ES Journal - 2019/2020

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hafez50 said:
I have 5 trading rules and 1 is i never ever ever ever short concept stocks or loved stocks like amzn or tsla .Occasionally you'll get lucky but overall you'll go broke. Zoom is super duper hot. Everywhere i go people talking about them . I got hit for around $150k in 1999 shorting rocket ship qcom.
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that is real good advice, TY
 
wave said:
120-80 target
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I’m thinking if they believe the “Stay away from me, you might have corona cooties” will last into 2021-2022, then I suppose they’ll want to take it down to get better pricing and build inventory?
 
hafez50 said:
I have 5 trading rules and 1 is i never ever ever ever short concept stocks or loved stocks like amzn or tsla .Occasionally you'll get lucky but overall you'll go broke. Zoom is super duper hot. Everywhere i go people talking about them . I got hit for around $150k in 1999 shorting rocket ship qcom.
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Ya know the only reason I took that, and I jumped early is because I just don't see the momentum players scalping that easy money in this market.
Problem is, there's a lot of shorts piling on and those stops to the upside will be triggered.

Now the really stupid thing to do here would be to add more.
 
hafez50 said:
I have 5 trading rules and 1 is i never ever ever ever short concept stocks or loved stocks like amzn or tsla .Occasionally you'll get lucky but overall you'll go broke. Zoom is super duper hot. Everywhere i go people talking about them . I got hit for around $150k in 1999 shorting rocket ship qcom.
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If VWAP crosses 146.65 I'll close it.
 
hafez50 said:
I have 5 trading rules and 1 is i never ever ever ever short concept stocks or loved stocks like amzn or tsla .Occasionally you'll get lucky but overall you'll go broke. Zoom is super duper hot. Everywhere i go people talking about them . I got hit for around $150k in 1999 shorting rocket ship qcom.
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AMZN about to makee new high - ATH
 
Wow amzn almost hit $2300. Hard to see mkt cracking hard when all these flyers still pretty strong.By cracking i mean back down to 2500
 
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Shortings tough anyway on stocks. If you must short stocks i highly recommend the weakest stocks . For many yrs they were gold stocks. Oil stocks are good examples. A simple test you can use . If you saw "oh my lord i can't believe the price of tsla . Its total insanity its could to $20" STAY AWAY FROM SHORTING IT . Reason why is as your thinking that so are 10 million others and there shorting it . Guess what ? Momentum traders could care less wether its $300 or $3000 a share. If it's going up there chasing. Then the millions of shorts panic and start covering adding more fuel. The traders keep chasing and the burn shorts reshort . The cycle goes on and on till it it doesn't and that can be a long long time.
 
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