All right. Well, it's a little bit past 9. A.M here. I Was sort of hoping we might see another stock pop up with some news or something, but the leading gapper is Carvana.

This is a stock that is a 75 million share float priced at 57 a share. It's up 41 17 million shares of volume, but it's not a small cap. It's an easy to borrow stock. Uh, the problem with these.

but I mean the problem with this stock with any stock at this price range is that you end up with bigger spreads and you can get some big flushes and that creates more risk. So you know realistically, you wouldn't be able to trade this with a five or ten Cent stop. There's no way. Look at how fast that just dropped and then it's right back up, right? So you know that thing just went from 57.29 to 56 on the bids a dollar a share.

And there's no way really that you could have prevented losing a dollar a share on that. So unfortunately, this is one where at any time you're kind of risking 50 cents to a dollar a share. maybe even more. So how much do you have to make to justify that or that risk? You know you did a good risk reward.

So you need the potential to get two points. Getting two points is not easy. It's you know. Again, it's easier on a fifty dollar stock than on a two dollar stock.

but it's It's still not easy. So this is one that I sort of find that stocks like this can be very tempting. They lure you in and then you end up catching a big loss and then you're like either averaging down and trying to wait for it to come back up or you cut it and then it bounces back up. You're like oh my gosh, I should have just held it and then you get back in way too high and lose again.

It's just like once you break the ice and fall into it, it can just become a slippery slope. So that's been my experience. Um, trying to read the tape on it's going to be hard. You know, if you're willing to just Buy and Hold on a chart pattern and let it be a longer term trade, you know, then that's different.

But that's not the way I trade and I wouldn't tie up the amount of capital that I would have to tie up to do something like that. Okay, so Carvana is our leading gapper today. it is. You know, Therefore, the most obvious stock.

But I have my reasons for not wanting to trade it. So I'm not going to trade that one. All right. Well, then what do I do? I can look for the next most obvious stock.

Um, but I have to recognize that a lot of Traders may be focusing on this. Just because I don't like it doesn't mean other people don't like it. So other people may be trading it. And look at how fast that just went from 58 to 59 a dollar a share.

So people who got on the right side of it could be taking some profit up here and maybe even hit their daily goal on this stock so they may not be inclined to jump on other stocks to start popping up like SX TP or SRT. So when you have a leading gapper like this, um, that a lot of people are focusing on, it can hurt other opportunities. So something like Sxtp, you know this one. it's got several topping Tails it's pulling back if it was the leading Gap Or maybe it would be getting more attention.

but it's not the leading gapper. it's not getting the attention. SRT No volume on it. It's not getting a lot of attention either.

Pbla This one has had 40 50, 000 share sellers on the ask. Big sellers stacked up. can't really trust it unfortunately. Rvyl 32 million share float cheaper stock, no interest.

Vrm floats higher, no interest Cntg it's only up 13 so I have no interest. So this is a this is the type of day where you kind of end up saying well, Carvana is the the best of what's available. It doesn't really fit within My wheelhouse is what I would typically trade for two reasons: Number one is the price, Number two is the flow. Even if this was a 7 million share float or something like that, the price would still have me feeling a little bit cautious because um, you know I mean this, uh, these can can really create some Big Lots if you're not careful but then the sloping as high as it is, it's just easy to borrow.

just makes it worse. So at this point with 20 minutes to the opening bell I haven't taken any trades yet today and I I don't I don't know if I will I mean of course I'd love to I'd love to see something pop up but we've already gone through the bottom of the hour, top of the hour. You know, up until this past top of the hour at 9 00 a.m We haven't had any breaking news that really was incredible or gave us a great opportunity. So uh, well, maybe the best thing is to sit on our hands and be patient.

It's certainly better to be Break Even than to be read. and ultimately this type of Market It's all about preserving capital. I mean that preserving capital is important in any Market But one of the problems with being a base hit: Trader Hitting lots of base hits. Lots of base hits.

A lot of lots of Basics That's great, but one big loss can wipe out a dozen or more base hits and that can be really demoralizing. That's probably the biggest drawback with being a scalp Trader or being the type of Trader who takes lots of small base hits is that you get one big loss and it just you know could wipe out a month or two months of progress. On the other hand, if you start swinging for home runs, home run Traders usually have lower accuracy because a bunch of the stocks that were a small base hit, they didn't take the profit off the table because they're waiting for it to turn into a home run. It didn't and it stops them out.

