Day Trading Watch List for MONDAY!

AI Summary

Transcript

What's up everyone? All right, in
today's episode, I'm going to break down
my day trading watch list for Monday
morning and the game plan for the week
ahead. We're going to jump right on the
screen share and start getting into it.
Now, if you look at my P&L for the last
30 days, you can see that we had this
really nice hot streak in the month of
June, and then it kind of cooled off a
little bit the last week before that
final day of June where I made about
$72,000.
Then, going into July, the first couple
days of July were a little bit colder.
Last week was uh and then the the second
week of July was a little bit warmer.
And then last week was a little bit
colder. So, although my P&L um and
equity curve is kind of keeping up
pretty well, what that doesn't clearly
show is that I didn't take any trades on
Thursday or Friday. So, yeah, Monday was
slow, Tuesday was better, Wednesday was
better, and then Thursday was nothing,
Friday was nothing.
I did trade in my small account on
Thursday, although I don't include that
uh the small account challenge um
results in this report because this is
part of my $583 small account challenge
that began on January 1st, 2017.
This is the 10th year of that challenge,
and so I kind of keep the buckets
separated between the big challenge and
then the the smaller side challenges
that I do from time to time. So,
although I had a $500 green day on
Thursday the 16th in my small account,
uh unfortunately, I didn't get any
trades in the big account on Thursday,
and I didn't get anything on Friday. And
Friday was no trades across all
accounts. It was just totally dead. So,
last week I still finished with about
$41,000 of profit, 53,000 on the second
week, 16,000 on the first week puts me
at about $111,000
on the month of July.
Uh and we've got two full weeks left.
So, you know, the nice thing here about
this month, just sort of the way the
days fall, is that um you know, we do
have uh four full weeks of trading um
without holidays. So, we did did have a
holiday on Friday the 3rd, but now we've
got this nice stretch without holidays
that kind of break up the trading week
and kind of break up the momentum.
But even in spite of that, we didn't end
up seeing very nice action on Thursday
and Friday, which is disappointing. I
would say right now, one of the biggest
moves in the last week has been on VEEE.
Uh Twin V Power Cats. This is a company
that makes um engines for uh motorboats,
and I think they sell motorboats as
well. And I've known about this stock
for a number of years because it pop up
from time to time, and you can look at
the chart and see that sometimes when it
would pop up, you would get these big
bounces, right? I mean, this is a these
are pretty big candles. You know, that's
a little bit of a uh oops, right there.
That's a nice move. This one is a big
move. Just look at the volume, right?
These are the days where it's like,
"Okay, there's a big pop." That was a
That was a big pop. Um you know, a
little bit right there, not quite as
much volume.
Um and then we had a couple really big
moves back there
on higher volume. Uh so, anyway, so this
is a stock that's been around for a long
time, but as you can see, the chart it
it just kind of keeps going lower and
lower and lower. So, I guess I don't
know, making motorboats and boat engines
maybe is not the most uh profitable
business model for at least a publicly
traded company.
Um
at least as far as the stock price is
concerned, that would be what it
indicates.
Um but they decided to sell off that
portion of their business, and that was
the news headline that came out right
here. They're selling off the motorboat
business, and they're doing a merger
with a privately held company to bring
that privately held company into the
public market. And that privately held
company does um
mining for different um
I don't know, it's um
Let's see, let's pull this up. Group
Mindland in Greenland. Uh and I think it
was for some type of um you know,
resource natural resources that they
have in Greenland that um it is
desirable. So, in in any case,
nickel copper cobalt etc. So, the result
here is that all of a sudden V E E E E
is no longer a boat company. It's now
going to be this other company. And so,
everyone trading it it's kind of an
interesting thing and very confusing. If
you had been shorting this thinking, all
right, this stock keeps going lower.
Kind of like the GameStop thing, you
know, I'm going to just keep keep
shorting it. to go lower and lower and
lower. And then all of a sudden they're
like, "Hey, we're not that company
anymore. Oh, yeah, that company we sold
it. It's gone. Now we're a new company."
And then all of a sudden shorts are
like, "Wait, what's going on?" And the
stock starts squeezing up. And it's kind
of a it's almost like a little, you
know, like you they really pull the rug
out from underneath shareholders on both
sides. You know, if you were a long bias
trader or someone who's invested and
you're like, "Well, I like the boat
company. And now you're just selling it
off. You the boat the boat company is
gone? No boats anymore? Now we're all
Greenland drilling?" You know, it's kind
of a a strange thing. And so,
these types of corporate actions can
result in lawsuits where shareholders
will file a lawsuit and they'll feel
that they've not been well their
interests were not represented in this
move.
But I don't think that you could you
could really say that because the price
obviously has gone up
a solid, you know, whatever thousand
percent it is now. So, let's see, let's
just measure it. So, from the low down
here up to the high almost 17
1,600% move.
So, this this was interesting to me
because it's a stock that had a very low
float as you could see here and then
came out with this big headline. And I
believe the headline might have also
included a private placement
to help secure the funding for
the new company, but I'll just have to
double-check on that second part.
