 Hey everybody, what's up? Austin here Gonna do another trade recap today on my trade SAEX the day after Valentine's Day Funny how SAEX always seems to go after Valentine's Day or around Valentine's Day but um Yeah, before I get started. I want to say that I'm not licensed or registered I'm not a financial advisor and this shouldn't be taken as investment advice even if it sounds like it That being said, I did have a good trade on it and I'd like to go over some of the reasons why I got in I'm doing this over the weekend so my arrows are gone But I have this the chart that I saved immediately after I Took the trade and left That's right here, and I want to go over. I think that's it I want to go over why I got in like why I could have been either why why I could have been eager on it and why I sold and And all that stuff So this was my trade on it bought in the morning sold the rip, you know, nothing I think I left a little bit on for You know hopes and dreams But this definitely Candidt when it when it failed that 550 for sure Yeah, so let's go over it. So the first thing I do when I Approach a trade potential trade is I look at the daily chart Because I want to know normally in small cap line I want to know if it's true or not now I don't have to with SAX because I know the company. It's it's a perennial turd bag It has forever and you can see on the daily chart like it's the they just they like to keep their float small and You know, they they sell and reverse split and sell and reverse split. It's one of those guys So I didn't have to look at that because I know this company already But I looked I still want to know and I look for the most relevant information Which for me is the information with volume or the most recent information or both And this is the part of the daily chart that I cared about and the most important part that I cared about was this level right here the most recent perk off off of a low Was right here 475 because because we were gapping right here This is this is the level that I thought was going to be relevant because we were gapping right there So this 475 level was important to me because of that's where we were opening now Given the daily the daily The daily support slash resistance right there. It's a very important daily level here The 475 most recent the fact that we were opening right here at around that level made it a very critical level In my opinion it was the level that I really cared about. I wanted to see like going in to the open I wanted to know like alright, so here we're gonna find out if 475 is going to be Resistance or support. I don't know, you know, I'm just looking at price action to see the news was That Morgan Stanley had increased their stake I believe yeah, and that's another like just like rvz and just like you know all of my other hype factor Longs like that's height, you know like that's what that I was looking for along at the open So what I was looking for was to see if that daily support If that daily level was going to act as support or resistance if the market was going to you know Treated as support and as you know as a you know base as a platform to springboard off of from this news Or you know people weren't going to care about the news and it was going to act as resistance now going in I had a long bias because Morgan Stanley being one of the biggest investment banks there are You know any you know an increase in stake by Morgan Stanley Even if it you know even if it is bullshit even if it is to sell that's hype like people are going to be like Morgan Stanley bought it. I'm buying it. You know, that's just another example of a kind of hype factor Like this time it wasn't a blue chip company it like investing or partnering with the cup with the stock It was like an investment make a big name something that can get excitable something think that can that can Continue some momentum so going in I was really hoping to watch and see if 475 was going to Be support. I wanted it to be support. I didn't want it to just kind of top out at 475 and fade off that I wouldn't have like that You know unless we got a reclaim on it later, which would have been another good situation but here let's zoom in here at the open and We're opening right here right here around this 475 level and just I am going to put a horizontal line here 475 let's move that up to 475. Yeah So we're opening right here, you know and right off that we tanked out of the open and You know, I was looking and it before I knew it like I think I was watching a couple other stock too before I knew it. It just spiked up and I actually watched the spike and I actually had a lot of FOMO right here It took it took some willpower for me to not buy it here And the reason why I didn't want to buy it was because just because it popped through 475. That's not necessarily Enough for me. That's not that wasn't proof for me like just because it decides to like You know it tanked pre-mark and then it like rips back like that's not proof That's just it trying, you know in my opinion like it did take some like some phone wall because like I was like Oh look 475. It's poor to trip and but I was able to you know, suppress that FOMO and not buy here Because I probably wouldn't have sold right here And I probably would have you know been unhappy that it tanked anyway But for me, this wasn't enough and I was able to Stay disciplined and not buy this but then like and I was worried that once we were here I was like oh man, I missed it You know like you know and I'm not gonna chase it up here like I miss it It's gonna go to 5556 like and you know, I accepted that and owned that you know That was definitely a possibility but then when we tanked here this now this is this was my opportunity and You know, I could have did bought it But and you know the way I like to