Warrior Trading Blog

Keeping My Head Above Water +$142 | Ross’ Trade Recap


What’s up everyone? All right, so here we are, Wednesday morning. I’m going to finish the day up only $142, basically a breakeven day. After yesterday’s red day, I was really hoping to have a nice solid green day today where I at least hit my daily goal of $2,000. Didn’t happen. First trade, out of  the gates, I went red down $1,600 and then I ended up sort of digging my way out of the hole, three small green trades but only got me back to basically breakeven on the day, $142. So that’s the way it goes. Survive until you thrive. Keep your head above water. Today I was actually underwater almost the whole morning until the very end where I finally got a little bit of my head above water, $142. That’s all right. I’ll be back at first thing tomorrow.

Remember guys to subscribe to the channel so you get alerts when I go live every morning, 9:15 for pre-market analysis. That’s when I’m going to break down the watch list as I go through and try to find what’s going to be hot, what’s going to be the hot stock to trade. So hopefully tomorrow we have something on the scans that looks really good and that might give me my daily goal, I hope. We’ll see what happens. All right, so as always, questions, comments, leave them below and I’ll see you guys first thing tomorrow morning.

All right, everyone. So we’re going to do a midday market recap here. I stuck around a little longer today. Didn’t really do a whole lot. I’m going to finish the day up $142.45, which you know what? It’s better than a red day. It’s pretty much for me a breakeven day considering my daily goal is 2,000. But I was able to dig myself out of the hole. My first trade of the day was on ASCMA. Went down $1,600 and then kind of started getting out one trade at a time. I wasn’t really trying to get all the way out of the hole. Sometimes when I’m red, I’ll just tell myself, “Well, let’s keep looking for opportunities.” Hey, if I can cut the loss in half, that’s a great day, cutting the loss in half. Now I don’t do that if I’m down more than two grand. At that point I’m just like, “It’s a bad day and I’m done.”

So here, my first trade was TAIT and when I was kind of digging myself out. So a little bit of progress, $300. I was like, “Okay, down only about 1,200 on the day, keep looking for stuff. OBLN, another little trade there, $500. Okay, now I’m down 600 on the day or whatever it was. Then the last one was SPEX and then I was actually up 142 on the day and at that point I was like, “Okay, well, I actually did better than I thought I would digging myself out. I’m going to throw in the towel here at this point and call it a day.” So let’s look at the gap scanner from this morning and kind of how today unfolded.

I’m going to go to timeframe historical, I’m going to actually change this to 9:25 AM. This was the gap scanner this morning. OBLN, leading gapper, up 150%, 96 cents stock. So little on the cheaper side. The bell rang and actually this thing pretty much just … It popped up for a second and then sold off and sat here at 90 cents for awhile. All of a sudden at, what was this, 10:51, it popped up and got halted on a circuit breaker. I jumped in it at $1.05. As it squeezed up, I saw it squeezing, jumped right in because as soon as I pulled it up, OBLN, oops, OBLN, as soon as I pulled it up I could see that it was about to get halted. That LULD is the halt level, feature of Lightspeed and also CMEG.

So I knew it was about to get halted and I went ahead and jumped right in knowing that typically when stocks at this price range halt, right around the whole dollar they halt, they resume, they squeeze up a second time, they often halt twice in a row, sometimes three times in a row. This was 17 million shares of volume and now 31 million shares of volume. Resumed and squeezed up to $1.18 and so right in here I sold all but 750 shares of my position. So booked my profit there. I added back at $1.25 for this little breakout, it ended up popping up to $1.34 but not before first dipping down to $1.17. I stopped out and then it ran without me. So then I was like, “Oh man, well that’s annoying.”

I got back in right here for the break over $1.35 and I stopped at a second time. So I actually was up about 600 on OBLN and gave back a little bit on this little drop and this little drop and then it came back up, looked like it was going to break a second time. No, another false breakout, it drops. So I actually bought 1,000 shares for that breakout and lost 50 bucks. Then it goes and squeezes up to $1.45. So sometimes you can have the right idea, but the timing is a little off and told I’m only going to be up about $479 on OBLN. So this was the one that started to get me out of the hole.

