Hello, everyone welcome back from the long weekend happy canada day if you are canadian and for my american friends happy independence day. Hopefully you had a really good long weekend as well. So today, coming back from the market, i was hoping and expecting more follow-through today. Uh being that it's a tuesday after a long weekend, uh, but unfortunately, today was just kind of like a little bit slow to be honest, a lot of breakouts.

You know it didn't really hold um, i'm ending the day green, but it's a pretty small green. For me, and let's kind of go over some of the trades right now so first stock neo, this was a stock that i traded a couple of times last week on thursday and friday. I believe, mostly on the long side, and today you can see the stains sold off from the highs from last week from 55 all the way down to 49. Today, if you look at the way, it's trading pre-market pre-market was around 49 after the huge sell-off.

But if you look at a daily chart um, i like the fact that, on the daily chart, um the weakness around 48 dollars and over at 49.70, this range that long wick near the bottom kind of got bought back up um. That is, this shows that there could be some interest in the stock on the long side around those areas um, and they also have an event on july, 9th the power update um, i believe, um in china. Well, i'm not a long-term neo investor. I know from the last you know many many times: i've traded a stock before i know a lot of times.

They usually run up into the event, it's kind of like the tesla battery day. They usually have a lot of these events, and the stock usually runs up leading into it so um. If the the event is in a couple of days. That's why i was looking at the weakness around the 48 70s and 40 and 50 range to see if we're gon na start getting some volume on the breakout and we did break out today, but unfortunately we didn't hold the breakout um.

So that's anyways, that's the kind of the thought process behind looking at neo on the side, i'm usually better at trading neo on the long side in the past. Before i remember trading this thing on the long side, all the way back in near november december of last year, when it rang up from 40s to you, know 50s back to 40s and then went all the way to all-time highs around the 60s and almost 70 Dollars i'm happy neil finally broke the downtrend uh, it retraced all the way to 30s and now it's coming all the way back um and currently we're trading around 50 range uh, but anyways. That's my thought process behind why i was watching nioh and the break out today was pretty strong on the front side and then later on in the midday after, like 11 o'clock, it just sold off again so today, if you look at the chart uh, i avoided This morning, breakouts because a lot of times um, you know the morning breakout a lot of times. I've seen the stock break out, especially neo, break out and just pull all the way back down.

So i didn't try to loan this in the morning. At 50 dollars 40 cents, you can see the opening price was forty, nine forties um. It went all the way to the fifties and then came right back down so um. I didn't.

I didn't catch that and i didn't wasn't involved in it um. It wasn't until i see it come back down near the 49 40s, where it opened and kind of slowly, consolidating um held a higher low 49 20s and we're still seeing some steady volume. So it's not like volume was drying out. I broke about v, wap um.

I saw the pullback to the same area, 49, 50s and that's why i took the long. But ideally i wanted to see it go red to green. So if it's a stock, it's below previous day's close and it's red on the day and psychologically, i want the stock to actually go green on the day and that's where you get the actual volume surge come in once it goes green on the day. So um, usually my rule of thumb, is unless there's a very good thesis and a very good setup.

I try not to loan stocks, that's red on the day. That's like the most basic thing: um you can do and if you're new, you know, if you keep that in mind, just loan stocks and screen on the day, you know don't don't loan stocks, that's red on the day. That would actually save you a lot of money um anyway, so i sold some into the previous state close and then i, after seeing that it's actually holding the previous day's closed area 50 40s and the volume was very strong as well. If you look at the five minute volume, these things are trading at one to two point: five million volume traded.

So you need volume to break out um, especially on um on these kind of stocks. Um, the larger cap stock is kind of under a lot of pressure. You can see it's under the same uh, this resistance 51.60, but we have some decent upside. So that's why i added into it 50 sixty cents.

I added on the way up. Um. Remember large cap breakouts um, i'm comfortable buying the breakouts on the large caps, wouldn't do the same on a small cap, so um fifty dollars seventy cents. I added some more sold something to this and re-added kind of just kind of re.

Adding back to the shares. I sold on the way up. Uh took the profit most of the profits at 51, 51 small resistance here and also on the daily as well. You can see on the daily chart 51 dollars small resistance, um, but really you know the the.

I think the key resistance around 5160s, which is the highs from this, is friday, yeah from last friday, um. So that's why i longed into it and also out around the 5150s. I was looking for more potentially, but um didn't get it and the market was heavy. So, that's why i didn't go back into neo.

You can see this thing went red on the day after going green and when read about um. This is like what almost 12 o'clock about 11 30. So you know to me that's kind of bearish if it went green on the day and it went red again, so you can see it's rejecting that red to green again. So that's why i'm leaving this thing along until maybe later on power hour or again tomorrow, i'll be looking for something similar next stock was a loss and i had a very nice entry on osat.

This is a very, very small float stock and today is the first day it gapped up um. I was buying the dips on this thing. Like i said, i wouldn't buy the breakouts um most of the long is down here at 8 19. and i was adding small size into the existing position.

Thinking that it's going to do the big um squeeze to ten dollars, sixty cents like it did a lot later um, but it came all the way back down. So this one turned out to be a small loss um because i did add on the way up. Um but decent entry uh originally at 8 17.. She just sold it into um 950's breakout, but could i would have, should have uh and it was a small position.

So i was looking to for more upside um, but this one turned out to be a small loss on osat and i just kind of left it alone. Um, the these kind of super low float socks a lot of times, it's hard to predict and that's why i still prefer to trade, the large cap stocks and if you are newer trader, i would suggest just my own personal opinion. It's better to trade. The larger cap stocks - that's a lot cheaper, as opposed to trading.

