Warrior Trading Blog

Finishing The Week +$31k As I Bounced Back On Friday +$10k

bounced back

Finishing The Week +$31k As I Bounced Back On Friday +$10k

All right, everyone. So, we’re gonna do our midday market recap. This is on the early side but I said today I would just come in, try to trade for the first hour and not push my luck too much, since it’s the last day before a long weekend. You can see, even in the chat room the number of traders online this morning is down by probably 20%. A lot of traders aren’t even here today. They’re traveling for the long weekend or they’ve already left early.

Not surprising there that the market is going to be a little slower as we get further into the day with more and more traders just checking out. It’s one of those things where you wanna go into the long weekend and the holiday weekend feeling good, so you don’t really wanna trade all the way up to 4 PM and risk that you do something where you make a mistake and then you gotta spend the rest of the morning or afternoon trying to make it back.

I’m throwing in the towel here today, kind of an unexpected day of redemption. I really didn’t have a lot that I was crazy about off our watch list. This morning we are watching two stocks, DCIX. This one we are watching because it was gapping up premarket. I got in this as soon as the bell rang at, let’s see, it was right around $5.80. I’ll show you the orders in a second. Or $5.70 and I stopped out at $5.50. I lost almost 2,000 bucks on my very first trade, right out of the gates, which is not what I wanted to do. So this was the first one on the watch list, didn’t play out very well. The second one was PETZ. This one played out very nicely, on a squeeze here from $8 all the way up to $11.

So, thanks to that trade I’m finishing the morning up $10,920.88. So, 9,000 on PETZ minus 1,200 on DCIX plus 77 on NURO, and made 3,000 on SGLB. Those are my transfer for the day. So it puts me up $31,000 this week, made $33,000 last week, 11,000 the week before, so we’re sitting here in really good shape on the month. I’ll show you my December challenge doc. So, this is where we stand. Quick bounceback from yesterday. This has just been a pretty strong week, except for one red day, for the most part it’s been strong. So, good days have been anywhere from five, six, to $15,000. So, today, a $10,000 day, not bad at all. Very happy with that.

[John 00:03:09] continuing with really good consistency this week. He’s up $24,000, this week! So, up 40 grand on the month. [Mike 00:03:12] is up 24,000 so we’ve first, second, third place here on the challenge, and [John E 00:03:18] doing really well, breaking over 10,000 here as we kind of come up to the finish line, which is four days left this week. A couple of our other students making their money doing the best they can. [Dean 00:03:30] trying to get himself back on the wagon here after a snowball day breaking all the rules. We know what that’s like, so he’s working on getting himself refocused, which is good. No trades yesterday, didn’t see anything he liked, so we’ll see what he does today.

And a couple of others bringing up the rear, but that’s okay. That’s part of the deal. [Sam 00:03:49], he did really, really well last month, but I think at the beginning of this month he closed out some losses on options positions that expired. I guess since then he hasn’t seen a lot of good quality trades. Same with [Jeff 00:04:08], not a lot of good quality trades for the swing trades this month, and that’s just the way it is sometimes. It’s the ebb and flow of the market.

So, anyways, we’ll look here at my trades from the morning. So, very first trade was on DCIX, 7,500 shares in at $5.70 stopping out at $5.50 and $5.35. Basically lost 1,800 bucks on it right away. So, it was a disappointing start, and then PETZ started squeezing up so I got in that with 7,500 shares and I added 2,500 at 1,030, which gave me 10,000 shares at $9.30. I sold half at 1,011. At this point on the ask I was up like $16,000, 17,000. I sold half, blocked up 9,000 in profit, and then I pretty much ended up selling the rest of it back down closer to my entry. Down here at 35, 73, and 29, which was kind of disappointing that it didn’t hold up as well as I wanted it to, but it’s just the way it goes sometimes.

