 Hey everybody Austin here back for another trade recap, but before I start I want to say I'm not licensed I'm not registered. I'm not a financial advisor And none of this should be taken as investment advice even if it sounds like it, but yeah solo the The the trade of today. I've been thinking oh for the last 10 or 15 minutes about a good Star Wars ship But I can't think of any but Han Solo was on my mind all day. Thanks to this But anyway, yeah, let's I want to go to the beginning So at the beginning of the day I looked at the daily chart It was the first thing as I always do I always look at the daily chart and I saw that we were gapping just above this 165 level now this is important because I I think I mentioned it in chat That immediately I was not looking for a short because right here at the open I noticed that we were gapping right here above this 165 level and if anything this is kind of Like a breakout chart like we're breaking out of this consolidation area where this was the the peak and so this is technically like a multi-week breakout and I you know, it wasn't even on my short radar because you know, we're opening here at 170s and In my in my mind there's support at 165. So like if I wanted to short it I would be shorting like a breakdown of 165 and Then where am I gonna go like the next support here is 150 I didn't see a lot of meat here to the move like if we had a gapped up to like 2 or 250 That would have been that would have been a different story I would have said hey look there's some meat to come down before the next support but Right here at the open. I didn't even this wasn't even on a short radar because it wasn't gapping high enough but anyway but then we got this perk here we got this perk here and It kind of got interesting the volume wasn't super spectacular off of the open You know that the floats like 11 million chairs and we were doing like, you know like sub 130,000 on the minutes in the open of the day So I wasn't actually I didn't have a lot of high hopes for this actually, you know until we got this perk and I said Okay, well over 195 and we can get something because of this this nice volume perk I'm like, you know, maybe this can grow some legs over 195 For me there was no trade in this range unless I wanted to scalp Gena, um, you know a big a big scalper So I was looking for like a breakdown of 165 or like a break out of 195 but After we failed pretty hard here. I kind of lost hope And we saw the volume die and we kind of lost I kind of lost hope for it But and I think the volume is like two or three million chairs So nothing to scoff at but nothing super spectacular for the size of a float. It's been seen before But then let's fast forward. Yeah, let's get the whole chart here Yeah, this is the whole chart. Wow. Yeah, so you see I traded it over here and I thought I was being patient so When we got this perk and fail like under view I thought it was over until we perked up again here But at this point I didn't want to buy it so this close to the high of day in the middle of the day I kind of let it go and ignored it and you know, I was kind of happy I ignored it here and then you know like all of a sudden I looked away and boom there it was and Kind of caught everybody's surprise surprise caught me by surprise But this is definitely where I was interested in it now Because now at this point the volume was really good It's proving that it's showing signs of life that it doesn't want to break down and let's go over the components like my favorite power three components I look at float volume and News the float as I mentioned all of this earlier the float Was 11 million still low. I like under 10 So it was just on the brink of my not perfect not a set of category The volume wasn't really good until about like this until about this this squeeze here for me Like, you know like under a hundred thousand. It wasn't really wasn't that high so I didn't catch my radar And but the news was good and I did mention that like the news was good It was it was a hyping news and the news was I looked it up on Yahoo finance The news was right here. It's it's This is this is recently, but this explains it the same They They had their webinar today to go over their answer to to Tesla, you know, it was this they especially have a car that's a Tesla substitute for like $15,000 and Tesla being a big a big hot, you know, a hot name right now It's a low flow that can compete with Tesla is a really big idea It's a very hype idea and my rule of thumb is my rule of thumb is it is if this is a news that Can be that I can hear about the second day And especially by the on the second day by a non trader friend someone comes up to me says hey Have you heard of that company that can you know that's doing what Tesla's doing and they're a small baby company? Like that's something that the people can get excited about that's hypey It's got that hype factor aspect to the news. So that did check out Even if the the float was a little higher than I wanted and the volume was a little under than I wanted So for me, I rated this a B setup and you know, this decided to prove me wrong this I mean hindsight is 20 20 but this kind of checks out for a power three just you know a little high High on the flow and a little low on the volume until here when the volume Relative to the float got really good when over here. I think we had traded at least It's float we've we rotated the float and over here. We were just nuts But my first trade on this was actually to attempt a short I haven't done a short trading gosh It has to be like three or four months, but I attempted a short around three because This is where I saw some heavy selling on the last on the daily And it was starting to get like that 2 p.m. Ish area And I was like, you know It's if it's gonna fade it might fade from right here And so I wanted to give it a shot, you know, I started throwing some orders out here I canceled it right away. I was like, okay, if this is gonna break through I don't want it stuffed three and I said, you know, let me put those back on and then we got that And then we got like I felt like 290. Let me zoom in here. I felt like 290 290 was the level that was keeping this above three So the second we broke down to 90 I put on some more shares and then I got and then I got a piece taken off here and and I could tell right here Is where I got kind of I got kind of nervous because it seemed like we were fighting every inch on the way down Like I had an order. I had an order right here At like 272 and I didn't get filled so I moved it up to 273 I didn't get filled here and you know, I was getting a little bit nervous that like it was just gonna pop back and I finally did I filled I think this is a third of my position here I filled a third of it and we perked back up to 290 the level that I felt was important and I let it go and when it looked like we were gonna fail again. We failed I put some more on a tank my order again was 263 I had like a 263 order and 266 held or something like that like I can tell like every every cover Was getting fought for it like I couldn't I couldn't even make gosh 20 25 cents on that like so And I was trying to be conservative So I'm like if the conservative shorts aren't getting anything and I wanted the aggressive shorts that like are maybe still short from the 40s that like are just covering on every dip have to be feeling so the second we've got a reclaim