May 23rd, 2024 Ultra Wealth

Awesome.

A little different than conventional vehicles.

So what's that?

A little different than the gas vehicles and all that, so.

Oh yeah, much faster. Yeah, it's instantaneous as soon as you put like your foot on the pedal. Yeah, yeah, it's pretty wild. Is it new? Used? How'd you, how'd you track it down?

It's new.

You went to the, just went to like the Ford dealership.

Yeah, yeah. I've kind of been eyeing these ones out since they came out with the electric ones, so that's cool. Yeah.

Yeah. Amazing. All right, well I got. We get to share some, some just some general trades. Just a review today will probably be pretty quick. I think it's just going to be me and you today June. We're gonna have a few more people join us for crypto and futures and Forex, but that won't be until June 3rd, so we'll still have all of next week together just kind of hanging out. I, I just want to see your trades, that's all. We're just here to celebrate us. Like this is such a fun day. This is so cool. So Eric, walk me through, either do a screen share or just walk me through your amd. Give me some insight, some updates. I know you're obviously in Nvidia. Give me the whole breakdown.

So what I did this morning is. Let me zoom back here. I. I'm just confused on my computer. Here we go. Yeah, I sold my amd. I sold a thousand shares at the open because I was a little worried about what it was doing and I was in profit, so. And I kept a hundred shares and then I sold a covered call for like $4 and 60 cents and I just bought it back for like a buck 40 or whatever like the same day. So yeah, so. So I took all my profit out of AMD this morning except the 100 shares I kept. So that was awesome.

I love that. And then.

Yep. And then I had 150 shares of Nvidia. I had pre sold a covered call at 1200 with a hundred shares. And then the 50 shares I sold this morning at 1030 or something like that just to take profit and be done. And today my account went up a lot. I mean like all the trades hours in last, it's, it's been amazing. So I am, I am up and it feels good and it felt good to take profit realize it. And here's one strategy I wanted to talk to you about. You know you get three up days and three down days and three up days and three down days. Sometimes you get those three up days and I am in such good profit and three down days and I'm back where I started. I feel like I should just exit everything on the third update and then just wait for the next deal to come along because otherwise it's just this zigzag pattern. I mean, it is always increasing. Right. But then you turn the computer on the next day and you're down 12 grand and you're like, why didn't I just sell everything and rebuy it?

So it's less strategy and it's more just timing. Because it really depends on how often someone has to be in front of the computer and how much time they want to dedicate to this. And that's really it because you're absolutely right. If we go back to and this, we can definitely do a little bit of this next week. We did a. We did some of it on Monday, but we're buying big size. Yeah. And we're just trying to catch like two, three dollars and then we get out, right? Yeah. I mean, ultimately, like that, that is, that just requires being in front of this in the computer a little bit. And I know you love this. And obviously everyone here, like, we all love this. Like, I know that. But some people, they, you know, they have a job or they don't have a ton of time to really be in it. And this strategy really is kind of created so that an individual can just go, hey, I'm hands off. I'll come back and look at this in three weeks. I'm not even going to open my broker until April 15th or June 7th, you know.

Yeah.

Because that'll be some. That'll be some people, like, they love their job or they're really busy or they're really slam. They only have weekends initially. But you're absolutely right. There's been plenty of times I'm like, man, I should just get out of this position now. Like, it's up beautifully. Like, I should just take profit. And again, that's what's amazing is with. With chairs, you can. Right. We can all do that. We all have that capacity to get out, take our profit, move on about our day. It just comes down to, like, if you do that, it's all. It's also going to be hard to hold a really, really big winner. Right. Because you're getting out after 2, 3 updates and then you might not get back in with the same size. Because, I mean, like, Nvidia is a great example. Let's just pull it up really Quick.

So I'm thinking that right now, with my few shares that I have left, not that I had a lot to begin with, but.

