Day Trading the Top 2 Leading % Gainers in the Market

What's up, everyone? All right, so in today's episode, I'm going to break down my trades from the morning. I almost thought today was going to be a no trade day. I was very patient. We had a couple stocks that did make some decent moves. And for one of them, I actually sat on the sidelines for pretty much the entire move, and then got in a little bit later after it sold off and then it was curling back up for a break of VWAP setup. That was decent. Then, I had another stock that was on my watchlist start to move. Ends up going up 50%, 60%, 70%. Again, I'm sitting on the sidelines. I was sort of hesitating, you know. We'll jump on the screen share so you can look at it. The second one was CPIX. It's a stock that is easy to borrow, has a 9.1 million share float. You know, I just wasn't sure about it. And so, you know, in total, I did pick up some profit today sitting at $8,426.92. But, it was nearly a no trade day, and I wouldn't say any of these trades worked out really well. I did trade with bigger size today as I did yesterday now that I'm out of trader rehab. Thank goodness for that. Graduated from trader rehab. I don't know if you call it graduating from rehab, but uh I'm out of rehab and now I'm able to trade with bigger size, but I still have to be responsible and not get myself into another jam. Otherwise, I'm going right back into rehab and I'm going to have to put the guardrails back on. So, I'll do another episode where I talk about my process with trader rehab and uh I I actually have a full-length course on it in the Warrior Pro curriculum because it is such an important um process for me and really for any trader because, you know, I look, I mean, here's the deal. We know that when it comes to trading, there's there's no trader that just is green every single day. I mean, the only people that are green every single day and never have drawdowns are probably like, you know, the brokers, right? They can make commission every day or the maybe the market makers. But um but for the rest of us, real retail traders, uh you know, trading is kind of this, you know, roller coaster. And so, I recently just had this drawdown. And so, I had to put on the guardrails and because of course what I didn't want to have happen was I didn't want to give back everything I had made during that last hot streak. But that's exactly what happened to me and that's what trading was like when I first got started. Progress, give it all back. Progress, give it all back. Progress, give it all back. Now, that was my equity curve. You want to know what my account balance looked like? Started here and was going down. Because I mean, it wasn't exactly like that. But, you know, over the long course, it was going down because I was taking money out of my account to pay bills. So, each time I had a, you know, a profit, my balance didn't really go up. I was taking the money out to pay bills. And then I'd have a drawdown and I would lose. And then I'd have, you know, profit and I'd take the money out to pay bills and then a drawdown and I lose. And so on and so forth. So, eventually I get to a point where, you know, I need to either I need to stop losing or I need to add more money to my account. So, the concept for me of Trader Rehab is has been really significant in my ability to stop doing that and start doing, you know, more like this where yes, I have drawdowns, but I can recover from them much more quickly. So, in any event, um I did trade with slightly bigger size today. Um but the first trade was AUD, which is the leading gapper right now. Oh, gosh, look at that squeeze. Ugh, it's a little annoying. Uh so, from 650 up to 10 at the open, I didn't trade that. Uh in fact, I didn't trade it at all until this little window right here. I sat on the sidelines during this whole move. So, we're going to look at the 1-minute chart and I'll walk you through what my process was there. So, first of all, uh uh this came out with news at 6:20. So, it's a little bit earlier in the morning. All right. So, I missed that first move, this pop, this pop, and I didn't sit down until 7:00 a.m., which is way up here. All right. So, at that point, I'm sitting down at 7:00, and what am What am I observing? Three topping tail candles in a row. In fact, four. Topping tail, topping tail, topping tail, topping tail. Those show us weakness, because even though the stock popped up, it gets pulled back down. So, I didn't feel comfortable getting in right here because I was worried about a rejection candle, and I didn't want to start the day with a loss. And I kind of felt like this has already made a big move. Excuse me. It already had first pullback, second pullback. It's continued so much higher. Uh at this point, maybe I should just I just have to wait for a new setup. So, it starts to pull back a little bit. Then it comes back up here, but with this candle being such high volume, sorry, that one right there, that green one, I wonder if that was going to be the high of day. The next candle is a shooting star, a strong reversal. And so, here I kind of expected I didn't expect it would really bounce, but when it started to bounce, I thought probably double top. Then it sells off, comes back up again, and I was kind of right here thinking, maybe. But, the volume was so much higher there than it was here, and the MACD was negative. I said, "You know what? I just don't think it's the one. I'm going to wait." So, I waited. Sells off, then it pops up here, rejects hard, goes lower. And then right here, this was where we popped back over the VWAP, and that was the one trade that I got. And it wasn't even that big of a move. I made $6,500 on it, which was decent, but it wasn't really that impressive. So, let me show you that trade on the 10-second chart. So, on the 10-second chart here, this popped up uh to 7:20, and I got in right there for the break of VWAP. So, that was my entry right there for the break of VWAP, and we go from 7:20 up to 7:50. We pull back, I take profit, goes up to a high of 760, it dips, and then I was watching here to get back in. I wasn't sure, didn't get back in. Um and then right about where was