Warrior Trading Blog

7th Green Day +$400! | Ross’ Trade Recap

Ross_5.9

What’s up, everyone? All right, so today is, I don’t know, the seventh or eighth consecutive green day. I’m up $400 which is awesome. I didn’t quite hit my $2,000 daily goal, but it’s another green day. In the last week I’ve made just about $50,000 which is a good reminder that it’s okay if you don’t hit your daily goal every single day because when the market is hot and you put the pedal to the metal, you’re going to have a day that far exceeds your daily goal and it definitely will make up for the slow day. So last Friday was a slow day, only made $160. Today is kind of a slow day. I’m only up $400. But it’s been a great week and we’ll see what happens tomorrow. We’ll make it a hot stock. My plan is going to be to watch that high of day momentum scanner really closely and as soon as I see something on there that looks right, I’m going to jump on.

So right now it’s kind of about being patient, sitting, waiting for that good quality setup and then attacking it with some share size. So that’s the game plan here. $50,000 just about in the first week of May. We still got three weeks left. So I think this is going to be a great month. Enjoy the recap. As always, questions, comments, leave them below. I’ll come back and answer them this afternoon and I’ll see you guys all first thing tomorrow morning.

All right, everyone. So we’re going to do our midday market recap here. Go over the trades from this morning. Now, wait a second. How do I possibly have 100 shares of TBLT? That’s ridiculous. I don’t even know how that happened. Well, guess that’s an extra 10 bucks. That’s weird. In any case. Yeah. So today’s kind of a slow day. Up 400 now, $11.38. Not quite the daily goal, but today’s one of those days where we didn’t have a ton of momentum. So I’m fine with just having a little bit of profit and get back at it first thing tomorrow. The first trade I took today was on TBLT and on this one I jumped in for what I thought was going to be a little red to green move. If I pull this back to a ten-second chart, you’ll see that we had this kind of like brief little pullback. Where was it? Go back to the open. Right here.

So the bell rings and it sells off and right here as it curled back up, I went ahead and jumped in. On this one, I went in with 15,000 shares. So I stepped up to the plate, took a pretty good sized position on it, 25, 26, 26, 26. I was expecting an immediate break over the high of day and when it hit only 31 and then started to pull back, right away I knew that that was not good and I needed to get out. So I got back out with 15,000 shares with an $84 loss, which is not bad at all. I mean, one penny loss would have been $150. So I lost less than a penny per share. So kept the loss really tight. It ends up dropping down as you can see here. Just in the last 10, 15 minutes, it’s curled back up. But I guess I accidentally bought 100 shares. I’m not sure if it was when I was moving this window around. I must have just tapped that buy button.

But in any case, it’s not been the easiest to trade. The reason I took 15,000 shares was because I genuinely didn’t expect that it was going to do anything more than give me at best five to maybe 10 cents of profit per share and the only way to really make good money with five, 10 cents to take 10, 15,000 shares. So that’s what I did but it didn’t end up giving me that break out when I expected it. So that was our leading gapper this morning, up 40% pre-market. It now has 13 million shares of volume, 9 million share float with news.

ABIO was also on our gap scan up about just under 10% pre-market. I did take one trade on this one, which was a little scalp here. It ended up being a pretty high risk trade. I got in at 17.32 as it broke the high right here. I was thinking it’s breaking the VWAP. If we retest 7.50, we should get to 18 then back to pre-market highs. It hit a high of 17.60 and then dropped down to 16.56. Well, I ended up selling it at 17.50 because, again, kind of like TBLT, I was expecting pretty immediate resolution and significant resolution. I was expecting that we would see at least a 30, 40, 50 cent move on this type of high of day break and the break of the VWAP. When we didn’t get it, I immediately switched my gears and said I got to get out of this. This isn’t working. This isn’t doing what I thought it was going to do and so I ended up bailing out.

