My Trade Recap: Base Hit Day +$733

Ross 4.29

What’s up, everyone? All right, so here we are, sixth consecutive green day which certainly feels good. Tomorrow is going to be the last day of April. Now this morning when I was looking at the gap scanner, I knew as soon as I pulled it up, today’s not going to be a big day. Today’s going to be a basic day at best. I might not even take trades today.

And I knew that as soon as I pulled up the scanner and saw that our biggest gapper was only about 20%, which is not a very big gap, considering last week, we saw several days with 50, 60% gappers. The fact that the biggest gapper was only 20%, the fact that we didn’t have any stops on the scanner with a really low float below 10 million shares… Remember, float is the level of supply, and to create those big moves, you need to be in balance between supply and demand. And so when you start with a low level of supply, that makes the equation that much faster that you get the imbalance, but today there was nothing that really gave it to us.

Couple little opportunities here and there. I hit a couple of them, missed a couple of, and you know what? I’m just happy to be closing the day green, so sixth consecutive green day in a row. Going to try to make it a seventh consecutive green day tomorrow, and we’ll be live streaming right around 9:00, 9:15. Make sure you guys are subscribed and have the alert button pressed so you get the notification as soon as I go live. All right, everyone, so I’ll see you first thing tomorrow morning. I hear a stock hitting the scanner, but I don’t think it’s going to be anything worth trading, so closing up shop today and we’ll be back at it tomorrow morning.

All right, everyone. So I’m going to finish up here today right around 10:30, up $733. Bit of a slow day. Not surprising. PRPO is our leading gapper, but of course, the issue today was that our gap scan… The top 10 or so gappers and even LEDS, only 12 share of volume. This gap scan was not a very good gap scan in the sense that the majority of stocks were either too cheap, too expensive, or the float was too high.

PRPO was our leading gapper this morning, and it was looking great around 8:15, 8:30, 8:45. Even coming right up to 9:00AM, I was like, “This one looks really good.” It looks similar to RBZ the week and a half ago or whatever. Because it’s dropped big time yesterday or Friday and then totally recovered, and that can sometimes create a really powerful squeeze effect, especially over $8 on a daily chart which then would give us room up towards 9 and then from 9 up to 10, 12, and so on.

1 2 3 4
View single page >> |

Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Alexis Renault 2 years ago Member's comment

What's a MOMO scanner?