Yeah, yeah, but like right here, right? 1, 2, 3. So three super strong updates. So if you sold on that third update, I mean you timed it perfectly, but you would have had to get back in somewhere in here. And they have three down days and it wasn't really that big of a pullback. And so it's just one of those maybe, right? Maybe you did, maybe you didn't. And that's really it. I mean it is a. It's a great strategy like that. I. Those are my first videos I posted this year. Is the three. The three update, right? The three bar play, three strong down candles or three strong bull candles in a row, then just go short or go long and you'll probably have a good win because it's kind of rare to get three in a row. So for example, right here we had. This was an update. This was an update. And this is technically an update, but it's really inside that candle. Right. So it's not really an update because it didn't really go higher than PRI the previous day. The strategy is really built for when you have a big bull candle. Big bull candle. Big bull candle. And it's just like good. A good. So if you took a three bar place short on this day or this day, you would have had to hold through a little bit of pain, obviously, but you would have ended up making some money on that trade. If you're shorting, if you just got out of your position, then you look like a genius. Right. And then same with here, this is really the strategy, three bar play.

Right.

Three strong concurrent candles in a row. Right. And then you just got to make sure you're buying or repurchasing somewhere on that pullback. Yeah, Even. Even here, like on the three down candles. So if I come over here, this, you know, to keep the same theory alive, this isn't really a down candle, although it is. Right. It's obviously a bear candle. We didn't really have a. A bear session. Three in a row. Same with this one. Right. This was actually an update. Even though it was a bear candle, it closed higher than previous day. So it's actually pretty rare, man, to get three strong, nice candles in a row. Bullish or bearing. So to go over it to what you're saying, it is a good strategy. It absolutely works. You just got to make sure that you get back in and you gotta make sure you have a Plan for that ahead of time.

Yeah. Yep.

So 10 to 1 split, man. Crazy, crazy, crazy. All right, let me go show you. Does everyone here want to see some artwork?

Yeah.

All right, let's pull up. Let's pull up a Picasso of profits. I'm just going to go to my girl Joe's chart really quick. I mean, I'm assuming you guys already printed this out. This is already. This is already your wallpaper when you go to sleep at night, right, Jeremy?

I. Yeah, that was. I was looking at that this morning. I was like, man, wow.

So just play the hammer. My question to you, Joe, is why did you keep the trade open or how did you have the conviction to keep the trade open when it was going down on those candles right there?

Well, the next one, it kind of. It broke through, but it kind of held on to the V WAP Just barely. And the second one was kind of inside, so I thought I'd see what the next candle did. And it did close back above, so just waited to see. And it's just Nvidia just with the hype and all that kind of thing can kind of mean like almost with everybody wanting to get in and the stocks, it and all that, that still had some room to potentially go up. And I think my target was. Well, it was above the. The current high, but just a little bit. So.

Yep, yep, I love it. And then when this candle came in, you're like, awesome. I mean, it, it. It probably doesn't trigger, but if it does, it looks pretty good.

It still had a bit of downward pressure, too. Bare pressure with that big toe wick. So.

Yep. So nice. And this is the new all time high. Left a couple shares, see if 1050 could hit, which it did eventually.

Yeah.

Did you sell some of the rest at 1050 and that's almost the top of the day.

Well, that got me out of the day trade that I was in, so I did sell like a third of my longer term position, so I've got two thirds of that left.

So great job. Great job.

Yeah. That's awesome.

Super cool. So, Jeremy, walk me through what made this such a great bullish gap, you know, even though. Even if it was just initially, which is fine, you know, you don't have to make money all day to make money. But what made this such a nice gap initially on Nvidia?

So it's days before it's like banging up against that resistance and then you have. It's a. It's a. A gab of go out of. Out of earnings Then gapped above, like all the resistance.

Yep.

Yeah.

Easy enough, right?

Yeah.

Easy enough. Yeah, man. Beautiful. And again, the fact that like we trapped, just gapping above this bear. Big bear, right? Big bear, big resistance. We had three bears coming into earnings, so those were, those were trapped. We already had nice. Little higher, low pressure again. I was really hoping it was going to gap down. I mean, I was in that long. Still am, but I was just excited for a gap down because I thought that'd be really cool. But yeah, Beautiful, beautiful gap. Really, really nice move. Really nice move. Awesome. Yeah. Great job, Joe. That's a beautiful day trade. Beautiful day trade. Tesla dropped today and I sold some covered calls on my shares the other day. Other day being two days ago. And I bought them back today. So this is, this is. Yeah, a few times. You did that too, Joe?

Yeah.

Awesome. What? Which ones did you sell?

195 or June 14, something like that.