Um
When was this?
All right, well, in any case, um, before
I
go do too deep in in the weeds on it,
um, it's not really that big of a deal
because I'm not going to be trading
this. This was an amazing catalyst, um,
created a huge move, and that's what's
important to recognize. Will we see more
catalysts like that? We might. It's
been, you know, kind of a while since we
had a good merger catalyst, but this
merger, sort of reverse merger from a
private company to a public company, can
be a strong catalyst. It's exactly what
happened with DWAC, uh, the special act
purpose acquisition company that, um,
was the entity that bought a a, uh, you
know, ownership stake, essentially, in
Truth Social, and then did the merger
and brought Truth Social into the public
markets in that method, right? And so,
um,
DJT is now, uh, the ticker for that, uh,
stock. But, if you look back, I don't
know if the chart actually would include
the price action from when it was
trading as a special No, it does. So,
this was this was what happened when
they came out with that news.
It went from like $10 to $170, $180 a
share in instant, which was insane. Now,
the market, you know, sort of had that
knee-jerk reaction, pulled back, and
then rallied back up. But, these days
here, on 480 million shares of volume,
that's when I get excited, and that's
when I'm going to be trading. So, I'm
looking kind of for that that next type
of catalyst. Uh, and at the end of the
day, what will We will find it is a
stock hits the small cap high day
momentum scanner, starts moving up,
ding, ding, ding. I pull up the ticker,
and then I see, "What's the catalyst
that's driving this higher?" And if I
see a catalyst that, you know, is
something similar, and the stock is
moving quickly, then I may interpret
that this has the potential to be kind
of on that same theme.
So, if we So, so, to start, um, on
Friday,
you know, we had S. dot,
kind of gained some momentum during the
day. It did end up going up over 100%,
but you know, a little more expensive.
Volume was a little light relative to
what we've seen. SLND, 200 million
shares of volume, but a cheap stock.
This really didn't have all that much
range on Friday. CJMB also cheaper.
BIWAY, B I
Y A, however, this one is interesting
because this one popped up um
in, let's see, after hours, pulled back
in pre-market. This was Thursday.
Pre-market Friday moves up, pulls back,
and then after hours on Friday, it
squeezes up to 553, and basically closes
right at the high. If you were holding
that short over the weekend, I bet you
probably didn't get a lot of sleep
because that's pretty scary to see
something go up and close that strong.
So, what I would expect for this is that
typically what happens is at 4:00 a.m.,
they open higher, and they push. It is
interesting that um in the last move,
you had this after hours move that then
dropped into pre-market. So, because of
that prior history with this particular
stock, it makes me wonder if maybe we
won't see that, but
uh but I do think there's a good chance
that you see continuation into Monday
morning. And so, it was already up um
you know, 36% or yeah, actually 81%
including the after hours move
uh on Friday. So, if we look at the top
gainers for after hours right here,
um after hours, let's see. Um
so,
38% from regular hours, but um
so, I'm just trying to see how much it's
going to be gapping up. Um I'm just
going to measure it from here. So, from
there to there, it's going to be gapping
up about 35%
already going into Monday morning. So,
that makes it one of our leading uh
gainers. I guess it's 38% that's already
gapping up. So, that's interesting. Um
CJMB,
um no, maybe that's not actually. Maybe
38% was the gap from pre-market. But
nonetheless,
CJMB, that one's moving up a a teeny
bit, but I don't think that's worth
really considering. So, change from the
regular close, yeah, I guess that's it.
32%. So, BIYA,
I would watch that. However, you know,
the challenge with this Cayman Islands
company,
that's where it's registered. We look at
the filings on it, we scroll down.
So,
>> [sighs]
>> you know, I mean,
it this serial this clearly has
um
some
connection with
Asian markets. And the risk there, you
know, as we've seen is that some of
these foreign listed securities don't
don't trade super well. They got a
picture of the New York City skyline
there, but um
Cayman-based holding company operating
in China, right? Uh through
subsidiaries. So, why do they even have
the New York skyline? I mean, what do
they do in New York, right? That's kind
of
um you know, but
what do I know? Um
so,
nevertheless,
um
let's see. Digital So, you know, I I
think at this point
I would just say that
you know, I guess just approach it with
some caution, but recognize that there
clearly seems to be some momentum behind
the name.
Um the stock has had a couple higher
volume days in the last, you know,
couple months, and it typically isn't
that exciting. So, to be honest, I don't
expect it to to work really well, but
sometimes when you don't expect it is
when it surprises you and does the best.
So, I'm going to switch this to the
5-minute chart. Oops, no, for that.
Um we're going to switch back to
5-minute, and I just want to see where
that descending line is that I drew. Um
let's see. Okay, so so we've still got a
ways to go. That was all the way up at
10. It didn't look like it was that high
to me when I first drew it, but
but if it's at $10, then that does give
us a bit of room on the daily chart. The
reason I look at that descending
resistance level is just because you can
clearly see,
you know, one tap, two taps, then it
worked it it was resistance there and
then continued lower. The 200 moving
average on this one's way up at $100 a
share. So, you know, if it catches some
momentum, but what's the catalyst that
would give it momentum?