So base hit Traders have higher accuracy. but usually the profit loss ratio suffers and it really it just comes down to having discipline to know when to sit on the sidelines if you're a base hit Trader with high accuracy. but you know that sometimes you catch bigger losses so you got to know when to just be patient, when just on the sidelines, and when to wait. so that for me feels like you know this is the time to be a little bit more patient.

even though if I was a home run Trader I still I would still be focusing on the same type of stock so Carvana still wouldn't be the type I would go for. but uh, but in any case, this just feels like um, a time to wait until something else um comes along right? So trade the market you're in, not the market you want to be in I Would love to hit a 10 20 000 winner today I'd love to do it again tomorrow I Would have loved to have done it yesterday, but that's not really the market that we're in right now. it was. We were seeing more of that last week, but this week it's cooled off a bit so we've got a little over 15 minutes to the opening.

bell. Scans are tough. We don't have anything that's up more than 50 percent, Carvana's up 44, and everything else is up less than 30 percent. so we don't.

You know this isn't a gap scan where we've got four or five stocks up 50 to 100 percent. Just have to be, uh, mindful, that's the market that we're in right now. Does over 60 have room to 100 on Carvana? You know. the thing is, I wouldn't expect that type of Potential from this type of stock.

Personally, if you look just at the technicals on it on the chart, you'd say oh yeah. okay. we've got resistance there at like 58 bucks. You know, 60 dollars if it gets above that, what's sort of the next pivot? What are the next levels? Um, you know you've got a little resistance right there.

68. you've got a little more up here at 82, a little more around 90, and then you've got up to 100.. Uh, again, if this was a stock with a 2 million share float and really good news I might be thinking yeah, we could skip over 65.70 and move real quick. we could halt up.

but this is a 75 plus million share flow. higher level of institutional ownership institutional Traders are going to take profits. that's going to create selling pressure. This is not the small cap.

um, you know, fireworks type of stock that I think that I would realistically put 7, 5, or 100 price Targets on for today. If it doesn't, you know that would really surprise me. So all right, Well, so that's Carvana. Um S P 500 We've got the overall.

Market Um I Mean this has been really quite incredible. Uh, first quarter second quarter. This is probably one of the strongest second quarters of market performance that we've had in a very long time. That was a really strong second quarter.

So and now going into Q3 we already have. you know we this is. this is very impressive. So you know, two months ago, three months ago, everyone was saying we're gonna go into a recession.

The Market's gonna retest the lows. Now look at how far we're We're just off the highs. We're I Mean this is crazy, but we are just off the highs of December 2021. So we're getting right into this range here.

We broke through this pivot that I had drawn at 52.69 452.69 So we're above that. And you know, yeah, are we due for a pullback? Sure, the Market's just gone up like 20. But in the meantime, uh, well, 50, not 10. Uh, But in the meantime, 20 off the lows.

In the meantime, things are strong. It's a rising tide that lifts. All Ships So I'm hoping that we see a little bit more follow-through in the small caps. It surprises me in a way that this week has been as slow as it's been.

but it's just the nature of being in between hot cycles and waiting for a stock that comes out with a good catalyst. So that's what we're waiting for right now. waiting for something with a good Catalyst Uh, waiting for something that can really start to open up. And yeah, that's that's my game plan.

So if I don't have any trades today, that's no problem. I'm gonna continue to be patient. and then when something is hot, I'll step up to the plate with that. But honestly, even if something is warm, I'll step up and you know, break the ice with a couple of Trades And if I can make 1500 bucks or without two thousand bucks, whatever it is, that's fine too.

But I don't even see anything right now that's worth trying to break the ice on. And like I said with Carvana, given that my stop is a dollar a share, that's not going to present me with the good risk reward ratio to justify trades. so I'm not going to break the ice on that one. I'm just going to look for something else and I'm hoping that we find it.

So that's the game plan. With about 12 minutes to the opening bell, there's really not much else to cover for today. I Don't see the likelihood of breaking news in the next 12 minutes, so that's my watch list. Uh I'm Gonna Keep Streaming for Warrior Pro members We'll see if we find something that opens up uh as we go into the regular trading hours 9, 30, 10, 30, 11 whatever.

And hopefully we do find some opportunities so we know what we're looking for. and if we don't see it then I won't be taking any trades, but by C7 it looks good. I'll be stepping up to the plate. So that's the game plan.

and thank you guys on YouTube for tuning in here for a shorter Morning Show but nothing really. um else to go over at the moment.