Shared by
beno
Fundamentals
-Float = 4.7M
Catalysts / News / Painting the picture
-Oct 23 2020: Earnings: Revs down 17% Q/Y, up 51% Q/Q
Technical Analysis
-SPY pattern: Bowl
-Intraday pattern: Parabolic Fade
-Other notes: Manipulators on this hot chick today - were hunting for liquidity
Strategy / Confluence / Sizing Guide / Risk
Strategy: Parabolic fade
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 2000
Risk (stop / Rs): Hold above 4
Review / Lessons Learned
Feel like total sheep after being manipulated out of my short. It got me thinking, perhaps I should focus the bulk of my attention on the side plays (not the days high volume ticker / hot chick) as I believe those are the ones that play out my patterns more often. I should probably size down on the high volume tickers as well. This morning loss really rattled my mentality for the rest of the day, causing me to manage my trades poorly. -5R total on this play
Lessons Learned: Don't try to force you're Playbook and high volume manipulated hot chicks, instead focus playbook on side plays with higher odds of working.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-10-23 07:54:47 | SCKT | sell | $3.060 | short |
| 2020-10-23 07:58:07 | SCKT | buy | $3.115 | 0 |
| 2020-10-23 09:39:47 | SCKT | sell | $3.540 | short |
| 2020-10-23 09:43:00 | SCKT | buy | $3.360 | short |
| 2020-10-23 09:52:13 | SCKT | sell | $3.640 | short |
| 2020-10-23 09:53:01 | SCKT | sell | $3.770 | short |
| 2020-10-23 09:53:35 | SCKT | sell | $3.930 | short |
| 2020-10-23 09:53:55 | SCKT | buy | $4.410 | 0 |
| 2020-10-23 10:07:39 | SCKT | sell | $3.790 | short |
| 2020-10-23 10:07:45 | SCKT | sell | $3.770 | short |
| 2020-10-23 10:08:09 | SCKT | sell | $3.900 | short |
| 2020-10-23 10:09:42 | SCKT | buy | $3.550 | short |
| 2020-10-23 10:10:20 | SCKT | buy | $3.617 | short |
| 2020-10-23 10:11:05 | SCKT | buy | $3.640 | 0 |
| 2020-10-23 11:50:01 | SCKT | sell | $2.960 | short |
| 2020-10-23 12:10:00 | SCKT | sell | $2.920 | short |
| 2020-10-23 12:32:27 | SCKT | buy | $2.890 | short |
| 2020-10-23 12:33:39 | SCKT | buy | $2.835 | short |
| 2020-10-23 12:47:13 | SCKT | sell | $2.830 | short |
| 2020-10-23 12:48:39 | SCKT | sell | $2.830 | short |
| 2020-10-23 12:52:03 | SCKT | buy | $2.870 | 0 |
| 2020-10-23 13:19:17 | SCKT | sell | $2.720 | short |
| 2020-10-23 13:28:40 | SCKT | buy | $2.740 | 0 |
| 2020-10-23 13:50:26 | SCKT | sell | $2.710 | short |
| 2020-10-23 13:51:51 | SCKT | buy | $2.700 | 0 |
| 2020-10-23 15:26:46 | SCKT | sell | $2.671 | short |
| 2020-10-23 15:28:39 | SCKT | buy | $2.664 | 0 |
| 2020-10-23 15:39:58 | SCKT | sell | $2.480 | short |
| 2020-10-23 15:40:59 | SCKT | buy | $2.490 | 0 |
Comments
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if you feel like waiting for it to happen, those morning pushes can typically only push 20% above HOD if the stock is gapped through resistance. it becomes very hard for the manipulator to keep doing his thing when volume starts coming in so he will dump his shares at about the 20% push area. you can use this statistic to get a damn near top tick entry on them, but it leaves out a lot of trades in the month. sckt was a choppy one in the morning thats for sure though dont feel beat up about it.
i had a 4.10 entry on it, got scared out of that dumbass 5M volume pump and got right back in again at 4.10 on the bounce after the fakeout
bro ross cameron is the reason for those stupid pumps, he just goes in like 100k shares sometimes and his size is fucking random, but he has a youtube chat that chase like sheep and sometimes the stock goes ballistic for a split second. but pumpers like ross cameron dont change the 20% push statistic. check out KODK 9/16, HTZ 10/16, and CBLI 10/20. I top ticked KODK and didnt want to trade HTZ because of the volume and CBLI i couldnt get shares but i would have top ticked that one too if I woke up sooner
good luck out there bro!