Good job. That's amazing. I love it, I love it, I love it. All right. June 14th. Okay.

Yeah. But out of them now. Out of that now.

Yep. All right. Now we just wait on the next hopeful move up, I guess. Yeah, just sit around and keep waiting. Are you gonna buy any more shares on Tesla? What's your plan with it now?

Just day trade it. When I can wait for it to go up. Still sitting on a few, so.

Yep, got it.

And I know you said you're doing the calls.

Yeah, yeah, yeah, exactly. I know you said that. You're out of this one, Eric. So you're out of Tesla. Yeah. That was nice. I mean, again, really, really good little pop. Ran into the hundred, had a nice little breakdown. Took out the low of the day. Here's the three minute chart. And.

There was a couple shorting opportunities today. I looked at it.

Oh, yeah, yeah, this is the one. This is the one I was looking at. And I. I followed my. I don't know, I guess I was a little too strict on my rules of some kind. So I missed this little booger, this little drop right here. So that was. And then I just had. I had too many things to do today to day trade. But yeah, I was somehow, somehow whatever rule was in my head, I was too strict to short there. That's what I wanted to do. So my brain feels at least good that I wanted to do something that would have been a really cool trade. Yeah, nice little breakdown. High wave candle, little flush lower. But yeah. Yep, a lot of shorting opportunity. Yes. There's an inside day candle today, so nice little breakdown. Yeah. Other than that, I mean trying to think if there's anything else that's really, really cool. The, the hardest days for a lot of traders I found usually are the big gap up fades in the broader market. Those are the days that if people ever get kind of beat around, those are the days. But again those are the ones like you said Eric, that are generally pretty easy to trade because if you're profitable on something and again it's a tech stock and the market's gapping up and it's the highest that it's ever been in human history and you're profitable on your tech position, you're not going to be that dumb to get out and take a profit. Right. And like if you're. That's what everyone did today. So I think that we'll probably get a little bit of a pullback finally on the queues. Maybe back to like 440 or something like that. 444, 445. We can kind of start playing around. Do you have any other positions that you want me to review for you, Eric, or any other trades that you want to look at or Joe or Jeremiah?

You know, I have some AMD as well, so just sitting on those for now too. Just gonna do small ones with that too. But I still have my shares on that.

Yep, totally me. Me too. I'm in a collar on amd. And you sold your put on Advanced Auto Parts. Yeah, it's a great put sale. That's gonna be a really fun trade. I'm gonna do that one with you.

Yeah, I did 5-31-65 put for 240.

That's so good. Yeah, that's really, really nice. Okay.

Do you think now is a good time to load up on amd? You think we're going to have a couple bear days and there'll be a better chance and then wait for a morning 10 EMA to get in.

Yeah, I think, I think so. I think we'll have. I believe so. Yeah. I think you could get it back at 1 150. Yeah, I mean it's going to fill this little gap right here. So it's going to go down at least 153.

Okay. Yeah.

Yeah. Because we failed 100 again. It was a great gap this morning. So it was a gap and go that did not go and failed. The 100 market kind of rolled over. There's even the chance that it could go down to the 200, although that's probably more rare. I don't think that that'll happen. I mean it's obviously definitely possible, but yeah, I'm thinking like 150 to 153. You could start setting some orders up or set some alerts up or start kind of planning for that again. I'm in AMD too, so I'm just kind of chilling with it. Worst case is 140, which is the 200 simple on the daily. But we can start planning for that or thinking through that or kind of just waiting for our pyramids. I'll actually be able to exit my covered call and probably my long put for a profit sometime next week if it drops a little bit more because I got in. I mean I'm profitable right now. I just want a little bit more. But I got into that collar right at the very, very. And right at the top of that candle.

Cool.

Yeah. So I'm just. I'm just chilling. I like your trade though, better, Eric. I'll give you the gold medals today.

Thanks.

Yeah.

You know, I didn't do that bear call or bear put spread because I didn't have enough margin to sell a bunch of puts.

That's okay. Yeah.

So then I was just like I just going to hope that it goes up overnight with Nvidia and. And then when it hit that 170, I was just out of it.

Hey, I can live with that. Yeah. Yeah, I can live with that. Awesome. Big J. What are you in man? Or what are you. What are you reviewing or thinking about?

