Great video, thanks! The initial tape recording is from a different stock, though (around 26:41). I think he had a 2nd T&S opened somewhere on his screen, but I just wanted to point this out for the viewers, as he mentioned, it is a neutral tape. After he entered with his hotkey, the T&S box became active and the prints we say are from $CVNA. Cheers, Felix
That's correct, but this error is mentioned in the video with a textbox overlay at the right side of the T&S: "Time & Sales will change to CVNA shortly"
I bought the same breakout, but I am trading this as a swing trade. Meme stocks can go a long ways in bull markets, especially considering it's breaking out of a multi-month phase 1 base. Also, CVNA has a character of shorts piling on and repeatedly getting surprised, hence the big green candles followed by big red candles, but overall it's trending up. Of course I can't predict the future, so we'll see what happens. It's a just a video game after all.
I agree it was a late buy. But he knew the level was key and there was huge short interest likely with stops sitting there aka more buyers to puke. Generally that’s not a good entry but in this particular trade it’s fine to watch it confirm because what if all those bears just sold into the buyers and slammed it back down.
Excellent trade review. Thank you, SMB. In about 10 seconds the tape went from 2.30 to 2.51 (which also looks like a higher high) and that would be my trigger.
Bella, would love to see a video on your scoring thought process. That is something many developing traders like me struggle with. Thank you in advanced.
Can’t agree with either interpretation on this one. He should have entered at $29 when it clearly was on the right side of the V, reclaimed vwap and the 9 EMA. $29 is also a better level than $30 with this stock.
appreciate your input here. the trader identified 30 as a big level on the longer term charts. so 30 is resistance we have to keep in mind. long 29 looked great on the intraday setup but we have to recognize the resistance very near. not saying a long cant be made above 29. it can. but it is just a scalp then and you have to very cognizant that the r/r will work out.
@@joefeinstein6804 go back to the hourly chart and you'll see 2 enormous rejections at 29.90 and 29.81 on 6/29 and 7/7. I agree the tape and intraday made 29-29.50 look great but with a giant stuff previously I wouldn't be buying into 30 either.
To add that, a lot of very good traders fail at playing big amount of money because of this. When his size got too big he can get stuck in a position that gets him the worst case scenario busting a whole hedge fund. Bill Hwang was one of them. Liquidity never was a life threatening problem for this young man so it’s probably understandable. Hope he realizes it later he could be great.
Wow 🤝 Thank you both for your time to do this! I appreciate very much! Very professional. If you have done a similar review video with your Seniors and Traders already I'll 100% be interested to see their thinking towards their trades also! Thanks again. Donny
Interesting analysis. If you are so concerned about liquidity why don’t you just drop stocks and trade futures. As I’m sure you know, futures offers the greatest liquidity 1-4 tics depending on market conditions. Plus margin is extremely cheap compared to an index stock. In addition, why would you want to wait 2-3 days for capital to clear? Unless you are trading Penny stocks I really don’t see the advantages.
@@mbellafiore19 Thank you so much Mike , SMB lessons are awesome, you share your knowledge with retail Traders and challenge us to be everyday better, I learnt a lot about developing a true edge, my Trading and way to see this game has changed tremendously , Wish you the best and keep on learning from you!
@@mbellafiore19 I’m glad to see that someone is planning their trades and trading their plan. I’ll be next door scalping ES/NQ futures daily. 😉 And crude, can’t forget that money maker! 🛢️ Please let me know why stocks can even compete against the futures markets. I would be interested to know at least one advantage stocks have over futures… Be not afraid of greatness. Some are born great, some achieve greatness, and others have greatness thrust upon them. - William Shakespeare
I am taking notes. Choosing a stock. We look for a news or a technical catalyst. then we judge it. 10 / 10 We're going to trade 9 / 10 We're going to trade the stock. 8 / 10 Where probably going to trade the stock, but we're going to look for some price confirmation. 7 / 10 We're going to need to see a good setup, or some price confirmation. 654321 / 10 We're almost certainly going to pass. We want to save our bullets for a good trading. We need to check to see if it actually has the right liquidity for us to trade.
Volume had picked up a couple minutes before 10:00 (higher than the previous 10 minutes), and the candle which broke 29.50 volume was already up to the average-line pretty quick (I just went back and counted, it was under 20 seconds). To me that's really the breakout area with the best R/R, that pause at 29.53 (risking 0.15 to 29.38) literally made me start to reach for my buy key while I was watching this. lol....L2 Question: When the breakout happened I saw CHX in the L2 w/some size behind it (like 10X any other exchange/price) at the 29.43 mark; Made me think somebody didn't want it going below there again. Is that something y'all look for when placing stops on quick trades?
@@namir91 I'd worry about that when it got there:) I just like the R/R right there based on the L2. Could even take a little off if it stalled again at 29.90 and catch +1%, put it back on once it got over...Granted, I'm a fan of "cheat" entries if there's momentum to support it.
