percent inflation is going to be around for uh, you know it may take a couple of years to get back down towards the two percent target. I mean, we're way way above that right now.

So in order to get us back down there, we've got quantitative tightening. We've got increasing the interest rates, and that is going to weigh on the market. I I imagine that we're going to see and we may even have a recession, and it would be one that's kind of manufactured in a way by the Fed increasing interest rates. But then I suppose the question on their side is what is worse? Um, sustained eight percent, ten percent or higher interest? Uh, sorry, Inflation or slowing down inflation, slowing down demand in the economy, and thus creating a recession.

The fact that we've still seen, uh, very good jobs numbers. You know people are still being hired. Um, that means they're going to have disposable income and they're going to be able to keep spending, which is not going to slow down a lot of demand. But you know.

So this is something that is happening in the larger market. Uh, it's something to be aware of to the extent that it really affects us. I generally find that I trade better when the market is bullish, and so, in the last, um, six weeks, For instance, I, I've been trading quite well. I have my metrics here for the month of August, which I've got so far 130 000 in total gain for the month of August with 69 accuracy.

And that means this is a great time for me to remind you that trading is risky. My results are not typical, and this is not by any means meant to make you think that you'll achieve a similar result. But I do think it's important that you know the person you're learning from is qualified. and I am.

This is all real money. So if we look at the calendar here, my month of August is looking pretty clean. This has been a pretty, uh, pretty nice, pretty nice month. We still have eight trading days left and hopefully I can finish strong.

Uh, so you know this is the last three weeks and of course the market. you know in the last three weeks has been, uh, pretty strong despite being lower of course than all-time highs. It's been on a nice rally, so I do seem to trade better during these rallies than I trade when we're in sort of a a leg down so to speak, and we have to be cautious because we may be coming into a leg down here. We tapped this descending resistance line on the S P.

Now we've got a red candle Friday. The 200 moving average right around this area. It is kind of flattening out, so if we can hold the 200 and we break over this descending resistance, then we're gonna sort of buck the trend of what maybe economists are thinking is gonna happen. But uh, you know that that's not impossible by any means.

So let's talk about so that's sort of macro big picture. Let's talk about, uh, the last week. So this month, uh, of August, the momentum for us really started with Pgy. As you probably recall, this was at the end of July, a recent ipo that started to squeeze up.

Put in this, you know, really impressive move. From about two dollars to thirty four dollars a share. Thirty five dollars a year. This was phenomenal.

This got the momentum started. And then we had the Hkd ipo That was just explosive. Absolutely crazy Wild. From a low of 12 to a high of two thousand.

Five hundred Fifty five dollars. And actually on Friday I went on my phone to check the price of Gct because I you know I was, I was. I wasn't trading it, but I was like i wonder I wonder what G where Gct is at and um so I've got my um so I've got my phone here and I pull it up and it says or the first thing I see is 2 30 bucks and I was like you have got to be kidding me This thing went to 2 30 bucks. Well Google was confused and was pulling up some I don't even know so it's a totally different symbol.

Um, I typed in Gct, but it pulled in something totally different. So anyways, fortunately I didn't miss a 2000 point squeeze. But um, you know, in any case, this was some crazy momentum early August, then that fed right into Meg L, another Chinese ipo. But this one, really, although it was, you know, did squeeze up to 250 or so.

It didn't hold and it came down hard. We had a nice trade on the bounce down here, but this was a big sell-off So then we had a couple of other ipos like Chg that was pretty nasty. We had, um, Reborn Coffee. This one was pretty nasty.

so you know yesterday when I knew that or so on Thursday when I knew that Gct was ipo and it was sort of like i don't know I mean yes, it's Chinese, it's but I just don't know. And on day one, it really didn't do much. But then on day two, it opened up quite a bit. I did a whole episode talking about Gct in quite a bit of detail.

So um, I'll put a link to that at the end of this episode. If you want to check that out, you can look at the trades and sort of how I trade it and everything else. So so Gct is interesting. Um, so going into tomorrow just to sort of skip over the all the trades and just sort of.

