What's up everyone? All right. So welcome back from the long Labor Day weekend I Hope you guys really enjoyed it. Got a little rest and hopefully you guys did too. So here we are: First trading day of September One trade one winner $2,700 a profit.

A little bit more than the daily goal and that's a great way to start the new month. Now we look back at my calendar for the month of August my first day there's only forty seven dollars of profit and then the next day which was Friday August 2nd I didn't take any trades because nothing looked good I didn't trade again. well Monday the fifth and then we had the 6:00 a red day, seventh, the red day, in the eighth, the red day. So it was a terrible start to the month.

So just starting here, the Green Day starts to build a little bit of a cushion and you know it's not a big cushion. I Still got to be careful tomorrow And also be mindful that today we didn't see the level of follow-through I was like during the recap. We'll talk about ELT K which I traded this morning and then during the recap squeezed up and got halted on a circuit breaker at $7 It then resumed below at 660 and ended up painting. but we were watching it lives and we kind of broke it down.

So enjoy that During the recap and as always questions, comments, leave them below and today we have extended our Labor Day sales. They expired at midnight. We've pushed that back to midnight tonight, so jump over the website, use the coupon code Labor Day to save 30% storewide at Warrior Training Alright, see you guys in the chat room. All right everyone.

So I'm gonna finish the first trading day of September up two thousand, seven hundred, seventy nine dollars, and seventy eight dollars and ninety nine cents. So not a bad start to the month, one trade, one winter, and just a little over the two thousand dollar daily goal. Today is the one hundred and sixty fifth Trading Day of 2019, so we are, well, certainly coming to the last. Well, last push the last four months and I hope that we see some really good opportunities.

Here is we close up 2019, especially in November in December But starting the first day of the month with the green trade is always nice. It doesn't always happen and I'm sure some of you guys who trade today whether it's real money or in the Sim may not be in the green and I started August in the red. so I certainly know you know both sides of the coin. I've been in both places and I think for me today I Set a little bit of a different goal so let's kind of go through how today unfolded alright and I hope you guys all enjoyed the weekend and got some rest.

And those of you guys who took us up on our Labor Day sales I'm glad that you did that. I'm gonna pause this here or mute it at least I'll just go like that. Alright, so leading gapper this morning was CDT X Now this one I really wasn't particularly interested in. It's a stock that I have traded in the past quite a while ago.

At this point, it really hasn't been a very interesting stock in quite a while. So with it gapping up today 70% you know I was impressed. That's a huge Gap. that's a really big move and yet I didn't really think I had a lot more in it.

So we had the high here of 318 pre market. By the time the Bell is about to ring had broken below three below the V web, the volume weighted average and then it curled back up and so we opened today at $3 It immediately surged up a hit a high of about 308, dip down, surged back up to 309, dipped down, came back up to 305 and then sold off from there I Didn't take any trades on it, so this stock it meets my criteria for price, certainly meets the criteria for Gap. It clearly has news. however, the floats 25 million shares and I typically focus on under 10 because those are stocks that are more volatile during trading hours and the volume was already 2 point 1 5 million shares which is a little high I Like to see above average volume, but when you get to a place where you're above a million shares pre market and you have a 25 million share float I Usually look at those types of stocks as having a lot of tension.

a bit of a tug of war and it's more difficult to see really big breakout so it's kind of harder to get nice 20 30 cent moves on these types of stocks. So you know in terms of weighting the criteria of an A quality setup. I Would definitely wait float as one of the highest because you know even if you have everything else that matches up even the volume, the float can just be a deal breaker. So that was off the list a B yo for me I Wasn't interested in it now.

It did end up making a nice move from 2 dollars up to about 278. Nice clean pull backs. It's a stock that's been beaten up for a while. As you can see, it did have a catalyst today of news and you know this one.

This one did end up working out a little bit better than I suppose I expected. but I left it alone. with the flow being on the higher side. A RDX floats too high This one price is a little high, volumes a little low.

this one volumes too low. It doesn't have a float, this one's too expensive. This one's a little too expensive so you can see as we're going down the list. The first one here that you know you might look at would be Uso.