@@georgemcduffey2622 fair enough, as long as youre quick on the keys then that was a totally reasonable entry. Just explaining what I thought was the reasoning used in the video. Great momentum trade either way though, even with a late entry
When your TH-cam channel is the most watched stock market channel on the site, it can be challenging to teach a group of "college students" and complete newbies. A fantastic opportunity for a novice to learn about the market cycle. I've been saving money for a while now in order to invest it. I read of an investor who quickly gained up to $300,000 from a $75K investment, therefore I'd appreciate it if you could give me some tips and pointers on how to increase my return.
When it comes to retirement planning, it is critical to seek advice from a financial coach. I contacted an adviser/broker and under her guidance, I was able to generate enough passive income to sustain me during the pandemic when I was laid off, and I've decided to stop working entirely, currently living off my investments, which generate an annual return of approximately $400,000. So simply seek professional advice.
FIRST, I want to say I appreciate everything you guys are doing for traders!! I've also noticed that the options trading strategy videos posted by your team consistently, almost completely align with the techniques Im using when trading under whatever current market conditions are at that time! I share these techniques on my TikTok. Discord, and Instagram platforms. How cool is that? I invite you to explore our posting histories, as it's evident that we possess a shared expertise in market analysis and are apparently riding/reading the same "Wave length" so to speak. Lol Also!... I would really be interested in working on an educational project Together... Let's make trading even more fun and profitable for us ALL!
Intelligent combination of AI and blockchain technology?. ✨💰 SHIBA MEMU( $SHMU ) is here! 🤑🐶 the presale is just around the corner, but here's the catch: each day the price goes up by a mere $0.000225. really interesting! 💰🐶✨
SMB Trading Workshop: bit.ly/3rx1Mip
Great video, thanks! The initial tape recording is from a different stock, though (around 26:41). I think he had a 2nd T&S opened somewhere on his screen, but I just wanted to point this out for the viewers, as he mentioned, it is a neutral tape. After he entered with his hotkey, the T&S box became active and the prints we say are from $CVNA.
Cheers,
Felix
That's correct, but this error is mentioned in the video with a textbox overlay at the right side of the T&S: "Time & Sales will change to CVNA shortly"
Thanks for taking the time to release detailed trade reviews. Very helpful.
you are welcome.
I bought the same breakout, but I am trading this as a swing trade. Meme stocks can go a long ways in bull markets, especially considering it's breaking out of a multi-month phase 1 base. Also, CVNA has a character of shorts piling on and repeatedly getting surprised, hence the big green candles followed by big red candles, but overall it's trending up. Of course I can't predict the future, so we'll see what happens. It's a just a video game after all.
I hope you held to the 50's, had a nice opportunity to exit off the lower high at 53 last week, killer trade
Good clip Gents, thanks. Good coaching at the end Mike. I liked your comments about recognizing strengths. Thanks!
I agree it was a late buy. But he knew the level was key and there was huge short interest likely with stops sitting there aka more buyers to puke. Generally that’s not a good entry but in this particular trade it’s fine to watch it confirm because what if all those bears just sold into the buyers and slammed it back down.
I would be adding at the point.
@@davidedmundson8402 the retest of 30 would have been the perfect add, especially with that enormous volume breakout
Excellent trade review. Thank you, SMB.
In about 10 seconds the tape went from 2.30 to 2.51 (which also looks like a higher high) and that would be my trigger.
Can't wait for another book by you Mike! Great video, Thanks!
Bella, would love to see a video on your scoring thought process. That is something many developing traders like me struggle with. Thank you in advanced.
please can someone help with what is that Volume bar indicator is called , as we can see buyers and seller balance in that volume bar.
Can’t agree with either interpretation on this one. He should have entered at $29 when it clearly was on the right side of the V, reclaimed vwap and the 9 EMA. $29 is also a better level than $30 with this stock.
appreciate your input here. the trader identified 30 as a big level on the longer term charts. so 30 is resistance we have to keep in mind. long 29 looked great on the intraday setup but we have to recognize the resistance very near. not saying a long cant be made above 29. it can. but it is just a scalp then and you have to very cognizant that the r/r will work out.
@@mbellafiore19 I can understand that because just a few minutes ago I lost a similar trade that did another leg down. Tricky stuff this day trading.
@@joefeinstein6804 go back to the hourly chart and you'll see 2 enormous rejections at 29.90 and 29.81 on 6/29 and 7/7. I agree the tape and intraday made 29-29.50 look great but with a giant stuff previously I wouldn't be buying into 30 either.
What if we don’t have that tape?
13:43, guy says “BS”. Market only needs humbled ones so just listen to Mike’s words, best ones out there!
To add that, a lot of very good traders fail at playing big amount of money because of this. When his size got too big he can get stuck in a position that gets him the worst case scenario busting a whole hedge fund. Bill Hwang was one of them. Liquidity never was a life threatening problem for this young man so it’s probably understandable. Hope he realizes it later he could be great.
Please write another book ! Community needs it
CVNA had a huge earnings jump overnight. Went from 37 to 58 premarket.
8:32 how can inst. ownership be at 118.68% ?
You should definitely write another book Bella 😁
Wow 🤝 Thank you both for your time to do this! I appreciate very much! Very professional. If you have done a similar review video with your Seniors and Traders already I'll 100% be interested to see their thinking towards their trades also!
