This video will be a little different. I going to show you how I made close to $700K.
After borrow fees and commissions, probably $650K in terms of net profit. I’m going to share some of the patterns that I use, that can be applied into the next week or by the end of this year. We have a lot of tickers to talk about.
Personally, I use Tradezero, Speed trader, Guardian. Those are my 3 priority brokers that I personally use.
If you want to look for other options for brokers there is SureTrader, Centerpoint, and Cobra.
Tradezero is one of the main brokers that I use. Here is my account statement you can see me login to my Tradezero account. If you look at the Trade Zero client portal, go to account summary, which will be 2020. Let’s look at October 2020. Let’s go to the bottom, Gross profits were $690K. The Net profits were $672K for October, that doesn’t include barrows. Borrows could be between $30-40K.
Let’s look at the tickers that can be potential setups. The 4 tickers I talked about are all multi-day breakouts.
I have specific criteria to spot multiday break outs. Let’s look at the extension and see where we could short. On $CBAT, it extended from $4-11, which barley hits the minimum extension for multiday breakout. It needs to extend a minimum 300% to qualify a shorting opportunity. $CBAT could be considered for a short, but the extension is barley at the minimum. Let’s look at the 15-day intraday chart. You can see the afternoon breakout, followed by a gap down. After, it spiked into major resistance. When you short into an afternoon breakout you have low odds, so do not do that. This wasn’t a good first red day short, so I avoided.
$SOLO is still uptrending, this will be a good first red day short multi-day runner.
The minimum extension from the breakout has to be 300%. The breakout level is around $6, so 300% above 6, would give us $18. $SOLO is currently around $10. It will take a while to get to $18. As the market cap increases, it’ll be harder and harder for it to go higher. For a bigger market cap to go up 100-200% it will be much more difficult than what we’re normally trading. Ex: if the stock is under $3 and market cap under 300 million.
When you are looking at to shorting into resistance or buying the breakouts, you want to look at the failed spikes.
We see many of these over the last 4 years. The chart normally failed on the 2nd or 3rd green day. In terms of charting history this ticker isn’t ideal. $SUNW if you look at a long-term chart, there is massive resistance around October. Its slowing grinding into the resistance. If you haven’t seen my videos on slow grind, check it out. They’re very hard to short into and one of the conditions that can break through heavy resistance. $SUNW is showing that it is slow grinding. There is only 1 condition to break through this resistance, which it is currently doing.