it? Here, it flushes, and I bought the dip down here, and then sold as it popped back up to seven. So, the first trade was $5,000 of profit right in here, and then the second trade was about $1,500 of profit with that bounce off of the big sell-off. And then, yeah, coming into the open, I I didn't think anything of it. I didn't think it was going to work. Uh especially after that big rejection. So, I'm really surprised that it worked that well. Goes up to a halt at 790, then dips and rips into a second halt, then goes all the way up here to a high of 1020, and then halts going back down. Wow. All right. Well, I guess I left a little money on the table on this one, but um it's all right. I'm green. I should be grateful for that. And um you know, within the time frame that I typically do the best, it didn't give us a huge move. All right. So, that was that those couple trades on AUUD uh two trades on it. Yeah, two trades on it. Both of them were winners. So, solid accuracy, small winners though, relatively. All right. So, then I'm sitting tight, and CPIX hits the scanners. Hits the scanners, I pull up the level two, and I observe that it is easy to borrow, as you can see right here. So, I see easy to borrow, and I think, "Hm, all right. We've seen some others that are easy to borrow." It's a pharmaceutical company, it's a US company, and they've got a headline here about announcing a strategic strategic transaction to integrate commercial business with APOTEX, whatever that is. Um so, you know, I'm kind of like, "All right. Um cash consideration $100 million, da da da." I'm not totally sure exactly, you know, what this means, and sometimes these headlines can be a little difficult to interpret. And so, what ends up happening on this is that it spikes here almost instantly. It's it it didn't even this is interesting. It didn't even trade at 330, 340, or 350. It basically just started trading at four and goes straight to 510, but then comes all the way back down. Bounces back up, pulls back, comes back up. Right here I was watching it for a break through five. Hands on the buy button. I almost punched it, but I wasn't totally confident. It felt a little heavy. Being easy to borrow, I said, "You know what? I don't have that big of a cushion here. I think I'm just going to wait." So it ends up going from about 490 up to 515, double tops 520. And I thought, "Well, I could have just grabbed 15 cents there, but all right, whatever." Then it comes back up again and I almost got in right there and again I was like, "Well, topping tail, topping tail. We're 910, we're getting a little closer to the open. I don't know." It ends up squeezing up to 550. Pulls back, watching it right here for a dip. I'm like, "Mhm, not sure." Goes to 570. Pulls back right here and I'm like, "I can't get in here. I've just been sitting on the sidelines too long." So then it drops back down right here. And as you could see, we end up getting this squeeze. So I decided to get in right here and I was looking for the break through the high and at this point we kind of pulled back, we'd reset a little bit, and so I was like, "All right, let's see if this works." So I got in here for the squeeze through the high and we go up to six and I take some profit, sells off. Then it pops back up, I get back in thinking that this is like first pull back. I give back a little of the profit. Then it comes back up and I tried one more time here thinking maybe this is just going to, you know, it just needs to and it didn't and so I ended up giving back a little bit of profit on it. Um but I'm green nonetheless. Now at the open, it pops up, sells off, ends up halting, then opening and yeah, so this one was not clean at the open. AUD was. Not really sure the rhyme or reason on that exactly, uh but at the end of the day, I'm going to sit here with $8,400 of profit. Um you know, not not the best day, obviously, um of the week um since I was up 21,000 on Monday and 56,000 um yesterday. But I had a no-trade day on Tuesday, and I really thought um today was potentially going to also be a no-trade day. So, you know, compared to a no-trade day, I'm uh you know, I'm yeah, I'm grateful to be green. This is a little bit more progress, and and I kind of need it considering this month has been you know, pretty darn near I guess you could say a disaster. I mean, I don't know, maybe that's exaggerating a little bit, but um you know, I got off to a really uh rocky start at the beginning of April, as you can see right here. So, um I just you know, coulda woulda shoulda walked away sooner, da da da da, but didn't, and so went down 57,000 there on the 2nd, lost another 20 grand there, and then spent these 2 weeks just the rest of these days here just trading, grinding small numbers. It wasn't till last Friday, well, last Wednesday, we had bird. Then Friday, we had another big move. We had a big move on Thursday, but I didn't trade it well. So, last week ended up being decent with $43,000. Now, let me go do the import on my trades from yesterday, and then we can refresh this. So, this is my IRA account, trading retirement account, which is great. That means the income is tax-free, which is wonderful. All right, so let's go back to the calendar. All right, so this is going to be here now, the month of April. All right, so that's better, 56,000. So, now green nicely on the month, 61,000. Uh so, definitely moving back in the right direction. Uh so, with today's gains this week is going to be about $85,000 and we'll see what tomorrow holds for us. Maybe there'll be some more opportunities. Um, now for those of you guys that didn't check out my episode that I uploaded yesterday on the micro pullback, I'm going to put a link to it here at the end of today's uh, recap. I encourage you to check it out. It's a It's a solid training walking you through how to approach that micro pullback setup, which you'll see me trading pretty much every day. So, reminders always, trading is risky. My results aren't typical. Manage your risk and always practice a simulator before you put real money on the line. I'll be back at it first thing streaming at 7:00 a.m. tomorrow morning for members at Warrior Trading.