Thanks again.
Donny
Interesting analysis. If you are so concerned about liquidity why don’t you just drop stocks and trade futures. As I’m sure you know, futures offers the greatest liquidity 1-4 tics depending on market conditions. Plus margin is extremely cheap compared to an index stock. In addition, why would you want to wait 2-3 days for capital to clear? Unless you are trading Penny stocks I really don’t see the advantages.
Futures Market is awesome, it's highly liquid , it's pretty good regulated, also has tax advantages , no PDT rule for retail Traders
We want a catalyst. A catalyst 8 or better. AND AND AND a liquid stock.
@@mbellafiore19 Thank you so much Mike , SMB lessons are awesome, you share your knowledge with retail Traders and challenge us to be everyday better, I learnt a lot about developing a true edge, my Trading and way to see this game has changed tremendously , Wish you the best and keep on learning from you!
Futures and FX all day over stocks
@@mbellafiore19 I’m glad to see that someone is planning their trades and trading their plan. I’ll be next door scalping ES/NQ futures daily. 😉 And crude, can’t forget that money maker! 🛢️
Please let me know why stocks can even compete against the futures markets. I would be interested to know at least one advantage stocks have over futures…
Be not afraid of greatness. Some are born great, some achieve greatness, and others have greatness thrust upon them. - William Shakespeare
I am taking notes.
Choosing a stock. We look for a news or a technical catalyst. then we judge it.
10 / 10 We're going to trade
9 / 10 We're going to trade the stock.
8 / 10 Where probably going to trade the stock, but we're going to look for some
price confirmation.
7 / 10 We're going to need to see a good setup, or some price confirmation.
654321 / 10 We're almost certainly going to pass. We want to save our bullets for a good trading.
We need to check to see if it actually has the right liquidity for us to trade.
Volume had picked up a couple minutes before 10:00 (higher than the previous 10 minutes), and the candle which broke 29.50 volume was already up to the average-line pretty quick (I just went back and counted, it was under 20 seconds). To me that's really the breakout area with the best R/R, that pause at 29.53 (risking 0.15 to 29.38) literally made me start to reach for my buy key while I was watching this. lol....L2 Question: When the breakout happened I saw CHX in the L2 w/some size behind it (like 10X any other exchange/price) at the 29.43 mark; Made me think somebody didn't want it going below there again. Is that something y'all look for when placing stops on quick trades?
29.50 looked great but huge reject from 29.90 at end of june would keep me from buying into that level as well
@@namir91 I'd worry about that when it got there:) I just like the R/R right there based on the L2. Could even take a little off if it stalled again at 29.90 and catch +1%, put it back on once it got over...Granted, I'm a fan of "cheat" entries if there's momentum to support it.
@@georgemcduffey2622 fair enough, as long as youre quick on the keys then that was a totally reasonable entry. Just explaining what I thought was the reasoning used in the video. Great momentum trade either way though, even with a late entry
HA Mike is a Savage 😂🔥
The Dudes Senior internship was at stake with that CVNA trade
Thanks a lot !!!
Bella is tough !
Twitter better be around or there goes your free speech
Go go ahead...Wait, I want to point out something...okay....continue....stop, what are the......
Cvna? 😂
When your TH-cam channel is the most watched stock market channel on the site, it can be challenging to teach a group of "college students" and complete newbies. A fantastic opportunity for a novice to learn about the market cycle. I've been saving money for a while now in order to invest it. I read of an investor who quickly gained up to $300,000 from a $75K investment, therefore I'd appreciate it if you could give me some tips and pointers on how to increase my return.
Start with a substantial amount of capital.
When it comes to retirement planning, it is critical to seek advice from a financial coach. I contacted an adviser/broker and under her guidance, I was able to generate enough passive income to sustain me during the pandemic when I was laid off, and I've decided to stop working entirely, currently living off my investments, which generate an annual return of approximately $400,000. So simply seek professional advice.
@@HelenChaseKiddyEnamaine that's the ultimate goal right there
@@HelenChaseKiddyEnamaine please share deatils
Angela Shan Helms
Threads is already dying BTW. Nostr is more of a threat to Twitter than Meta is.
😀👍
Why don't you have women in your firm? is this a firm just for men? lol
FIRST, I want to say I appreciate everything you guys are doing for traders!!
I've also noticed that the options trading strategy videos posted by your team consistently, almost completely align with the techniques Im using when trading under whatever current market conditions are at that time! I share these techniques on my TikTok. Discord, and Instagram platforms. How cool is that? I invite you to explore our posting histories, as it's evident that we possess a shared expertise in market analysis and are apparently riding/reading the same "Wave length" so to speak. Lol
Also!... I would really be interested in working on an educational project Together... Let's make trading even more fun and profitable for us ALL!
Intelligent combination of AI and blockchain technology?. ✨💰 SHIBA MEMU( $SHMU ) is here! 🤑🐶 the presale is just around the corner, but here's the catch: each day the price goes up
by a mere $0.000225. really interesting! 💰🐶✨