Transcript for:
Game Plan for the Week Ahead

all right everyone so in today's episode I'm going to give you the game plan for the week ahead starting with Monday July 8th we're going to jump into the charts here and we're going to begin by taking a look at the action from the last few days so Friday we finished the week of course it was a little bit of a funny week because we had the 4th of July holiday on Thursday a half day on Wednesday although you know the half day was kind of funny because the market closed at 10000 p.m. but then after hours continued so after hours just began earlier so some people just continue to trade until 400 p.m. like sort of normal anyway it's kind of a weird day but uh sort of a funny week in in in total but the wild card was C Koss and this without a doubt gave me um a nice cushion for the month of July so if we look at my metrics here we'll see boom that was the $8,000 from July 3rd Wednesday now we'll talk about my metrics in a second as I got some feedback from some of the episodes that some people don't like looking at the metrics they just want the game plan for the week ahead and the thing that I'll say is that I feel like the metrics are important because they set the stage and give the context for what's happening and what's working in the current market so I'm still going to go over my metrics but I'll try to focus a little bit more on uh the game plan for the week ahead so of course I can't talk about the week ahead without looking at costs and looking at its price action asking the question of is this something that I should trade on Monday based on the current chart the way it's currently set up right now and of course the Market's closed but based on what I'm seeing right now at this moment I feel like it's going to reject and roll over we have basically a double top up here around 18 so a big squeeze you know pushed back higher up to 18 on Friday and then kind of rolled over and we got this telling rejection you see that rejection right there so we'll full screen this and we'll zoom into it I think that rejection is very telling now if we had been able to hold over the volume weight average price and close up around even just anything over the vwap if we been able to close over vwap that would have been significant now if we look at the previous trading session back here you could see that we closed um we we were ramping higher we had this parabolic move up to 18 we came back down hard off of vwap but we held vwap and so after hours we held vwap which then gave us a nice setup into the next day of course vwap resets each morning it's an intraday indicator only so it resets we were below it but then back above it and for the most part you know we we weren't able to hold above it uh on Friday so the fact is we ended up closing with this final kind of red candle going right into like 8:00 p.m. or yeah it was yeah 800 p.m. Friday so because of that I feel like this chart is breaking down I'll acknowledge that the spike here was on the highest volume candle of this whole runup right there so really high volume and I think probably that was in part because half day going into the holiday a lot of people probably weren't even trading and this was sort of unexpected but then after they saw all the chatter about this move on Reddit or Twitter or whatever you YouTube Etc then they were ready for the next day so maybe more volume here uh this move which was pretty nice was actually on very light volume which is also kind of interesting so it can move on light volume pre-market uh it's possible that we'll see some more act action in it excuse me but the thing that I'm concerned about is the fact that without a headline from the company what would really send it to sort of the next leg up uh does it have a high level of short interest of shorts that are currently kind of buried on it well you know the reported short interest is always a little bit delayed so I'm sure there's some people that got heavy short in this move that may still be holding but they also may have covered after this rejection of the double top came all the way back down to here so they may have been covering below vwap maybe they got in too early but then added to the position added the position and then covered break evener for some profit so in terms of day trading short short sellers I don't know if they're really still underwater on it here I mean it is obviously up quite a lot but um yeah I I don't know I I don't see right now what the Catalyst would be that would send this to the next level um however I did comment that if we got a um a meme from roaring Kitty let's say you know he posted something with like little headphones you know then all of a sudden uh CU cost makes headphones and that could ignite some momentum but I don't you know I mean that's kind of uh probably unlikely so I think that c is going to be out of Play We also on the daily have this tweezer top which is a big rejection you know if we look at the history of this chart we get moves uh but they don't usually sustain the last time we had a run that was really sustained was really back in 2021 and everything else has been kind of like a couple of days of action and then a fade so I think we may have got and the most we're going to get on it and to be honest I I'm impressed we even got this but this this was really a fantastic move so probably can't ask for a whole lot more maybe wish I had made a little bit more on it than I did but um but I suppose we could all say that so cost going into Monday I I don't think that we're I think people will still trade it but I don't think it's going to be super clean okay so zap Z okay so this one is a little different because zpp going into the close is it above vwap it is right so we had this big move you know squeeze all the way up to 520 nasty rejection nasty rejection rejection of vwap sold off and then into Power Hour it rallies back up to 420 and closes at 428 so now this is set up for continuation into Monday which is going to be something definitely to watch in terms of ascending support