AI just imploded

Last night's newsletter playing Monday night's commentary!

Which always begs the question: Do you take the long side trade right here (with a tight stop), or do you wait for a breakout...and why? 

Is it simply a question of individual preference and style or do other technical factors come into play?

Never quite understand that but...on just about any time frame (daily, hourly, 5 minute), if you're using a candlestick chart you would have been stopped out.  Giving it more room than today's spike low near the open is the equivalent of not using a stop at all.

I was taken out at the open.  You have to draw some line in the sand...

Mine was fine; just watched and listened to it.

BOIL: Matt, You noted in last night's newsletter you like the long base in Nat Gas and would monitor the current pullback for entry.  I bought BOIL and cashed out end of day of the 1-20 reverse split.  What would be your re-entry trigger?

Decided to take my 14% gain rather than hold through the weekend. 

BOIL - 

Matt: A few days ago you mentioned you were in BOIL. I bought in the other day at $3.14. Today the stock had a reverse split 1 for 20 and is up 5%. Do you read anything negative into the reverse that would cause you to cash out of the ETF?   Usually reverse splits are perceived to be negative.  The chart looks positive.

Took a look at the scan list this morning.  Made a short list of five to watch (probably too many).  Traded two (UCAR and PCT).  Made a few dollars but still learning.  Most of these stocks move quickly in either direction. Learning to trust the patterns, trust my instincts and keep stops tight...though I suspect it's better to give them more room for a bigger payday. Any specific tips, Matt?

I agree about Google. Bought in at $110.75...sold yesterday at $124.  Haven't liked the feel of the stock since it produced that big red candle on the daily chart (after making a new high) about 2 weeks ago.

Gap higher at the open then big red candle with huge volume on the 5 minute chart for NVDA, META, MSFT, AAPL and GOOG.  Anything to that? ,

For June ("the week after June week 3") I assume he means the trading week that follows the third trading Friday of the month. Is that right?

Gutsy move buying NVDS and TSLS ahead of today's Fed's action/inaction and statement.  Did you buy because the underlying stocks are extremely overbought and it's inevitable that they come back to reality?  My instinct says to do the same, but I can't see a trigger on either chart.  

I did as well.  Placed my stop at $3.47 - one cent below 9 EMA.  Is that about right or not giving it enough room?

Even more entertaining: Watching Digital World Acquisition Corporation (DWAC), which is/was supported by the anti-Woke crowd, get crushed and tumble from an opening day high ($175) to today's close ($12.79) in just 20 month's time.  

Can we please keep politics off of BreakPoint Trades?  

Still a fickle market.  Would rather be out early with a profit than overstay my welcome.  I use 5 minute charts when I'm in for a trade.  Entered XMTR Friday, rode the 5 minute candles up today, then when I saw a gravestone candlestick about 30 minutes ago followed by a red candle, I put a tight stop and was taken out at $23.32. Made good money, I'm okay if it makes another run without me.

Matt, Can you please discuss in an upcoming newsletter when it's best to buy inside the pattern and when to wait for a break of the coil?  
This gapped at the open and I didn't get my stop limit order filled.  Have been burned in the past buying early (inside the pattern) and may be playing  too conservatively.

Had an order in just above the pattern; missed it when it gapped at the open.

Matt or Steve, can you remind me how to identify a gap and go situation such as SYM today?  I usually wait for the break with coiling patterns and don't generally chase gaps.

Thanks for the plethora of trade ideas, Matt.  Just curious why OABI, with its extended base, hadn't popped up on your screen prior to breaking out yesterday. Or did I miss earlier mention of it?