Beautiful setups and a good day of trading for me today. Some days it just works. Three daytrades for me today, yes it’s a lot for some people (understandable), but the trade setups were all there – ROKU 38.46,38.64-42.37,42.50 – VTGN 2.24-2.58, DPW 4.64-5.01. I sold ROKU way too early, but did very well with selling VTGN, and especially saved my rear with selling DPW. VTGN eventually got clobbered. But DPW got demolished. We can have our view of a stock, but if you’re a trader, then just trade already. I liked the mild gap up in VTGN, they are to me a higher probability of becoming a day runner.
This morning, and in this video post, I talked about the top (a process) in DPW, but those tricky time-frames, so yes there can certainly be long-side trades, even (especially?) in an overall top – but you’re on the clock: This morning: “DPW had a nice secondary rally setup, but it looks like an overall top.”
The weak hands were going wild for DPW into the top – absolutely mesmerized by it. I saw some of the ridiculous comments about it. But in the video I talked about “drawing in a box“. DPW came right up to the top of “the box“.
Our subscribers know how much we love gaps, and actually not the standard view of gaps, but we have a “secret” trade setup with gaps, it can give you a nice edge, but this is only for our subscribers. And ROKU did that setup today – a real beauty. I mentioned the opportunity in a video and in two premarkets.
From Tuesday’s premarket: “Short term trading-wise, I scratched ROKU (there are lower gaps), and am long OHRP, but looking to sell this morning..”
And today: “Still watching for that ROKU setup.”
All of this stuff is discussed in the video, the sale in DPW was after.