Amc, the momentum stock that just keeps on giving um so obviously today you know, was a great dip, buy opportunity on amc and there were a lot of other stock as part of the reddit movement. That's also in play today and if you recall from our weekly watch list, amc was on watch if the stock can break out and hold above this 52 key level um. That was the level we were watching. If you kind of look at intraday today, the stock, this spike at the open and came back down and dipped and consolidated around the 52s, so that's the importance of using key levels.

If you are trading the stock again, were they trading the stock? This is a day trading channel. So that's what we're doing so. Basically, the amc was on watch um on the dips right. I really like the morning gap up um.

I like the fact that they spiked at the open to 54s and sell off and start consolidating. This is a five minute chart. I've been starting to kind of switch between two minutes and five minute charts, and if you look at these, they held the 52s area once twice three times and after that, third time around around 10 o'clock. This thing did the v1 reclaim.

So it was all long. Some dips i did sell into the pushes at first, but i only got back in once it pulled down to this 52s area, reclaimed higher lows around 50 50 to 10 50 to 50s. These are the areas that got long so up here around 55s. 55.

90S. I was so out of the initial lung and this is the area. I look for this pullback um to this 53 90s area, so i was watching amc consolidate around this 54's area. If you kind of look at this, this is the prior highs um on amc.

I was thinking that they might pull it down to 53s sub v wap and then consolidate reclaim view up again to squeeze it up higher um, but they didn't do that. It was holding up very strong. So i had to start here around 54. I even added on the way up: 54 tens um.

It didn't had a small push but came back down still in the consolidation range and looks really clean on the two minutes. If you go to the five minute chart, it's even more so five minute chart. You can see this is basically a consolidation up here. It never broke down the 50, the wicks area at the below at 53.70.

So that's why i held on once the stock starts breaking out into this 56. 50S. That's why i sold some into the push. I was so out of the remaining in this 57 syria because that's my price target on this um.

There was upside to 60s, that's possible, but i didn't want to get stuck in this kind of grind action. You can see the stock 57 popped to 58 and then back to 57s. Again, it kind of tried a couple of times holding up. Well, you know it kept the the lows just kept on getting higher and higher and they just broke through to 60 dollars.

That's the high of the day, sixty dollars fifty cents uh. You can see this sixty dollars. Fifty that's a key level as well on the daily, so you can see on the daily in order for the stock to go back to seventy dollars. Potentially, it needs to break above the sixty dollars area.

This is technical analysis. I don't know why people keep on saying i'm doing fundamental analysis on amc. I've never done any fundamental analysis on amc. This is all technicals and we are day trading here.

So technicals is what we care for most of the time when we are day trading momentum - stocks like this, so anyways um. I still have a very small remaining position on amc. Uh, we'll see what happens i kind of want to see if we get a nice pop over to 60 dollars and above um, either today, possibly or tomorrow, um. I think tomorrow will be more likely, but we'll see right now at the moment today, there's some tops around 60 dollars, but we'll see what happens again, i have a small re.

I have a small position left on amc. I picked them up at a very good average around 52, we'll see what happens on that stock, so the next stock is enob on the short side for me, um they get that from news about their fda acceptance, uh, but keep in mind. This is not the same as fda approval, so you know they definitely uh. You know, did some uh, you know sneaky things there with the title of their press release uh but anyways this stock.

If you look at the way it traded it basically gapped up and spiked to the same area on the last time it gapped up about a year ago in june, you can see the stock. You know this is the overnight gap up and they opened at 13, but it just faded all the way back to six dollars. That's the reason i was more short bias on the stock. The locates were extremely expensive um, so i did scale in short slowly at the open, uh, 12 and then 1260 sorry, 1160s.

On this fake holiday day breakout. I did cover some just to minimize my position. I want to add into the shorts once that proves to me to be the top, and it did. You can see the stock after that initial stock after that initial morning, breakout fake out it just slammed right back down, and that's why i was more aggressive with adding back in on my shorts um.

So i got stopped up for a small loss at first and i added back once that fails added into 1150s and added on this and another spike. You can see this spike to uh 1250s and then slam right back down to 1190s. That's what i added builds a decent position, and then it was just doing like this annoying grind back up overview. Up again, i had to have to be careful.

I trimmed my position again. I was holding into a majority this time around. I want to make sure i'm adding once they break down low of the day. That's why i covered once.