um these levels are too far away to really be super valid so probably not respecting that right now or paying much attention to that up in this area uh it's not super valid there either it only really touches in a couple spots right there right there there n not sure about that you know I kind of sometimes we try to test out these trend lines and see where do they feel kind of most accurate that one feels accurate like yes it got below it but then back above it so that could be a level to watch for a dip now 4 a.m. I'm not going to be trading that early those of you guys that are in a time zone that's convenient for that or you're up that early that's fine but uh could watch around this level if we go below it and then back above it but the thing that this has going forward is we step back to the daily chart and we've got room to the 200 a lot of room now we did tap the 200 EMA here this is is the exponential moving average so kind of and it is a red candle on Friday so you know it's a gap up but it it closed a little lower than the open so red volume bar uh could be a little bit of an issue there room on the daily probably up to this 675 level you know I think we've got a little pocket up to there and without the EMA resistance I I think it's something to keep an eye on floats 4.29 million sh s which is good um let's see so you know in total I I think it's I think it's definitely interesting um let me look at the let's see filings on zap so interesting okay [Music] um right so I'm just looking to see if there um any recent offerings and I'm not seeing it was looking for a shelf registration so April right yeah have to look into the balance sheet on this a little bit to see um whether or not there's a likelihood of them needing to raise cash but I'll look at that I I'll spend some time doing that on Monday so all right so zpp it's worth keeping an eye on you got to do a little bit more research on it a risk uh is that sometimes after a stock is up for a number of days you start to um have a higher likelihood of the company doing an offering so that's where we could have a little problem so something to be aware of there okay the then we have a BNF which was up 122% this one ended up being kind of a surprise squeeze on Friday um kind of just out of nowhere halts up dip and rip in a second halt sells off then rips all the way to 650 I mean it's like unbelievable uh but thinly traded on light volume ends up closing you know okay but a couple of rejection candles you know it wasn't it was on light volume that was kind of the problem this is one that I actually lost money on um on a I think it was a pre-market trade at some point last month so when I saw it I was a little like I don't know I guess it ended up with 40 million shares by the end of the day but the initial move was on light volume again two moving average with lots of room right you know the float's 1.4 million shares so it's just the lack of a catalyst that I think is a little bit unsettling on this but it's um you know it's worth um keeping an eye on I guess we've got news here from Wednesday conclusion of Investigation huh I don't know so anyways it's up so that one I'm not sure about that um mdwd but I'm going to put it on side chart BNF zap Z by the way S&P 500 close cling at all-time highs um so this is again I mean closing just under alltime Highs but we made a new high on Friday so overall Market just really really strong now for those of you that aren't invested in the overall Market I guess you know you're not necessarily reaping the direct benefit for Traders like myself that have been trading for a decade or more most of us have been able to build up take some day trading profits and build it up into long-term positions that we're holding in the market so this certainly benefits Us in that regard but this also will IND indirectly benefit you just in the sense that an overall strong Market is going to lead the way and small caps usually lag behind but when we have a market that's really strong that Rising tide lifts all ship so that will uh trickle down so to speak to small caps what I think is holding up small cap markets are uh the high cost of borrowing uh interest rates being high that needs to come down to see more I think economic growth in small caps but anyways good to see the overall market so anyways putting zap on side chart BNF on side chart umvs surprisingly also made a bit of a move on Friday and closed near its highs so interesting pattern there it's a stock that can move fast so I would keep that on a side chart as well just because of the strong close and the fact that it went from 750 to 11 right this is a stock that go from 11 to 15 it can move fast the daily chart little Peak right there around 12 and then room up to 20 and if we look at that move you could see how we're kind of like right these were uh little double top right around this area here not to be exact but just right in that area so then that gives us room up to 1250 so we're holding above that again this is very light vol volume right here so with just a little volume we'd easily dip Back Down Under that level back to this area of support I would say you could probably see some ascending support in here but it's a little bit of a steep line so that's something to keep an eye on so amvs is on watch over here benf and zap on watch right there mdwd this is probably going to be a little too expensive I did get a trade on it on Friday made some money on it but I don't think I'm going to overstay my welcome xhg I think this is kind of a one hit wonder penny stock move you know that v formation take what you can get on it it's uh I don't think there's anything more to trade on that uh a couple other stocks with lighter volume that we're hitting the scanners ride ryde daily all-time highs Blue Sky over about 11 but light volume probably going to need to see some more action on that so so I think that gives us kind of a um a big picture there and you know something that I think is kind of interesting is look at look at like the last like two you know last week or whatever