I'm just looking to see if I got triggered on anything I'm in on. On Canadian Goose because I like that setup. That was a nice one Y that posted. I had one set up on. Arx shoot.

I forgot the.

The exact ticker.

You got.

And then. But it didn't trigger in so I canceled that. And then I got in on or I set up trades on Dexcom and the other two that John posted because I like those setups as well. The Dexcom one looked really nice yesterday.

Yeah.

But still in wisdom tree. Just writing that up and. Yeah.

Cool, man. Awesome. Any. Any day trades recently? How's work? How's business? How's life?

No day trades. Although I'm hoping eventually some days I'll be able to do that. Especially for like I. I got jealous, Joe, at your Nvidia trade because I'm like, man, if only.

I. Dude, she market. She stole money today.

Nice to catch the odd one, but.

I've really been enjoying the fact of just at night going through swings, trade setups and then just setting them up and Forgetting about them and then it's like, oh, I'm in and then, oh, I'm up or yeah, yeah.

So yeah. Awesome, awesome, awesome, man. Love that. Happy that you're happy. It's been, it's been a really fun market. A lot of interesting things going on out there. Disney broke down for me, so I'm in the Disney short still. I got just a little farther to go. 9980, so about 36. I'm gonna leave it alone till next, till Friday, but I don't think I'm gonna be able to lose on this trade. I think right now my stop is just a couple pains below the entry. But sometime next week, Tuesday, I'll lower to like 104. So if it doesn't hit this target by Tuesday, I'll lower my stop again and I might even try to keep going for a little bit more on that one. Alcoa. So this one is, is really, really cool. I, I played Alcoa on a swing trade and I'm keeping my eyes on this one again, Tom, because this will be a really high probability trade if it comes back to 38. So I'm gonna keep an eye on alcoa down at 38. I'd probably sell some puts down here for late June, early July and maybe pick up some shares. So we'll keep that one on our watch list for us just so we'll kind of keep tabs on it. Alcoa. Yeah, so we'll just kind of keep watching that one for a second. Coinbase sold.

Any puts on that one yet?

Alcoa? No, no, not yet.

No. Okay.

No planning on it though. Yeah, definitely keep it close on, I think. I think if it gets to 30, 38, 39, I'll start selling some puts. If Coinbase gets back down to like 196, 195, I'll sell some puts on Coinbase. Potentially this is also one that could pick up some shares on. But selling some poster on 150 will probably be a pretty high probable trade. Again, they just absolutely crushed last two earnings. So that one looks really, really pretty obviously Nvidia and yeah, then Robin Hood. So Robin hood is at 1923. So look at Robin Hood and then Reddit. Yeah. So Robin Hood made its new high. Now we're pulling back on Robinhood. $15 would be a gift on Robin Hood. I don't think we can get back down there but if we start creating this big channel and again, I don't think it's going to happen soon. But you can go ahead and put in your, put in your notes. If Robin hood is around 16, that's going to be a good, good spot to pick some up. I believe.

I did a little 10 EMA play on Robin Hood this morning and made 155 bucks with just a couple. I was like, oh, I think this looks easy.

Oh, you're funny, dude. Isn't it cool? Just. Yeah, just pushing buttons over there. Biggie. I love it. That's awesome, man. Yeah, Robin Hood. Yeah, exactly. So did you play that because of this beautiful evening star reversal pattern right here?

I played it bullish and, and oh, did you?

Wow. Yeah.

And I don't know how many cents I made. Not that many. I made 14 cents on how many of her shares I bought. I just bought a round number of shares.

I don't.

1200 shares or. I don't remember what it would just look like. Oh, this is probably going to rebound because it came down and bounced really hard. If you look at the three minute candle at 8:45am Yep, it, it hit that pretty hard and I thought, well, it's going to go in and then that first hammer candle at 9ish. Yeah, right there. Yep. I just. 10am 8 off of that and then it went up, back down and then I got out when it topped around 1977 I think was my exit. Something like that. So whatever. I made a little, I made a little money and that was kind of fun.

Love it, love it, love it, love it. That's awesome, man. That's cool. Yeah. I mean, again, that's, that's what's awesome about the tennis. Look at this absolute beauty.

Those, that was another opportunity, but I had to go to work.