trade and the way I like to buy breaks I like to buy breaks because I like to see my support thesis prove itself And this was the opportunity for the stock to prove itself I know it showed that it had interest out of the gate look at the volume It was it was insane, you know, but I'm not insane, but it was really strong And so I was like okay, perfect. There's interest in the stock people like this idea people are excited about the Morgan Stanley The news, you know SAX loves to keep its float low So like I I think it had like a two million or something million like that's perfect for me So I'm looking to see now. We're re we're getting a retest a Re a chance to prove Ourself at this 475 level right here on that. I'm gonna put a line here, too. Just right there like 475 That's close up. So Yeah, so it's right like we're getting this test here and it's you know proving it's tried to tank here and we're holding and You know like I love that we perked back and I was like alright. This is still alive Now normally this is not a buy normally I wait for like like some kind of curl or something To try and fail one more time But as I said in other videos, I think here's my trade I like to get my feet wet sometimes and this is one of those times and normally when I like to get my feet wet Like the decision the determining factor for that is normally if I feel like if the floats really thin and like there might it could It could potentially just erupt and SAX. I know is one of those kinds of stocks You know, especially with the float being like two million ish There's a potential that it can just go and like if it goes I want to be in you know some but like so I put on my first starter as it popped their VWAP here nothing big just the the the feet wet starter and Then we got my curl that I like but for me. This was a little bit premature Like I didn't like that it happened to right away like I wanted some time some kind of consolidation so that I could like Key in on the volume and like if the volume was going to stay strong You know that was going to support my thesis that like it held that it was going to hold this 475 support So I but you know, I ended up did buying because I wasn't in enough for me Like for me to be happy with it and it was proving so I did get a little bit more here it's still not full and I was actually kind of happy to see this this tank here like because I felt this was a little bit premature. I was happy and And now I'm honestly I'm just waiting for a higher low or I'm or I'm selling under like my 475 480 You know 480 level here. This is where I like where I'm risking at this point And we get the one more consolidation so you know from the initial perk We get like this time That's this 10 or 15 minutes that goes by here and now I really like it the fact that it tried to reject 5 and came back Holding VWAP You know like it not even not even be able to test like I'm really liking that It's just it's just not giving any relief for any kind of shorts like it's just holding It's the volume is staying strong. We got the strong 110,000 share perk a strong 200,000 share perk and When we finally broke over this high I was in I added I added the rest of my shares I'm now risking this this 490 area or the where the last dip was and I have a solid risk like my average was about five for the trade. I think it was like 499 and Now this is we're knowing SAX Kind of gave me a little You know in height a hindsight Really good sell like I know that SCX is a perennial ship bag So of course I'm definitely selling some like I have to sell some if if this popped up here and dropped And I didn't take off take any off. I would deeply regret the trade. So I had to take some I gave it some time You know, I gave it some time here to consolidate and I just like every every push seem to stuff And this is where like I already had most off into the perk and I'm just playing with like the last third or so and I'm just you know, I just decided I was gonna can it it was a little bit early You know, I didn't wait for it to break 540 when it did break 540, you know I was definitely done here Like I wasn't gonna hope for it to come back and turned out to be the good decision in hindsight You know if it went up higher like I really even wouldn't have cried because it's SAX And it's such a as we went over the daily chart. It's such a stuffy chart like I expect pops to get sold into And It kind of goes back to the bias flipping like why can't I flip the bias? That's for another video No, I'm definitely struggling with the idea and I want to go over why but as far as the long thesis it's It's it's strikingly similar to a lot of trades and one thing I want to go over is it's strikingly similar to solo And that's another thing to keep in mind by the way Like my long on RBC and my long on SAX these two happen like a day or two After the big move the big one solo happened and solo is kind of like was in my opinion was the the stock that Ignited small caps again it created a whole bunch of these sympathy runners and it kind of changes the sentiment a little bit to where Longs might be a little bit in more control after solo shorts may be a little bit more afraid and longs may be a little bit more aggressive I'm also taking that stuff into account with my trades on RBC and SAX like I'm I tend to be a little bit more aggressive when I feel that Shorts when I feel that the market sentiment has kind of shift towards longs a little bit But anyway, it has a strikingly Similar comparison to solo when I was talking about Solo on on its first day of the move over here When when when solo popped in I when I did my video on solo I think I told you like hey this 165 level is pretty important and we were opening right at That's 165 level. So because we're opening right at that, you know that daily