 Austin here wanted to do a trade recap going over OCX a really fun trader today And a really frustrating one for me because I didn't get the result that I wanted Anyway, let's go over it So OCX was One of my favorite kind of plays I'm gonna get into this. This is a pattern that I have grown to like It's become one of my favorite long patterns Let's see here. These are my trades on it and I kind of traded it ugly today Yes, so this was the day so Not gonna lie here. This is so ugly. I was one of the Stupid longs, you know, I was one of the guys that that bought this perk that thought it was going up You know and you know, I ate it. I ate it. I took this for a loss. I bought it here There's actually a little sell there. I think that was a accidental Because I got right back in Yeah, so it's not so bad like I didn't just initiate the trade up here I I bought down here and I accidentally sold it. So I had to get back in But um, yeah, I ate this trade and You know, I was very impatient with this entry, you know, I kind of let fun will get the best of me on this trade In the sense to where I knew that this was a setup that I liked I knew that it was one that I wanted and you know, like last last week or a few days ago See a lot of didn't work out for me And this was kind of a similar play and I was like also, you know, that one didn't work This one's gonna work and that's you know, that's a fallacy thinking of course But I was just so excited that I did FOMO it a little bit up here and I did pay the price But you know, it's just you know, I took a loss and then I waited for the setup to develop and just like all of my other long trades I like to see failed breakdowns You see a failed breakdown and then, you know, then you're looking for the entry and this particular one Sometimes I like to wait for inflection points and sometimes I feel like they're not gonna give them and this one I just had I just had it in the gut that this wasn't gonna give that secondary inflection point Like like the first one did I wanted to buy it over this level here and And I even I got a little bit greedy. I got a little I went in a little bit early This this one after it failed to break down Something just told me that the reclaim of four and VWAP all right here together After a huge stuff that it was just gonna go, you know It was just that gut feeling like and and I had just taken a loss and I knew I wanted to be in I had a nice risk here on 365 and you know, we were below four and I knew that if we could get past If we could get past into the 440 that's very well decent risk to reward My idea for this trade was that it was gonna test site five right off the open and So that's kind of why I got the FOMO here, but Anyway, so onto the pattern this is this is a pattern that I like to call the power three And the power three means the first aspect of the power three is a low float It's got to have a low float. It's got to have high volume And I and I really like the high volume steady Consolidation that we've been talking about sometimes just high volume can be enough proves that there's interest in the stock And the third component is something that this had Something that MRI and had an Nbev had something that Something that is is very subjective though the third aspect of this power three is a really Juicy news and and sometimes it's fluffy sometimes. It's fluff news, but it a fluff a news full of fluff can sound juicy and and This particular news You know, they they had that That successful results of their cancer their lung cancer test and the juicy part of the news was commercial availability in the second in the second half of 2019 That was what did it for me They also threw the billion word and you have to be careful because there are a lot of words that a lot of PRs Will put out and you know, you'll recognize these words as potential like potential Potential revenue and it even said that here a potential market for like 4.7 billion or something And I and I took that into consideration But commercial availability in this year Was something that I thought was going to catch a lot of years and normally my rule of thumb For what I considered to be juicy news is normally news that I consider To not everyone's gonna hear it on the first day such as this is something that like Someone who's vaguely interested in stocks or someone your neighbor might bring this up to you or someone you meet at the bar Someone's gonna bring up bring it up to you if they know you trade socks and say hey Have you heard about that company that X? You know Ryan had that deal with MRI and had that deal with Google. That's obviously a much better news this one Wasn't that good, but it was still excitable and they've had that coke news You know like coke was getting it was you know rumored that coke wanted to get into the cannabinoid beverage business and and that was the cannabinoid beverage company that was trading at the time that everyone had its attention on so that's you know That's the news that sparked that So those are like, you know top-tier Juicy news. This was a tier below, but still I found it enough to be Excitable enough for me to count it into my power three the low float the high volume Relative high volume relative to the float and a juicy news something that's going to get People excited and something that potentially can be heard about the next day by non traders even So OCX had this and I want to point out something else Is the volume? before this before this Before OCX started trading today, we had a significant amount of volume We were in the first like pre-market and the first five minutes of the day I knew because this stock had never traded more than like two million. Oh, here it is. It's so it's so low You can't see anymore. I mean just See the biggest volume day ever was about two million and I knew going into the day that we were gonna just smash through that You know, we were already at like 500,000 or maybe almost close to a million pre-market So I knew that like as a second the open like we were gonna just crush through that And so going into it today I knew that this was gonna have the biggest volume day it ever had whether it was a red day or a green day But to me it had a low float I knew it was gonna be the highest volume ever that the stock had ever seen and It had juicy news. So for me that screamed This is gonna squeeze. This is gonna this is gonna buy this is gonna be a buy And in fact, I I even hoped I I prayed that it was gonna tank at the open so that we would get a squeeze Because I would much rather a tank at the open Get get a whole bunch of trap going on and then I ideally you know buy that my classic consolidation set up But when it kind of didn't tank at the open I did get a little bit of FOMO and you can see that right here. So once we got the tank That's why I was willing so willing