$BBBY Trade Recap — Transcript

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1. 0:00hey what's going on guys jack kellogg
2. 0:02here
3. 0:03just going to do a review on my bbby
4. 0:07first green day slash bounce swing trade
5. 0:11where i locked in
6. 0:12almost 123 000
7. 0:15over um a few days
8. 0:19and i just really wanted to go over this
9. 0:20trade
10. 0:21because it really reminded me of a trade
11. 0:25i had last year on gme
12. 0:28in the same sector of these
13. 0:29quote-unquote meme stocks
14. 0:32and over the last couple years these
15. 0:34have been my biggest trades
16. 0:37now bbby breakout and
17. 0:41short day i missed because i was
18. 0:44traveling i tried to uh short it
19. 0:47at the top near 2627 but unfortunately
20. 0:51it ended up
21. 0:53falling in the last 20 minutes where i
22. 0:55had already exited my position so that
23. 0:56was a little frustrating
24. 0:58but since we had a beautiful sell-off i
25. 1:00knew the bounce would be
26. 1:02a good opportunity to make a bit on this
27. 1:05ticker
28. 1:07so right here you can see that my trade
29. 1:09is verified
30. 1:11and something also that i always get
31. 1:13people are like oh you entered 278 000
32. 1:16shares at this price no guys that is
33. 1:19just an average of my trades throughout
34. 1:22the entire three or four days
35. 1:24so i like locking pieces in re-adding
36. 1:26locking another piece in etc
37. 1:29um
38. 1:30which gives me the ability to
39. 1:32not just be in a position where i have
40. 1:34one position it either goes up or it
41. 1:36goes down there's a little bit of an art
42. 1:38with trading and i think the people who
43. 1:40can position themselves and manage their
44. 1:42trades the best
45. 1:45are usually the best traders because
46. 1:48they're able to put themselves in a
47. 1:50situation where you're losing a little
48. 1:52if you're wrong and you're maximizing
49. 1:53your winners if you're right
50. 1:56so getting into
51. 1:58bbby here you can see that back here
52. 2:02last year we had a run from
53. 2:0420 bucks to 53 when the meme stops
54. 2:07meme stocks were moving so we can
55. 2:09classify this one as a meme stock it
56. 2:12didn't move as crazy as
57. 2:15gme but it still followed
58. 2:18pretty much the same
59. 2:20pattern and now getting into this year
60. 2:26a much much cleaner pattern where
61. 2:29we had this original breakout over
62. 2:33six dollars and fifty cents
63. 2:35had a nice run
64. 2:36and uh gap up and spike
65. 2:38when we were getting the the big bounce
66. 2:40in august on the entire market and then
67. 2:42we came back down
68. 2:44held really well and then created this
69. 2:47nice
70. 2:48green candle which should have been
71. 2:51along all day over 11 12
72. 2:54um and you get this nice rip to 16 and
73. 2:57then if you're super patient
74. 2:59um really nice move to 26 so i ended up
75. 3:02missing that but that was an awesome
76. 3:04opportunity
77. 3:06and the stock ended up crashing this day
78. 3:09and uh
79. 3:10the next day it gapped up and if you go
80. 3:13back on the chart
81. 3:15you can see that this 30
82. 3:18area of resistance
83. 3:19was where it ended up failing at that
84. 3:22whole
85. 3:22whole dollar
86. 3:24level which is key
87. 3:26and then we got this really nice one two
88. 3:29three four day sell-off
89. 3:31and
90. 3:32something that i want to take in
91. 3:33consideration is a lot of people like
92. 3:36would be like oh it already had a first
93. 3:38green day whatever it is but
94. 3:41all these candles are red
95. 3:44and they close below the open price to
96. 3:46me right
97. 3:48whereas if you look at the
98. 3:51the
99. 3:51action that the stock has like green
100. 3:53green green green green green green and
101. 3:56then red red red green green green
102. 3:59and then all these reds
103. 4:01so for me
104. 4:02the key indicator and potentially that
105. 4:05there was a reversal coming was i would
106. 4:07call all this the backside even though
107. 4:09it went green on the day here
108. 4:11um
109. 4:12and looks like a little bit here but and
110. 4:14it gapped up this way but closed below
111. 4:16the open price so
112. 4:18everybody got super excited on this day
113. 4:20you could see a volume increase and then
114. 4:22you kind of see it loses its volume and
115. 4:24you can see this wick where it kind of
116. 4:26comes back and we start holding this
