Hey there! I hope you had a fantastic holiday week. 2019 is nearing its end, and the new decade is approaching. Overall this past week has been an absolute blast, to say the least. As always the main mission of the Sunday recap is to share where I am in my Trading Process. I am not a Guru, nor am I a master of the markets. I am a student of the markets. Being transparent in my main mission within this Blog. 75 weeks into my Trading Process and you may be asking, how much money did I extract from the Market. The simple answer $0. Once more I never got into this Industry for the Money, once I was introduced I was simply Obsessed. I never decided to become a Trader, I simply never stopped learning. My peers think that I am crazy, but they don't understand that to create lasting success, it takes time. I wish it could be done overnight, but that is not the case. It is rough, but I have made it this far, and the experience has been worth everything. I must focus on the Process and the Outcome will come naturally. Once more filter out the noise. Most focus all their attention on the outcome, meanwhile those who succeed focus on the Process. The key is to keep going forward, accept minor setbacks, they are only speed bumps along your way to becoming the individual you aspire to become. This is going to be the last of the Decade, so let's dive right in!
For the next 3 months, I will be Trading in a live simulator account to grow my methodology. Stocks to Trade is going to be the platform that I will use for Paper Trading. As I have done in the past, I will track all of my Trades. As well as track statistics to Gage the markets. I know that Paper Trading gets a lot of negativity from other Individuals, but again we all have different processes. Believe me, I would much rather trade with real Monetary value, but I do not have the funds to open an account. That is the goal for 2020. Three to four months is a live simulator account, and then open a monetary account by August. The simulator starting account is $5000 since that is my goal when I open a live account.
Trade Recap on $PTI & $FCEL
$PTI was a nice fade this past week. This was a former runner. but had a nasty gap down last week. There was a nice bottoming action that led to a nice bounce. I waited for my entry, as well for the sideways price action to look for an entry. $PTI was a nice short from the $2.60's to the $2.10 range. Once more Paper Trading. Overall this was a nice trade. I had a ore-defined risk before entering the trade. I was patient as my risk level held, there was no reason to cover since the trade was going in my favor. I allowed my profits to run. Onto the Next!
$FCEL was the top percent gainer on Friday. As you can see from the daily chart, $FCEL is a recent runner. Again if a stock has run in the past, they can run again in the future. $FCEL throughout the week was ramping up very nicely. Friday there was a PR, that resulted in a nice gap up. I was not looking to short $FCEL taking into consideration that it was Friday along with the fact that this has run in the past. I was aiming for a long entry. I did not trade this pre-market, because I wanted the play to form. I got long as the Pre-Market high of $1.40's broke. That was a great long entry as it ramped up to a high of $1.60. Unfortunately, I did not lock in my gains. This is something that I am working on right now in my Trading Process. PAY MYSELF AS THE MARKET MAKES MONEY AVAILABLE TO ME. I was patient as my risk level held, as $FCEL try numerous times to crack $1.50, but the tape told the story. Once I recognized this was going to fade, I simply exit. My thesis was busted. When my thesis is busted I simply get out. I did not add to my losing trade. Once more leave your EGO at home. I did manage to record this trade live, so make sure to give it a watch.
Now I am going to go over some of the tickers for next week that I am keeping on the radar. Note that just because they are on the scan does not mean that I will trade them all. I want to be familiar with the Ticker, if the indicators are hit, I will act. What works for me, may not work for you.
$CYDY has been the latest OTC supernova runner. There is going to be a huge opportunity to come., Once more I don't care how well the "Company" is when I see a stock that has been overextending without any significant pullback, I do expect one. $CYDY has a nice move on Friday but did fade into the close which is not a great sign of strength. Typically the fading action foreshadows more downside to come. $CYDY is going to be a potential Morning panic- the topping action is confirmed. Once more this did breakout past the whole $1 mark, but failed to hold its gains. That is a bearish sign. Taking into consideration that this is an OTC if we get a panic it's going to be a gift from the Market. In summary. Thesis- Potential Morning Panic, this is topping out nicely, again the whole $1 mark is rejecting. That is a huge momentum shift. This is going to be a potential Morning Panic watch. I don't want to short this taking into consideration the price range, I want more meat on the bone. Ideally long into the Dip buy into a clear panic or the breakout of HOD. I would love this to go higher as that would open the door for a huge opportunity. Key levels- 1.00 is going to be a key zone, that will be a potential buyer if this cracks the .90 cent range this is going to be a potential fade and buy into the Morning Panic.
