Warrior Trading Blog

Double My Daily Goal +$5K on LEDS! | Ross’ Trade Recap

Ross_8.21

What’s up everyone? All right. So I’m going to finish the day here up $5,100. A solid green day. It is, thanks to LEDS. So some great opportunities on that stock. Feeling good about another solid day in the market. The last week or so, we’ve seen some really good opportunities with UMA, DPW, CETX. Can’t remember what we had on Monday, but… Oh no, that was UMA. Anyways PSTV on Friday. We’ve seen some good stuff, which has been awesome. So momentum is definitely picking back out, which means it’s a great time to study up.

I encourage you guys to register for Day Trade 101. The link is below. You guys can check it out. It’s a new class. It’s totally free. Three chapters. Get into it. Learn as much as you can because this is a time where we got some volatility, and it’s time to capitalize on it.

See you guys first thing tomorrow morning for the Pre-market Analysis around 9:15.

All right, everyone. So we’re going to do the Midday Market Recap here today. I’m going to finish up $2,903 in my main account, plus another $2,197 in my retirement account, which is over $5,000 on the day. Not bad at all. I added a little bit of extra profit on this last break on LEDS of 85. Right here. And then adding for the break of $4.00. Selling up here at $4.05, and then I aggressively added back at $4.05 for the break of $4.10 thinking we would continue and stopped out at 95. But this right now is a great example of why you keep your stops. Because if I was still holding this right now with 6,000 shares, well I’d be down over $3,000. So you got to throw in the towel when it doesn’t work, break out or bail out.

Today, accuracy on point. I had a total of… Well, I think three losses, and I actually traded more times than I can count because I was so active on LEDS. So total shares traded here, 17,018 trades in my main account. And then in this account, I traded 82,000 shares and 70 trades. So that’s probably my average trade was about 9,000 shares. So it’s about 10 trades and each trade being usually three buy orders of 3000 shares. So one, two, three and then sell half, sell half, sell half. So like six tickets, seven tickets for each trade. I mean, it adds up for sure. But that’s how I trade. It’s breakout trading and getting in, getting out, taking a profit. And so there is to extent churning some shares but that’s just part of the strategy, and I’m okay with that.

So anyways, really nice action here. And let’s kind of start from the beginning of the morning. What led me to this $5,000 green day? And this is we’ve been on a nice little hot streak here for the last week or so. I think we started Friday, was it last Friday? No, it was Thursday and Friday. I made $6000 on Monday morning. I made another $4,700 before I ended up coming back in the afternoon and taking some FOMO trades. Yesterday made $1000, and now today up $5,000. And I am not going to do any FOMO trades this afternoon. I am not even going to look at the charts after I finish this recap. I am just going to say it was a good day, and I’ll be back tomorrow. And I’ll try to make it another solid green day.

So the gap scan this morning, leaving gap or here timeframe, historical date… Oh, I already did that. Leading gapper was MYO, but I wasn’t interested in MYO because it’s too cheap. This is just a cheap stock, and I just don’t care much for it. So no interest in this one.

Next one down, JAGX. Now JAGX technically meets our criteria. The five point criteria for being a stock worth trading. It’s got the price between $1.00 and 10, 30% gap, less than a million share float, 3 million shares of pre-market volume, and it had news. However, what I didn’t like about it, there were two things. One, the stock had hit a pre-market high of $2.60 and was already fading back down. So I said, “If it can break the level of this high right here…” I sort of been looking at this as a pivot. They’re stepping down. So if it can break that level, then we’re going to be starting to trend up, and maybe we will retest the highs. We’ve certainly seen that type of thing happened before, but if it can’t break this level, I’m not interested. It did not break that level.

And so I never took a trade on it. But I also didn’t really think it would break that level because it’s a cheaper stock with already three million shares of volume. I just didn’t think it was likely the bell would ring, and it would squeeze up 25-30%. it just felt it’s a little too cheap, a little too thickly traded, and is already shown quite a bit of weakness. So that one I said is a maybe, and I’ll keep it on watch, which means I’ll just put it in my level two like that and watch it. But not seriously interested. So I put it down here actually.