D However, this is United States short oil fund so I'm not gonna trade that. So basically there was nothing on the list for a Gap and Go trade. So we talked about the Gap and Go strategy as part of the Warrior Pro courses. It's a strategy of looking for the leading gapper and trying to ride that momentum.

but I have to be very specific about which trade, which stocks I'm willing to apply that strategy to and which ones I'm just gonna sit on the sidelines and these were all ones that I was not interested in. Alright so the bell rings and we come in pretty much with the mindset of watching the high Dave mentum scanner. Now I will say that ELT K was the first stock I looked at this morning because it was the last stock I was looking at on Friday on Friday it made this move from four fifty up to five five fifty six six fifty all the way up to a high of 720 and I kept seeing at hitting a scanner Friday afternoon and I was I was impressed I was feeling a little FOMO and I was just like wow man this thing is really taking off so and it is a former runner a stock that I traded in the past. so to see that move on Friday was was impressive.

So it was the first one I was watching or was the first one that I looked at earlier this morning. but that was it. like I don't know, maybe 8:45 or 9 o'clock and so by the time I was doing my watchlist I'd kind of forgotten about it I wasn't really thinking about it I think I might have had it up on my level 2 from Friday. So I I might have had it up here at one point so you know it's kind of like interested but sort of looked away and was focusing on other things.

The bell rings and this ends up squeezing up right here. The highlight of the day was 23. It squeezes up, it hits the scanner, oops, sorry let's zoom when we use the scanner. so hits the scanner at 25 and then fifty seven, sixty nine, sixty nine, seventy five.

So it's boom boom boom hitting the scanner as soon as it hit the scanner right here. I I was like woah Ltk Yes, this was the stock that I was looking at earlier. it's doing it Someone even mentioned in the chat room hey, check it out for red to green move. So I think I pulled it up just before it did the red to green move and shift one shift One shift one shift one I'm pressing my hotkey to by now Z bzzt This is the Nasdaq test stock so this is what happens when I press shift 1.

Boom Just like that. Just like that. Just like that. just like that.

I'm in 12,000 shares and that's why I did on the Ltk Boom Boom Boom boom in 12 thousand shares adding as it's squeezing up so I take my starter and then I'm adding adding adding hits a high of 85. Now on this one I was thinking this is the first stock that's hitting a scanner today. it looks good. So I was thinking this thing might rip up to 7 and then if we can break 720 we're breaking the highs from Friday So I was starting to get a little excited.

This might be a really nice trade. It rips up here, hits a high of 85, it then pulls back right here. It then drops down to 25 which is not good. It bounces back up to 62 and I'm selling through here on this bounce.

I'm hopeful that I can hold my last position for a one-minute micro pullback and a retest of the high and I would have been ok with adding if it had done that. but then as it broke here, the low of let's say actually know that it dropped down to 13. I was still holding about 700 shares through the bottom this pullback and then I finally sold the rest of it right here. So I was really disappointed that what could have been an awesome trade, a breakthrough $7.00 and potentially a $0.50 plus winner on 12 thousand shares ended up only being about 20 cents.

So I'll sell this ZB z ZT test stock so all out now and that is a test stock so it's not going to contribute to my daily gains which is or loss which is good. Well yeah overall disappointing that this didn't work out super well. So then the next trade be Lrx. it hits the scanner and I just I was like mm I don't know because ELT K kind of failed and now this one so it hits the scanner at 325 340 and if I had jumped in it right away well it did end up hitting a high of 64 so a 35 cent breakout.

It's not bad at all but this this did not hold that level. It then comes back down and as you can see now it's back down at 2:30 So a big rejection there and I think so at that point I was like now that's 2 ELT K rejecting Blr X rejecting I better step back here and then when I saw a beo going a little higher I just thought now I don't know I better not better not risk it I'm just gonna leave it alone and I don't think anything else hit the scanners any te and OS n I guess hit for a second OS n did a little red to green move but it didn't hasn't sustained very well. Any te is a little bit of a daily set up over 520, but that one's also not looking particularly impressive. and this AR DX is a higher float stock.

