Are All Ride-Hailers Created Equal? And Sami’s Other Trade Ideas This Week
In his latest look into the upcoming week, Sami checks in with the QQQ and SPY, explaining how they tell him that the market’s future isn’t as clear as it sometimes is. Sami’s got levels he thinks the QQQs need to hit to make it under the prior low, and a plan for how to trade if that happens. Sami also takes a deep look at some of the names he’s trading – and specifically avoiding. How do Lyft and Uber factor in? He explains why these two ridesharing titans should be treated – and traded – differently following their disappointing IPOs:
Continue Reading -->Sami’s Game Plan for Bitcoin: Bearish or Bullish?
Today, Sami Abusaad gives you his take on how to trade the current cryptocurrency market. He’s been keeping a close eye on Bitcoin for two months – and has been bullish the whole time. His trade plan worked spectacularly, resulting in your investment more than doubling if you took his advice and held long. But, Sami warns about one silly mistake he made, costing him a big opportunity – and lets you know how you can avoid this simple mishap by always checking one extra thing. Want to know how to get in on crypto at the right time? Check out Sami’s latest today.
Continue Reading -->Options In Play – Earnings On The Radar Week Of 5/24
Retail reports started to drop this past week but next week there will be a bunch of heavyweight names in the sector giving results. The hot Software sector will also see some key companies reporting.
Continue Reading -->Inside the Redler All-Access IPO Corner: Uber and Beyond!
2019 is turning out to be a BIG year for IPO’s. Pinterest (PINS), Zoom (ZM) and Lyft (LYFT) were big names of interest in April. Since then, Uber (UBER) and Beyond Meat (BYND) joined the club. In fact, the Redler All-Access Morning Note now has an IPO corner. Here’s what I wrote today before the market open: LYFT showed some rare relative strength but it’s still very broken. The recent low is $47. It reclaimed $50 yesterday. It needs to hold $49. There is some room towards $52-$54 but that’s heavy resistance.PD has trended higher. $42 was our listed pattern price. It’s done very well, hitting a high of $54.57. Now it’s a bit extended. The 8 day is $49.ZM needs to hold $70 to keep upper momentum.PINS is choppy but the pattern is building. Now see if $27.02 holds to keep things constructive.UBER showed some strength yesterday as it closed near the highs. I bought some. My stop is in the $38 area. Hopefully it can get another day up and clear $40 for a push towards $41.BYND remains very strong as it cleared $72 to make a high of $80.75 yesterday. See if it can hold $76 to keep momentum. UBER had a rough first 2 days after coming public. But yesterday, it was strong and I got long before the close. Turns out good news hit right after the bell rung:Here’s the UBER chart I made just before noon today, where you can see the follow-through:UBER filled the gap and hit $41.69 today for a nice one-day gain. This was a nice little cash flow trade. Moves like this won’t make you rich but short-term 5% winners do add up. Now I’m looking for another setup in UBER, which I’ll be sharing in Redler All-Access. Let’s talk about BYND now, which was trickier. I said it needed to hold $76. It broke that level this morning, but look at how fast it came back to shoot up to $92:That’s a sign you need to pay attention. The key here is that BYND broke above that nice bull flag to take out $80.75, then the post-IPO high of $85, before finally reaching $92. So you probably know why we’re following the IPO names so closely in Redler All-Access (click that link to follow along) — they often set up great patterns for nice intraday cash flow trades and swings.Positions Disclosure: As of May 15, 2019 at 1:11 p.m. ET, Scott J. Redler was long SPY, TWTR, QQQ, AMRN calls
Continue Reading -->Spotting Major League Support & Resistance
In the latest entry to his lesson series, Sami Abusaad builds on last week’s lesson to catch you up to speed on major price support and resistance. He kicks this video off with a review of minor support and resistance, but, if you missed the last episode, do yourself a favor and catch up here. Your P&L will thank you! This lesson focuses on how you can use this concept to exploit the opportunities that present in a sideways trading patterns. The market often gets stuck that way, so understanding when to make your move in this situation is essential. In fact, this concept is so powerful, Sami knows traders who live comfortably by exclusively buying stock at/near support and selling at/near key points of resistance. Sounds crazy, but Sami just gave you the keys to car. Drive your way to comfortable living on one concept now:
Continue Reading -->Options In Play – The Bending Trend In WWE T3 Live
We spent a lot of time focusing on trending stock trades last week and broke down a few different ideas on how to approach those trades. The key to trending trades is knowing when the trend is breaking and WWE looks in danger of doing just that.
