Be vary careful chasing garbage like TLRY (was a short squeeze)
that targeted 12-13 which was tagged today. I suggest you
take a close look at their fundamentals
Posted by mrjasongill on 6th of Nov 2020 at 02:42 pm
Hey steve...I was just following the day trading video that's in
education to find this setup. Big run up, formed a pattern,
my plan was to buy within the pattern with a stop below and i got
stopped out. My plan wasn't to hang on to it for days...just
today. Should I be looking at something else? How do
you know it's a short squeeze?
TLRY has been a great fade today after that early spike
All the Cannabis names were extremely extended early
on today - that's just a simple technical observation to go along
with the lack of fundamental justification.
Let me just say, it helps to understand (be familiar) with the
stocks one is willing to trade/invest. Provides a big
advantage and TLRY is loaded with shorts. On any setup you're
interested in swinging (not just a quick day trade), I highly
recommend conducting some due diligence on such companies.
Unfortunately, many are too lazy to put in such work.
Knowledge is power.
Steve, you are so right about doing the due diligence on stocks
you buy or trade. I see so many trade ideas in the community. I
look at every post, every day. Each time I see a breakout I go and
check on the fundamentals and the analysis on each company. Often
the stocks are breaking out of a consolidation pattern into
uncharted price territory. In other words their breakouts come well
above any analyst price targets. Sometimes way above. I ignore
those since I am more an investor than trader. But I have gotten
many actionable ideas from stocks breaking out with plenty of room
to run up toward established price targets. I have paid for my
membership thousands and thousands of times over, and then some. It
pays to do your homework.
Thanks for sharing your actual trading results and how your
added research effort helped to markedly improve your
returns...kudos on your work and for sharing with others
Posted by mrjasongill on 6th of Nov 2020 at 03:00 pm
Ok, thanks. I added a short interest indicator to my
volume pane...The "Day Trade Educational Example using FINVIZ
Volume Scan" training doesn't mention short interest, so might be
something to add in the text at least and where to get the
indicator.
I think I was just late to the dance! looking back at the
5 min chart if I had bought it at 10:20AM I would have had a nice
gain on it..it was flagging after the gap up on the open.
Posted by mrjasongill on 6th of Nov 2020 at 02:03 pm
I was gonna sell today. $11.50 would be good for me.
It looks like on the 5 min chart it's losing support
though...so I'm probably gonna dump it. If it loses $10.40
I'm out. WELL...it just did...
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jason, where do you see
I'm long TLRY...It has a coil on the 5 min ...
Posted by imelhoe on 6th of Nov 2020 at 01:59 pm
jason, where do you see its target about 12 bucks or higher and are you planning to sell /close out today? i was also looking at ACB
Be vary careful chasing garbage
Posted by steve on 6th of Nov 2020 at 02:11 pm
Be vary careful chasing garbage like TLRY (was a short squeeze) that targeted 12-13 which was tagged today. I suggest you take a close look at their fundamentals
Hey steve...I was just following
Posted by mrjasongill on 6th of Nov 2020 at 02:42 pm
Hey steve...I was just following the day trading video that's in education to find this setup. Big run up, formed a pattern, my plan was to buy within the pattern with a stop below and i got stopped out. My plan wasn't to hang on to it for days...just today. Should I be looking at something else? How do you know it's a short squeeze?
TLRY has been a great
Posted by steve on 6th of Nov 2020 at 02:48 pm
TLRY has been a great fade today after that early spike All the Cannabis names were extremely extended early on today - that's just a simple technical observation to go along with the lack of fundamental justification.
Let me just say, it
Posted by steve on 6th of Nov 2020 at 02:45 pm
Let me just say, it helps to understand (be familiar) with the stocks one is willing to trade/invest. Provides a big advantage and TLRY is loaded with shorts. On any setup you're interested in swinging (not just a quick day trade), I highly recommend conducting some due diligence on such companies. Unfortunately, many are too lazy to put in such work. Knowledge is power.
Steve, you are so right
Posted by pkrsek on 6th of Nov 2020 at 03:49 pm
Steve, you are so right about doing the due diligence on stocks you buy or trade. I see so many trade ideas in the community. I look at every post, every day. Each time I see a breakout I go and check on the fundamentals and the analysis on each company. Often the stocks are breaking out of a consolidation pattern into uncharted price territory. In other words their breakouts come well above any analyst price targets. Sometimes way above. I ignore those since I am more an investor than trader. But I have gotten many actionable ideas from stocks breaking out with plenty of room to run up toward established price targets. I have paid for my membership thousands and thousands of times over, and then some. It pays to do your homework.
Thanks for sharing your actual
Posted by steve on 7th of Nov 2020 at 03:25 am
Thanks for sharing your actual trading results and how your added research effort helped to markedly improve your returns...kudos on your work and for sharing with others
Ok, thanks. I added a
Posted by mrjasongill on 6th of Nov 2020 at 03:00 pm
Ok, thanks. I added a short interest indicator to my volume pane...The "Day Trade Educational Example using FINVIZ Volume Scan" training doesn't mention short interest, so might be something to add in the text at least and where to get the indicator.
I think I was just late to the dance! looking back at the 5 min chart if I had bought it at 10:20AM I would have had a nice gain on it..it was flagging after the gap up on the open.
Yes, the first pullback into
Posted by steve on 6th of Nov 2020 at 03:04 pm
Yes, the first pullback into 10 am was a valid trade opportunity - then it squeezed and party over
Jason - there are many
Posted by steve on 6th of Nov 2020 at 03:03 pm
Jason - there are many nuances to trading and you're not going to find them on any website. It comes from experience
I was gonna sell today.
Posted by mrjasongill on 6th of Nov 2020 at 02:03 pm
I was gonna sell today. $11.50 would be good for me. It looks like on the 5 min chart it's losing support though...so I'm probably gonna dump it. If it loses $10.40 I'm out. WELL...it just did...