UPST Trade on Aug 12, 2021 09:32 from MichaelBLe: Tradervue User Stock Trades.

6:41AM
I tried this stock again when it was going to open down on the day. The tape read that it was going to go higher. I took a small position and was only going to add into it if the initial position showed me a profit.

There is an article that pointed out WSB's top 20 trending stocks and it got me nervous when UPST popped up. I'm hoping the float is large enough so they can't mess with the price action too much. Or there isn't too many retail traders in this name. That is a recipe for a dangerous shake out...

10:06AM
This last add of 100 shares was too heavy too quickly. If I stop out of this position, it may be because my average got brought up too close. Setting up nicely intraday, but the right play would have been to add slowly and fully go into it as it broke HOD preferably near EOD.

8:21PM
Looking at the intraday chart, it looks like the chart shows some weakness going into the close but nothing too alarming in my opinion. I did give back some gains but that is due to my position size and the volatility of the stock.

This name is wild. It's taken me trading twice to realize it. I will try to do my best to really manage this trade well. Whether it's a loss or hopefully a win.

Breaking down the chart, the area that I bought had a small rise in volume. It broke from an inside candle on the 1hr chart. The following candle didn't have the follow through volume or price action I was hoping for. Instead, the price pulled back the remaining 2 hours of the day on lowish but increasing volume.

It looks like the rising 10ema may act as a moving support for the name. It's sitting right under my stop of 177. I should break up my position into 2 stop losses to give this a little more room. Sell 1/2 at 177 and the remaining shares at 174 or so. Giving the stock some more room.

I haven't made up my mind yet on what to do. Break it up or just stop out of it completely. I guess we will see how the PM action is.

6-13
6:53AM
I took a 1/4 off my position. I am trying to read the tape but this stock trades so wildly. We broke through the 196 and 197 whole numbers. It took a little bit to get through 196 and it went straight into the 197 sellers. From there it broke through after some time and briefly made a new ATH of 197.75. The tape then read sellers stacking at 197. The stock got body slammed into the 195s and I sold 1/4. It will need to consolidate a little bit before hitting the 197s again. But this may have a magnet towards the 200 mark. Trying my best to give it time.

7:23AM
I sold half my position as we approach the ATH near the 1st hour candle close. There could be the possibility of a small red inside candle for the 2nd hour candle but being a Friday, I'm not sure how much more buying power this has for the day. I have half of the position still on. That way if it does continue to go, I will still have a position for the ride.

8:46AM
An important note I have to add into this... Yesterday, during the pullback into the bell, I kept telling myself that I can't trade based on money. As I saw $1,000 profit vanish and go slightly negative, the chart was telling me to stay in it and stay calm...

This morning, seeing the stock gap up, all I could think is the money I would make. I counted my profits before I even booked them! I realized this immediately and pounded into my head "stop thinking about the money, focus on the tape" I repeated that over and over and over again until all I could think about is trying to read the tape. That how I was able to hold through the 190s pullback this morning. If it wasn't for the awareness of my self being, I would have screwed up an amazing opportunity.

Focus on the process. Focus on the trade. Focus on everything BUT the money. The money will take care of itself.

6:59AM
There was a strong reversal in UPST and AAPL along with other tech names. My decision to take the entire position off was based on the time it may take for the stock to recover and make a new base. I am terrible at waiting for a new base to build and rebuild my position (SHOP and ALGN).

After making a new ATH and reversing hard, this volatile stock has the possibility being just a volatile on the way down.