117. 4:30um key level of 950 right very key level
118. 4:34and then you can see that we get this
119. 4:36curl day and this is actually where i
120. 4:39entered the trade on this friday where
121. 4:42you see the best runners usually from a
122. 4:45friday into monday over the weekend when
123. 4:48there's going to be um a lot of news
124. 4:50flow a lot of people hearing about the
125. 4:52stock etc and that's when we tend to see
126. 4:54the best runners friday into monday
127. 4:56if you have uh studied you'll also see
128. 4:59that as well
129. 5:02so my comparison like i was saying to
130. 5:04gme
131. 5:05where you can see that
132. 5:08gme kind of had the same thing where
133. 5:10okay people get excited this day but
134. 5:12it's really selling off and then it
135. 5:14looks like it's trying to base here but
136. 5:16it hasn't still perked above this 14 15
137. 5:19area and then we sell off more
138. 5:22and then you can see
139. 5:23very clearly right here that um we
140. 5:26actually gap up just like
141. 5:28we did on um
142. 5:32see the gap up right here just like
143. 5:35bbby and then we end up holding it very
144. 5:38similar candle right we hold this key
145. 5:40area at 10 bucks
146. 5:43and um
147. 5:46oh god
148. 5:49then you end up getting this
149. 5:52huge green candle here and huge gap up
150. 5:55and fail the next day
151. 5:57so beautiful beautiful first green day i
152. 5:59ended up
153. 6:00buying it somewhere in here
154. 6:02um and i sold it for i think like 100
155. 6:05percent near um
156. 6:06the top of this bar did not hold
157. 6:08overnight
158. 6:11so now getting back into bby now you can
159. 6:13kind of see that comparison where we
160. 6:15have the gap up and then it holds and it
161. 6:17uh
162. 6:18kind of has that first green day so
163. 6:23now getting into
164. 6:24let's do a
165. 6:27intraday chart of
166. 6:3210 days one minute
167. 6:39let's zoom in to
168. 6:41this day right here
169. 6:44so as i said this was the day it gapped
170. 6:46up and spiked and
171. 6:48everyone was like oh it's going to fail
172. 6:50but as you see like we created a nice
173. 6:53base at the pre-market level
174. 6:56the next day it gaps up a bit and then
175. 6:58we fail and we hold
176. 7:00uh just a little bit lower and we're
177. 7:01kind of creating the base
178. 7:03and then it comes back and at that point
179. 7:06at this day everyone kind of wanted to
180. 7:08go right away
181. 7:10so you kind of see people like
182. 7:13here you want to go you want to go here
183. 7:15people really probably want to go right
184. 7:16here
185. 7:17but you notice
186. 7:19that we're still holding a bit higher on
187. 7:22the day and it's a friday so i ended up
188. 7:26taking an overnight position seeing the
189. 7:27spike into the clothes around this 10 i
190. 7:30think i bought it right here at 1070
191. 7:32just at the close 10 000 shares
192. 7:35and my plan was to risk
193. 7:39this
194. 7:40low a day right here at 10 1 so risking
195. 7:42about 6 grand on the trade
196. 7:44um
197. 7:46and then we got the gap up and my plan
198. 7:48is to okay and now i want to see a
199. 7:50morning dip for an ad so we have this
200. 7:52huge uh tank
201. 7:54here
202. 7:56and as you can see the yesterday's key
203. 7:58level um that 1080 held it to a t
204. 8:03and
205. 8:04i ended up adding i think at 11 another
206. 8:0710 000 shares and after this held right
207. 8:10here i moved my risk to low a day
208. 8:12because at this point i want to see it
209. 8:13work
210. 8:14work this day
211. 8:16and now i have 20 000 shares from 1090
212. 8:19with a 1080 stop which is 2 000 risk
213. 8:24and as we spike back over high day come
214. 8:26back down i decided that over this 1150
215. 8:30we're creating a very nice level
216. 8:32which is also the open-ish price
217. 8:35so at this level i blasted uh another 20
218. 8:38000 shares and got my average up to
219. 8:4111 18ish and
220. 8:44i ended up just dumping 10 000 shares
221. 8:46just into this little push because i
222. 8:48wasn't super sure the trade
223. 8:51because
224. 8:53it just hadn't been strong for the first
225. 8:56hour
226. 8:57and uh just sold 10 000 shares just to
227. 8:59get a little realized cushion so i'm
228. 9:01left with
229. 9:02uh 30 000 shares from 1014 still risking
230. 9:05that 1080 potential area to downsize at
231. 9:0710 14.
