End of Day Wrap Up 03/11/2021
Happy Thursday everyone! Today was a nice green day for the overall market. There was a nice recovery in the biotech, cannabis, crypto, blockchain, EV, energy, media, travel and tech sectors.
I was gone for most of the day, busy with appointments and taking my mom to all her doctor appointments. I’m actually starting to feel the effects of working 20+ hours/day, and with everything going on all at once, it’s starting to take a toll on me as I find myself unable to stay awake throughout the day. I’ll be scaling back, and setting up longer swings for some of my positions in the coming weeks.
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 – re-entered at the market open dip, and holding.
- BNGO – re-entered at the market open dip, and holding.
- GEVO – re-entered at the market open dip, and holding.
- SOS – closed swing position during pre-market. Re-entered at the big dip, accumulating, and holding.
- SAVA – re-entered at pre-market, and holding.
- ONTX – holding
- HCMC – holding
- DPW – re-entered at the market open dip, and holding.
- SNDL – holding
- OXBR – re-entered at the market open dip, and holding.
- LMFA – holding
- AMC – closed half at market open, added back to position at the big dip, and holding.
- OCGN – holding
- ATOS – closed at market open.
- NXTD – holding
- MARA – re-entered at the market open dip, and closed after hours. Will re-enter at the next big dip.
- GAXY – holding
- NVAX – re-entered during pre-market, and holding.
- RBLX – entered at the big selloff at market open, and holding.
GameStop Corp (GME)
Today SSR was in place for GameStop, and the game plan was to let it drop 10% to trigger SSR for tomorrow. The goal is to trigger SSR as many days as possible up until earnings week at this point. I’m holding my positions strong, and have no intent to sell.
I mentioned I only needed GME to hold above $120 last week, this week, I need us to hold and consolidate above $250, so closing after hours at $260 is perfect. With SSR in place again tomorrow, we will see if we can consolidate between $260-$300 as we continue holding up until earnings.
Today we hit a high of day intraday at $281.49. Even with the manipulation yesterday, the fact that GME is still holding above $250 is extremely impressive. Furus who were attacking GME and those investing or trading kept calling this a pump and dump, which is what they essentially do to their stocks. With actual pump and dumps, the following days are usually quite brutal, and rarely do they ever recover as quickly. This is not a pump and dump, and we can clearly see this because we’ve formed higher lows over the last 2 weeks, growing at a nice and steady pace (unlike in January). Today we closed at $260, down only -1.89% on the day, which no other furu will admit is IMPRESSIVE. This says a lot about the strength of GME. Tomorrow I’ll be looking to add between $230-235 and $205-210 if shorts are crazy enough to drop it another 20% with the SSR in place.
As you can see from this 5D 15m chart, we’re STILL continuing to form higher lows and consolidating nicely. It may look messy, 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.).
What I’ll be watching Friday, 03/12/2021
The overall market will most likely open up green in the early morning, and then sell offs will take place beginning 9am-11am PST/12pm-2pm EST since most traders close their positions before the weekend. Tomorrow’s one of the anticipated days for GME so I’ll continue to be on high alert in case something big happens. Other than that, I’ll be watching all my swing plays.
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 (03/11/21):
Top 5 Red Positions (03/11/21):
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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