These micro floats because the variants are very big. You can either make a lot of money or lose a lot of money, especially if you're brand new and don't know how to manage your risk. Most people will make some money. You know when, when these low floats actually run, but they give it all back a lot of the time so anyways, that's from my own personal experience.

Some of my biggest losses as a new trader in my first year was from low floats, so i didn't really start building my account until i finally just stayed away from these low float small cap stocks and focus on the larger cap stocks like nioh, like the The spce, like the the bigger names um - that's not crazy, volatile, like these uh low flow stocks like osat. Next one is another low, floater nrin, and this is kind of the the leader of these low float, uh small cap stocks for the last couple of days. So yeah, mri and um: that's leading the these kind of small cap sentiment and then you have the new ones osat, and then you have b-l-i-n um that one's also down on the day-to-day. A lot of these um low, floaters they're very extended on the daily um.

This mrn came from three dollars and was up, for you know a couple days straight, um right now, trading at 25 i didn't short the stock um. I didn't see an edge in the short until it really really actually show us that it's you know it's gon na have a breakdown date on the daily, i'm kind of watching this for a short. Eventually, i don't think that's gon na be today, maybe tomorrow on the short side, uh, it's it's showing two red days now, but today it's kind of still holding up. You can see that it's holding this 21 prior days, fridays small support, but you have resistance.

At 27, for now it's a no trade. I only scalped it on the long side, i'm just buying the dips and selling into the breakout small small position where i'm scalping these low floaters um, but the small profits, 24 50 sold into 25s same thing again. Here, 23 sold into the 23 90s when i trade these low floaters, i'm not holding for home, runs especially they are so extended on the daily you kind of have both the the longs and the shorts trapped. The shorts have been trapped since maybe like six seven dollars um, i never.

I never showed the stock. You know it's very dangerous. I don't know if you guys have noticed, but i've been shorting. These low floaters small cap stocks a lot less in 2021, especially when it's still trending out on the daily.

I just made that a rule and that's been saving me so much money so um. So, that's why i didn't short mri and, but i think that they will come. I don't know if that's gon na be tomorrow or the next day, but so far you can see on the daily. Each dip is getting bought back up.

Um, the shorts are still pretty bent on the stock, so just small scalps on mrn and i'm trading when i'm trading these uh long, i'm also using a lot smaller shear sizes as well, just because they're low flows and they jump up and down a dollar two Dollars really fast now next one is bsqr. This is an example. I said that when i'm shorting low floaters, i would only um kind of scalp or i would wait for it, hit some daily resistance. So the first day was this day when this thing ran from on the 29th um to four dollars to eight all the way up, and it's been selling off so today, when this thing actually rang up again unknown news, i'm using the more the resistance areas from This big green day on the june 29th using the key areas to short into in the morning.

I was looking at sixes, but i missed the entry um if i showed it at six, it want to cover into the flushes to five forties: 40s. 550S. Decent profits. Didn't keep selling off and actually reclaim v-wappings actually breaking out to new highs um.

But the reason i use the sevens is because, if you look at around uh, where it traded on around the seventh on the june 29th, a lot of decent resistance around the seventh area, the reason i use a 710s sevens is because, if you look around um, Where it came from on june 29th, these were some decent resistance areas from seven dollars all the way to 740s pretty much, but today, ssr is triggered, so that makes the stock even more difficult to short and it's probably contributing to a lot of the short squeeze Um on the stock, it's also very easy to borrow. So that's another thing. So what i'm shooting these small caps, especially when it's easy to borrow and especially when ssr is triggered um, i'm just looking for the flush moves and just covering to it um. I wasn't gon na hold it all the way down to 540s, because that's just not working in this market.

There's money to be made on the long side and short side, but all depends on the timing and whether you planned out on your entries exits and your risk levels. So bsqr came all the way back to sevens today. Uh i'll be watching the stock, maybe in the afternoon or tomorrow how it reacts to this eight dollars resistance on the daily um. It will be very interesting, i think, um they trapped a lot of shorts today with a big rung up from five dollars to sevens.

Uh, by the same time, you also have a lot of loans. That's trapped around eight dollars, so we'll see what happens around that eight dollars area, but it's definitely on my watch. So, a little bit of a slower day today, i'm ending the day with a small green over here, very small green, i'm just kind of taking base hits and not gon na outstay. My welcome again following the big losses i had near the end of june um.

I really sized down a lot, so i'm still trading with smaller size until the opportunity really comes back up and so far today, just a little bit disappointing, not a lot of volume so but i'll be okay, and i do want to say, though thank you. Everyone for your support in my last video in the comment section, like you probably seen, i had some difficult times at the end of june, with trading after a long streak of green days, i think i had like a three week screen streak and um the the End of the week in june i was just like pretty much all red. I did give back a lot more profit than i wanted. I gave back about 20, which you know i'm still up very decently, but it was a little bit disappointing and that's the reason.

I was a little bit more frustrated, but at the same time you know you have to keep everything into perspective right for someone who can make a thousand dollars and they lose 200. It sucks, but they still have the ability to make that one thousand dollars in the first place and it's from that risk reward ratio that the same person can kind of build it back up and the size back in once the opportunity presents itself. So please don't worry, i didn't blow up um. I just had some rough patches and i was just sharing my red days and my frustration with you guys kind of trying to show the reality of day trading.

There are gon na be days where it's like smooth selling, you make big profits and there are going to be days where the the sentiment is just not in your favor, and you just have to manage your risk and try to keep your losses. Small relative to your account size, so thank you guys for all your support make sure to stay safe in the market, and i will see you guys next time. Hey guys thanks for watching. I hope you enjoy 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. If you'd like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources. Stay, green, stay, positive and i'll. See you guys next time,.

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