support level It's different if we're like opening way above. I might be short biased if we're opening You know if it's like I guess I don't really do gap downs But if it's like a gap down and we're well below support Hey, I might think like we might like come back to test it or something But when we're opening right at the level, it's almost like You know, I'm waiting for the market to tell me what's this level going to be I sit back I'm like what's this level gonna be it's gonna be support or is it gonna be resistance and And just like solo like you can draw a line here That's not it. You can draw a line here at 165 which is the which was that daily level here draw another line here That's right. Okay It's close enough. Yeah, it's right there on the daily chart like that 165 line It's not proving to me that it could go down like in fact, it's springboarding off and like you know, this is of course hindsight analysis, but This actually when I saw SCX it really reminded me of the solo and it kind of helped to confirm my thesis The price action helped to confirm my thesis my long thesis already on SAX. It looks very similar The the setup that we're opening right at the level and I'm waiting for the market to tell me what that level is going to be Is it going to be support or resistance? If it's you know, if I have a long thesis on a stock and it's and the price acting is showing me that the daily level is acting More like support and it really helps Like give me the confidence to to enter my long trade so I Just wanted to point out that resemblance there with the SAX trade and the solo trade. It was really really similar So just to go over it one more time You know the thesis is that Morgan Stanley is going to create a lot of hype and I'm long biased on The stock at least for the morning or for at least a spike or you know I think there's going to be some kind of hyper momentum to it That's a thesis of the trade and now I'm just looking at the price action to say when is it? you know, is the price actually going to show me that or indicate that I you know, I might be right and We we kind of tank here at the open and we rip back. This isn't enough proof for me But then when we come back to try and like I really liked this candle this this kind of fake breakdown here When we were going to tank and then we would come back This is kind of like the second chance the second time that it's Failing to like it's proving that it can hold for 75 and then it can't break down And so like, you know, I put on my starter You know, no knowing that the market sentiment has changed a little bit from a few weeks ago Like, you know longs might you know people shorts might be a little bit more fearful Longs might be in a little bit in more control. So I'm I I didn't wait for my Full setup, you know, I put a starter on and let the trade develop a little bit and prove to me that it was You know working before I wanted to put on more shares if this would have faded off right here fine you know the 475 didn't work and I would have gotten out and I would have gotten out on the starter now if it would have came back, you know I might have if it would have came back and like fake breakdown at 75 and came back and like did another's kind of set up Over here, maybe I still might have gotten in that long, you know, like hey That's a longer consolidation and I would have had, you know, like maybe another hour Or I just pointed at my screen like a dummy. I would have had like another like 30 minutes or so Or an hour however long it took to show me like for the volume to show me that like hey This is high volume or maybe if it was a little bit like low volume or dead volume I might not have entered the trade like there's a lot of different ways this could have set up But you know, this was this this to me proved that 475 was acting as a springboard So I got in and and I got out and you know, it happened to be the top But that's hindsight like I didn't I didn't know it was it was gonna be the top I just kind of lost a little bit of patience, you know, knowing that it's SAEX in the long run and it's a turd so that was that was that trade and you know, I Like it like that's that's the end goal of every trade right is at the end of the day to not regret any of your decisions I don't regret anything that I did on this trade. I guess if I could have done one thing better I mean if I could have done one thing better You know, I guess I probably could have added right here. I guess but again, it's not really that's hindsight I probably wouldn't have changed much of with this trade actually. No, I really like this one so I Guess everyone always asks what your risk was here my risk was for like this low 470 when I got in here at like 490 and When we perked here my my risk kind of moved up to 475 to 480 because with but by then like I'd only be in half so like I'd be willing to get back in and You know when I bought when I bought here my last final shares at the 510 break With the potential domino effect to break 520 over here, you know, this I see as a potential domino You know, I'm buying here because I'm okay with I'm adding here because I'm okay with raising my risk to this for 49 485 level now So, you know like I always look at a trade like You know, I'm only willing to add on a trade if I'm if I'm willing to Kind of raise my risk a little bit That's kind of like the philosophy I like because I don't like to add to a loser I'd rather add to a winner and a rule of thumb. I like to do is like if I wasn't in the trade Would I get in here? And if the answer is yes, it's a good ad spot. The answer is no might not be a good ad spot Yeah, so that was this trade and I hope but you got something out of it Let me know if you have any questions or just want to talk or Whatever. Anyway, have a good day. Aloha