232. 9:10and we just get this nice volume and i'm
233. 9:12not selling any because i know this has
234. 9:14a lot of range to the upside
235. 9:17and going back to the daily chart
236. 9:20i have this 16 area in mind because
237. 9:23if you look
238. 9:24um
239. 9:26here where it held like this was the gap
240. 9:28gap area where it held perfectly right
241. 9:31here
242. 9:32um it held that nice gap area and um
243. 9:36yeah so it really reacts well to daily
244. 9:39support and resistance so i thought like
245. 9:40i drew my line and this was like a big
246. 9:42area of this was where the gap was right
247. 9:45a big area of um resistance so that was
248. 9:48my kind of target in my head
249. 9:55let me just get this
250. 9:57daily back up so
251. 10:00i didn't sell any and then as we started
252. 10:02ripping i think i sold my first small
253. 10:05piece right here uh 1340 and then it
254. 10:08dipped back down and i feel this is
255. 10:09where shorts got involved
256. 10:11um you know we're up two bucks without a
257. 10:13significant pullback
258. 10:15and it i just saw it kind of rebound
259. 10:17like come back right away i was like wow
260. 10:19this is really nice i think it's going
261. 10:20to squeeze and then ended up doing a big
262. 10:23squeeze all the way up to 1480s and i
263. 10:25dumped a bunch up here
264. 10:28and then it came back down and i added
265. 10:30shares back on and these dips that i
266. 10:34sold because i'm thinking this is still
267. 10:35going to go higher
268. 10:37um
269. 10:38oops
270. 10:39so
271. 10:40ended up adding some shares on and
272. 10:44um and then i forget where but i think i
273. 10:48i downsized some into like th this area
274. 10:52i knew that it would take a longer time
275. 10:53to develop but i didn't want to sit in
276. 10:54it for an additional three hours so i
277. 10:56took this
278. 10:57uh breakevenish sell on the ads so i had
279. 11:01locked in a small profit and then we got
280. 11:02this nice
281. 11:04area of consolidation
282. 11:06and um i think this area really like
283. 11:09shook out a lot of longs but when you
284. 11:11want to swing stuff you want to see it
285. 11:12close a little bit weaker if it closes
286. 11:15strong it's kind of harder to gap up and
287. 11:18hold and you want to shake the longs out
288. 11:20and get shorts confident to hold
289. 11:21overnight
290. 11:22so ended up adding a bunch more shares
291. 11:25at 1280 to 13ish 1340s
292. 11:28and swung 30 000 overnight full position
293. 11:31size that i had on
294. 11:33and we started gapping up in after hours
295. 11:35and then woke up at 4am just to monitor
296. 11:38my position
297. 11:39um and this nice rip i ended up blocking
298. 11:42some in
299. 11:44and uh that was it
300. 11:46and then in this area i was holding
301. 11:47super nice pre-market and uh
302. 11:50i thought we'd get like a seven seven
303. 11:52a.m rip
304. 11:53so i ended up adding my shares back on
305. 11:55that i sold here and uh it looked like a
306. 11:58chat room kind of just came in and
307. 11:59stuffed it this was kind of the area
308. 12:01where i wanted to see okay we're at 15.
309. 12:03i want to see that morning spike to 1617
310. 12:05dump my entire position
311. 12:08and unfortunately we just got a week
312. 12:10open
313. 12:11um and i ended up locking in almost
314. 12:13everything here at 1480 because i didn't
315. 12:15know how low it would go
316. 12:17and there was a lot of air underneath
317. 12:191480 so let me show you what i mean by
318. 12:21that
319. 12:23so you have like the real like key level
320. 12:25i would say like 14 uh 20s and like this
321. 12:28area at 1480 once it gets under it's
322. 12:31just a lot of air you see there's not
323. 12:33much um support
324. 12:35so i dumped all my shares thinking that
325. 12:37i could buy back 50 cents lower if i
326. 12:39wanted to
327. 12:40um so dump my shares here this was
328. 12:43mainly me uh selling
329. 12:45and then this morning dip was perfect i
330. 12:46was thinking 14 20 to 14. adding my
331. 12:48shares back on
332. 12:50uh at 14 10 14 20 and we got that nice
333. 12:52morning spike and uh i was feeling good
334. 12:55about it
335. 12:56and then came back down and i was
336. 12:58thinking it would test us again i added
337. 13:00some more shares at 14 20 14 30 and then
338. 13:03as it came down and consolidated i ended
339. 13:06up locking in the rest for a loss
340. 13:09on the ads around this 14 area
341. 13:12and i think i had locked in like
342. 13:16um
343. 13:17i'm not quite sure how much but i think