The first one, ASCMA, five ticker, five characters symbol, second leading gapper. I was a little hesitant on it. I wasn’t sure this was really going to work, but when the bell rang, it dipped down and then it started to squeeze up. So I jumped on the momentum here. It hit a high of 75. I got in, my average was, I think it was 65 right around there. So I sort of jumped in as it was squeezing up, buying on the pullback, the one minute micro pullback and then adding up here at 70, thinking if it broke over 75 we might get a move up to 80, maybe 90, maybe higher. Didn’t happen. This thing, it hit a high of 76 and then dropped all the way back down here to 55 and I ended up stopping out for a loss.

On this one I think I had 12,000 shares. So I was being … I thought, I was like, “Oh, I’m already in with 6,000. I’ll double to 12,000. It looks good. It’s a lower priced stock.” To make money on lower priced stocks, you kind of have to be a little bit more aggressive on share size and I just … it didn’t work out. So lost 1,600 bucks on that. Got myself into the hole. OBLN was the first, was I guess the second one coming back out. TAIT, TAIT, kind of a weird move here. All of a sudden it squeezes up and gets halted on a circuit breaker. I didn’t buy it into the halt, I just watched it. It resumes and drops down. But then it comes back up and so I bought it right here. It taps 50, I’m holding. It drops it down to 25 and I’m like, “Oh, oh. What have I done?”

I was actually at that point down like 500 or whatever on this trade. So I was actually below $2,000 for a second, unrealized. It then comes up, pops here up to 59. I sold on the ask, got a partial fill, hit the bid on the rest and was back out of it at 51 or 52. So made $370 on that one. Ended up fading back down. Not really holding the level super well, but kind of a small scalp coming out of the halt.

Then the last trade was SPEX, SPEX, a stock that we’ve traded in the past. It was on the high of day momentum scanner as you can see here, first hitting it $3.10, 12 cents, 17 cents. I got in with an average of a 3.26. Pops up to a high of 3.50, 3.54 and was able to take the profit on that with $900. It didn’t hold the level again and now at this point my kind of confidence of momentum today is just getting lower and lower as we get further away from the open. So this is going to be a breakeven day. Nothing to write home about. Nothing exciting. But I saved myself from having two red days in a row so that’s good. I suppose that we’ll just have to hope for a little bit of better opportunities and a little more momentum in the market tomorrow. You know what I mean? Sometimes survive until you thrive. Keep your head above water and it wasn’t easy today.

I was underwater for pretty much the whole day until the very, very end. So that’s the way it sometimes goes but live to trade another day, be back at it tomorrow. So I hope you guys have a great afternoon and we will be back at it 9:15 tomorrow morning, pre-market analysis and hopefully we’ll see a couple of good stocks on the scanner. The days where of course I do really well is when the top of our scanner, the leading gapper is one that fits right into my strategy. So it’s priced between $2 and $10, up at least 20%, float of under 10 million shares, volume not more than a million pre-market. You don’t want it super crowded to the point where people are already actively trading it. You kind of want to wait until the bell rings and it has a great daily chart or maybe a recent reverse split and a catalyst. All of those create the perfect storm.

When you think back on some of the ones that have been there, GEVO, CANF, CANF on Monday, let’s look at timeframe here, historical date. Monday was the 20th. There’s CANF. Fits right into the strategy, $7.25, 40% gap. Now this ended up having a reverse or a secondary offering, which was disappointing. But we go back to right here and look at that move, from 5.50 all the way up to $8.46. That’s an opportunity. So this was the obvious one on that day and usually when the kind of one that fits within my strategy is in the top three, I do pretty well. Yeah, today just didn’t have a lot that really worked. So that’s okay. Be back at it first thing tomorrow. All right, see you guys all 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.