Warrior Trading Blog

Wild Card Friday +$3,837! | Ross’ Trade Recap

Ross_7.5

What’s up everyone. All right, so here we are. We’re at the end of the week. It’s Friday, the day after the 4th of July. And as predicted today was wildcard Friday. I was not expecting anything crazy, but I was keeping an open mind because I know that we sort of have this history that Fridays, oh usually nothing happens. Usually they’re boring, but sometimes Fridays give us a big surprise. And today we had a couple of surprises. We had KPTI, which was continuation from the move that started on Tuesday or Wednesday. So KPTI, a little bit of continuation there. That for me with a float over 50 million shares, I really felt like the risk was too high. I just didn’t feel comfortable on it. So that one I left alone. But OASM was gapping up 50% at the open this morning. A lighter volume stock, higher float stock, and a little bit of a lower price. So again, I really wasn’t sure it was going to be A quality for me.

Look at these tomato plants growing here. We’ve got some green tomatoes. That one does have a few. It’s maybe a nice garden to work in as long as you don’t get too close to the edge. Let’s see how far down it goes. Oh, it goes down.

But anyway, so OASM, I didn’t think there was a lot of potential in it. Really. I was like nah, it’s probably not going to do much, float’s too high price too low. No interest. Well the bell rings and it shoots up to $2 and twenty cents, $2 and thirty cents, $2 and forty cents. I’m like, wow, this thing is moving fast. So I end jumping in it. It squeezes up to $2.50, $2.60, $2.70, $2.80, $3, hits a high of $3.12 and gets halted. Halted for five minutes. It resumed. It hits a high of $3.43. I actually added at $3.40 because I thought it was going to break over the half dollar and then stopped out coming back down. But it still finished with over $4,000 of profit. Actually, no, it was $3,800 I was up over four and then as it came down, but you know what, close enough, a near $4,000 green day. I can feel pretty good about that. Trading from Italy, trading on vacation, you know, that’s the dream. Just to be able to do this with an hour a day.

So another green day, going to be happy about that. And that makes it four green days to start the month of July. 13, $14,000 of profit on the week, live to trade another day. Be Back at it first thing Monday morning. All right, I’ll see you guys on Monday.

Hey everyone. All right, so we’re going to do our midday market recap here for Friday. Wildcard Friday as expected. And I thought there was a potential that we would get a bit of a crazy move today and we definitely got it on an OASM, really surprising action. When I first opened my laptop at 7:00 AM Eastern time, because of course I’m still in Italy. I saw the leading gapper was OASM. And I was kind of bored. So I was like, all right, I’ll check it out, it’s interesting. And you know, the stock was up 50%. I’ll just go to 9:20. A solid gap. OASM Up 48% coming into the open, 53 million share float. With that type of float, I was just like, you know, that’s nice. It’s got a big gap, but that’s probably not going to be anything I’m going to trade. The float’s so big, it’s probably not going to move. It’s probably going to sell off. So I really didn’t think much of it.

The bell was about to ring. I was watching KPTI. KPTI out of the gates, choppy. And I didn’t trade it. I followed my rules on it. This one I had to exercise some self-control because I wanted to jump in. I was seeing the potential and I was like, Oh, you know, this thing could rip over $10.50 which is this pre-market flag here. You see this little pre-market pivot at $10.46, I’m like, it’s going to rip over that level. Squeeze right up here to the high of $10.84, and then pop over nine, continue higher. So I was into it, but the bell rings, it pops up here to $10.40. This is a ten second chart.

It comes up, it sort of holds and then it flushes down to $10.15. And at that point there was a part of me that was like, oh, this looks like a short. And I had easy-to-borrow shares on it, but I said, no, don’t go do that. It’s Friday. Don’t be crazy. So just leave it alone. So I didn’t short it and then it rips back up and I was like, man, you know that that’s what you call the old bear trap. Trapped the short sellers right down here, rips through the highs. Long traders buy the break of $10.40, short sellers cover, you get that quick squeeze up to $10.60, but only twenty cents so not really that big. And then it comes back down, rips up, drops down. This is what we call choppy price action. This isn’t easy to trade whether you’re long or short, this is difficult to trade.

