What's up everyone? All right? Well here we are: Friday morning and third day in a row. Profit on drug. So this stock over the last couple days went from a dollar 50 up to a high today of 416 and I got a couple of really nice trades on it. In fact, I've made so much money this week selling drug, someone better buy me a pager.

I'm killing it. Uh, and I'm quite pleased because you know, I had sort of low expectations for the week Friday last Friday I was deep in the Red 6000 before rallying back to finish Green Monday Solid day. Tuesday Went red on the first trade. had to scrape back, spent the whole morning digging myself out of the hole just to get barely over the line into the green.

Finished up 1500 or 2000 on Tuesday Wednesday morning. same thing First trade in the Red 2500. spent the rest of the morning digging myself out of the hole. Finished Wednesday morning up like a thousand yesterday.

Drug and another one I can't remember the name ssy I believe. Took trades on both of those. finished the morning up 2000. Okay, green Day, but not to the daily goal of 5 000.

in fact, I've only hit the daily goal twice this week on Monday and then again today, but today, drug starts to pull away at 285. I jumped on and rode that momentum all the way up to 416.. So a number of trades through that section. I'll break them down during the recap today, but I'm I'm pleased to finish the week in the Green.

And you know, each day I sit down I am feeling a little anxious because it's been a while since I had a red day and I feel like I'm due for a red day. Uh, three out of the last five days when I was looking at it yesterday, you know I had gone red before rallying back into the green. And you know you can't do that every time. I mean, you'll have days where you go red, you just go further red and then you're just at a big red day.

And so I'm feeling a little red day anxiety. Like I know a red day is coming and I'm Each day I sit down I'm like, oh, I don't know if I I got to be really careful and then once I see something pop up, I just jump right in. It's like, um, I just I know what to do. I see the setup, I jump in, and next thing you know all those anxieties and thoughts.

So I'm not even thinking about that. I'm just focusing on taking the trade. so I'm I'm grateful for that. Um, and you know it's certainly possible Monday or Tuesday.

Or at some point next week we could have a day where there's nothing that pops up and then therefore I I don't break the ice and I just don't end up taking any trades that day. But that of course, would be fine. and much better than forcing it on a low quality setup, so I have to take it a little bit slow. But finishing the week here in the green, we'll break it down during the recap and I'll come on live over the weekend to give you my game plan for the week ahead.

So make sure you tune in for that and I hope you guys enjoy the weekend and I'll see you here. Uh, when I tune in for the um, when I go Live for the Game Plan episode, it'll be on Sunday. All right, I'll see you then. All right.

So I'm going to do my recap here for today. So finishing the week in the green, so this is a another another solid day of trading. You know, not really any home runs today, but a couple of decent trades so you know that's good. Um, so we'll We'll go back to the very beginning.

The first trade of the day, it was actually in my main account. Now I found that a lot of times when I take my first trade of the main account, it's a red trade because the fact that I forgot to switch to my retirement account just sort of indicates that I'm like a little, I don't know, a little tired or whatever it is. But today that first trade on drug was a winner in the main account, which was nice. But I realized I was in the main account immediately because I have a lower max share size on that account than in my main account or in my retirement account.

So I tried to get in and immediately I was seeing Mac share size reached and I was like what's going on So that's how I realized I was in the wrong account. So my first trade on drug this morning? Um, I got in it pretty early, you know, Uh, someone in the in the room said drug coming too high a day and I saw the pre-market high there at 284 and as it broke that level I was like yup, i'm gonna take that trade I bought ten thousand shares. I had tried to buy twenty thousand. That's a pretty big position to start the day.

Having said that, this is a stock that is lower priced and has been fairly predictable this week. so that would have been a bigger trade had I filled the full 20. but I got 10 000 shares at 84. and I held that until about three.

Just just around three dollars. So we got to move up to three and then we gotta squeeze here up to 305.. So once I booked the first profit there, I switched to my main account and started trading it actively. I uh, we and we got.

So we first got this one minute micro pullback right here at 299 that gave us a move up to 305. Not super impressive, but when we broke 305, we pulled away to 320 and 325.. So that was where I booked my first 3 500 of profit in my, uh, retirement account. And just like that, you know, coming into 8 15, I was already sitting basically at the daily goal which was pretty good.

So why, why was I watching drug? Well, I sat down this morning, um, early enough. I looked at the Gap scan, I looked at the S P 500 and I saw the overall market was, uh, gapping a bit higher. Now we had, um, a Federal Reserve, uh, Chairman fed, uh, Jay Powell speaking at Um. 10 A.m this morning.

that sent the market down, then back up. now rolling over again. So we've got some economic stuff going on there, but this morning the overall market was moving. um, a little bit higher it was.

You know, kind of holding up there after yesterday's nice green candle. We're giving that back here today. but uh, in any case, so no, no, nothing super big going on in the market. uh, earlier pre-market It was just sort of holding up well, but our Gap scanner wasn't looking that great.

Mf, uh, Gp this one. Um, you know it's a buyout, so no trades on that for me. Bx Rx is a little too cheap at 68 cents drug, you can see it 27. but of course it wasn't at that when I first started trading it.

Fhs? No, nothing really there. So we had a lot of a lot of cheaper stocks on the scam this morning and just not very good setups. So when I saw drugs starting to squeeze because it closed strong yesterday strong green candle yesterday it held up. well.

