$10 in 2 days?  You’re welcome.  LABU pays off when I call it live in the chat.  Risking very little, and gaining a ton is the kind of trade I like to make. 

It’s the kind of trade everybody likes to make, but rarely gets a chance to.  Pharma and bio stocks were in the news on Friday and I still honestly don’t know why.  I don’t pay attention to news because I’m a pure technical trader.  The news I don’t stick around for is earnings and fed minutes releases.  

During news like crude inventories or jobs #s, you will see “big” wicks up and down.  The market will go and take out tight stops around the area that it is in and it will then either a. move in the direction it was going to move to, but faster or b. move in the opposite direction and break the setup.  I trade in the bigger picture. I do have to go into the smaller picture to gauge my entry.  

On Thursday, I bought some LABU at $79 and it reached a good 1st tgt of $84.  On Friday, I saw it held $79…I was going to try again.  

Early morning trades are not something I usually do.  I will usually not trade the first 30 minutes of the market because just like those times I mentioned earlier, the bots are going crazy and trying to pick a direction.  After 30 minutes, everybody picks a direction and goes.  Sometimes though, the market will be set up to be in a position where I know what the direction is going to be before those 30 minutes.  Rarely, does that happen this early.  So I’m in. 

I got in as it was going to my spot.  I wanted it bad and it looked prime for picking.  When you see an opportunity like this, you gotta man up and be ready to fucking go.  You can’t wait because others will take your money.  I love this market because you have to know what you’re doing.  It’s a technical trader’s market.  It’s no longer the bull market we’re used to.  No more ,can an idiot pick a stock and it goes up.  You have to know how to read a fucking chart.  

So the day goes by, and nothing is happening. So fucking boring.  

Wags was OOO most of the day.  Nothing at all happening.  The market was taking a rest from the few days of kicking the bears’ asses.  When I checked back in near end of day to see how LABU was doing.  It was doing okay…setting up.  I took the opportunity and got some more.  

I’m in some more a little higher than what I got in at…and lo and behold.  

Followed by….

Something about Trump and news and whatnot, but whatever.  I was in this before our orange president said a fucking word and then after he shut the fuck up, we took off.  

$7 motherfucking dollars in a fucking day.  Followed by today with another $3.  LABU closed at 89.96 and I was buying that shit up starting at $79.50. All the buy points are above.  I’ll do this from time to time in the chat and just go off and throw in a nugget or 2 of pure genius.  Then shit will go the way I say it does and just respond with one of  my favorite gifs. 

 

-RM

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