55 million shares I'm not really sure I wasn't really watching this one so that one looks like it just all of a sudden kind of ripped here from four up to 460 which is a nice break out. but I think I'll just leave it alone. So one trade today, one winner and I'm just gonna leave it at that and live trade another day. Be back at it tomorrow I Hope that we see a little bit more follow-through but also you know we'll be ok with taking a little bit slow.

Someone asked me earlier in the room and you know how I gave when I on a trade like Ltk, we'll go ahead and take my profit versus hold the whole thing for that big move up to seven and for me I didn't feel comfortable I Now Ltk I took a pretty big position. If I had only taken maybe three thousand shares or six thousand or maybe even nine thousand I might have held a little longer because I thought would have thought well you know I'll give it a chance because I went with bigger size I felt like I needed to reduce the risk a little faster because there's more risk with bigger positions so that might have been part of it there. But a bigger part was the fact that at the beginning of the month I don't have a cushion on the month I'm at zero and even though you know I could certainly say well, I've already done really great on the year for the rest of the year I'm only going to swing four home runs so you know I'll probably get a few and they'll end up being twenty-five thirty-five thousand dollar winners. And they'll be trades like this that end up being either breakeven or small losses because I Just you know, I just throw in the towel or whatever or you know I just let it stop me out flat rather than take the profit.

But I really trade on a week-to-week month-to-month basis. I'm looking at my my P&L each day each month and it feels like you know we're at the beginning of a new month. So I'm starting over from scratch and I'm gonna focus on just trying to be green here for the month of September So that I think is the way most beginner traders trade as well. It's just sort of this focus on month to month paying bills.

It doesn't know you might be up on the on the year, but it doesn't change the fact that you've got bills you've got to pay this month and so you've got to continue to be consistent. Man, this thing. Look at that. That's funny.

So you've got a high of 685. So what we're going to kind of have here is a potential double top. At 685. this is a cup shape and what we typically would look for would be a handle.

A handle will take the form of a bull flag underneath high of day. If I bought right here at 85, you know my stop is like back down here at six, that's too far away. I can't really set my stop that far away, you know? I it just wouldn't make sense for a risk/reward perspective. Now in this case, you may have traders that get squeezed out here who were holding it short and now it's back on the hide.

A momentum scanners you see right there. it just hit new high but only by one cent and buying up here I Really think the only people that would press the Buy button would be a short seller covering. I'm not sure that you would really have a lot of people going into this as a fresh trade from the long side because the risk is so high now. Having said that, it's at 7:08 up 10% and now looks like it's going to be halted.

So what a rebound from a bounce off the 200 moving average. Now back at the highs again to manage risk on a trade like this: I don't really know I think there's two ways that I would consider trading this. You've got the pre market higher after-hours high yesterday Friday of 720. So generally I would probably say coming out of the halt I would look for an opportunity.

Generally, that's what I would look at. Now in this case we're we went from six all the way up to 708 so it's gone up so high. but let's say it resumes at 750. I've let it dip down for a second and then as it surges up and breaks through 750 right here.

that's where I would be adding. So I probably prep an order here at 750 and let's just say maybe like you know, 1,500 shares or something like that if it opened lower, halted at 708. if it opens at 690, that by itself is a sign of weakness I probably wouldn't in this case add over 708. I would let the flag out a little bit and do a clean one minute pull back and then perhaps look for the first one minute candle to make a new high I trade these a little bit different at this time of day as well because we're a little further away from the open.

you know I mean in the first 30 minutes the first hour. this is where I typically expect to see the most volatility and the biggest resolution on solid bull flags and flat top breakouts. This time of day you can see more false breakout. so I do have to be a little bit more careful.

Take it. Just a glance at BLR accents, you know no sympathy there. Sometimes when one bounces, another one will. But no, that's not the case.