Oh yeah, there's, there's so many, man. That's the thing. And that's, that's the market, man. We just need a couple. We just need a couple. Here's Reddit. Oh yeah. So Reddit took out that lower shadow. Perfect shooting star. I want Red to come back into the low 40s. This is a stock that I will. I'll go to Jeremy's house and sell some of his shoes to buy some at 30. Yeah, this like, this will be a really, really cool IPO to get it nice and low. Anyway, I think this is gonna be a buy low, sell high for a while. Right now it's on the higher side. But yeah, pull back down to 40. 30. Anywhere in that general range is gonna be super. We can go draw that in there.

Four good bear candles on it. Right now.

Yeah, exactly. Yep. So put sales to be a possibility, a little bit of a pickup. What else? Yeah, that's really it. I mean, right, right now I'm definitely, definitely. I mean again, when you guys all know this, but the higher the market goes, the less I'm trading, right. Markets go high, I'll be day trading a lot, getting in and out, stuff like you said, Eric, taking profits a little bit earlier. Nothing wrong with taking profits earlier, right. You see a position, you're up like, okay, cool. If you want to exit, you can. But as, as markets are at all time highs, you're going to find in a lot of callers, you're going to find me very patient. I'm a super, super big fan of waiting when the market's really high because if you have any pullback, it generally affects pretty much everything for the most part. So yeah, right now not doing a whole, whole heck of a lot.

So for Apple and Google, I've got shares in those too. So it's kind of still. Yeah, same thing. Should I just get out and take the cash on that and sit and see what happens or wait for it to go up more?

Yeah, I got into, I got into a collar on Apple so I'm in a 200 to 180July. Let me pull up my chart. Yep, 200, 180July on Apple. And yeah, I'm just in some shares of Google. Just chilling with you Joe. But yeah, I mean a covered call could be nice on that one. Probably not. Today most likely is the best time. Any Monday or Friday pops up a little bit, sell some calls. But I still think, I still think that this gap needs to fill at some point. So if it comes back to 160, the whole market, I mean obviously we're bullish, right? We're making new all time highs, higher highs and higher lows. That's the name of the game. So look for strong trends, look for good moves and buy those pullbacks. Just kind of find out where you want to get them into and get in there. Yeah, so for me It'd be like 160 to 150. Anywhere in that range would be really nice on Google. Yeah. Here's our, here's wisdom tree for our boy Bearded Jam. What do we got? Nice, nice new high. You almost hit your target today then, didn't you buddy?

Yeah, almost.

So you're gonna have to move it again, huh? Go for more that.

Well, that's what I was thinking of the long weekend just because it was, it was just almost Licked two hours, I think, if I remember correctly. And then I was like, I should probably move this up, because what if we get a nice gap over the long weekend?

Yeah, that's a real. That's a real possibility, man.

I like money.

Yeah. Yep. Yeah, man. A long weekend. Is it. Today's Thursday, right? Thursday, yeah.

Thursday.

Thursday, Friday. You know, I don't have tons of data on holiday weekends. I'm sure it's out there somewhere, but I don't have any data personally. All right, cool. Well, yeah, guys, ultimately, I'm just here checking on you, make sure everyone's happy, protected, comfortable. Got a good plan. If I show up on Monday with a big tattoo of Joe's trade, you'll know why we should. We should all just print that out, make it our pillowcase when we go to sleep on it. Just such a good trade. Proud of you, Joe. It's awesome. What's your. Do you have an end date in mind yet? It's gotta be getting close for you. Gotta be getting close, Joe.

Open November.

November. Okay. You can make it till November?

Yeah, I think I can take my day. Thoughts.

But remember, take off December, like. All right, I'm done. See you later. Yeah, it was nice knowing you. Cool. Cool, cool, cool.

I love it.

All right, everyone. Well, hey, go. Enjoy your weekend. If you need anything from me, if there's any other trades, there's any other setups, if you have any other questions, just please reach out. Obviously, let me know. Happy to review. Anything you want to look at. Monday, we'll do a nice little deep dive. I'll be in Laguna, and I'll be there full time from here on out for nice. Most of the summer, I'll be in Laguna Beach.

Awesome.

You guys get bored and come over, let me know. Love you, team. Yep. Enjoy your weekend.

Thanks.

Bye, guys.

Bye.