Transcription
So guys, there's one thing I want to add, but I didn't want to put it on the watch list because it is Oh, sorry. Because this is the most, this would be the most, uh, aggressive trade of the day. Okay.
The one thing I wanted to talk about is Coin. Okay. Um, Coin. I love, absolutely love this massive rally divergence it's had. I love it. Okay, look at it compared to the market. Look at it compared to the market. And look at this pre-market high where it's sitting at currently. It's consolidating at this pre-market high. Um, and on top of it, you can also see it's, um, basically coiling up right at this range where it was struggling on the previous, uh, on Wednesday and on Thursday's rejection, right? Wednesday it sold below this and held below this, and then Thursday, this was the rejection area, uh, right when the market opened and just dumped right here. Okay, so I'm a big fan of this. Um, again, this is one of those super aggressive trades that you basically, it's gonna immediately just rip through 155 or it's immediately going to fail the level. So, some of you love those trades, some of you don't like those trades. Some of you prefer to wait for the break and retest. Uh, just know on something like Coin, I don't know if I would necessarily look for that. Coin has a nasty habit of ripping in a direction and then completely dumping in the opposite direction. So, the retest would fail you. Uh, so just keep that in mind. That's a sidewatch I wanted to at least talk about.
All right, now let's go over the watch list. NQ. Today I'm going to be watching for a breakout for calls at 247.94. That would be for NQ longs. For QQQ calls, it would be 601.67. That'd be my long entry criteria. As long as I see good volume hitting the tape, that's all I'm going to be looking for. And then for shorts, because I like this little range it's holding in the pre-market, this level, my 247.29 level. I like that it's holding that. Um, for shorts, what I want to be watching is a breakout of 246.98 and or, uh, 599.4 for NQ shorts, QQQ puts. All right. Uh, we should expect a bigger move today off the open. We should expect a bigger move. So, just something to keep in mind.
Um, now let's see. I would say also with all these other single tickers being zero DTE, you do have a very strong possibility of, um, immediately hitting about 30% profit, very similar to yesterday and, uh, it sells right away. So, just keep that in mind, whatever your broker's settings are. Usually on a Friday, I have my initial tick profit setting between 80 to 100%. Because there's been times where we've entered a trade and it flies and it hits, let's say, 50% profit almost immediately and your whole position gets sold, which feels really good in the beginning, but then when you see the trade run for 300%, you're just going, you got to be kidding me, right? I would have had at least one runner. So, we're basically one contract is making six times the money. You know, it kind of does. It burns you a little bit. So, just keep that in mind. You want to keep in mind. Do not, do not go crazy today, guys. This is me being your voice of reason this morning. Do not risk all of your week's profits today. It's a Friday. Do not go into the weekend by breaking all your rules and going on tilt. If you were to take a loss this morning, you would not, you would not, um, be upset about it. If you're a normal trader, you're not going to be upset about taking a loss. You will be upset about breaking your rules. You will be upset about going on tilt. You will be upset about oversizing. All those things I could say you'd probably be upset about and it would probably carry over with you into the weekend. Um, just one of those things.
All right. I may take a breakout entry early for calls here. QQQ calls, guys. Giving this a shot. QQQ calls. NQ longs. Entry is 762 on NQ. Trimming at 15 points profit right here. Taking my first trim right now. Everybody take your first trim. Stop is at entry right now. That's from 62 up to 94. 62 up to 94. Okay. Trying to draw it out as fast as I can. That was a 15 point stop. Stop stops at entry. I've sold half my position on that push. I'm going to risk half the profits from the first trade. Uh, fill on the contracts is going to be, these are so expensive. $2.60 a contract. Right back to 265 a contract here. These contracts are gaining a lot of value. It's making me think this move wants to absolutely dump here. I'm going to get stopped out at 228 a contract. 228 a contract on the 598 puts. Nvidia is showing a lot of weakness here. You guys see that? Nvidia showing a lot of weakness. The market should ideally be following this. This is very weak. SPY is weak. We can actually sell through because if we break out of this, it's going to be pretty aggressive. There we go.
All right, I'm taking my first trim here on QQQ. $2.88 a contract. That's the first trim. I'm going to put my stop at entry here. If you're going to keep an original stop, just be prepared. That would probably be right above 730. Okay, that's 40 points. 30 to 40 points depending on your entry. Remember these candles are big. They are big. Do not underestimate the size of these candles. I want to target that 4-hour key level next. 70 points. The first trim for me, that was 20% profit for me. That's what I saw on the contracts. I'm going to stop out at entry. I'm going to stop out at entry at $2.37 a contract. Nvidia is still dying. It's alarming. The market is not dying with it. I will say that. I was expecting a pretty good move out the open. SPY is bouncing the 680 level. If Nvidia gives up 184 and SPY gives up 680, this is going to dump. We're going to see a big dump. I would say at least 100 points. But both of these guys are confluences. We got to give this up now. There we go.
Second trim right here, guys. $3. Oh, busted right through it. $3.30 cents a contract on there. There we go. Okay. All right. Let this puppy fly now to 100 points profit, guys. 100 points is what we're targeting next. Oh crap. There we go. Sorry. Excuse my language. Not trying to sound, I don't know the word. Not professional. All right. So, that first trade that we try to get that break of the range, we only got 35 points. Now, we're sitting here roughly 70 points in profit. Just looking for some good continuation here. Down to 100 points. I am down to a quarter of my position currently. I have a quarter of my position left. Yeah, 85 points in profit currently, guys. 85 points profit. Do it down here too. 75 to 85 points cuz that entry was a little sketchy. I would not disagree with you on that. No, no. I unfortunately I had to size lighter on this trade. I went lighter on this trade than my first trade because my first trade I made money and I don't want to give back profits from my first trade. So, I had to half size into this trade. Unfortunately, it just is what it is. But that's how I manage my risk. Yeah, I would love to sit here and pretend like I'm going to have a seven-figure day. That'd be great. But that is not the reality. I would need. There we go. 100 points. Good job, everybody. Take that next trim. I'm being a little bit slow. I just totally fumbled this trim. Okay, here we go. Just trimmed it just now. $4.15 a contract on QQQ, everybody. We're almost at 100% on QQQ. We're not quite there yet. Um, but NQ, you guys rock and rolled it, man. Good job. Good job, everybody. I'm extremely proud of anybody that took this trade with me and held this trade. Very, very, very proud of you. That entry was tough. It was a little hard to to hold that watching it go into draw down. All right. So, I would say I want to target 150 points, but we're already at 130. You could trim again.