You can see this thing spike too, 1240s again the same trick as they did the last two times in the morning and then around. I guess 9 40 and then did the same thing: almost 10 o'clock, the fake spike to 12, 12, 40s and slam right back down. So i covered some and i was adding back in all the positions um. I was using once they broke down low in the day 10.

70S. Then that's where i started covering into the flushes. I was trying to hold um half of it, at least for that potential fade down to eight dollars or sevens kind of like what they did. Um a year ago, if you look at last june, they did this all day fade.

I think it could still do that, but this stock they were really good at doing a lot of these like choppy and trap grindback action. So i didn't like the fact that they broke down ten dollars to 950s, but they reclaimed this over here around 10. So that's why i covered all of it. I feel like you know that would have been a better short entry.

If it goes back to 11, then i could reshort it but uh. You know this thing went back to 1060s and just rejected hard and they faded down back to tens and then to lows nine dollars. They even broke down to eight eighties. In hindsight, yeah i should have held on, but you know i didn't wan na get trapped and short squeezed on a monday um.

So we'll see you know if there's more re shorts on more pops later on, maybe tens. You know 10 10 40s later on, but uh at the moment. I'm all out of the position it's a little bit disappointing because it did fade all the way to even lower to nice, but with a lot of these small cap lower float shorts. It's tricky like holding on for too long, because there's been so many instances where i see the stock consolidate at some pre-market, low support, 10 fake breakdown to 950s and reclaim this and then only to squeeze it back up to highs.

So that's the reason i was trying to be to kind of protect my account and protect my short position um. So this turned out to be a small win. You know it would have been very nice if i had held on to it, but you know everything is clear in hindsight right with this kind of short squeeze potential stock. You know, i think it's better to to play on the safer side.

You can always be shorted um at lower highs. You know this this, you know without being a nice entry, but i think ideally, 11 would have been better risky word wise, so this one is turned out to be a small winner. The next one is s-e-n-s, so this one is also up with a lot of reddit hype, but for this one no, i did long it and i sold into the push and then unfortunately, there was not a lot of follow through. If you look at the stock sens, they closed at prior days closed four dollars.

They gapped up all the way to 470s, no, that's nice, but it sold off the gap pre-market. So you know so for me to loan the stock instead of picking the bottoms. I want to see it reclaim some key pre-market support, so for this, if you look at the pre-market supports it's around uh four thirty sevens, it's a smaller stock um like if you look at this level. The range is not as as big you can see.

Even the spike was only like 20 cents, no actually only 10 cents um. So instead of trying to pick the lows uh trying to long and trying to catch the falling knife, you know on a stock like this. I need it to show me that it wants to reclaim this kind of key level. So you know once i see a reclaim some decent volume at the open.

You know some very nice volume couple million shares traded. That's why i got long 40s. We got a nice spike to 453s and even almost almost 460, but like 458. That's why i sold into this at the remaining position.

Wan na see if we can get a potential re-test of pre-market highs, but unfortunately no i didn't like this kind of harsh rejection of the 460.. So you know i got stopped out the remaining shares here. 445., so this will be the same situation as an enob that one was a short but on this stock, since on the long side it turned out to be also a very small winner. So that's the thing, that's very important to kind of keep in mind of if you are trading these kind of momentum, stocks like uh since uh, even though it was a good long care.

You know if i don't see strong continuation. If i see that there's a lot of selling on this um, i don't want to keep on holding on to it, because you know you don't want to turn a winner into a loser before we go. I just want to remind you that this is a day trading channel, meaning that i'm trading in and out of these stocks using the intraday momentum and volatility. If you bought amc at two dollars, five dollars or even ten dollars and want to hold on to it.

Till 100, or literally to the moon, i think that's great just follow your own plan, i'm not here to tell you what to do with your money. Just like nobody should tell me what to do with my money again, i'm just here taking a small piece of the pie on amc every single day and if it dips later on to around 56, i might go long again for another dip buy again. This is my business i'm day trading, i'm just here taking some small profits each and every single day, but, like i said earlier, i still have some small remaining position left on amc, um around 52 dollars average. We'll see what happens.

I think this might give us a couple more plays, maybe during power hour or potentially tomorrow, especially if the 60 key level on the daily gets broken above and reclaims, so i hope everyone's staying safe, remember, trade, your own money and follow your own plan. Thank you. Guys for watching and i'll see you guys next time, hey guys thanks for watching. I hope you enjoyed the video and the bad jokes if you want to see more day trading content make sure to subscribe and follow me on twitter and instagram for more.

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