$SSI has been a nice over extension that has been holding its gains well. This is an absolute gift from the market. Look left to see the right. It's the same fucking pattern. Human nature never changes. This is going to provide lots of opportunities to come. Again I don' have to catch the exact top, take the meat of the move. There is going to be plenty of range towards the downside. Clearly, the trend has shifted. Look left to see right, when this fades, it can fade quickly. Thesis: I would love this to go higher, but the 8.50's is going to be major overhead resistance. I just don't see this breaking above that level. There is going to be multi-layer support. If the whole $8 mark cracks that is going to be a potential fade. I will not hesitate to pull the trigger, I know that this can fade quickly. As this will have .50 cent plus of downside. I need to be patient and let the price action confirm my thesis. Key levels: 8.00 is going to be a major stop-loss zone, .50 plus cent of downside. $8.50 is going to act as a wall. Multi Layer resistance towards the upside. The higher the better, this is not about being right tor wrong. It's a game of ODDS.
$SAVA has been an absolute monster. Shorts got trapped as the chart tells the story. After hours this ran up to the high of $6. This one I am going to be patient since this is a low float runner. I don't want to enter too soon. Again I don't have to catch the exact top nor bottom. There will be plenty of room for the downside. This can easily go higher, as this is holding is previous resistance level well. Thesis- 5.50 / 5.25 Key Support that will be key support zones. The whole $6 mark is going to be major resistance towards the upside. I don't want to short unless there has been a clear trend change. First Red Day, or Fading price action. There will be multi-layer support towards the downside. The higher the better.
$CLSD I am still short as this is a classic over-extension. I have a 3.70 average. There is no reason to cover since the trade is going as planned. This one is going to be a top watch as I will be watching if this has more downside to come. $3.00 did recover well from the washout, ideally, I will be looking for that level to crack soon. This can easily retrace above the $3.25's level. I will cover my short is there is a Red to Green shift or a break of that overhead resistance, otherwise let the trade work. Key Levels- $3.25 is clear overhead resistance, we could see potential upside if that level breaks. As well the whole $3 mark is going to be a major potential stop-loss zone.
$DRRX is more of a speculative play, nice over-extension chart pattern. This is very choppy, but the pattern is there. Potential fader. Key levels- $3.30 /3.20 - 3.00 is going to be key support zones. 3.50 will act as a wall towards the upside. I will avoid any Choppy moves.
$MRSN is another over-extension chart pattern. On Friday there was a clear trend change, $MRSN has it's first down day. This did bottom very nicely, and it's holding above the $5.90's. Ideally, we get a bounce of some sort which that will lead to a great shorting opportunity. As you will have longs who are underwater and what to break even. Key Levels- $6.25-6.00 is going to be major overhead resistance. $5.80 will be clear support, there will be range towards downside if this continues to fade.
$FCEL is going to be a top watch for a potential morning panic. As this is a recent runner. This does not have a great history of holding its gains. The inability to hold its gains on Friday is not a great sign. Wait for the trend change, Green to Red move, First Red Day. Key levels- $1.20 -1.00 major support zones, $1.40 will act as major overhead resistance. Again the higher the better, but I do see this fading this upcoming week.
Those are the main Tickers that I will be watching for Monday. Once more I can't predict the future. All I can do is prepare! Just because it's on my watch list does not mean that I am going to trade it. I wait for my key indicators to be hit, then I act. If they do not hit, then I simply do not act! I don't wake up expecting to trade. I don't have FOMO, because there will always be another day!
2019 has been an absolute blast! I hope you have a great week and a great New Year Ahead! I will see you next year.
Week 75...$0. A year from now I will look back and be grateful I started young.
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