How's it going everyone decent week so far we're finally starting to see a little bit of a bounce in the market. Nothing crazy, nothing, drastic um and i do think we're gon na chop around we're not gon na go straight back to all-time highs anytime soon. I think we're gon na chop around and consolidate for a while until this evergrand crisis in china really really gets resolved, and i think that's gon na take a while take another month or so so until then, for day trading. Still, i'm gon na be more conservative.

Um trying to take the meat of the move, which is something i failed at doing today and uh not to stick around for too much chopping, getting stuck in unpleasant situations in which i will tell you in just a little bit um. First, one is lucid motors lcid. I treated this one on the short side. If you kind of look at this chart on lucid motor sound daily, it's been going up straight up, for you know, maybe like six days straight all the way from 19 to 20, 22.

24 and yesterday it reached a new high of 28 dollars and rejected, and yesterday that's where you see the first red day, the first major red day after a straight up, move of five green day street um. So yesterday i traded the stock very. Similarly, as today yesterday, i actually waited for the stock to go green to red and then start shorting it um on the way down. I never made it to this low.

I think i made it to about this this this part from 26 and short from 27. um, and today i was also shorting the stock. I was happy about my entries, but i i'm kind of just a little bit frustrated that um. I did go back in and add back to my position and unfortunately, the stock kind of ripped um after that, so i did give back some profit on the short side.

So if you look kind of look at this 26 area, the reason i'm looking at this is because, first of all, uh we have a small gap up after a first red day, you have a small gap up and when the at the morning, spike is spiked To um the area right here, around 26 tens area, i was kind of looking forward to see if they're going to spike to 26 and 80 cents, because lucid motors does have a tendency to go uh spike straight up and dump straight down um. So it's very linear and it does so without much of a pullback. What you saw today is spike to 26. I did get in shorts and add it on the way down.

25 80s. That gave me an average about 25 90s covered some on the way down, but i think there's a lot more room to go to previous days close. So i was out most of my position on the short side around 25 and then here you know it did start looking really weak and i didn't add back in slowly on the short side um not back to my full size but adding back all the covers. I had at the back some 25 and you can see uh.

It did tank a little bit lower to 2460s and i at that point i thought they were gon na test the low of the day from yesterday 24 30s and then maybe we can crack that low and go to 23s potentially, but that just happened. You see what happened now: the stock later reclaimed the previous days closed and reclaimed v wap. I did have some small size ads back into it, but around this part, 25, 30s here and then after this react here, 25. 40..

That's where i got out rest of the position, so i'm a little bit annoyed. I did give back half the profits on the short original short um, because i had very good entry and very good average and that's a reason. I kind of want to add into a winner and kind of let it work out so on this trade. The scenarios are whether it becomes a big win, a small profit which it ended up being break even or a small loss.

Those four are should be the scenarios for any given trade that you take uh when it comes to day trading. So keep that in mind. So yes, it, the the the trade turned out to be a small profit, but i think you know i still manage everything. Well, um: you can see this thing later on spike to almost 25 sorry, 26 um, so that i didn't stay around for that.

I was so out around 25 30s there's a fine balance between holding on to your winners and try to let it work out and turn to a bigger win and cutting your your winner, short, i'm. Seeing that your plan is no longer in your favor, like the stock is about to reverse to the upside in this situation, because i was short so there's a fine balance in that and every day as day traders were trying to find that balance. And today i'm happy: i got out for a small win as opposed to keep holding on to it if the stock went all the way back up and that probably would have turned um this potentially big win trade um to a big loss or a break-even trade. So walking away with a small profit, it's fine, it's fine, it could have been better, but but but it's all good in the hood and speaking of hood, i also assure the robin hood: just a small little scalp see what i did there.

I wasn't gon na talk about this stock, but uh just a small short, 47 80s down to 47 40s, a quick little 40 cent, scalp, not a lot going on today for me in the market. So i'm taking on these like little little scalps that they eventually add up. So this one is just a small profit and yes in case you were wondering the only reason i took this trade is so i can set it up for the joke. Okay, all bad jokes, aside: let's move on to our next trade ater.