look at how small a lot of these green days are really small green days the market was like really slow um just the last couple weeks I mean very very slow red day but small red day keeping it all really tight which is great really manageable um you know and then nice $8,000 Green Day so this I would say is reflecting that kind of strategy of laying in the tall grasses kind of laying low get a couple little strikes small strike all right nothing's really biting yet like a little little win little win little win and then boom get a big one all right great now Hunker back down right so hunkered back down on Friday and granted Friday was up 2,000 and ended up giving back um you know most of that but if I can avoid days like this then I'll be be in better shape now that was back in the beginning of June so more than a month ago now U trying to put space between me and that red day have had a couple red days since right and kept them really small and manageable this I love you know even if I don't have huge big green days I love that the red days are small and even if the green days are a little smaller because I'm managing my risk that's okay because then periodically when we have something that really sets up boom those big green days just add icing to the cake so you could see like my p&l sort of sideways and then nice jump up and then maybe sideways and another jump up I'm okay with that we step back to 90 days we step back to uh 60 days 90 days and you could see I mean we're talking $200,000 of profit here now I'll remind you as always my results aren't typical but this is the result of managing risk keeping you know things in check for the most part had a couple have had a couple slip UPS right you know I'm I'm only human only flesh and blood and I fall victim to fomo and frustration and stubborn like anyone else but what I'm trying to do is keep the space between these days as far as I can so you know this was a a nice long stretch here where I felt really good and then I was disappointed by this red day and then I recouped it like so fast it was like whoa and then you know but I don't think I really kind of was cured of the illness of fomo came back and got me there another nice big green day and then look at that it's very common Big Green Day you get a little overconfident you give it back Big Green Day overconfident you give it back so this is where I've got to be careful when I have decent green days that I don't get overconfident that I keep my risk in check and I just stay focused now I struggled with this a little bit on Friday on Friday I felt frustrated that I didn't trade cost better I was disappointed in myself and I really I really did have a hard time pulling myself away from the screen I just I you know I was like first first of all um I had missed this first move we I we were out late on the 4th of July we had gone to a a concert and and I honestly I didn't expect Friday on the 5th that there would be any action although cost had closed relatively strong I I still just I was like it's Friday the 5th I don't think we'll have a lot anyway so I ended up missing this move I sit down like right here and I end up getting you know a little trade on one of these Pops I got up to grab some water and missed this pop and drop which I would have probably lost money on if I'd been in it for it and then you know it starts to pull away and I trade it with small size and then I end up getting caught in this jack knife here and giving back the little I made and I just felt annoyed like this stock is up this much and I'm not at my daily goal and I just kind of kept like pushing and pushing and then I had to say you know what man all right it's not a huge green day but you've got a little bit more in your pocket than you had three hours ago can you be grateful for that and live to trade another day and so I pulled myself away from the computer I said you're right 750 bucks is it my daily goal no but don't think of it like that think of it as $750 more in my pocket than I had a couple hours ago and my window of you know really being able to crush it is closing so you know call it come back tomorrow cuz because what you don't want to do is end up having a big red day right here it's not worth it so I was able to pull myself away from the computer it wasn't easy I was frustrated um but it was the right move and and that's something that you you just you have to really get good at especially if you're trading like this where you know these small days are fine as long as you don't end up with these big red days in between because then you're losing money right the small days are okay as long as you step up when you have a moment and you keep your risk in check so that's what's super important red days are going to happen that's fine but just keep them small and in fact if we this is by by gross if we switch to net there might be a couple more small red days here yeah so that's a small red day when you factor in commissions but again this is small and it's totally fine it's it's negligible so this is I would say great this is good trading so this is what I want to keep up especially during the summer months because here's the thing with Summer trading you can have longer stretches like this where it's a little slow and and if you're it's it's it's a lot easier to sit kind of you know with small green days when your p&l is at alltime highs my account you know is at the highest it's ever been right here not in account balance but in total profit my account I actually took money out of it um I'll I'll pull this up so you can see so at the beginning of the week let's see um I dropped my account down because I felt like um I was like you know I just don't need uh this much money in my account right now so let's see I just don't want to put my account number on there all right so so this is where my account was beginning of July 376,000 and I was like I just don't need that much money so I took out 290 Grand dropped my account down uh in fact to like 83,000 um what was it something in the 80s 88,000 86,000 and then that