So then next one down was LEDS. LEDS I looked at and I said, “This one is a little tricky,” because it does have a nice pre-market chart. Pre-market high is $2.87. so it looks good. It’s got news, and the news is interesting. It’s disclosing that they’ve received an offer from an individual investor in China to buy 680,000 shares of the company stock at $3.00 a share. So they’re going to have a board meeting I guess on August 30th at 5:00 PM to discuss that offer. So it haven’t been accepted yet. And, it’s I guess unclear, to me at least, to how the offer would be, how the purchase would be structure or anything like that. It’s probably open to negotiation like anything else.

So in any case, you’ve got someone here now putting up a buy, a bid for 680,000 shares at $3.00. And so that kind of psychologically puts in the floor of this stock because there’s someone else out there that thinks it’s worth that at at a huge dollar amount, at one point $8 million. So I looked at that and thought, “Okay, that’s an interesting headline. And I like it for a break of of $2.90.”.

So the bell rings and it squeezes up. And I jumped in at $2.90 and I added $3.00. And it squeezes up to $3.25 for a nice winner. It then pulls back here for a second. And let’s go to the one minute chart. It gives us a one minute pull back right here, which I traded, and it gives us a move here up to 25, up to 30, then it pulls back here. It gives a little scalp here at 38. I was cautious, and I did not take this trade because I felt the five minute was a little too extended at that time. That was like right here and I was like, “Ah, I don’t know. It’s a little extended.” At this point, I had already made $3,000 of profit on the trade. So I was like I made some good profit in this area here. I don’t know, I don’t want to give back profit. I’ve got to be really careful.

But it ends up holding this level and giving some really nice dip opportunities right here, right here, and then this nice break here. And I just kept trading basically each one of these pullbacks here, here. I think I traded this one in, lost. Small loss. Got back in here. That worked. I then got back in right here. That worked, but added up here a little too high and gave back some profit.

So I was very active on this one, took a lot of trades, and I feel pretty good about the total profits. $1,500 plus that. So $39-, $40-, $4,400 on that one stuff. That’s a terrific day. So that’s LEDS. Right off the watch list and you guys knew I was going to be a buyer for the break $2.70 or $2.80, $2.93 because we were talking about it pre-market. So I feel good about that one.

EARS, I was a little disappointing. This one hit the high day momo scanner, and as soon as it hit, I pulled it up and saw it had just squeezed up a lot. And so I jumped right in for the break of $3.00. at $2.90 and added at $3.00. It broke $3.00 and hit a high of $3.10 then started to come back down. I hit the bid, took some profit, held the rest through this consolidation, and then sold the rest down here. So I did make money on it and that’s because I was being a little aggressive on share size and that’s of course because I was up so much on LEDS.

And it’s a really good example of how when you get yourself in the driver’s seat on the day, you can afford to be a little more aggressive, take a little bit more risk. And then sometimes with 6,000 shares, you can grab $0.10 of profit and on a trade that you wouldn’t have taken if you’d been maybe red on the day or only up a little bit.

PSTV is the only one that I saw today that I hesitated on. It squeezed up. It got halted. Opened a little higher, pulled back, and right in here at nine, I was watching it. And I just felt like the spreads were big. It didn’t have a fresh catalyst, and the risk was too high. So I just said, “You know what, I’m going to just play it safe. It’s a little more expensive. I can get into trouble on it, and I’m going to leave it alone.” So that one I left alone, and I guess I ended up missing an opportunity here on this scalp. It went into a circuit breaker halt at $10.13. Opened a little bit but it basically flat. Popped up for a second and then sold off. So not the most impressive move.

But anyways, right now just trying to really have some solid back to back green days. I would love to finish off this week with two more green days on Thursday and Friday. So yeah, I’m going to try and make it happen.

All right, so that’s it for me. I’ll see you guys back here tomorrow morning, 9:15 Pre-Market Analysis. Hopefully we have some good stocks on the scanner, and we can find our way to a some profit. All right. See you guys tomorrow morning.

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