Is it worth putting on the watch list and I'd say the answer is yes, it is worth having on the watch list for tomorrow. It hit a high of about 60 a share. It had a bit of resistance there. It is obviously higher priced.

That means you're gonna have bigger spreads, bigger whips, Breakouts could be pretty tricky. Um, so that's something to be aware of. Um, probably there's some action on it around 4 a.m It seems based on the close like it's probably going to open a little lower. Maybe it tests this.

sort of, you know, Friday's V Wap 42. Maybe it flushes lower and then maybe you get kind of red to green. 4 A.m 4 30 kind of spike up to 55. Maybe even double top at 60 And that's very possible.

By the time most east coast traders are sitting down between seven and eight that it's already either pulled back way too much or is shown such a false breakout. We're not going to trust it, but you know we'll see what happens some of the levels from Friday. We may have some ascending support in here, so if we hold over that level pre-market tomorrow, then we could be watching it as it comes up for a breakthrough 60 and a move higher, but I'm just a little skeptical. I'm not sure that we're going to get the clean, um, moves on it.

Even Friday wasn't really all that clean. I mean, it moved, but it wasn't really that clean, especially for breakouts. So anyways, um, Gct is definitely on watch. It's a recent ipo.

Uh, the float is is pretty low, so I think it's worth keeping an eye on. Okay, so that's Gct. Um, I'm gonna pull up this continuation scanner here. so Meg L on the continuation scan obviously has made a really big move over the last two weeks.

The idea here would be a second kind of dead cat bounce setup. I think we already got the bounce if it got over 22 maybe, but right now I'm not interested in that one. um, Hkd another one. just to mention quickly.

I just don't think there's going to be enough volume and the spreads will be tight enough to take the risk on it, but you could end up seeing a Curl drug on the continuation scan. So unfortunately, while it has a big range, it's on the bottom side of the range. so I really don't like it right now. let's see.

Um, we've got black, uh sorry, Bed Bath and Beyond. This one, uh, I was gonna say blackberry but Bed Bath and beyond that pulled back too much. Not interested in it right now. A lot traders still talking about high levels of short interest.

And you know the fact is, Ryan Cohen sold his shares and it kept going up. It started going down when people found out that he was going to sell his shares. he'd already sold them. So it didn't go down in in a sense because he was selling like it wasn't because of his orders going through as he was selling, it was still going higher.

It was the uh, sort of mental aspect of he's out. uh oh, what does that mean? And then you know, traders bailed and so panic selling from retail traders and maybe some institutional traders going short is really what brought it down. It could certainly come back up. Uh, if retail traders go back into it, but I don't know that they will.

We could refer to Gamestop and some of the price action on it. You know. Initially, as you might recall, on Gamestop, there was, um, you know, some volatility here. let's see.

And of course we've got the reverse split. Um, which makes the charts a little harder to read, but you can see kind of in these areas. but but really nothing. Uh, to the extent of I mean there was this candle and then it kept going.

But but Bed Bath and Beyond the chart is is worse unfortunately. so you know that's from panic selling. All right. So that one's off the list Tgl at least for day trades Tgl, this still has potential.

I would want to see it over probably 896. nine dollars and then a retest of the high. It would be best if that was associated with some type of breaking news that would be ideal. Hlb Z is too cheap.

not interested in that Hkd or sorry I N K D I N K T a little on the cheap side under the 200 Bc A B to under the 200 year I lag. Yeah, so a couple of maybes, um, I lag back over 728's the spot. That's interesting. We're just too far away from that level right now.

Top another one that moved quite a bit. Pulled back to Bwv pulled back as well. So these are some of our biggest movers in the last couple weeks, but most of them aren't really positioned super well for continuation. Uh, Dnaa Big move.

On Friday this was a an after hours gainer so ended up being up 300 percent 338 percent. So you could see that this was a special acquisition company a Spac and they announced their merger. uh, the company that they're merging into And so we got this really big move. Unfortunately, since it's already up so much I I feel like I probably will have to just say I missed the move.