This is a stock i took on the long side um. I did have plans to short it, but with my broker, cobra trading, i didn't have any locates too short, and i am definitely not saying that if you can't short the stock, then it's a long. That's not what i'm trying to say, but a lot of times when you have these um highly shorted stocks, the small cap stocks, especially that's being kind of grinding up for multiple days, you kind of have two sides of the trade trapped. You have the people who is long trapped above the the 15 16 17 range, and you also have the shorts, who have been kind of trying to short the stock from 11, 12s and 13s and getting squeezed out on the way up.

And for me, it's about kind of identifying those key levels for both the loans and the shorts, and if the stock had popped back to the 17, those would have been my short entries if i had located to short the stock. But if the stock tanks, all the way to all of these multiple days of support areas around 13 right here, you can see this thirteen dollars a lot of levels there and below that you have about. You know 1260s down here you're. Looking at the past couple of days, levels um, so that's the reason it went long and when longing these uh kind of kind of big sell-offs right in the morning, it's a scalp only right and even though it's a scalp, it's like a one dollar bounce.

So i got long on the stock you can see. I was using a two minute chart uh in the morning, at the spike pre-market to 17, reject it and kind of just sold off so from 17 to 13. That's a four dollar drop within a span of what half an hour and at the open, opened around 14 and dropped to 13. I got long just looking for a quick little bounce move.

I thought it was going to go to 15, but around the around this 14 area, the the the buying pressure started slowing down um, i thought you know since ssr was triggered. Ssr stands for short sale restriction, since that was triggered. You might a lot of times. You see like a pretty big bounce off the open, but unfortunately that really wasn't the case.

So this is where we go back to the point earlier, where i talked about a balance between letting your winners write out longer and holding for the bigger move, in which case would be the 15 1560s and or seeing that okay, my thesis might be. You know starting to reverse in this case. It might start creating these. You can see on the two minute charts lower highs, a lot of selling volume started coming in.

So that's where you got to adapt and seeing that okay, my price target, the final price target to 15, 15 15 60s - probably isn't going to happen so um, that's the reason i got out around 14 1460s and i was holding half of it for potentially 15 And more didn't happen, so i just bailed out all my position at 1430s, still a decent profit from a brown bounce move around 13. So those are the day trades i took today, and i know you must be wondering shay what happened to your all-time favorite stock. Amc well, i did not day trade amc today um. I actually currently have a swim position on the long side.

It's a position we opened yesterday. So if you look at amc it you know sold out from 52 dollars all the way down to you know. 39. 38 dollars for the last couple of days with a market sale of the volatility, and yesterday was the day where i take, took the starting on the swing trade.

So on this day over here yesterday, if you look at um the way the stock traded um, when, when you i'm doing these swing trades, you want to look at a charge on a daily chart and the shortest time frame should be hourly, chart um. So yesterday i took the position near the end of the day: four tens area. So that's why i took the position um. The risk would be about below the daily support around the 39 38..

I want to see it start dipping to 39s and to add back to the position and the stops will be under that 30 38 level, so everything's calculated upside, i'm looking for a potential push if market stays healthy. If we get a rebound in the market, potentially higher back to these areas, 50 would be great, but i think that will take a while. So and again, knowing that i have the patience of a teaspoon, i don't think i can hold on to 100. I know a lot of people are waiting for that, but i don't think i can do that.

So this is just a swing trade. I'm not gon na hold on to it. If it drops down to 32 30 or 20 dollars, i'm not gon na. Do that.

Um, that would be ridiculous, so this is my position right now on amc swing, average cost about 40 dollars and 10 cents. I have room to add around the 38 39 to build the the position for the long side and we'll see where it goes, but full transparency. Here i am long amc for the swing trade. Okay, let's go through some fun comments.

Right now, actually, don't know. What's funnier my bad joke in my last video about turning 50 years old and retiring next year, or the fact that a lot of people actually believed it i mean. Do i really look 50 like come on? Okay, guys, i appreciate your curiosity, but i'm not actually 50.. This alex matthews.

He got it right, i'm at least 51 years old. Second question is from mr chive and my answer to that is it's the market. Man, it's been so choppy lately so hard to make money. I barely make enough to buy dinner.

Apparently and yes, my fridge is pretty much empty. Okay, oh jokes, aside, i'm very happy to end the day green, especially in this kind of choppy market condition. If you have any questions feel free to leave them in the comment section below. I want to get back to doing the q, a videos, and hopefully you learned something from from today's video.

Thank you 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. 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.