MNTS Trade on Apr 7, 2022 08:08 from BanalityOfEvil: Tradervue User Stock Trades.

PLAY

MNTS – PREMARKET SCALP WITH OPENING DRIVE

CATALYST

7:03:00AM
MNTS
MOMENTUS SIGNS LAUNCH SERVICES AGREEMENTS WITH SPACEX

TRADE IDEA

MNTS will touch $5 area on the open

SETUP QUALITY

B – float is a little high with long term resistance at 4.70

BIG PICTURE

• Fresh news
• Gapper
• Mid float 50M
• RVOL 200x
• Upside on daily chart to 4.70, 5.30, 6.25, 8
• Spy holding under 450
• VIX @ 22
• ATR .25
• Some algo presence in premarket

PLAN

• Build a position around $4 area in premarket 1000 shares max, by getting a good price, I will be able avoid a lot of chop intraday. $3.80 area could be tested before price resumes trend. There is some room on this on the daily chart for a potential big move if price can hold 3.80 on the open.
• Scale out into strength around 4.50 (premarket high) in premarket or on the open, holding at least 1/3rd for a move to $5, if price holds strongly over $5, then hold a small runner, at least 100 shares, for a larger move
• Hold runner until reason to sell

REASONS TO SELL

• Price moves below 3.90 and holds lower in premarket
• Price cannot hold 3.90 area on the open
• Tape is heavy at key pivots and will not lift
• Targets are hit

EXECUTIONS AND PRICE ACTION

@8:10-8:20 scaled into position @$4 consolidation area

@9:25 added a tiny portion before the bell, and then changed my mind, deciding I was a little oversized when price did not reclaim $4 in this moment, so I lighted up position by 1/3rd. If price had moved more aggressively through $4, held, and moved higher, then I would have held full size into the open. In this moment I was thinking about my monthly goal to have no outsized losses.

@OPEN price sells off a bit but holds 3.80 with conviction, algo presence is extreme, which gives me confidence that the bots will churn here for a bit, and the stock will most likely go higher, since it has not capitulated to the downside in the opening minutes.

@9:40 I needed to leave for work, so I set a stop @ 3.75. My thoughts were that any move below 3.80 and this thing would be toast, and I did not want to hang around

@10:00 1ST target hit. price alert over 4.50 on mobile. Unable to check stock since I was 30’ in the air.

@10:06 was able to pull up the chart while on the roof, saw it was moving higher, so I moved my stop up to 4.20 area

@10:30 when I got off the roof, I liquidated position when I saw this was struggling to move higher.

KEY TAKEAWAYS

• Did a decent job trying to balance trading an simultaneously inspecting a roof. I knew I would not be able to monitor the position closely when the market opened, but I liked the play, so I did my best to get a good price in premarket and size appropriately in case I was stopped out.
• I hate trading this way, but I guess that is what small size, alerts, and stop losses are for. NOT FUN.
• Good job managing risk
• Good job recognizing that this would probably go higher on the open due to long high volume consolidation in premarket with algo presence – trying to trade with the algos here instead of fight them for pennies.
• Scale into price action like this more slowly. It will improve your price average and allow you to hold more size into the open.

PREMARKET PREP

SYMBOL

SPY

VIX