evening folks! crazy day in the markets as we had a nice gap up off strength overseas then a classic sell the news fade rest of the day. Regardless stocks were popping hard all over the place. Spec money flowing in stocks still and breakouts are not only breaking but running for days at a time. The last few hours of the day today the market did dip nicely and a lot of stocks that i track were down 5-10% off its high of the day. We might be in for a pullback for a couple days which is totally fine. We need one as its been nearly a month with any serious dips to scare the bulls. Its good to put a scare into everyone and bring back a little balance.
We had a crazy day in the chatroom I started off cold with a 4% loss in $dvr then a 3% loss in $spwr but regained my footing after the first 1/2 hour. We ripped kv.a for a 20% gain as we added on friday at 1.81 and doubled up at 1.94 today and unloaded our shares in the 2.1s to the 2.3s. Amazing range break. We also caught a great flag break in RAM loading up at the open in the 3.4s and nailed the rebound and 2ndary breakout in $my for 30 cents loading it in at 2.65. Overall a pretty solid day with some good scalps in $jva (.40) and redf ( 27 cents) sify (17 cents)
I went home pretty much flat though. When the market starts to dip the type of stocks i trade can drop 10% with just a few sellers as the buyers just go on strike.
subs: i got a video review up of our trade in KV.A today. The setup of range breakouts and how we played this reverse engineered in detail. Watch it and study!! you guys seen me now for years. I trade the same setups over and over and over. Once you learn the mechanics to them you can do this fulltime for the rest of your life!
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