That's kind of the issue. There's no
news behind it. So, this would be a no
news stock that essentially shorts are
going to
pretty confidently bet will not hold
these levels.
And they're probably going to be right.
But, if it does keep going higher, at a
certain point, they might have to accept
that they're they got in too early and
they got to get out. And so, a short
squeeze is a possibility, but um
I don't know. I think the challenge
right now for me, and one of the reasons
I didn't take any trades on Thursday and
Friday, is because I'm trying to focus
on trading the best setups and the best
stocks and then not touching anything
else. And so, the result was that
you know, I passed on a couple of setups
I could have traded, but I didn't really
think had that much potential.
In a colder market, sometimes you end up
feeling like, well, jeez, if I don't
trade the low quality stuff, I'm not
going to be taking any trades for days
and days. Who knows? Maybe it might even
be weeks. That's, you know, gosh, I
don't want to do that. So, you end up
lowering your quality standard,
introducing some more trades, but your
accuracy usually declines. And then you
start to feel a loss of confidence. You
take a couple bigger losses and then
eventually you say, you know what? It
actually is better just to sit tight and
wait for good quality setups.
And you know, so it's sort of this
circle that many of us talk ourselves
through or actually trade through over
the course of weeks or months.
So, right now I'm in a mindset where my
account's sitting at, you know, pretty
much all-time highs, even though I
didn't take any trades on Thursday and
Friday, I just don't feel a strong
desire to overtrade and then end up
getting myself into a jam. So, I'm
trying to be a bit more patient right
now.
Uh and you know, look, I mean, I had a
couple bigger green days, I'm sorry,
bigger red days back here as well
um in in June, three of them, which I
have so far been able to avoid in July,
but I also haven't had any big green
days. So, July biggest green day is
24,000, whereas the biggest green day in
June was, you know, 84,000.
No, so wait a second. Um now I feel like
June I feel like that's missing a day
cuz there was I I had my biggest green
day, yeah, see this
What is the issue with that? You know
what? I'm going to have to look at that
day.
Um
I think the issue actually is that for
some reason I have two tags for IRA
account. One is IRA all capital and the
other is IRA lowercase.
They should be merged. I I don't know
how to I guess I'll I can figure it out,
but anyway, it doesn't really matter.
So, I don't know why they'd even allow
you to have the two versions, but
nonetheless, uh so I would say Monday
morning um
yes, we should watch um
BIY YA and then I'm going to be watching
the top gainer scanner very closely.
Those of you guys who want to check out
a 2-week trial, uh during the trial,
you'll have access to this layout right
here, so you can have a top gainer
scanner, the small cap scanner, I mean,
you can change the layout however you'd
like, but um you'll have access to this
exact software that I'm using. These are
all the different scans that you can
pull up. Short squeeze, you know, da da
da da, top gainers, losers. Um the
simulator is included only for members
who are full-fledged members. This gives
you a chance to practice the strategy
you're learning in uh the courses, but
during your 2-week trial, you will get
access to the first six chapters of Day
Trading the Basics.
So, if you jump over to the members
dashboard and go to view courses in the
education portal, then you can go into
Day Trading the Basics right here, and
you'll have access to these first six
chapters as you go through right here.
So, uh you can check those out, and
you'll also have access to the chat
room. So, the chat room's right here.
They're offline right now, but you can
go into the small cap room right here,
and then you'll see this little button
here um is currently it says stream off.
When I'm streaming, it changes to say
stream on. I'll just turn the stream on
right now just so you can see what it
looks like. So, I'm going to click
stream,
and then this is going to change here.
Let me just make sure knock that out. Um
am I streaming to the right room? Let's
see. I might not be streaming to the
right room. I may have to change my
stream key over the weekend. Well, you
get the idea. So, if I was actually
connected um which, like I said, I think
I
Uh [sighs]
I'm going to back this out. All right.
Oh, there it goes. Um all right. So,
there I opened the room. So, you'll see
this join stream. So, click right there,
and you'll be able to join the stream,
and then you can see now you've got this
endless loop. So, that's the button to
click. Join stream. You can also see it
over here.
Right there, join stream. So, click join
stream, and then you can uh tune in
while I'm trading, and I'll be back at
it um tomorrow morning starting at 7:00
a.m. So, you can come on over, uh do the
2-week trial. During that trial, you'll
have access to the scanners, you'll have
access to the charts, and you'll have
access to my broadcast. I think you guys
will learn a ton. So, I hope to see you
guys uh in the chat room tomorrow
morning. My stream will begin at about
7:00 a.m. But, let me remind you, as
always, that trading is risky. My
results aren't typical, and there's no
guarantee you'll find success whether
you trade on your own or you learn from
me. So, please manage your risk and
practice in the simulator before putting
real money on the line. With that, I
will see you guys bright and early
tomorrow at 7:00 a.m.