As soon as it bounced the bottom the last time felt like it couldnt go down and squeeze was inevitable, wish i put more size behind it but i crushed this one.
I think the moral of the story is that if you (ME) focus on shit thats not happenning you end up with shit results. I think bottom line is i got to sit there and dial in a stock and figure out what its doing, as opposed to just chucking random darts. GME was in play so i focused on it, ive been getting myself caught in alot of other stupid shit lately.
Looking at some stocks for tomorrow morning Guess (GES), could be a good short at 16, if it starts failing around that number it should get a decent pullback. Retail has been weak overall so far, plus the volume is already coming out of it, i cant see it putting in a big breakout tomorrow morning on a monday, after that move in this environment. The way i am going to trade it is too look for it to either get "Stuffed" at 16, where the offer just keeps refreshing, or else look for it to go parabolic through that and stop everyone out on volume, then look for it too fail after that. Dont chase it short if it gaps down, cause if it gaps down it could easily just grind too 16 on a nothing day and you dont ever get to see that battle to see what is going to happen.
ANF same story, looks like a good short, id be willing to bet both these breakouts fail, ive marked off the levels for tomorrow, again look for it to get stuffed aT 13, or else it to go parabolic into 14, and if it goes parabolic into 14 load the boat short.
GES already showing strength, this is an absolutely prime short set up at 16, and over, dont get sucked in right off the open give it a few minutes cause if it pops that it is a lay down short, so dont get tied up in it too early.
Im offering GES at 16.39 right now, i figure that is good enough from an R:R perspective, and GES probably hits 15 bucks at some point today. Thats just my thoughts make sure you pick your spots guys, im just feeling it out with small size at first.
GES is just grinding right now be careful about getting caught on the short side, with that said im watching this thing like a hawk here for a short, if we get back down below 16 now it will roll over quickly.