Continue Reading -->The Questions a Smart Trader Is Asking Herself Right Now
Sami updates last week’s correct call on the end of the uptrend on the daily QQQ chart, and what he sees coming up this week. Want to move forward like a pro? Then these are the questions to ask right now: Did we break under the long term trendline? (Yes!) Did we break under the moving average? (Correct!) Do we have price below the moving average now? (Absolutely!) Is the moving average now flat or starting to move down? (You bet!) This all points to coming weakness. But, something on Friday contradicts these points… so how should you play it? Watch now to see Sami’s latest game plan so you’ll understand how to play this uncertain market:
Continue Reading -->Swing Trading Game Plan: A State of Flux
Welcome to Sami Abusaad’s latest swing trading game plan! In last week’s video, Sami identified $186.80 as the “line in the sand” for QQQ. We broke it, which means trouble could be on the way. However, Friday’s bottoming tail was undoubtedly bullish, complicating the situation quite a bit. Unless major news hits soon, the market could be a state of sideways flux. So Sami is coming in with a neutral (but slightly bearish bias) — which is not his favorite type of market. Sami has 6 long and 7 short ideas on the radar for this week, including BEST and NUAN. See how he’s looking to play these names in what could be a tricky stretch for traders.
Continue Reading -->Scott Redler’s Reality Check: How to Take Control of Your Trading, and Finally Turn Things Around
Every day is a new day. And that’s the beauty of trading. You can always start over. But if you want to make a fresh start, you need a reality check. Put your ego aside, and take a serious look at what you’re doing right, and what you’re doing wrong. Most traders, especially when they’re losing money, can’t do that. But if you’re ready to take control of your trading, you can start now. Here’s how: 1) Break Down the Last Year This is where the rubber meets the road. Your first step to getting on track and stemming the bleeding is to know where you stand. Take your last 12 months of trade data, and put it in a spreadsheet. What was your P&L for each month? What about each week? And each day? What was your average gain or loss per trade? What were your 5 best and worst 5 days? 2) Connect the Dots Start working your numbers and look for the common threads. Did you let losers run too far? Did you sell your winners too early? Are you having trouble shorting stocks? If you look deep enough, you’re going to see some really interesting things… especially if you think about your life outside of trading. I’ve seen many traders post their worst results when they’re having family, career, or health problems. Something big like a divorce or surgery can really set you back. A lot of traders think they can fight their way through anything. And you do need a little bit of that attitude to get ahead in life. But if a major life event throws you off your mental game, take a break, regroup, and come back fresher. 3) Set New Goals Your #1 goal for the second half should be to break bad habits. Did you hit your daily loss limits too often? Did you keep doubling down on bad trades? Make a list of habits that cost you money, and print it out. Then, post it at your desk and read it every day. Breaking bad habits gives you instant results. For example, let’s say you keep breaking your daily loss limit, which drags down your average daily P&L by $500. If you can eliminate that bad habit and take back that $500, you’re going to have an extra $10,000 a month. That takes care of a lot of mortgage and tuition payments. How do you do this? Start by following the list you just made. 4) Create a Trading Daily Routine Successful people don’t come in to work wondering what they’re going to do. They have a routine. Elite performers like Steve Jobs, Winston Churchill and Benjamin Franklin all used daily routines to stay productive and on track. Trading is no different. So I’m challenging you to make a checklist of 10 things you’re going to do when you get to your trading desk in the morning. This can be stuff you’re already doing. But I want you to systemize it so you flow from one task to the next without getting sidetracked by the news, social media, or TV. It could be checking news, scanning charts, tracking futures, previewing the economic numbers, whatever. Just have a routine and stick to it. 5) Get Some Balance I love trading. But I’d hate it if I never got away to blow off steam. I highly recommend picking up a sport or hobby that forces you to be 100% in the moment. So start running, swimming, playing chess, or even video games to give your trading brain a rest. You’ll work out your stress and come back fresh. Plus, you’ll be taking better care of your body. Your P&L is tied to your health. If you eat well, and get to sleep at a decent hour, you’re going to be a better performer day in and day out. But if you’re coming in on 4 hours of sleep and chugging coffee to stay awake, you’re doing this all wrong! The Bottom Line You’ll never get where you want to go in trading if you can’t see the truth about yourself. Hopefully, you now have some ideas that can help you take that first step towards turning your P&L around. Positions Disclosure: As of 5/10/2019 at 10:56 a.m. ET, Scott J. Redler is long TWTR, TWTR calls, AMRN calls, BRKB calls
Continue Reading -->Options In Play – A DIS Lesson On Knowing The Catalyst
DIS had a solid report last night but isn’t having a very eventful day. Options were pricing in a big move going into the numbers but there is a reason why I was more cautious on near term action.
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