Uh, and I'm really just not sure if we're going to be able to get any more out of that if we. if you miss this, but we'll see it tomorrow, but probably pre-market you get a little pop early and then by the time we're sitting down it's probably not going to be a an easy stock to trade. and it's unlikely it would be at the top of the Gap scanner because it's not going to be gapping up. If it's gapping up 100, it's gonna be at 80 bucks.

Well, I guess. actually. sorry. the after hours closed was 14.

Um, so that's not true. So actually it is gonna. It will likely be at the top of the Gap scanner as long as it opens anywhere up here. but we'll be comparing that relative to the after hours highs from Friday, so we'll see that that's a maybe It's good though it's on the scanner because it will make it more obvious so that might actually help Dnaa.

Um, so that one's on watch Gct is on Watch. Let's see those two are definitely worth keeping an eye on for tomorrow and those are probably the two that look the best for continuation and then I think the next thing that we'll want to watch is to see of course tomorrow morning what our actual Gap scan looks like And hopefully you know we have some fresh news. So if we have some fresh news tomorrow then that could give us some great opportunities as well. By the way, those tuning in.

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So yeah, I think tomorrow I'm going to have Gct, Dnaa and then you know a couple of couple of possibilities. You're you know, Tlg Top. You know there's stocks I'll keep an eye on, but probably unless they have some breaking news, they're not going to give us a good setup and we're not going to have a good trade on it. So I think I'll probably, um, leave that alone.

We may also have. oh yeah, I see that, um, on the S P 500. It's also possible that we're gapping down tomorrow morning, so you know we'll see, um, we'll see how things look in the morning on the overall market because that'll have, uh, you know, some effect. Again, it's this rising tide that kind of lifts all ships when it's going up and that's a headwind.

When it's coming back down, it feels like we're positioned at least for a good re-test to the 200 moving average at 418. If it holds that level this week, then, okay, we're holding it. If we just blow right through it and we're back at 410, you know, then that's gonna that That may, uh, hold back momentum a little bit. so I'm not holding any long positions in my day trading account.

Obviously, I'm cash at the end of each day. I don't hold anything overnight, so that account is all cash going into tomorrow morning. I'm ready to trade. I've got about six hundred thousand dollars in that account.

uh, in the retirement account. so I can trade. You know, pretty aggressively. I could buy a hundred thousand shares of a six dollar stock I guess.

Um, I could buy 10 000 shares of a 60 stock. Um, you know, so I can. I can trade fairly aggressively if I see good opportunities, but I really haven't been trading that aggressively. Biggest positions.

Last week. I think I had 20 000 shares on a Vlcn or V yeah, Vlcn on Friday and that was it. Um, I don't know. Three dollars a share.

So it's a sixty thousand dollar position. That was probably the biggest position I had last last week. So not really trading with really, really big dollar size. Um, mostly because I haven't been quite confident enough.

And although I've had a couple of nice green days this month, I'm just kind of at the point where I'm trying to coast maintain accuracy. get in, get green, lock it up. So I'm definitely focusing on, you know, taking a couple scalp trades, couple breaks of half dollars, whole dollars trying to get green each day. Once I'm green trying to build the cushion, I'm not buying lottery ticket trades.

while I have an account that has enough in it that I could, you know, throw fifty thousand dollars on Bbby and hold it for three weeks I am. That's just not my mentality. when it comes to trading. I have a strategy.

I have a plan. I follow it every single day, and a lot of the trades that people have been getting really excited about unfortunately fall outside that strategy. You know, the the meme stocks and things like that. I I've probably left money on the table by not just buying and holding a bit, but it's um, it's just never been my strategy.

But again, um, you know. Having said that, the changes in the market um, with meme stocks are worth being aware of and Gamestop. and then of course all of the stocks in the last you know, year and a half that have gotten some social media interest like uh, Bed, Bath and Beyond. You know there have definitely been opportunities there, so it's um, probably worth watching to see what the next one will be.

Uh, but you know this is the type of volatility that that we're seeing. It's it's pretty extreme, so you just have to kind of be willing just to set it and forget it if you're taking that approach. All right. So I think we've got our game plan for tomorrow.