day I lock up um $88,000 so my account's up like 10% in one day that was solid so anyways now I'm working with a approximately $94,000 account and that's fine with me you know I just don't need that money during this time of the year because this is a time of year where it's easy to make big mistakes and then you're sitting you know deep in the red and it's hard emotionally to have the wherewithal just to come in every day and focus on small base hits when you've just lost like 50 Grand on an emotional totally stupid momentary laps of judgment so I took money out of my account so I can't hit the market with $376,000 if I all of a sudden on cost let's say I took a bad trade and I bought 10,000 shares it's $130,000 at 13 and then I'm down two points I'm down 20 grand and I'm like well I got to average down I got to work my way out of it next thing you know I'm in a $300,000 position 30,000 shares and I'm down you know whatever all of a sudden right it it could be like you're losing 100 Grand and it's it's almost always better just to cut those losses quickly and sometimes if you simply cannot add to a position based on account size that forces you just to cut the loss because it's like well I just better cut this and then I maybe I'll add back lower but I just have to cut it so summer months tend to be a little bit slower but you know again I'd emphasize what I mentioned a couple weeks ago uh that this is a good time to be learning because if you can have the discipline right now and this is a time where you really need to cultivate discipline that's going to really serve you well when the market heats up so with that I'll remind you that our fourth of July sales are underway here at Warrior trading so you can check these out we've got the uh day trade Das software now this is a monthly subscription on software the day trade Das software is just this platform that you see right here you don't get access to my live broadcast you don't get access to a chat room you get all of the software the charts the scanners the news feed uh you do get a news broadcast and an audio squawk but that's it and then we've got our Warrior starter this uh you can add on my monthly um live stream if you'd like you can also add on day trade Dash and then we've got our bundles here which you can check out which include uh a year of chat room access a year of my audio video broadcast and 90 days of using my scanners uh and my charts so you get to kind of test out the things that we offer we also include a simulator in that uh bundle so anyways check those out if you haven't already I do think this is a good time to be studying and focusing on building your skill it's always better to have started you know a year ago or two years ago the next best time to start is now so study up the market will not wait for you so you better you know pay your dues start gaining that experience and refining your own skill as a Trader I'll be here all summer long tuning in every morning you know doing my broadcast doing my thing and for the most part I'm just going to focus on keeping wrist tight chipping away small gains here small gains there but when we have something like cost it starts to pull away that's when I'm going to step up to the plate I'm going to lean in and I'm going to try to make as much as I can on those individual days and five or 10 days like that through the summer that's going to that's going to make her break right that's the difference between having a summer where I'm up hundreds of thousands of dollars and having a summer where you know I'm just kind of grinding on 20,000 a month which hey $220,000 a month that's not bad but I'd like to be up at that 50 $60,000 a month Mark if I can so that has me kind of targeting you 10 to $15,000 uh a week in in profit and the way I break that down is as you may recall daily goal is uh five grand which you know doesn't happen every day but the way I establish my weekly goal is times three so let's say I'm up five on Monday five on Tuesday five on Wednesday and then um five on Thursday and then I'm down five on Friday Max loss day so that cancels out this day here so now my weekly is Daily Times three I figure I'm I'm going to have you know maybe a Max loss One Max loss day per week now that's fine as long as I'm averaging here now if I'm averaging you know 500 to a th000 a day then having a minus 5,000 Max loss doesn't work so this is where I've got to keep kind of everything in check to make sure my red days are you know about my average green days you know if not smaller just to keep things sort of in line so it's very possible that um no matter how hard I try this summer it the total profit is going to be lighter if we don't have as many opportunities but it's my job to manage risk that's it you know I can't control how many stocks we have that are really solid like we'll have the number of good setups that we have that's just what the market gives us I can control the risk that I manage I can control how much I put into each trade and you know where I set my stop losses so that's what I'm going to be focusing on all right so thank you guys as always for tuning in to this game plan for the week ahead I'm looking forward to seeing you in the chat room if you haven't already checked out our fourth of July specials make sure you do that uh if you want to learn more about uh the warrior Pro curriculum you can come up to day trade education here and uh click on Warrior Pro and then you can check out FAQs you can see the TR courses that are included the chat room the scanners everything else all right so anyways hope you guys have a great weekend and I'll see you back at it here Monday morning and I'll remind you as always that trading is risky my results aren't typical and there is no guarantee you'll find success whether you trade with me or you learn on your own so please manage your risk and always practice in a simulator before you put real money on the line we're happy to give you access to a simulator as part of your Warrior Pro membership so I'll see you guys in the chat room Monday morning