Let’s talk about FinTwit.
It’s short for Financial Twitter and it refers to a layer of Twitter users who talk about stocks and finance-related topics.
The opinions are so strong and resolute — but they’re often unverified. I honestly feel a sense of despair for people who blindly follow FinTwit advice.
I feel like I’m the girl next door in a cheesy Hallmark movie. Traders who blindly follow FinTwit advice are the loser boyfriends who I keep trying to “fix.”
I keep trying to tell traders to think for themselves … But I guess the lure of hot stock picks is just too great. Please, heed my warning!
Here’s what I’m watching today…
Surprise, surprise … AMC Entertainment Holdings Inc. (NYSE: AMC) remains my top watch.
It broke some insane levels yesterday — it was an incredible trade. Congrats to all those who took positions.
Today, there’s potential dilution, and everyone’s losing it on FinTwit. I don’t care!
If this thing goes red to green, particularly in the afternoon, it’s still going to be a great setup. Stocks like this are just trading vehicles. I’ll keep looking for breaks. But if it dies, it dies.
A follower asked about Workhorse Group Inc. (NASDAQ: WKHS) over $13.50. This electric vehicle (EV) play has been featured in a lot of hit pieces recently, and it’s heavily shorted.
I like it, but I personally like it better over the $14 level, which is a break of last night’s highs.
WHKS did blow past that level at about 4 a.m. today, but I’m wary of such moves. They’re often caused by shorts who are all in with leverage. I explain why I don’t give much credence to super-early moves like this.
1847 Goedeker Inc. (NYSEAMERICAN: GOED) recently ran up big and then got diluted. I’m sorry, but it’s dead now. If you got bagged on the move the other day, it’s time to move on.
This is one of my top picks after AMC. Clover Health Investments Corp. (NASDAQ: CLOV) is a Chamath Palihapitiya SPAC (if you don’t know who he is, look him up). The Twitter geniuses are shorting it. I’ll be looking for VWAP reclaims or breaks of $12...
A follower asked if Sos Ltd. (NYSE: SOS) is “getting ready.” Nope! The only thing SOS is getting ready to do is to become an even bigger bag-holder stock...
Express, Inc. (NYSE: EXPR) is another WallStreetBets play that a lot of traders are watching. It’s moving with AMC, so I’d personally look for similar moves — a potential red-to-green, breaking the previous day’s highs, or new breaks.
I refuse to get excited about day-one moves on weed stocks like Tilray Inc. (NASDAQ: TLRY). Yes, it had a good move yesterday. But weed stocks have a history of being one-and-done machines. Maybe if it sticks around in the afternoon I’ll care...
I’ll close with yet another WallStreetBets play — BlackBerry Ltd. (NYSE: BB). I was watching it yesterday, and I still like it today. I’ll be looking for an afternoon VWAP hold, high-of-day pattern...
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
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By Stock Chat

where the coffee is hot and so is the chat

11 thoughts on “Pre market prep- stock market 06/03/2021”
  1. Avataaar/Circle Created with python_avatars Big Dogg says:

    Tim, your a beast man

  2. Avataaar/Circle Created with python_avatars Andy Cody says:

    300😎😎😎👍🏻

  3. Avataaar/Circle Created with python_avatars Mark Jordan says:

    Thanks for putting out Tim!

  4. Avataaar/Circle Created with python_avatars Dee Fetz says:

    Thank you Tim

  5. Avataaar/Circle Created with python_avatars Maybe Later says:

    Great educational video and thanks for sharing this with me.

  6. Avataaar/Circle Created with python_avatars Angelica Aguilar says:

    Congrats on your 300 PM prep! Always giving it all expecting nothing!!

  7. Avataaar/Circle Created with python_avatars William Swann says:

    happy 300!

  8. Avataaar/Circle Created with python_avatars ♡Loveio☆ says:

    Tim, nobody puts out like you.

  9. Avataaar/Circle Created with python_avatars Polski Gringo says:

    hello Tim, the most beautiful thing in your pre-market is that you will always say something more interesting, such as whether it goes up or down, a lot of learning from an experienced Tim, thanks a lot, even though I don't use STT so far, I do it myself, I already have a lot more thanks to you

  10. Avataaar/Circle Created with python_avatars ♡Loveio☆ says:

    Happy 300! Been watching since July. Thanks for being awesome!

  11. Avataaar/Circle Created with python_avatars Asif Ali says:

    love Tim, he is awesome, he gives soo much to this community, he have a very big heart

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