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It's Harry Haas here and today I'm going to be going over an RIGL trade recap plus kind of talking about strong stocks and having kind of like a debate on that. As always, I'm not a licensed financial advisor. This is all educational advice and not investment advice. But without further ado, let's kind of get into this video. So yeah, RIGL, basically if you look at the statistics, doesn't really look like a good long off the bat. We're looking at a float of 168 million, obviously, held by institutions is 90%, but I mean, again, I'm not, I'm never going to trust something that says, you know, 90%. I mean, I could sit here and dig in the filings all day, but by the time it, you know, the time, but with all the time that it would take me to go in the filings and go super deep and calculate all these numbers, I would have probably missed the play. So I'm just going to kind of eyeball that. Obviously, we see some type of, you know, high institutional ownership here, even if this was cut in half, I mean, even if this was at, let's say, you know, 45 or, you know, 40%, I mean, that's still a decent amount. So, I mean, just eyeballing it. I mean, a lot of people are going to look at the float and say 168 million, you know, that's too much. It's not going to be able to do a dollar share move. It's not going to be able to go higher. And the stock was relatively easy to borrow on the day as well. So a lot of people are just going to think, oh, on the short side, this is easy money. Going to be a super easy short play, you know, nothing to worry about here. And, you know, that's kind of, I think, what happened. So some things that the stock had going for it, I'm just going to kind of run through these quickly before I kind of, you know, start talking about the stock. It had good volume. There was a new uptrend form. It was easy to borrow, you know, again, it was a higher float. So short sellers might think, oh, it's going to be, you know, harder to move. The higher lows along the way were super nice. It was above VWAP and it ended up being the hot chick of the day, you know, at least for that kind of morning period. So basically this stock kind of in the morning, you know, had a, you know, super big pump ended up, you know, dumping down, you know, definitely considerably from where it kind of came from. And then it just kind of faded off for a little bit. And I was awake in the morning. I saw the stock kind of come up. I saw this move kind of, you know, happen. And I said to myself, okay, well, I'm not going to be trying to trade this, you know, at 3.4. I'm not going to be trying to trade this at, you know, 3.6. It's just not going to happen for someone like me. And then we got this kind of super big candle and this kind of fade. So obviously in the pre-market, a lot of people are going to say, easy short, obviously it's just a pump and dump. You know, a lot of people are going to be thinking stuff like that. So for me, that's an edge to know that a lot of people kind of see this type of price action and think, wow, this is going to be a super easy short trade for me. And then so we kind of got this grinding action. We started kind of going a little bit higher. We got a pullback and then we got some consolidation. It was having a really hard time breaking three. So obviously we just kind of got this, you know, consolidation. It's basing kind of below three. And right before the open, we got this kind of pop. And I was messaging in the chat room saying, you know, is Farmer in? Is Farmer in this stock? People are saying, no, he's looking at another stock. So right off the bat, I was saying to myself, okay, obviously, you know, this isn't Farmer. Obviously this isn't really like a chat room. You know, he's looking at something else. So, you know, I kind of liked it. And I was watching it at the open because the other stocks that were kind of up on the day, I believe it was IMV. I think that was kind of back side. There was another one that was kind of back side. Maybe it was like EQ or something like that. So we had the whole kind of long crowd looking at those type of stocks, you know, which, which I felt that I didn't really have a lot of edge in because usually when a lot of these like newsletter, chat room, pump people get in, it's super, super hard to long. And plus if you're stuck on the wrong side when, when the dump kind of happens, you know, you're competing against like 10,000 people all on like a YouTube stream who are all, you know, using these crazy hawkies and it's not, it's an artificial move anyway. So it just kind of throws you off completely. So anytime that we have that type of action as a long trader, you know, I'm just, I'm going to be completely, I'm going to be out. You know, I'm, I don't like that action. I think it's terrible. But anyway, I'm going to kind of move on to my trade now. I just, with TraderView, you can't see this kind of data. And I think it's really important for you guys to kind of see what I was kind of, what, what my mindset kind of was. Obviously the chart doesn't look, you know, amazing in the pre-market. Obviously, you know, it's on a super uptrending stock going in and looking for some type of dip and rip. Now this one was more so, you know, kind of like, I mean, it was just kind of trading in this kind of range pre-market and we got this kind of, you know, pop or whatever. And, you know, so for me, I just kind of said, okay, I just kind of, you know, took it as it was, and I wanted to see how it traded at the open. So at the open, actually, I'm not a strength chaser at all. I'm not someone who loves to buy into strength. But I was