344. 13:19it was
345. 13:21like 110k and then as it came down i
346. 13:25started buying the dips uh the dip
347. 13:28for a quick scalp maybe like 30 to 50
348. 13:30cents
349. 13:32bought this dip down here near 1290 and
350. 13:36the spy just tanked so i sold here for
351. 13:38break even
352. 13:40um then got in a little bit here and
353. 13:43also sold it again for breakeven
354. 13:45and then nailed this dip by down uh 12
355. 13:4815-ish entry
356. 13:50and locked in the rest at like 1270 for
357. 13:53another 15
358. 13:55thousand dollars so brought my total
359. 13:57to like 123 000
360. 14:00and basically just left it alone for the
361. 14:02rest of the day
362. 14:04um
363. 14:05so that was my bounce trade on bbby
364. 14:08and i hope you guys
365. 14:10saw um
366. 14:12how i played it and
367. 14:14as you can just see like these meme
368. 14:16stocks really are the best to trade
369. 14:18because you have great liquidity and the
370. 14:20levels hold very well so
371. 14:23you have something like uh
372. 14:27p
373. 14:28x md i think was or pm xd
374. 14:32px
375. 14:34okay yeah this one on friday
376. 14:36like let's just take a look at the chart
377. 14:38and look how choppy this is right
378. 14:40um
379. 14:42like the only clear level i really see
380. 14:45is this uh
381. 14:47short into this area and cover here
382. 14:50and then like this is just so choppy and
383. 14:52super unpredictable to trade
384. 14:54whereas you have these amc's and gmes
385. 14:59and i just think that
386. 15:01these make the best traders so one of my
387. 15:03goals this year
388. 15:04was to not um go big size and stuff that
389. 15:08isn't predictable
390. 15:09and uh random stocks like i have to be
391. 15:12very
392. 15:13well known stack for me to size up so we
393. 15:15got that opportunity on bbby and
394. 15:18unfortunately it just kind of came at
395. 15:19the wrong time for me as i was traveling
396. 15:21um was traveling one of my bigger trips
397. 15:23on the year went to greece
398. 15:25with my girlfriend mari and we had a
399. 15:27great time
400. 15:28so it was okay
401. 15:30and uh i was mainly ignoring the market
402. 15:32except for this day and this day
403. 15:35and then maybe a few scallop days on the
404. 15:37other ones but
405. 15:39glad to take advantage of this bounce
406. 15:41trade and at least make something on it
407. 15:43uh but pretty disappointed that i didn't
408. 15:45nail the breakout or um the first red
409. 15:48day or probably wouldn't have been a
410. 15:49half a million dollar ticker for me um
411. 15:52instead just about 100
412. 15:54or i think after all like my trades on
413. 15:56it about up 200 000 on it so pretty good
414. 15:59and um yeah it just goes to show me and
415. 16:02reminds me that
416. 16:04the best trades i have are stocks with
417. 16:06insane liquidity and stocks that respect
418. 16:09their levels and follow the framework
419. 16:11now hkd
420. 16:13uh
421. 16:14this one was my biggest loss this year
422. 16:17earlier
423. 16:19uh earlier in august and ended up um
424. 16:23just losing on it because it tricked me
425. 16:24because it was following the framework
426. 16:27of breakout and it was doing decent
427. 16:30volume to stay two and a half million
428. 16:31shares not great but as you see as i
429. 16:33went higher liquidity got worse and
430. 16:35worse and um
431. 16:36at this point i'd already taken a loss
432. 16:38on it and i about uh
433. 16:40almost like
434. 16:42doubled or tripled my losses by trading
435. 16:44on these liquid days
436. 16:46and uh yeah just really tough new
437. 16:48biggest loss for me on this one haven't
438. 16:50seen anything squeeze like from 11 to 2
439. 16:52500 before
440. 16:53so ended up taking a big loss on that um
441. 16:56just wanted to note that but
442. 16:59yeah for me it's all about sticking to
443. 17:01these stocks with great liquidity and
444. 17:02stocks that respect their risk levels so
445. 17:05main lesson there for me i will catch
446. 17:07you guys later i hope you enjoyed this
447. 17:08video it's my first video of the year
448. 17:11and um if you like it like comment
449. 17:14subscribe and if i get enough feedback
450. 17:17maybe i'll i'll make another video
451. 17:19um in a month or two
452. 17:22more of just kind of reviewing trades
453. 17:24versus what i used to do is review uh
454. 17:27monthly calendars i think um
455. 17:30it might be better just to review trades
456. 17:32so let me know what you guys think and
457. 17:34have a good labor day weekend i will
458. 17:36catch you guys later