End of Day Wrap Up 03/10/2021
Happy Wednesday everyone! Today was quite a bittersweet day for many of us. I am not surprised about the events that took place today with all the “Meme” stocks, however, I’m still annoyed. I’ll go into this below, but as a whole, 8 of 10 of my accounts closed green, 2 remained red.
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 – holding.
- SQ – closed swing position during market open
- BNGO – closed swing position during pre-market.
- CTRM – closed swing position during pre-market.
- GEVO – closed swing position during pre-market.
- SOS – closed swing position during pre-market. Re-entered at the big dip, accumulating, and holding.
- SAVA – closed swing position during pre-market.
- ONTX – holding
- HCMC – holding
- DPW – closed swing position during pre-market.
- SNDL – closed swing position during pre-market. Re-entered at the big dip, accumulating, and holding.
- OXBR – closed swing position during pre-market.
- LMFA – holding
- AMC – closed half at market open, added back to position at the big dip, and holding.
- OCGN – holding
- ATOS – closed swing position at pre-market. Re-entered at the dip, and holding.
- NXTD – closed swing position at pre-market. Re-entered at the dip, and holding.
- MARA – closed swing position at pre-market. Waiting to re-enter.
- GAXY – holding
- LYL – holding
GameStop Corp (GME)
Today was, a bittersweet day for GameStop. As you’ve read in all my previous posts about GameStop, I was expecting a big short attack to trigger SSR if we broke out above $315, and then some. NO ONE should’ve been chasing at the high, no one. Today, shorts took it to a whole new level, and there were multiple halts down. The amount of manipulation that took place today was really sad to watch, but it is what it is. For those who want the play by play of what happened during the big halts, you can check out Andrew’s video:
Personally, I wasn’t hurt by any of it, because all my GME shares are in the low $100 range and AMC are in the $2 range, so it didn’t do anything other than wipe most of my intraday gains out somewhat. I had my buy limits in place for the dip buys as I typically do when I’m expecting a big run up. My buy limit was set approximately 20% below yesterday’s closing price at $195, and one right below that as well at $175. I did NOT expect the drop to $175, however, I did set one there anyway just in case. If you need help deciding whether to buy more or hold, you can follow Andrew’s DD and make the decision for yourself:
I do feel bad about the people who actually chased at the top. Hopefully those who have been following my play by play over the last few weeks didn’t get a bad case of FOMO and chase the rips upward when I made sure to alert since we were in the $50-70 range all the way up until yesterday. This was the day to hold the line, and my game plan was that if we break support, that would’ve been the dip opportunity to add, which I did. I am still holding my positions in all my accounts because I only needed it to close above $250, which we did.
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 $256 is still pretty good as we went from a consolidation between $115-120 to $135-140 to $175-180 to $240-245 to $250-255 levels. With SSR in place tomorrow, we will see if we can move up this up slowly, as we continue holding up to earnings. If we can break past $300 tomorrow, then we may see all time highs in the coming weeks leading up to earnings.
Today we hit a high of day intraday at $348.50. Between 9:18am-9:40am PST, market manipulation with multiple halt downs took place. I do expect lawyers to be coming out in full force and the SEC to get involved again after what took place in January. At this point, I don’t have the energy to go into all the details. There are plenty of DD out there about today’s events. Even with the manipulation, GME still closed at $265.00, up +7.33% on the day, so tomorrow I’ll be looking to add between $210-215 and $185-190 if shorts are crazy enough to drop it another 30% with the SSR in place.
As you can see from this 5D 15m chart, we’re STILL continuing to form higher lows. It may look a bit like an emotional rollercoaster, but that doesn’t change the end goal. Like I mentioned, 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.).
Read Full Press Release Here for AMC Entertainment Holdings, Inc. Reports Fourth Quarter and Year-End 2020 Results
What I’ll be watching Thursday, 03/11/2021
I’ll continue to focus on GameStop, AMC, Tesla, and watch bitcoin crypto plays for a continuation, along with all my other positions mentioned above. 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 (03/10/21):
Top 5 Red Positions (03/10/21):
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.