So nothing for me on it. I could have scalped right here, the break at $10.40 and I almost did. But then I said, just don’t do it. It’s not worth it. It could drop right back down to $10.10 and instantly you’re going to have a big loss. So left it alone, followed the rules, exercised some self-control, which is good. And then all a sudden, OASM starts hitting the high of day momo scanner. And I was like, all right, well, it hit 90 you know, right out of the gates. They hit it again at 91, 94, 95, $2.00 and I pulled it up and I was like, I don’t know. It’s kind of interesting. I just don’t think it’s going to do much. So let’s back this up for a second. I’m really surprised. It’s pretty rare to see this type of move.

So it hits two, and then it starts to open up. And then on this candle right here pops to $2.30 and I was like, whoa, what is going on with this thing? And so on this next candle, this is where I started to buy. I was like, you know what, I’m going to jump in this thing, I’m going to see what happens. So I jumped in and it squeezes up to 69 it then squeezes up to $2.94, and then it hits a high of $3.12 and gets halted on a circuit breaker. And I’m really surprised that it’s up $0.60 per share for my entry. So coming out of the halt, I’m thinking, this thing, it has room on the daily, it’s got news today. It’s clearly moving really fast. I’m, I’m thinking this might squeeze up to $4, maybe higher.

So coming out of the halt, I ended up adding at 40 right here. So I added at 40 and, and ti hit a high of 43 and then dropped right back down, sold at $3.13 and $2.88 and sold the rest as it just came back down. I don’t know what to say on it. It just took off really quickly and it looked like it had a lot of potential and I jumped in midway on the move up. It gapped higher up a full dollar per… well not quite a dollar per share but up pretty nicely from that $2.50 entry there and then all the way back down. So now it’s back up to the view app. It’s still up 82% on the day, which is pretty significant. But yeah, a little strange. You don’t typically expect that type of move from a float of 55 million shares.

So the fact that started moving, I was willing to jump in and then it just came right back down. So it’s really weird stuff. But a typical wildcard Friday and then that was it. I didn’t take trades on anything else. CRVS I saw, I was watching it, but I felt like by the time I saw it, I’d be chasing it. It didn’t give the cleanest five minute set up to be a buyer. It did a little early break and a pull back and then it opened up right there. So followed the rules, didn’t chase it.

PECK, P-E-C-K, I saw a couple people mentioning it. Today could potentially be the first green day since June 17th but the volume is next to nothing. And you know, on the one hand, yeah it has room to move up towards $8 or maybe higher. On the other hand, it’s got the moving average resistance points. And there’s no news on it. And without the volume, I just don’t think it’s going to happen. So yeah. Anyways, a green day just under $4,000 of profit. That puts me up a little over $13,000 on the week, which is overall, you know, a terrific week. $13,000, trading from Italy, that’s something I can feel pretty good about.

Last week, well, it was a red week and it was self-inflicted as I guess any red week would be, took a little too much size, got a little too aggressive on one trade. And that gave me a $14,000 loser. So the other days were kind of a wash and really that one trade just kind of ruined that whole week. So I’m flat over the last two weeks, which is not the most impressive. However, coming off the lows and curling back up.

So I’d always like to be on the upswing. And the beginning of the next hot streak. Hot streaks for me often are anywhere from 75 to $150,000 of profit. A good hot streak. So if we’re at the beginning of one now, things should only be looking up from here. And so that’s exciting. And July is typically a decent month. And then August and September can be a little, August especially, on the slower side. But anyways, I’m finishing the day here, finishing the week, and I’ll be back at it first thing on Monday morning. So I encourage you guys who haven’t already checked out our 4th of July sales to check them out, nothing better than celebrating freedom and independence by learning a skill that can help free you from the to five job. All right? So hopefully I’ll see a lot of you guys in a chat room. First thing Monday morning, I will be live streaming again from Italy and I’ll see if I can have another $10,000 week and pay for my plane ticket home. All right, I’ll see you guys first thing Monday morning. Bye everyone.

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