I covered and I covered Partially because you know because 290 was my stop after this ad But also because this is becoming a long setup and I and I mentioned that like this is becoming a long set up that I kind of like the immediate this is a again like on all my long videos This is a this was the breakdown the 273 area like the bit from the big crack We broke that level and then we immediately reclaim. This is a fake. This is a fake breakdown right here so You know just like OCX and this was kind of it reminded me a lot about OCX Let me go back to OCX on the day so I can kind of show what I'm talking about here on the big day of OCX Yeah, here it is. It really reminded me. It was so strikingly resemblance of that comeback where OCX it Tanked so hard right like broke down that level tank and immediately reclaimed This is where I was buying here and I was like ma'am. This is very familiar I gotta be I gotta be covering at least and if not longing so when we go back to solo You know, it looks strikingly similar and So my favorite long patterns is the the failed breakdown and then the immediate reclaim like I covered right away And then I was looking for the long I almost bought it here too, but I gave it a little bit of time I did decide to put on a starter here and over here I was getting a way nervous that we were gonna crack But I knew that shorts had to be equally nervous it was a tug-and-war battle who was gonna win and For me that 290 level was the key level and once we perked through there after after a long consolidation You know, I said hey I'm now gonna move my wrist down here to that 280 level and I'm you know, I put the rest of my size on and Given how late it was in the day I I knew I was gonna you know I was already small red from the short earlier and I was like you know what I know I'm gonna be piking this But it's late in the day. This isn't a comfortable time that I'm normally trading I'm normally trading these setups in the mornings. You know, I knew I was gonna pike it. I even said like I'm piping this I'm taking the money You know, I'm I'm getting green on the trade and I'm gonna cry if it goes higher But hey, if it goes higher, we got a set up for tomorrow And so I did I bought it here and I piked the crap out of it. Not the best trade This was actually a little bit of a break of discipline for me You know anyone who knows the way I like to trade I like to take off a third for a scalp a third for a trade and a third for a home run and You know, of course the one time I don't The one time I don't look at this So look at how insignificant that looks So wow It's just amazing But anyway, yeah, so like I just you know like a third would have been where I took it off I should have taken off a third where I did, you know My trade probably would have been here in the 40s or in the high 30s That would have been the trade part of my thing and I don't know how long I probably would have sold the rest of four or You know, if I was really patient, maybe I could have waited for a lower low to get out That's that's another strategy wait for a lower low or wait for a big stuff or some kind of short, you know kind of signal to get out But you know, I highly doubt I would have stayed for that but you know um this is a this is a good example of You know, how I'll height factor and volume relative to the float can really just push a stock forward and I You know, if I hadn't had just after round with the short here, you know, I might have been in a clear mind But I was read on the day. It's not that you know, it's not the best, you know Decision-making to to trade the P&L and that's kind of what I did is You know, I was read on the day and I just you know Like it was a kind of a an annoying short because I couldn't get my fills like and then it ripped back I'm like, you know, what am I doing short? It's looking like a long and And then I and then I had the thought that like, oh man, I'm gonna lose long I'm gonna lose short and then like I like at this point I was so close to losing long like I was gonna lose short and lose long I had that just so much emotions going through and I was I was ready to be done And you know, I let an emotion make the decision and you know, I paid the price. Look at this Look at this. This is all money. This is all money Like I doubt it would have been through for but I would have been I would have made it a lot more than 310 So I'm actually a little disappointed in myself in this trade. I'm really proud of my patience for the short You know, like I didn't get caught in this. I didn't get caught in that You know, I did attempt it where it kind of did like start to work, you know a little bit rusty But you know, I I felt kind of good about this, you know, I thought I had it and And then when I went red on it and then like I thought I was gonna lose long I let emotions get in the way and I piped a great trade, you know and the story not not the best But at least I'm hoping you guys can kind of see like a familiar Pattern to the stocks that I like Again, like if this had just been like maybe seven million shares float And it was a little bit higher volume at the start of the day more activity. I probably would have I Probably would have labeled it an A setup But for me it was a B setup and it did decide to prove me wrong. It said hey, no, no, no Tesla's way too important Tesla's way too important to be a B setup But you can see a familiar pattern with like you had MRIN big company is Google you had and Bev the big company related was coke and Solo the big company related is Tesla. This is becoming a very very prominent plant type of news that likes to create squeezers and You know, they're not all gonna be big company news some of some of the high-factor news that I like is like achieved profitability or you know a huge contract or you know like Elimination of debt, you know stuff. That's truly something that can truly get exciting But my my rule of thumb is normally the is this a news that I can potentially hear the next day And this is definitely a news that I can hear the next day a 15 a $15,000 substitute to Tesla is really hype news and I wish I would have you know I wish I would have put a little bit more stock in it, but You know that that's all I can It's all I can think of right now if you guys have any other questions or if any of you guys nailed it like, you know Congrats on you like If you guys showed it, I hope maybe there is a warning sign that like I can That maybe I showcased here This this idea of where's the meat Like where's the meat, you know like before when I used to shorten like in my first year I didn't I read you get in trouble this and this was one of the first things that I learned to avoid was don't short If there's no meat, there's what what what where's where's What's how's it worth it? Where's the target and I couldn't justify a target above 150 or like, you know Best case scenario goes back to 140 over here. You know, that's 30 cents like that You know, that's you can make that on You can make that every day. There's this this wasn't for me a golden short opportunity. It's more of a long opportunity I wish I would have valued it higher anyway So I ended up anyway, I ended up small green on it after being small red So, you know a win, but feels like a loss, but that's trading anyway Any questions you guys have or you guys want to go over your trades on it, you know Feel free to feel free to DM me Aloha