Hey, there I hope you are having a wonderful Thanksgiving with your Family and Friends. Sorry for not posting more frequently, there is a lot to discuss. Again this is week 70! I do apologize for not doing a Weekly Recap like scheduled, but I do plan on getting back on track! The website is still in Development, practice makes progress. Again take it day by day.
It has been an amazing past year. The past 70 weeks have flown by faster than I could have ever imagined! I am very grateful to have started at a young age. I do understand that no one reads these, and I understand why. This game is based on one thing only. How much money you make from the Market. Once more I never got into this game for the monetary value, when introduced, I simply never stopped learning. For the past 70 weeks, I have been sitting on the sidelines, I've been building my Knowledge Account. I have been building upon my Methodology! Believe me, if you had asked me 70 weeks ago, that I would not have been trading by now I would have slapped you in the face. I know that I must focus on the process, and the OUTCOME will come naturally.
I will do a long Sunday Recap, to make up for my absence! It will be a much more detailed one.
Tonight I just want to go over some Tickers and more!
$CLVS is a classic over extension chart pattern. Again I don't care how well the company is, when I see a stock that has run up consecutively without a significant pullback, I do expect one. Again it's not an exact science, but the pattern holds true. Just look at $BE, $REKR, $ACST, and many more. Ideally, I will be waiting like a sniper. Let the topping action confirm and the sideways price action. Wait for the momentum shift. If this fails to hold the $12, we could see a potential downside. I would love this to go higher, as that will open the door for a bigger opportunity. Shorting I would love to take action in the Green to Red price action shift, as that is a major momentum shift. I don't have a disco ball, I'm not trying to predict the future. I am just going by the odds. If this fails to the gap, I would love a potential Morning Panic. If I were to go long it would be into any potential Dip Buy or a nice ABCD set-up. As well any potential Red to Green Shift. Again I don't want to chase this stock up since it has been well overextended. Must take note that the Market Cap fairly high, so there likely will not be any quick moves like we see on Low Floats. Typically I will avoid any Choppy moves, but again must be patient as my risk level holds. Just set a per-define risk, and pull the trigger. Again the higher the better, but this will be a potential Fade.
$DTIL is yet another variation of a classic over extension chart pattern. This is a recent IPO and as you can see the chart pattern is an absolute beauty. It's a nice yearly breakout. $DTIL is Nearly a Billion dollar Market Cap, meaning that it's not that volatile, but the pattern is there. Ideally, this is more of a speculative ticker. I will be waiting for the momentum shift. Taking into consideration how far this has run up without any significant catalyst I do expect a pullback. Again the higher the better.
Update: It has been an absolutely fantastic adventure to this point in my Trading Process. I am almost there. The time is coming. Soon I will enter the game, and then I only have one GOAL. TO STAY IN THE GAME. For the past 70 weeks, I have been sitting like a Lion. I have been seeing my enemies come and go. Trading is going to be the hardest venture that I will ever take upon. Note that it takes NO SKILL to put on a trade. All it takes is a click of a mouse, and you have a 50/50 probability of coming out a net winner. What takes skill is creating a state of CONSISTENCY! In all honesty, when I do open an account, I would most certainly love to lose it all. There is nothing better to learn from than our failures. The key is Starting small, and cutting my losses. A lot of my peers say that I am wasting my time. I disagree. No matter what happens, the experiment will be worth everything. I will see you soon.
One year from today, I don't know where I will be. All I can say is that I am very grateful for everything in my life. At 19 I was fucking hooked. I will see you soon!