Betting markets starting to favor Trump win....but I would think the "truth social" network does better with a loss than a win. No?  Despite what I thing, it seems pretty clear the stock has been shifting with a positive correlation to the election odds (the opposite of what makes sense to me but it happens)

The market did not love that grand slam by the Dodgers against the Padres. /es Fell off a cliff all of the sudden. I agree. It was rough, but I don't get the correlation. 

I kind of agree with this, but I'm talking my book. I only take positions in names I know and they tend to be higher $ value per share names.  If you're a new trader and working with a small account where you need the juice, I recommend pairing BPT with tasty trade principles (it can be done...because I did back in the day).  I don't love the daily ideas here outside of the norm because they are often flash in the pan type names doomed to fail after they do their spawning ritual which just sets up newbie traders to get FOMO and then get robbed.

And yeah, over the years, if I had a newsletter that listed the picks I took from BPT that were "flyers" you could have made a FORTUNE shorting my picks. Every time I pick one, it gets crushed. 

My suggestion is avoid all stocks under 10$ if you want to save money for your subscribers.
Probably even garbage POS names like UNG BOIL

All these names are very vulnerable to pump and dump because there are too many innocent / greedy individuals that want to get rich out of penny stocks or such. 

You would be doing the greatest service to your subscribers by doing so. I mentioned the same few years ago. 

DJT huge move on volume last 2 days. 

Not everybody wants to do day trades though. Having said that, if not day trading this, it's probably not a stop out yet. It wouldn't be surprising to see it back at 2.50 tomorrow (I have no position here). 

In fact, I discussed it tonight - but I have preached ad nauseum to develop a trading methodology/approach that suits you as an individual.  You can pick and choose suggestions from traders but discipline is crucial - even then we will have losers but one must avoid chasing when the valid entry was missed (you may be fortunate at times but it will not serve you well in the long run).   The bottom line is that this trade (although very speculative) should have been a winner as price moved up over 10 percent even from the previous high/trigger.  Take time to review today's action - one should immediately shift to an intraday chart after trigger with price moving in such percentages. 

Tuesday Newsletter

That's how the casino always gets to us. The vast majority are losers but those aren't the stories that are told and not the ones we remember.  Even BPT names that don't work are rarely talked about when they don't work. The names typically just disappear from the conversation.  Just the way this industry is.   If you're struggling with discipline and trading high flyers like this (not a good combination), you should consider setting simple rules for yourself (don't try and follow a complex trading plan if you aren't first following a couple simple rules, and actually following them consistently)
e.g.
- Always use bracket orders on meme stocks (if it moves more than 10% in a day, it probably qualifies)
-  Set your brackets based on levels on 10 or 15 minute chart levels (I suggest using anchored VWAP for your limit order entry, but you could also use the 9, 21, etc)
- If you don't want to use bracket orders, at least use an attached stop (half a bracket order) and enter with a limit order that is based on a level. Do not chase - it will come back to you the vast majority of the time.  If you are absolutely sure you're about to miss the big one that will fund your retirement, switch to a 1 min chart for levels.  If you place an order at the 21 ema on the 1 min chart, you will get hit. Maybe it will take 15 or 20 minutes, maybe an hour...but probably sooner rather than later because if you have FOMO, a lot of people have FOMO and they're all about to get trapped.

I picked up this nugget recently that has been helpful for me. If you're trading with rules and a plan, you don't need to stare at the screen after the trade. In fact, it's not really recommended because the tendency will be to not let your levels either be achieved or get stopped out. Many people take profits too early (before their targets) and also take losses before their stops get hit only to see the stock then reverse above their stop level and hit their profit target. 

Yes, I know.  I was eager.  Lack of discipline too.  Had seen so many go so far so fast...

Any Floridians - please stay safe and our best wishes 

$BKX - Chart Link- the way I have it labeled is the bullish view, and would be completed with that e wave higher low - now we'll see if correct and a breakout ensues 

Obviously with the VIX closing back inside its BB's the VIX system triggered

Ground up to $13 plus after hours - took a trim 

GDX - Chart Link- logical bounce off 50 day MA and uptrend line

First question for you hubrick - why pay $2.50 which is chasing over 10% above trigger?  

TLT closed on high - 97 first target above on bounce 

    
I'm glad I finally gave in and turned into a banana loving gorilla, but it's not in my nature to like taking advantage of this kind of broken and corrupt markets that crush the middle and lower classes. But I have to pay the bills, so game on!

I also wonder how much of the market action maybe due to the markets starting to try and price in a Trump win as his lead seems to be starting to show in the polls and betting markets more?  No self respecting Trump supporter would ever answer a poll to start with, so close is not great for Kamala. Either way, I think there's a poison pill in play that was put in irrespective of the winner because the winner is so uncertain, but we'll see (Poison pill in this case = either increase spending from 8% deficit levels to something higher or you crash the markets...have fun). 

We are in wave 1473 of 2218 ...  Red candles on the S&P are for reloads ...  unless there's an asteroid that hit us ... wait 3 days before buying the dip ... or when the power comes back ...   

Banana Zone in full effect. Today felt like the beginning of a new QE in the bond market. Operation twist 2.0 - with a few new twists this time around (more like "operation reverse twist" this time around).

https://www.investopedia.com/terms/o/operation-twist.asp