watching the first kind of minute and I was noticing that, you know, it was kind of having a hard time breaking down. And, you know, it was having a hard time breaking down under 320. And then it was having a hard time breaking down under kind of 330. So I just took some kind of here at like this 330, you know, or three, you know, whatever kind of level this was, 340. Let's just say 340. And yeah, we ended up going nicely higher. And then I just kind of sold into the pop thinking, okay, well, you know, we've done a ton of volume, you know, it was kind of stuffy into 3.8. So I took it off. And this 3.6, I didn't want to buy this kind of pullback. I felt that it was kind of too high. I felt that we needed to pull back a little bit more, which we did end up pulling back more. And I loved how this kind of 3.4 level was still kind of holding again. I really liked that a lot. So I took some here. I just sold into this kind of 3.6 level. And I was really expecting for this stock to kind of come down and kind of say, okay, you know, this was the front side. This was kind of the front side move. Now we're kind of looking for a backside move. And that's what I was kind of expecting. And as a long trader, you need to always expect that. Because we get this, you know, we get this good front side move. We get this kind of pullback. Now we're kind of looking for a lower high or, you know, I thought that, okay, this is just kind of a backside scalp. This is kind of a one-and-done and this is going to go lower. And I guess that mindset is kind of, it's good because it's defensive, but also on the other hand, you know, there's going to be situations like this where, you know, you need to kind of enter back in. And when I saw this 3.6 start to hold again, I was thinking, okay, you know, I was being very patient with it. You know, you have to think that these candles are one minute. So for one minute, I was watching this action thinking, okay, this is definitely got to go down. This is definitely got to go down. This is definitely got to go down. And it didn't. So then I'm kind of saying to myself, okay, well, you know, it's not going lower. It's not going lower. Maybe I can take some here, just risking, you know, the 50 area, which I did. And, you know, we're kind of struggling here, struggling here, seeing if it was going to go over. And then we got the pop to four. And this is where I kind of screwed up a little bit. And the main reason why I kind of screwed up a little bit is because I accidentally sold it all at four. And I mean, that was just kind of a fat finger mistake. I don't really make them often. But I guess I was kind of caught so off guard that this kind of had another leg to move up and that this one was going to, you know, keep going and keep moving. And, you know, it ended up going up, you know, an extra, you know, 80 cents. And it kind of sucks. It sucks for two reasons. Number one is because, you know, it was probably, unless you follow my watch list, where I kind of talked about this stock in the beginning, I was probably one of the first people to kind of discover this stock as a long trader. You know, obviously other people had kind of discovered it because we're getting the buying. But I was one of the first people kind of in and I was one of the first people kind of watching the stock. I was looking at it all morning. And I had felt like I had kind of almost, like I deserved to nail this move, you know. I felt that I just kind of felt robbed after that fat finger when I saw it go up that much higher. And, you know, as a long trader, moves like this from 3.4 to 5, to 5.2 do happen after the open, but they're kind of very, very kind of seldom. You don't usually see a stock, you know, come off the bat and run like this. Usually see like some consolidation over under view app and then a slow kind of grind up and that's kind of usually, you know, what kind of happens. But for this one, you know, we come up, we get a nice pullback and then we were able to move higher to five and that's not something that is common. It was common maybe two years ago, it's not really common now. Especially when a lot of people think, you know, this float is higher. So I kind of felt that I kind of got robbed almost. And so I said to myself, you know what? I don't want to give any back at a FOMO. I really don't want to. And that was kind of my mindset. I don't want to give any back. You know, I've done this well this far. I don't want to be the guy who revenge trades the backside and gets caught in a massive death candle. So I said to myself, okay, I'll give it one chance. And my one chance was that I wanted to see if this $4 level would hold. And I said, okay, if four doesn't hold, I can just stop out at three nine or even, you know, three eight eight with slippage or three eight seven or you know, whatever, I can stop out, you know, for a 20, 15 cent loss. And that's going to be it. Obviously it's on the backside. So I'm going to be taking a little bit less size than I would be on the front side. And the reason is that it's the same type of, you know, thing as Alex's rule where Alex says, okay, I'm only going to take 30% on the front side of my size. Thanks for watching guys. You know, I'm around anytime. And I hope this can, you know, educate you a little bit more on what I'm kind of looking forward to go long. And you know, I look forward to doing another one in the future. So yeah, that's about it. And I hope everyone has a great day. Thank you so much for watching our video. If you want to see more of our videos, please subscribe to our YouTube channel by clicking the button here. 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