So, that was PETZ, really nice trade there on this squeeze right out of the gates. Breaking premarket highs the catalyst was earnings. They had earnings out last night, or this morning. So, 880 was premarket highs. As soon as that broke I was jumping in, and boom, we got that squeeze hitting the scanners. I think this might have been a little bit stronger if it had the float listed in trade ideas. Because the fact here that the float’s not listed it didn’t show up on our typical high day Momo scanner, and a lot of traders are using these scanners to find stock. So I think the fact that it didn’t have the float probably made it so a lot of traders just didn’t even see it. So, less buyers and maybe not as much of a sustained move. So, anyways, that was PETZ. I got back in DCIX at 75. On that one I thought it was going to break over the premarket high right here as it was surging back up. We tapped 94, couldn’t hold that level. I stopped out with a small win.

Next trade was NURO. 5,000 shares at $1.99 and $2.01. Stopped it back out at $1.99, it couldn’t hold up. Then the last one was SGLB. SGLB, this one hits our scanner, starts popping up and as soon as it hit the scanners someone typed in the room this one has news. So, I was like, okay. I had news that came out this morning, so I jumped in it with 1,075 shares at $2.43 right before it was halted. Two orders for 5,000 shares total but I only filled a thousand. And that’s because the stock got halted and stopped trading.

I then took a small trade on PETZ, in at 895, and then stopping out at whatever, $8.99 and $8.92, small trade there. I think I … I don’t know, didn’t even make money, really. So then SGLB resumes from the halt, and I added at 275 and added again, sold at 299 and then added at $2.95 and $2.80, and then was selling at $3.09 and $3.10. So on this one I was trading it quite a bit.

You can see trying to put orders to sell on the ask and having to cancel them because they weren’t getting filled. So I cancel the order, I place a new one. 13, 12, 13, 09, trying to get out on the ask to try to get the best price. 12, 99, 12, finally selling on the bid at 93. Putting an order on the ask at 39, selling 299 shares, trying at 40, no fill, 29, no fill. Selling on the bid at 311, selling again 3. Then adding back at 334. This is at it was squeezing up here. We have this little consolidation under 3, the popup. Pullback, adding back in $3.34, $3.48, selling at $3.56 and $3.50. And then finally getting back in at $3.50, and $3.50 and selling at $3.54, $3.57, $3.55, and $3.47 for $3,000 profit.

So, not a bad day. A little choppy on DCIX, the first trade out of the gates, but made it back on PETZ and SGLB. So, I wasn’t expecting that I would bounce all the way back here today. I just didn’t know what to think. One of the things that we were aware of today is that cryptocurrency markets were down as much as 30% this morning. That’s a really significant drop. Right now Bitcoin is down 14% so it’s recovering, it’s bouncing back a little bit, which is good.

That’s kind of where we’re at with the cryptocurrency, and that weighs on the market because we’re seeing basically, in the last week we’ve seen a lot of followthrough on cryptomania and now today those stocks really weren’t in play. So we knew we had to look for something else. I think that’s kind of why we had DCIX and GLBS popping up. It was just something else to trade. So, anyways, we’ll see what cryptocurrency markets look like over the weekend and next week, and maybe things will bounce back up there and we’ll start seeing more of that cryptomania in small caps, but it’s, I guess something that we’ll just wait and see.

So, anyways, finishing the week here in good shape. It’s always nice to have a winner going into the weekend, but even on the weeks and months where I’ve finished the week red, finished the month red, and had a loss right before a long weekend, whatever it is, it just, again, inspires me, because I know just as quickly as I lost that money I could have made that money if I was on the other side of the trade, and that’s what I love about the market. There’s so much opportunity, there’s always hope. So, for those of you that are finishing the day in the red, you’re not happy with where you’re at, spend some time this weekend studying, and when you come back on Tuesday morning you’ll be better equipped to trade and hopefully we’ll see some good opportunities so you can start making some money.

So, anyways, that’s about it for me here this morning. I hope you guys all have a really nice weekend and just enjoy, take a break, get some rest, and we’ll be back here first thing on Tuesday morning. All right, so I’ll see you all back here 9 AM Tuesday for our premarket analysis. All right, I’ll see you guys then.

Oh, hey, I didn’t see you there. I was just working on the dream board for my next home run trade, hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.