I thought, okay, this is one that I should probably watch as it broke that 284 spot. That's where I went ahead and jumped in. So and then from that point forward, I was just actively trading it. basically.

Um, so Macd was nice and open here. We got, uh, we had a little bit of a triple top here at 325, but then we did break through it and we squeezed up to 345. 345 was the level that I had on watch for possible resistance because that was the high from this day. Back, where is it sorry, um, it was.

Let me just switch to this chart. 60 minute chart. All right. Um, it was back here, we had a high of 345.

So I was looking at that possible resistance and then if we got through that room to 475. So as we approached 3 45 this morning, I sort of expected there to be some resistance around that level. That was the case. and we pulled back off of 345 all the way back down to volume.

weighted average price and right here I actually punched the buy button for 20 000 shares right there. I only filled 3 500. kind of a bummer. We got a perfect bounce off of 20 off the V-wap back up here to 43.

So I stepped up to the plate, tried to buy the dip off V whap didn't fill my full position. It ended up going higher then at the open or going into the open. We break through the double top of 345 and that daily resistance and we rip to 350 364 micro pullback up to 370. I hold a position into the open and we get the squeeze up to 380 and up to 410 high of day 4 16.

so can't really complain about that. That was some clean action. Are we pulling back now? Yeah we are, but we had some clean action. I traded it well and I'm walking up.

Um, just about 12 000 on the day 1 300 in my main account, almost 11 000 in my retirement account. That's pretty good. I mean, I really, I can't complain at all. So Green Every day this week.

Today was the best day of the week. I hit my daily goal only two out of the three days. Yesterday was a smaller green day at about 2 200. Tuesday I went Red 1700 before finishing up 1500 or 2000.

Wednesday I went Red 2500 before finishing up about a thousand. So those days weren't super clean. But I did finish them green. So Green.

Five out of five days this week. Um, three out of the Five have been decent days and two out of the five, I hit my daily goal. So you know that's pretty good. And we've got three trading days left in the month of August.

This was our last full week here. It's in the books now and we've got Monday, Tuesday, Wednesday. and then we're into September. Next thing you know, the the month is over, summer is over, and we're coming into the fall And that's good for us as traders.

Because as we know, it is typically October, November, December when the market really picks up for small cap momentum traders. So I'm excited about Um, Q4 the end of the year. Obviously, what happens in the overall market is going to have an effect on sentiment, general sentiment. And today we are seeing the market selling off here.

and you know the issue here is. um, you know the Fed's position that they have to curb inflation and basically at any cost. I mean, that seems like what they're saying. So uh, there's a very, very good chance we're already in a technical recession because of two quarters of declining Gdp? Uh, but there's a very good chance that that's going to continue.

and the only way to curb inflation is to reduce demand. The way to reduce demand is to make it so it is simply not affordable for people to make these purchases. And that means people have to lose their jobs and or interest rates for high dollar purchases like houses or maybe cars are so high that people will just stop buying them. Demand goes down, therefore price comes back down.

But for things like you know, groceries and fuel and stuff like that, uh, you know those are going to take more time, uh, to for inflation to come back down. So unfortunately I think that, um, you know we we may. We're not out of the woods yet, that's for sure. Um, we had some nice data at the end of July.

I guess it was on inflation, but you know one month of data is not enough. Um, and the the comment was, you know, speaking to the fact that they need a sustained period of tightened economic monetary policy in order to curb inflation. And if they're if they don't stick with it, we're not gonna get back to two percent. So we're four times higher than the two percent target.

All right, so it's it's gonna take. It's gonna take a while. Uh, but in spite of that, um, of course, as we know, a lot of companies are continuing to have good profits, good earnings, and so you know the market while it's pulling back today and we'll probably pull back. Uh, maybe around this 400 spot off of this descending resistance that we ran into, I'm not sure that we're necessarily going to go all the way back down to 364, but we'll pull back a little bit and those pullbacks are healthy and the goal of the Federal Reserves try to maintain stable pricing, so it's that's their job.

That's what they're focusing on, and we may see some pain in both for businesses and individuals as tightening economic monetary policy increases the likelihood of decreased demand, therefore, layoffs, increasing unemployment, and things like that. So I'd say in a lot of ways, now is probably as good a time as any to be learning and developing skills to generate income whether it's in the market or it's side hustle stuff, because the more sources of income you have, the more diversified you are obviously. And um, that protects you. So I'll be trading.

I'll be continuing. Uh, as always, this has been an interesting year and I'm sure the rest of the year will continue to give us some opportunities so we'll keep trying to be aggressive and at the same time be consistent. And I've been maintaining that consistency quite well right now. So we're at the end of the week and I hope you guys did well.

But reminders always. trading is of course risky and my results aren't typical. so you do have to take it slow. but this is a good time to be practicing because there's a lot of volatility and that creates opportunity.

So I'll see you guys back here on Monday morning of course and over the weekend I'll jump on to give you a game plan for the week ahead where I'll look at some of the big movers from this past week the big winners, the big losers and see if I can start to create a watch list for Monday morning. All right, So that's it for me. I'll see you guys back here on Monday. 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.

Our goal is to hit 1 million subscribers this year, but we won't get there without your help. So please, please please hit that subscribe.