So I got out quickly. Now it ends up dropping down. In fact, today it’s shown more volatility or more room to the downside than the upside. But of course, no shares available to borrow ABIO at Lightspeed. So in any case, only two trades today. That last trade on TBLT doesn’t really count. So two trades today, $411 of profit. Not quite hitting my $2,000 daily goal. But at this point, I’m in really good shape on the month. Again, Monday was $16,000 green day. Tuesday, 3,000. Wednesday, 8,000. Today, 400, all right. So today is a little bit of a day where I’m stepping back a little bit. But this is kind of, I think right now is just sort of like a day of rest, a day of sitting tight.

I was waiting for something to hit this scanner right here, looking for the massive volume, low float alert with a stock with a float of less than a million shares because that’s what gave us a big move on ABIO, BLIN, couple others, EARS, a few others last week. So I was looking for that and today we didn’t get it. Now, SHIP hit the scanner right at 9:30 but as soon as I pulled it up I was like, “No, I’m not going to trade this. It’s a gap down reversal.” Stock gapping down overnight. It’s very weak. I’m not going to try to trade that to the upside. So nothing on that one.

RHE, yeah, I see that daily setup. I’m not sure what the float is on that one. Let me just check, RHE, 1.48 million shares. So pretty low float. Looks better over 3.70 and $4. Anyways, TBLT hits. That’s got a higher float so that was no good, small scalps, whatever, but not big, big potential. EARS, 1.5 million share float. I pulled it up and I was really waiting for it to hit the scanner with massive volume so I hesitated and it ended up giving back the gains. So no trades on that one. MYOS, the float is 5 million shares. So I didn’t want to jump on it right away. It didn’t look like it was about to get halted. I sat tight, ended up failing. Now, at this point we’re getting close to 10:00 AM. Several stocks have hit and failed.

TRVI, low float but the high volume, not the massive volume scanner. So I was like, “Okay, let me pull it up. Let me look at it.” I looked at it and I realize it was a recent IPO stock, so I was like, “Okay, well, that’s possible. The last two days were bright red though. Let’s see if he can break over $9. I’ll think I just need to wait a second on it. Not really, totally sure. It doesn’t have enough volume yet.” Not enough to hit the massive volume scan and then it ended up not hitting the scanners again so and that’s it. So my goal of trying to trade off the scanners today didn’t result in any big moves and so that’s fine. Just kind of a slow day.

But hey, $400, it’s a green day. Live to trade another day. We’ll be back at it here tomorrow. Try to finish up the week, Friday, with some more green trades and hopefully we see some good momentum. We see stocks start to open up. But if we don’t, that’s okay. I can always kind of revisit the momentum and try to hit some good trades early next week. Fridays are kind of hit or miss. They’re either home runs or they’re kind of just flat. Last Friday ended up being kind of flat for me. But again, it really depends on what hits the scanners. We’ve had a pretty amazing week here, so I’m sitting up just under 50 grand on the month of May is terrific. We still have a full three weeks left in the month.

So a couple more stocks like ABIO, BLIN, it’s going to really do wonders for the P&L this month. So anyways, I’m going to try to be aggressive, but I’m going to be patient and selective about what I’m aggressive on. So I got to sit, be patient, wait for that set up to hit the scanner and then I’ll jump in with 10, 15,000 shares. But until I see that stock hit the scanner, I’m going to be a little more conservative. Gap and go on TBLT, I was thinking maybe it would give me $1,000 of profit, which would help me build a cushion. But that wasn’t the case. Now, I said tomorrow is Friday, which is correct because today is Thursday.

All right. So now that we’re all synced up on the correct day of the week, I’m going to let you guys go enjoy the rest of the day and I will see you tomorrow morning, Friday morning. All right. See you guys in the morning. If you’re still watching, you must’ve really enjoyed that video. So why not subscribe and get email alerts anytime I upload new content? Remember, when you subscribe, you become a member of the Warrior Trading family.