Evening folks! Drab day in the market today. We chopped around for the most part with a lot of false signals to the long and shortside. Seemed like a day where if you bought at breakout you end up selling at the low of day to see the market bounce. Usually in these type of days getting stocks low and selling them into pops works better then getting a confirmation of a move over resistance. We should get a bounce in this market and get some type of retracement in this rundown phase of the market we have been in since May 1st but that doesnt mean it happens. Ideally off such a huge dump this month a pop to the 20dma or so would be logical. Right now the market is just dicking around waitingt for a catalyst. It does seem the selling has subsided and the bulls are stepping in when the market gets weak and defending those facebook lows……….. just need a catalyst! it can be anything and that can ignite the market when it comes who knows.
On the otherside of things daytraders are still very active right now. Biotechs ruled the day with the asco conference going and the amazing run in ROSG there were quite a few stocks that were getting pushed around.
Rosg is funny stock. I get multiple emails from my brokers calling in all the borrows all over the place. The buyins cause a major short squeeze as the float is in the 1millions and everyone was forced to buy that open. Then @bclund in chatroom posts link https://twitter.com/#!/RachelStarrxxx that a wonderful pornstar with 90k followers has been hyping this stock. This is why u got to love low floaters.. once 1 person starts the run .. the volume builds and it goes viral. You get twitter,facebook, chatrooms all piling into the stock with only a 1-2 mill float if just a 1000 people buy 1000 shares you’ve taken out all the supply and bam! it can run much harder then anticpated. Then of course after the brokers called in the shares today after hours they diluted the stock and it will probably open around 10 bucks or so… if there is a big morning panic as traders are dumping all over each other should make for a nice bounce
WE had a great week in the chatroom. Besides for a couple mishaps on friday due to the transfer onto the new bullson.ws 4.0 site I didnt trade much. We were though for the week 18 for 25 on alerts which is not to bad for a falling market. If I had been more focused and not broke a couple rules I could have boosted the numbers significantly as I missed a few gimme trades that normally I would have found like $bks intraday break on friday.
If you want to see how I trade checkout our SHORT TRADE IN GRPN last week.
bulls crew! our next 16 day trading bootcamp is starting June 10th here is the information https://bullsonwallstreet.com/trading-bootcamp-2-2/ let us know if you got any questions.
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