End of Day Wrap 03/09/2021
Happy Tuesday everyone! Today was another beautiful GREEN day for my portfolios. Many of my swing positions from Friday continued moving up, and I focused on finding re-entry points during big dips. I continued to remain focused on GME, TSLA, SOS, and AMC since they’re the most volatile.
Top 20 Swings
Before some of you freak out about whether you see a ticker on this list, I am holding other positions, these are simply my largest positions. I have 10 accounts, each holding 3-5 different tickers, all automatically set to sell.
- TSLA re-entered this morning during the big pre-market dip, holding.
- SQ re-entered this morning during the pre-market dip, holding.
- BNGO re-entered during the market open selloff, holding.
- CTRM re-entered during the market open selloff, holding.
- GEVO re-entered this morning during the pre-market dip, holding.
- CLOV – re-entered during market open selloff, closed position intraday at the high.
- SOS – continued accumulating dips, holding.
- DIS – closed swing position during pre-market.
- SAVA – holding
- ONTX – holding
- HCMC – holding
- DPW – holding
- SNDL – holding
- OXBR – holding
- LMFA – holding
- AMC – holding
- OCGN – holding
- ATOS – holding
- NXTD – holding
- MARA – holding
GameStop Corp (GME)
Today was, yes, you know what I’m going to say again…. another good day for GameStop (GME). I am still holding my positions in all my accounts, and adding on big dips as we’ve been forming higher support levels just as I’ve predicted 2 weeks ago.
I mentioned I only needed GME to hold above $120 last week, this week, I wanted to see us hold above $145, so closing after hours at $261.01 is beyond fantastic as we went from a consolidation between $115-120 to $135-140 to $175-180 to $240-245 levels. Tomorrow is the big test to see if we can break past $315. If we do, then we may see all time highs in the coming weeks leading up to earnings. I still think we need to trigger SSR so we can push this up even higher, but everyone’s holding the line so well that the dips get eaten up so quickly. We shall see what this week brings as we’ve had many green days with GME and no pullback yet.
Today we hit a high of day after hours at $261.86. GME closed at $246.90, so tomorrow I’ll be looking to add between $220-225 and $195-200 if shorts are crazy enough to come out and play at this level.
As you can see from this 10D 30m chart, we’re continuing to form higher lows. This looks MUCH different than January, because the price action happened so rapidly that it wasn’t able to hold. This time, we’re growing nice and steady, which makes this more appealing to big institutional investors. Remember, the hedge funds need our shares desperately so they can dig themselves out of the mess they created. If we can keep the momentum going, by holding and adding at all the big dips, we will easily break new highs in the coming weeks. I am focused on GME because if it does well, all the other retail stocks move in sympathy (i.e. AMC, NOK, BB, BBBY, KOSS, NAKD, etc.)
AMC Entry Points
Many have asked my thoughts on AMC, and what would be good dips for entering. I cannot advise you on what you should do, however, what I would do is wait for a big selloff (ticker moves from green to red) and scale into a full position, ensuring I have a big lifeline available just in case the trade goes wrong. When looking at today’s intraday chart, and based on the previous day’s close of $9.29, I would have planned for an entry point between $8.25-$9.25, therefore I would have added the market open selloff. If support broke, I would have set a buy limit between $7-$8.
This is based on my calculations of:
If trading within support levels: Previous Day’s Closing Price x 0.90 = Buy Target 1
If support breaks: Previous Day’s Closing Price x 0.80 = Buy Target 2
What I’ll be watching Wednesday, 03/10/2021
I’ll continue to focus on GameStop, AMC, Tesla, and watch bitcoin crypto plays for a continuation. Anything can happen tomorrow, so please don’t force anything. Always be cautious and have a plan in place before entering your trades. Good luck tomorrow! May we continue to have green days and rebuild our accounts after a crazy month.
How to Utilize My Positions List Below
Many ask how to utilize my top 10 green/red position lists below. Oftentimes, I will exit my green swing positions if it looks like there will be no continuation. My decision varies depending on what my cost price is. It’s all about managing risks, and if it looks like I’ll be in a position where, I’ll be down, I won’t hold, and will choose to reposition myself by accumulating dips on red days over a period of time until it’s ready for the next run.
To Buy On Green Days or Not
I will add to my green positions on green days only if it’s moving in the direction I like and forming higher lows, and showing a bullish chart. I make sure to scale when adding, especially on green days, because it can go south quickly.
To Buy on Red Days or Not
I will almost always accumulate my red positions because they usually move back up, unless it’s a clear pump and dump, which I will never swing because it’s too risky. If there are sharp spikes and a quick drop down, then it’s a clear pump and dump. If the chart slowly drops in price throughout the day, then that’s usually people taking profits. To make the call on re-entering or accumulating, I look at the 5D, 10D, 30D, 90D, 180D charts and I monitor the volume. I love adding when there’s little to no volume when setting up long swings.
Top 5 Green Positions (03/09/21):
Top 5 Red Positions (03/09/21):
I monitor Market Movers every single day to scan for new setups. I mainly look for positions with unusual volume that are at the bottom, ready for a reversal back up, or if they remain green, I look for a bullish chart for a continuation.
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Disclaimer : This should not be considered investment advice, and should not be used to make investment decisions. Do not buy or sell any stock without conducting your own due diligence. Information on eyelovegains.com is opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts and data provided here are not meant for investment purposes and only serve as examples. We are not liable for any losses you may endure from the buying and selling of stocks or securities within your accounts.