Day Trading Watch List for MONDAY!

What's up everyone? All right, so in today's episode, I'm going to give you my day trading watch list for Monday morning and the game plan for the week ahead. Now, I have to say over the weekend, I've been thinking a lot about the past week and there's no doubt about it. Last week was the best week of the month and the last two weeks things have really picked back up, which is great to see. As many of you know, we have the exciting news that the pattern day trader rule is no more effective June 4th, which means we've got about a month to prepare for what will likely be a significant increase in trading volumes beginning June 4th. So, June, July, into the summer, we likely see much higher volumes than we saw last summer and that could translate to more volatility and therefore more opportunity. So, right now, as many of you guys probably imagine, is the time to get ready. So, for those of you guys who are new, study as much as you can so you know the strategy that you're going to be trading in order to capitalize on this increase in volatility. Now, for me at this point, um April is a come up a little bit shy of um expectations, but that was primarily because of um falling short on the first two weeks of the month. I was thinking about um when the last time I had a red day was and um it has been a while. I'm certainly grateful for that. If we look at my um broker statements here at at the bottom of the website, you could see um my audit report and so I at the end of each year I have my um profits um analyzed by, you know, independent uh CPA and then I publish the results here. So, the last time I had a red month, um I didn't have a red month last year. Couple close calls. I didn't have one the year before. So, the last one it looks like was March of 2023 was my last red month. Now, I've had some months that were pretty slow, um you know, bordering on break even. uh Uh, but generally speaking, because my approach is to trade volatility each day, um, although I've had red weeks, I generally I'm able to close each month at least in the green. This month I wasn't sure that was going to happen after I found myself down, you know, as of right here, uh, 70 plus thousand dollars on the month. The rest of that week was a slow recovery. Still finished the week red 7,000. The next week, no trades on Monday, slow on Tuesday, and then Wednesday 18,000, slow on Thursday, green on Friday. So, $43,000. Then last week, 21,000 on Monday, no trades Tuesday, 56,000 on Wednesday, slower on Thursday, slower on Friday, but an $88,000 week. So, now, what will we have for these next four days? My goal would be $150,000 on the month, which would have me, uh, you know, pretty similar to February and pretty similar to March, although shy of the 400,000 in January. So, I'm about $75,000 shy of my monthly kind of slow market goal, and that means I would need to be locking up a consistent $20,000 a day for the next four days. Is it possible? It's certainly possible. Um, is it likely? Well, I don't know. Probably not. Uh, it probably probably is not likely. And things were slower on Thursday and Friday. So, realistically, I don't know. May maybe I'll end up finishing the month around $100,000. I can pick up another $20,000 day somewhere in here and then a couple smaller green days. And I suppose all things considered, that would still be a pretty excellent, uh, month. So, I, you know, I always like to take a look at where I'm at year-to-date, just big picture, and then where I'm at in the last 30 days, and even in the last 7 days. So, last 7 days accuracy impressive. I mean, this is really solid. Granted, not a lot of trades, but what's been working well in the last 7 days has been focusing on the highest quality setups. We go to the last 30 days and you'll see the accuracy comes down quite a bit because that includes the bigger loss I had at the beginning of the month. So, right now focusing on high-quality setups, even if that means trading less, is definitely working. I mean, fact is, look, if you had metrics and you you didn't even look at the profit, you just had 94% accuracy and you had a profit-loss ratio of greater than 5 to 1, you would feel confident trading with bigger and bigger and bigger size on that uh strategy. And so, that's kind of where I'm at right now that, although I'm not taking a lot of trades, when I'm taking a trade, I'm taking bigger size. Now that I'm out of trader rehab, I I'm feeling comfortable to take bigger size. So, anyway, so at this point going into Monday morning, my plan really is to continue to focus on our top gainer scanner right here because this is where we've been seeing um you know, primarily the the big opportunities. It's watching that scanner and waiting for something to become obvious. So, a little bit of an issue that we have had in previous um days has been interest on lower-priced stocks. So, you see SCNI, this one um on Friday, 75 cents a share, had almost 200 million shares of volume. I wasn't interested in it. To me, it was just too cheap the whole time, but it definitely um was a bit of a distraction. A lot of trading volume. Now, INTC, Intel, also traded on high volume. No interest in that for me. I'm not to say it couldn't have been an opportunity, but that's outside my wheelhouse in terms of price and float. LIDAR, 100 million shares of volume, another pop and and sell-off. Um unfortunately, ELPW, some of the moves that we had on Friday, this popped up, pulled back, kind of ended up going sideways. This is the one that I traded. I was looking for it to finally pull away. And you know, I I don't know why I really I kind of got a little stubborn on it. I just you know, I thought it was going to work and it just it showed us pretty quickly that it was not able to pull away. This was that first um This was the double top where I thought we were going to really open up and it couldn't. Let's see. At that double top, let's just see how much volume that had. I remember I mentioned the divergence of volume of declining as it was moving higher. But by that point in the day, we were at about 14 million shares, 12 million shares of volume. We just ran into that resistance there. So, my thought is what's important right now is to keep it simple, not to overcomplicate things. And so, I'm not going to spend a lot of time going through the watch list of recent reverse splits, recent IPOs, or continuation setup because I don't think any of them are going to really work super well right now. The theme right now has been that we get the cleanest momentum on day one of fresh news. And so, what we ultimately need Monday morning is at least a few stocks that have a really good news catalyst. And that ultimately is the difference between a fantastic week and a slow week is the presence of good news catalyst. So, you know, we can be grateful or hopeful that the