[LIVE] DAY TRADING Morning Show 9:00 - 9:30am ET with Ross Cameron

all right so it's just past 9 A.M top of
the hour
this morning
sort of like last week uh we don't have
a lot going on last week the best week
the best day of the week was on Tuesday
as it turned out for me uh that was my
best day I I don't even really remember
the whole week but um Friday was a green
day so you know Monday was a little slow
Friday was a little slow and here we are
at the beginning of the week looking at
the Gap scanner and we have a gapper of
107 tmbr
um
however you'll notice that the headline
here is that they're to be acquired by
Leo Pharma
so typically an acquisition trades
exactly sideways but sometimes
there are terms in these Acquisitions
that allow the company being acquired to
receive more per share
if they meet certain milestones so every
so so that means there's a guaranteed
buyout price of I guess 262.
but they could get more if they meet
certain Milestones so sometimes Traders
will speculate and trade uh you know
something like this hoping that they do
meet some of those Milestones but
realistically uh I usually won't trade a
buyout its upside potential is fairly
Limited in total
I would prefer to trade
uh something that has you know front
side of the move that has quite a bit
more upside potential they could go up
you know 50 100 percent more
so this morning tmbr is our leading Gap
or at 106 percent tirx is our second
leader at 29 just under 30 percent this
one's pulling back a little bit as you
can see pre-market high is like 180.
that's not a good pattern to be buying
into right now so I don't see anything
there to trade leaving that alone
um
let's see next one down eliq
eliq there's really nothing
um particularly interesting about this
right now it's been selling off you know
I I will say that
these after strong sell-offs can have
bounce days it's already had one bounce
day though so could I have another one
up here
or down here maybe but I wouldn't be
that eager to trade it so let me just
look at the level two for one second
eliq it's a nicely listed stock New York
Stock Exchange
sklz this one hit the scanner a few
minutes ago popped up here to a high of
86 V8 but just for a second on it
doesn't even have a hundred thousand
shares of volume right now 60 000 shares
so let's look at
um the continuation scan just to check
out stocks that made big moves last week
so spgc this is really remarkable
um
you know how how much this one moved up
and how much it's come back down I mean
this this is pretty insane so
it's all the way down to 266 right now
it hit
um hi there 32 a share
and at IPO well what did it start
trading at
I don't know but in any case
um
it's come down quite a lot
all right so it's a it's on the
continuation scan just simply because of
the range in the last two weeks and you
know these are candidates to watch this
would actually be more of a reversal
than uh really continuation but it's a
high range stock
so
let's see the all-time low right now is
about
well that little blip down there this
low was about 245.
so spgc low of 245 currently up about
five percent
yesterday's high was 327.
so you know it's it's worth just keeping
an eye on it I'll put I'll put the chart
up here spgc
could get a first daily candle to make a
new high and could that give you a move
of 20 30 percent
that's not another question
all right next one down lqr cheaper
stock
again Big Move sold off could have
bounce Maybe
glto
62 cents
vtgm
no
probably not it's the thing with vtgn is
it's below the 200 moving average I
don't like that
BFS
uh first daily count will make a new
high would be over like twenty dollars
jtai
foreign
yeah it's a funny chart
okay
um well
that was helpful just to take a look at
those
overall Market this morning we've been
pulling back for the last week or so two
weeks which explains in part why August
has felt a little slower why last week
may have felt slower I mean the market
was pulling back last week so you know
that does weigh a bit on things
so we've got a little bit of a pullback
in the overall Market
not sure exactly where
we're going to find some support but
start bouncing on Friday bouncing up a
little bit more today
pre-market although giving back some of
those gains off the top
so I think anyone who is uh who was
Green last week you outperformed the
overall market so congratulations you
did a great job and let's see if we can
do that again this week and that may
mean laying low and being a little
patient until one starts to move so like
right now you could say Ross you know
just sitting here not trading anything
well I don't see anything moving enough
right now to Warrant a trade
and something that's important to be
mindful of is thinking about your
accuracy trying to be accurate so higher
degree of accuracy better profit loss
ratio gives you more confidence to start
trading with bigger share size so trying
to just bump up that accuracy sometimes
starts with just being a little bit more
patient and asking yourself is this
really a good quality setup does this
actually give me two to one profit loss
ratio and and if not then you know
there's really no reason to be punching
the keys the better thing to do is to
sit tight be patient and wait
so that's my that's my Approach uh I I'm
you know I'm not even as good at that as
other people I see some people who won't
take trades for like three or four days
and then you know they'll get a trade on
the fifth day or whatever but
I usually don't have that many no trade
days
although maybe I should have some more
of them I think I I could work on being
a little bit more patient
so I even I need to try to improve on
that
so it's about ten past nine
uh let's see
foreign
s come out at the top and the bottom of
the hour
you never know you could get a headline
that
comes out sometime between now and the
open but that would be fairly uncommon
so I I think right now
the game plan is just going to be
no trades going into the open and to
watch to see
how things look between you know 9 30 9
45 going up towards 10 A.M
and see if anything shows itself and has
some momentum
if we see some momentum then that's what
we're looking for but right now it feels
like a pretty cold start to the week
that's not totally uncommon for what
it's worth you know the beginning of the
week
you know it's usually even if you had a
great great day on Friday it's kind of
hard for that enthusiasm to carry over
all the way to Monday you know it's kind
of like it's a new week let's just see
how things perform and so you know in a
hot Market we have something that's
gapping up then right away we can kind
of get our feet wet but in a colder
Market I think a lot of Traders will
hesitate a little bit so
we are waiting for something to prove
itself and then that can start sort of a
cycle of momentum for this new week
so we need something to get started and
um
by all means it could be something that
looks good call it out
I'm just going to be watching scanners
being patient waiting for something that
starts to move quickly rate of change
that's what I want to see
we know that some of our biggest wins uh
or some of mine this year at least have
been from
revert recent reverse splits
recent IPOs
and SPAC mergers so those are a few
setups that I'll continue to pay extra
close attention to
foreign
I I don't think there's a class
specifically that just focuses on the 10
second chart although it's something
that's on my charts throughout most of
the classes so I do end up talking about
it
um but I can make a note
to cover that
um
in a bit more detail if you'd like
foreign
all right well
um I think I'm gonna spend a little bit
of time here hitting some comments on
YouTube so those you guys uh who are
tuned in on YouTube uh always feel free
to leave comments because I do respond
to all of them
and I'll give you guys a link here if
you didn't already check it out uh to an
episode that is kind of a nice summary
of the strategy that I've used for the
last well more than 10 years
uh this is the strategy right there I'll
just post that link on on YouTube
um
that I've used to make uh over 12
million in gross profit I think when I
um updated it I was at 11 million 949
499.51 in gross profit with this
momentum strategy so check out that
episode uh if you want to learn a little
bit more about momentum there's no
question that patience is key to any
trading strategy you've got to know what
you like and if you don't see it you
know wait until
uh wait until you do so patience is
important I'm exercising that today take
some discipline to be able to hold tight
you want to sit down you want to punch
the keys you want to make some money but
uh cash is also a position so my account
right now is sitting in cash ready to
trade and just waiting for you know that
setup that that looks good
all right so that's the game plan for
today thank you guys for tuning in uh
for the morning show I hope you enjoyed
it I hope you hit the thumbs up hope you
subscribe the channel and we'll be back
at it first thing tomorrow morning
reminder as always that trading is risky
and my results aren't typical and
there's no guarantee you'll find success
whether you trade with me or you learn
on your own so take it slow and
certainly practice in a simulator before
you put real money on the line