Scaling into the Squeeze!

What's up, everyone? All right, in  today's episode, I'm going to break   down my trades from the morning. There was only  one obvious stock during the pre-market session,   and it was the stock that was on my watch list  yesterday. It was the stock that was our leading   gainer after hours on Friday. B I Ya. Now,  it's a Chinese company. Well, technically,   it's a Cayman Islands holding company that has  their operations in China. It was up on no news,   which by default made me a little nervous about  it. But on the other hand, we've seen a number of   no news Chinese and Singapore foreign listed  securities that have made these huge moves.   So I didn't want to completely write it  off. My expectation was that because it   closed strong in after hours on Friday that it  would continue during the pre-market session.   And that was correct. So let's go ahead and jump  on the screen share and start breaking it down.   BYA is currently up 67% having pulled back a  little bit at the opening bell. But you can see   that if you took a trade on this right at 4:00  a.m., you certainly were able to do quite well.   It popped up at 4:00 a.m. on continuation from  after hours, then pulled back, pushed higher,   pulled back, popped up, pulled back, and then  squeezed right here at 7 a.m. I was watching it   at 7 a.m., considering taking that trade, but the  two topping tails had me a little nervous. I was,   and actually the third one right there on this  candle, I was afraid that it was going to pop up   and drop very quickly. So, it definitely squeezed  up a lot more than I was expecting right there.   But then this little pop was premature. It  rejected. I didn't take any of these trades   right through here. But I did finally punch it  right here. So, why did I take that trade? Well,   because it held up as well as it did through here.  It broke over the resistance. It came back down.   It retested it, proving that 684 was support. Then  it starts to curl back up here. And I thought,   where's the level? Where's the line in the sand  where if this price breaks, it's going to go?   And I thought, well, the high right there  was about, let's see, the high there was um   680. No, what was that? 7 um 756. Then the high  here of day was 775. And so I was kind of looking   at these areas here. And as it started to pop up  or pop up right there, let me jump on to the one   minute chart first and then we'll get into the  10-second chart. I felt like it was worth taking   a stab. So you can see right here we had had  this pop pulled back popped up this rejected it   dropped back down comes back up and then right  through here we end up breaking this level and   squeezing up here. So, it was right here at 750  that I took my starter. I added at 760, added   at 785. It squeezes up to 8, 8:15, 825. I take  a little profit, goes up to 830, it dips down.   I buy the dip. It pops back up for a second. It  drops back down. I sell the rest right around 8.   Then it pulls back. It comes up here. It rejects.  So, now we've got a almost 2 million share candle   here. We've got a topping tail. And this is kind  of the theme that it pops up, but doesn't hold   these levels. Then we were unable to break through  this 816 level. It made a couple attempts at it   and I said, you know, I'm just I'm not going  to mess around with this anymore. I feel like   the theme is too well established that every  time it pops up, you have a topping tail.   And that means that short sellers are going  to feel comfortable adding as it goes higher,   expecting that flush back down. So heavier  shorting, lighter volume volume on the buy side,   that's going to create smaller and smaller pops  until eventually it just rolls over immediately.   And that's what ended up happening. Now, if the  company actually had a good catalyst, that would   support more buying. But because there's not a  solid underlying catalyst to support the move, uh,   long bias traders are playing hot potato. We'll  trade it, but we don't want to hold it for very   long. And that's very typical. Hey, by the way,  you may have noticed I'm wearing my green shirt   today. That's right. This is my lucky green  shirt. In fact, if you tune in to the channel,   you know that I find that wearing green brings  good luck. And so, I wanted to find a way to wear   a green shirt every single day of the week. And I  figured it out just like this. Yes, it's true that   uh you can be superstitious uh and still end up  u being successful. I suppose uh my technique   is to outsmart the superstition just to stay one  step ahead of it. So, for instance, you can't walk   under a ladder. We all know that. Unless you're  holding a newspaper over your head. If you hold a   newspaper over your head, then that's that changes  everything. See, it it this is the thing. You got   to really get dialed in into what the superstition  is about. You're superstitious about walking under   a ladder. Why? Because you're worried that a  painter who's painting above you is going to   drip paint. It's going to fall on your head. And  that's bad luck. You hold the newspaper, you won't   get any paint on your head. There's no bad luck  involved. See, this is the way you have to look   at things. You can wear a green shirt every day  of the week as I am now. We've got green, green,   green, green, green. And I'll put the link in  the description if you guys want to check out   the green shirt. I would love someday to see one  of you guys walking down the street wearing your   own green shirt. And this, by the way, is my  own handwriting. I took a white paintbrush,   painted on a paper, and then we put it on a  t-shirt. It looks great, if I do say so myself.   So, with that, um, today actually ends up being  a $26,000 green day because I stepped up to the   plate with that one good trade. So, I had a big  entry there. I jumped in, I add to the position,   scaled into it, scaled out of it, and I ended up  having a total of three trades through this area.   Um, and it was one winner and then two losers,  but I was only up 26,000 at the most. So,   the first loser gave back some unrealized profit  by increasing my cost basis and I stopped out   break even. Uh, so I lost on the shares I  added. And then the second loser was when   I was buying this dip looking for the curl back  up. Um, I basically did two dip trades in here   before finally giving up and saying, "Nope,  that's it. It's not going to happen."   So, a total of three trades with only one winner  is 33% accuracy. But because the winner was so   much bigger than the losers, um that that worked.  So this was how we started the week. Um you know,   on the one hand, oh, and by the way, we had GVH  this morning that popped up and is now down 57%.   Yikes. That is a little scary. This actually  had news out too of um this expanded commercial   distribution to a platform with over 90  million registered users and the stock's down.   This is unbelievable. now 60% nearly 60%. I mean  this is just this is kind of insane. So from   the top of the move which was at $9 that was the  peak uh we're down like 70 almost 80%. Yikes. So   that's a reminder not to just hold these if it's  not working. I just get out. I cut the loss even   if it feels big at the time. I cut the loss and  I move on. So, uh, yeah, overall today, you know,   it was better just to focus on the one stock that  was the leader, the one that was obvious. That was   at least the safer of the options. And although  it didn't give me a bunch of opportunities,   I missed the first one at seven, but I got this  one right here. And that was enough for me to   hit uh 26 nearly $26,000, which is um five times  the daily goal, which is 5,000 a day. So, a solid   green day here. and I'll be back at it first  thing tomorrow morning, 7 a.m. So, those of you   guys that want to check out my twoe trial, link is  also posted in the description. And hopefully I'll   see you guys in the morning. Reminder, as always,  trading is risky and my results aren't typical.   So, manage your risk by practicing in a simulator  before you ever put real money on the line.