Volume, Bitcoin, the Secular Bull Market, Waiting for the Spring Setup

The Entry Points

First, I apologize for the background noise in the first video. The second one is fine. Today’s only daytrade is SQ, 37.64-39.54, and I kept 1/2 the position. No surprise, but yes it was a spring trade setup, and a nice one with 123 push down. It’s all discussed in the videos.

The stock market is in a huge secular bull market as I’ve believed for years. It is not remotely a bubble. I’m basically bullish on “everything”, except the global government bond markets. The video about momentum and CVO is here and why are people constantly trading the previous trend. In the premarket today we discussed MARA and the gap up:

“Recent big winners MARA, PZRX, DPW, SSC are surging, but I believe they are secondary “echo” bounces. But someone who bought into the lows, I didn’t, is loving it, just hope they sell.”

Also discussed is why I believe the shippers are in a major bottoming process, and I’m accumulating DRYS. Plus a look at BTC “then and now”, and the volume in QQQ, AMZN, FB.

 

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About traderscott 729 Articles

Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

7 Comments

    • Yes, I love the Asians, and they love to trade. I’m out David at 14.06, it was a gorgeous setup, 123 after the “break of support”. The only thing I was “bullish” on about XNET going into today was a potential bounce trade below 11.57. The uptrend, for me, is over. Now it’s looking for bounces. And that will fade as the liquidity leaves it. It needs a “reset”, or not. There’s a time to “chase” into reactions, and a time to sit way back. All probabilities.

  1. Saw a couple of huge volume bars show up in NKTR today on one chart but didn’t show up on slo-mo tradingview, signs of distribution?

    • They look like more stopping action (SA) rather than EA. Where we “should” expect some pretty serious EA is into the daily secondary rally failure high. And probably will see some showing up below first. It’s into a pretty messy area, but what a great stock you found. I’m still waiting for some kind of a reaction setup, or an opening gap down on dumb news. This is a great example why in an overall bull, give these things lots of room. And with stocks like these, my only focus is a reason to buy, until something really hits me hard.

      And BTW, that secondary rally failure thing is a bit tricky because there can be numerous intraday ones into a top, but that’s why I said “daily”. But of course the daily top ones are the most potent.

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