So Ltk, let's just war. So why don't we watch this coming out of the hall? So let's see. The high was 708. All right.

So look at our daily chart. So daily levels I Just want to break these down below. Here was 7:15 that was on May 31st. So 7:15 is a little bit of a daily resistance point and then it's got room up to 11 12 so a lot of room there.

The halt time was at 10:37 and 56 seconds. so resumption should be 1042 and 56 seconds. And I expect it would probably be a 5-minute long halt, but it could be 10 minutes. But I would probably expect this one to be a 5-minute long haul.

Ten-minute long haul. It's usually open a lot higher, and although this had a good amount of volume in these last kind of two minutes coming up here, it kind of was declining going into the hall. So usually if it's increasing going into the hall, you might see a 10-minute long haul and you might see it open significantly higher. But in this case, I'm not sure that's that is gonna happen.

So we'll watch the ten-second chart on resumption. The 5-minute chart. The daily chart is not super relevant I'm not going to look at that too closely, you will see what this does. so we're about minute away from resumption or so so you can see the H that it's been halted.

And those of you guys not familiar with circuit breaker halts, we talked about this extensively as part of the Warrior Starter class and the Warrior Pro classes. Again, risk on this type of stock is that this thing was just at five sixty. so bounce from five sixty all the way back up to 708 and in this one candle, it squeezed almost a dollar per share. When you start getting into the six $7 $8 $10 price range: 10% Circuit Breaker halts a halt every 10% is 70 cents in less than five minutes.

So you know they start to be bigger moves to buy into halts. you know the risk is for that reason gonna be higher. This is on short sale restriction. You can see right here so it means you can only short on an uptick so you may see people sitting on the ask as a short seller.

My strategy on this: if I consider a trade would be a smaller share size because I'm not going to take twelve thousand shares of this after I've already locked up. A pretty good day of profit I would consider. you know, maybe a lower risk trade with fifteen hundred shares are doubling to three thousand. Resumption should be any second here.

So I've got my order at 750 so we open below. Alright, see when you open low like that. Mm-hm that's not good. You don't like to see that.

So we opened at 660. So now this five minute charts all kind of messed up. Now you know this could form and you can see here over seven away. It's kind of like a pullback, but I I it's an instant sign of weakness when it opens lower.

And so right now, through this period of consolidation, this five minute candle still has 90 seconds left on it up until 9:45 or 10:45 So the high of this current 5 minute candle is Six Ninety Five. So I've now put my order down at seven for a possible break of 695. The high of this level right here is 95. That's where I would consider so and that's the place where you know it could have punched the order.

you know. Kind of got a quick break, but I'm I don't feel the risk/reward is quite there. I Think it for me. if this had closed, the high of this five-minute Campbell had closed at Six Ninety five, then the first five-minute candle to make a new high I'd be okay with trading.

So now the high: This candle is 708. So we've got a double top at 708 so I can move my order up to 710. So I'm ready to go for break up 708. The lobe: This pullback was 660 so we do not want to see it break that level.

That would be a real sign of weakness. This five-minute candle still has 20 seconds left on it, but now it's looking like a shooting star. So you know this is looking worse and worse. And this is what sometimes happens.

You know when you see these kind of breakouts. It sort of a the end of the morning trading session that they don't end up holding as well. So I you know it was. That was an interesting one to watch Possibility that might have grabbed an extra a couple hundred dollars of profit but didn't give me the entry indicator to pull the trigger.

So no, no trades. Alright, so that's it for me. I'll see you guys first thing tomorrow morning. Hopefully we see some good opportunities and we can have another another green day right now technically is the 13th consecutive day of hot morning momentum.

I Do have one red day in there from giving back profit in the afternoon. so this is my 2, 4, 6, 7, 8, 9. This is my 10th consecutive green day. so I'll write that down 10th and Green Day Alright, that's it for me.

I'll see you guys first thing tomorrow morning. If you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time? I upload new content. Remember when you subscribe, you become a member of the Warrior trading family.