Gct is on watch, Dna is on watch. Both are higher priced. I'm hoping that we see some nice low price gappers hitting the scan. We'll be watching the overall market to see whether it's gapping up or down.

Given the position of the S P to the 200 moving average, we may come down a little bit. You could look at the Iwm as well. It's the Russell 2000 small cap index, so obviously already testing the 200, you know, But I I I look at the S P a little bit more closely. It's just a easier, better picture of the overall market.

So that's kind of what I'm going to be watching Monday morning. I want to try to keep the consistency going. I'm sitting right now at 130 000 on the month and I've been at 69 accuracy and the funny thing is they don't. They take the the extra digits out here, but I'm almost positive at 69.420.

I I I don't see how it could be anything other than that, so I feel like that's maybe a good omen for meme stocks and maybe we'll have something really exciting uh to help finish up, um, the month of August. but I guess we'll just we'll have to see. profit loss ratio has been good. 625 dollar winners, 546 dollar losers.

So again, none of this is like this isn't lottery ticket type of stuff. these are just, you know, small gains, small losers. But consistency is what creates that number right there. So I'm going to try to keep it going.

And it was a little choppy for me on Friday. Friday was, in fact my worst day of the month. Um, I went pretty deep in the red here before rallying back and managing to land smoothly just above, um, green. But it was not an easy day and I could have easily finished the day in the red.

So I am aware of that and I want to try to be a little bit more cautious tomorrow morning and try to build my cushion a little bit bigger. But from the episode yesterday where I talked about Chinese ipos, I also got into some detail kind of looking at where I might have gone wrong on the trade um, that I took on Friday where I went into the red. Realistically, Then the summary of it is that it was a good trade. It was, it was worth it, was worth taking a stab since I already had a cushion, but I took a little bit too much risk on it which didn't allow me to average down.

When it started to pull back, I was in just a little too heavy and um, I probably would have been better off waiting for confirmation which would have been getting into the breakout spot. but you know I. I just was a little a little eager to jump in it because I didn't want to miss the move. So I'm just gonna try slow it down a little bit on Monday morning.

I think you know if we sort of think about the you know the ultimate goal and if we look at, you know, even if we just look at, let's see, um you know the last five weeks of trading we could do a compare. Um, winners and losers from the last five weeks. So I'll just, well, whatever. We'll start with July 1st.

Okay, so start date July 1st. So we're going to compare all losers to all winners during the same period. And I think what you're going to see here is that the average losses and gains are pretty pretty. even.

They're about 11 cents a share right now. Um, you know, if we look at just August it might be. It might be a little higher because August has been a pretty good month. Uh yeah.

14 and 15 cent profit to loss ratio or in terms of cents per share. So average winners right now are 14 cents, you know? But I've had 340 trades that have been winners. Average losers are 15 cents. I've had 150 trades that have been losers.

So you know, at this point right now, 15 15 cents a day? That's that's kind of. That's the average in terms of, um, average winners. So if I can try to look for a couple trades that I think have the potential to give me 15 cents a share, I think that that's that's the approach. Obviously I, I'd probably rather look at the potential to make 30 and then even if I only make half of that, it's still 15 cents.

But um, 15 cents a day? You know that could be the difference between success and failure in this market, which is kind of crazy, but that's you know, 15 cents a day. So my goal, uh, next week, is just to try to maintain consistency. I'm not trying to hit any home runs, I'm not going to be buying lottery tickets or throwing hail Mary passes, just trying to be disciplined. First Trade of the day.

First couple trades are the most important. That's where I have the opportunity if I'm having a good day to build my cushion. Once I get a cushion, then I can start to work with that cushion to let you know. So for example, and I talked about this at the end of last week.

Basically my thought is that each day the the first goal is to try to get green. So that first trade where I'm zero on the day that that first trade has a lot of weight. Because if it's a green trade, then right away I'm starting to build a cushion. Uh, you know, financially in terms of profit.

but but also there's a bit of a um, just you know, psych, psychological benefit and boost of that consistency. It gives a little confidence. So first trade, if it can be green, even if it's only 20 cents a share, if I take 3 000 shares, I'll be up 600 bucks. Boom.