to get back in because this tank this failed breakdown This trap is what I was waiting for in the trade So I immediately got back in and even doubled and I was actually in pretty good size on this trade And I royally effed up. I I took you know to the hour Like I still don't know exactly what I did sometimes on DAS when you hit your montage your Your size automatically goes the size and the love to automatically redirects to your position size I think that's what happened I went to sell a piece and I accidentally sold the whole thing like I had that order already in but right here when I was trying I think I was trying to put in an order To sell a piece and I either You know it reverted to my full position size and I sold it all or I could have like You know, I might have been trying to I think I was trying to put a 480 order at the time And I think I'm gonna put 380, you know, and I think I might have sold it You know all by accident there, too. I'm not exactly sure what happened But somehow I ended up selling all of my position and I was screaming My broker like my broker I was I was just livid. I was I was yelling in good fun. I was like, oh, no This is so awful But anyway, so I missed that huge move anyone who knows me This was my scout part of the trade this would have been the trade and I would have tried to hold the home run for longer Oops. Oh, it's DAS said it was time for the arrows to go Okay. Oh, yeah, it's it's about that time. Hey, that's seven. It's 7 p.m. Here in Hawaii That's when the arrows goes goes off apparently Anyway, well, that was unique timing Anyway, but I probably would have sold that other third there But anyway, that's that's what I wanted to go over with OCX is this was kind of what I like to call the power three play It had everything it had the low flow. It even had significant ownership Insider and institutional ownership. So that played a role, too You know, it's all these pieces of the puzzle that that fit together But you can see like it's it's a very classic pattern It's after you get if you wait till after a failed breakdown and to get in like You know a reclaim a failed breakdown all right here These are all bullish signs, especially when like, you know, you're already you already know going into the open You're gonna have the strongest volume day ever like that that's that's what I Learned to stay away from on the short and it it's become my favorite like one of my favorite long setup a very similar trade happened or Idea happened with C LRO and I want to talk about the difference between the two. I wanted to go over this trade before But I didn't get to it. Oh the arrows are gone. Oh, that was a couple days ago. Anyway, anyway, this was my C LRO trade Same this day this day here Yeah, so where I kind of same thing I got a little bit of FOMO at the open because like I was using that 235 is my as my point of inflection But this is why I typically don't like to buy at the open like I got dumped on I don't know. I don't remember if it was a Furu or something But like I definitely got dumped on but again once we had that like that failed that failed breakdown like I will I knew I wanted to get in because I knew C LRO is the same idea C LRO I knew that this was going to be the biggest volume day ever because the most ever before was like 2 million And we were already there at pre-market So that was another factor but the one difference that I learned that I wanted to share with you guys is The range on this stock was very low, you know, like the range of this stock the daily range It's it's typically not very good and you could tell in pre-market here was moving like 20 you know 250 to 220 is a 30 cent range so That that's not very high. So when it I should have waited for it to tank first To get to even try but when it did tank and here's my trade on it when it did tank and I got in it's not reasonable, you know on a stock with like 30 or 40 cents of range for it to go all the way to 210 and by the time it gets up to 250 without a Significant pullback and that's not very significant for it to break You know it traveled this far because it traveled so far to get to this resistance level I shouldn't have been expecting it to break, you know, I shouldn't have put too much faith in this breaking whereas The OCX trade it didn't have to travel that far the OCX trade You know it had put in a significant range Pre-market it showed that it had a lot of range and you know the high of the day or the pre-market high was 435 And 440 high of day this isn't that you know that this isn't that big of a range compared to what it did pre-market And what it can and you know what it can do on the daily see this isn't that big range So a move from 360 to 4 I can expect that to break, you know 440 I can expect this to break given the daily range and the pre-market range and And the liquidity of how it was trading this this morning all that comes in the fact and that I feel like that's a key difference between OCX and CLRO on you know, they both had that biggest volume ever day thesis in the thesis of the trade But the difference was that the range wasn't there on CLRO and It essentially exhausted all of its range by the time it got up to the resistance by the time this got up to the resistance It had just recovered from a stuff. It's a very different context so That that's what I got today. Here's my trade on it one more time Like I know the arrows went away, but yeah a little bit messy got FOMO But once I got my failed breakdown and you know I got the tank first and then the reclaim like all of my other successful long trades have been It worked out beautifully and I just you know, I just effed it up You know, I thought about it all day today, you know, and I want to point out by the way That when I was trading these up this up here and I have these gains These this is not on the same size as I'm putting on here This is an elevated net. This is way elevated now I don't have the same Comfy risk as I did in the morning these trades are significantly smaller than these trades and And at the same time like You know these at these trades are actually a little bit smaller than these trades because I knew I was chasing after accidentally selling here. So, you know buying into strength is You know, I you always got to manage your size when you long when you buy in the strength because dumps can happen And so like I much prefer to buy Perks off of a bottom with more size than you know perks into high of day or after it just ripped a new one And now it's up 200% on the day. These trades are significantly less size than when I feel I've captured the bottom Anyway, I know that was a whole lot. I was a whole lot to swallow But I hope you got something out of it. And if you have any questions, please feel free to PM me and chatter message me on Twitter or you know at me whatever