market and you know, these various stocks, small cap stocks will have some good news headlines ready to come out next week. If they do, then we could do really well. If not, it might end up being a slow week, which would be discouraging. But what's important is that when it's slow, you're very quick to take your foot off the gas. You don't want to be aggressive when the market's slow. You want to be aggressive when it's hot. When it's slow, you want to just sit on the sidelines and be patient. You'll notice a lot of traders they get caught in overtrading. So, when the market's hot, they're overtrading. They're making money, but then they give back quite a bit cuz they keep trading and trading and trading. And when the market's slow, they don't know how not to trade. And so, they trade a little bit of everything that's moving. And because there's not a lot of volatility, they don't end up making money. They churn, getting in, getting out, getting in, getting out. They may end up accumulating commissions, depending on the broker that they're using. And in any case, even if it's a commission-free broker, they just don't find that they have an edge because there's not a tailwind of momentum. That's what we need. And so, ultimately, tomorrow, the first thing I'm going to do when I even before I get out of bed is I'm going to pull up my scanners. I'm going to check these top gainer scanners right here on my phone. And if the top gainer is a sub $1 stock already by 6:30, 7:00 a.m. with more than 15 or 20 million shares of volume, I know that that stock is going to be a distraction. It's not the type of stock I like trading. It's going to be a distraction that could be a problem. If the leading gapper is only 20 or 30 or 40%, then that to me means that the stage is set well for a stock that could come out with news at anytime premarket to all of a sudden squeeze up 50% and be boom, number one leading gainer. And so, when we already have a stock up 100% or or more, it's hard for other stocks to take that place as number one leading gainer, but when we don't, it's easier for that to happen. Yeah, I typically find that I do the best when the stock that I like based on price and float and catalyst is also the number one leading gainer because it makes it the most obvious stock in the market. It's talked about more. It just gets more mention, it gets more attention from people, and so it gets more volume and therefore more follow better follow-through. And there's better liquidity, so I could take bigger positions. So, the top gainer scanner is number one, uh but I also watch the low float top gainer scanner. This has a 5 million share float cutoff, so it's a very low float. But, this is also helpful when I start to see a stock like this one. Has see how it has that green arrow right there? If all of a sudden I saw something like that at 7:00 or 7:38, you know, top or bottom of the hour, I might think, "Wait, this stock is suddenly popping up. It's moving up the scanner. Um does it have news that just came out? Maybe even before it hits my small cap high day momentum scanner, might only have a very very light amount of volume, but it's starting to move higher. I might pull that up and take a peek at it. Check where the company's located, country code, see if it does have a catalyst. Now, if it has the flame, I'll know it has a catalyst, but I'll just check it, see what's going on. Check the daily chart. And sometimes that gives me sort of a jump on pulling up a stock before it meets the criteria for the these scanners. Now, these scanners are searching for stocks hitting new highs, but they have specific specific filters or criteria that they're searching for just to eliminate noise. But, naturally, when you add filters, you also while you eliminate a lot of false alerts, which is important, you also sometimes um slow down how soon you get an alert on something that is actionable. And so, when you're creating scanners, there's sort of a, you know, balancing act of if I leave it totally open, I'm going to get so many alerts, I'll start ignoring the scanner because most of the alerts are not actionable. And you'd have to have a very high level of attention to jump on every single alert when you know 90%, 95% of them are are worthless. And on the other hand, if you filter it so tightly that yes, every alert is a stock that's going to be a really good move, but by the point you have the confirmation that it'll be a good move, it's already up 30, 40, 50% or more. In which case you miss the beginning of the move, and it may be hard to find an entry. So, you get to the point of maybe just seeing things in hindsight, which isn't super helpful. So, I have this tuned fairly tightly, but I do sometimes find that I'll notice a stock either on the top gainer low float top gainer or even maybe on one of the thinner running up scans the light lightly filtered running up scans before the stock will hit the scanner here. So, generally sitting down 6:45 7:00 a.m. it's looking at the top gainers and the low float top gainers and then 7:00 7:30 8:39 watching for any headlines top and bottom the hour and then going into the open what is the most obvious and will we see a gap and a go where it's gapping up and then continues higher during that opening range starting at 9:30. But as we know after the open we have halt levels, we have market orders and so you would almost expect trading to be cleaner because there's typically more volume, but because of market orders especially and stop hunting because of all you also have stop orders I find trading after the opening bell to at times be choppier and more difficult. So, in any case I'll be streaming tomorrow morning 7:00 a.m. bright and early and I encourage you guys who have not already checked out a two-week trial here at Warrior Trading to come on over and check it out. We've got two-week trial it's two weeks for 20 bucks. You can watch over my shoulder you'll have your own installation of these scanners right here so you can adjust them move the browser around of course adjust this the windows how you like set up different scans go to the toolbar right here pull up any of these scans you can set up exactly the way you like it or you can use the same layout that I use every day. These are um we've got real-time quotes here so real-time charts real-time scans breaking news and of course my live audio video broadcast and our chat rooms. So, make sure you guys check out the two-week trial and I will see you bright and early tomorrow morning. Reminder as always trading is risky easy come easy go. You've seen me take big losses. You've seen me have big wins. But, I want to remind you, as always, that my results aren't typical. So, please take it slow and practice in a simulator before putting real money on the line. All right, with that, I'll see you guys bright and early tomorrow morning.