Okay, there's a 600 winner trade. Number two. I look for the next trade. I still try to take a good quality setup.

Maybe on the next one I take 4 000 shares. If I get another 15 cents, that's another 600 bucks. Now I'm up 1200. On the day.

now, I'm starting to build my cushion a little bit more. I see another setup that looks good. I jump in with four, maybe 5 000 shares. Maybe it's a loss.

I stop out for five cents loss. Something like that, I'm down 250. So if 600 down to 450, I'm at. you know, 450.

On the day next trade 4 000 shares, we end up getting something that really opens up nicely. It goes up 20 30 cents. Like Immediately, I adjust my stop to break even and add another 4 000 shares. Now I've got an 8 000 share position.

With a stop at break even, it goes up 30 cents and I lock up 2 400 bucks on that trade. Now I've gone to Up, you know, 2 800 or so on the day. Halfway to the daily goal of five grand starting to get in the groove, I see another couple trades, maybe a couple small stops, small losses. But if I get the one or two that start to open up, I can add to those winners.

Take my starter and then double the position. Maybe triple the position as it's going higher. And then with triple size with a stop at break even, I basically end up with a 12 000 share position and I'm risking um, in a sense nothing because my stop is break. Even right? That's the best case scenario.

It ends up going 40 cents and now I've got 5 000 of profit on that trade. So anyways, um, that's kind of the mentality as I'm starting the day just trying to get green on the first couple trades and then once I have a cushion, use that cushion as sort of my backstop to try to add to positions with stop it, break even knowing I've got a little cushion on the day. So that's the um, that's going to be the approach tomorrow morning. again those tuning in.

I hope that um, if you have any questions, you leave them. We do answer uh, all the comments that I see on the youtube channel so I go through and hit those uh, later in the day. So thank you guys for posting questions. Thank you guys for hitting the thumbs up! Tomorrow morning I'll be streaming for warrior members probably around 8 a.m I might start streaming a little earlier, but Monday morning I don't think it's necessary to sit down at, you know, 6 or 7 a.m I don't think it's necessary.

So beginning of the new week, the time to be most aggressive is between 8, 30 and about 10 a.m so that'll be the focus Tomorrow I'll be streaming on Youtube for the morning show starting around 9am and um, hopefully we have a good Gap scanner and or continuation from one of these two that are on watch. Hopefully the overall market is gapping up as well and we can have a good start to the week. but that's being a little optimistic because the market looks like it's positioned to gap down and the two continuation stocks are both higher priced. That makes a little riskier, so it's totally okay if it's a slow start to the week, just again focusing on those first couple trades getting green and getting out.

And you know, on that note, if I end up not seeing anything that I feel really confident that I'm going to get potentially 30 cents a profit, then I might not take any trades. And if all of a sudden it's 9 a.m and I haven't taken a trade 9, 15, 9, 30, 9, 45 Well, I'm probably not going to break the ice with my first trade at 10 a.m because my best days start strong and they start early pre-market with stocks that are on the Gap scanner and are moving higher So I have to keep that presence of mind of you know, is this day looking like the type of day that's going to be a good day? or is it looking like the type of day that you know? I could end up getting wrecked so I have to be very cautious? All right, so that's the game plan. Thank you guys for tuning in and I'll put a link to the two episodes here. Um, that I mentioned earlier the one yesterday uh that I recorded on the Chinese ipos Gct specifically and I'll put a link to the Bear Market Strategy episode that I posted right here.

Thank you guys for checking those out and if you want to check out the sales that we've got going on on, uh, Daytrade Dash, you can check those out or you could check out over at Warrior Trading. So 30 off monthly quarterly annual subscriptions on Daytrade Dash and 40 off your annual subscription at Warrior Trading. Okay, thanks for tuning in and we'll be back at it first thing tomorrow morning. You.