The greatest IPO in the history of mankind
There is a lot to be proud of today.
But what I'm most proud of is a trade on Halliburton.
It wasn't a monster winner. But it wasn't a loss. And we were fully prepared to finally take a loss on a trade today.
This trade perfectly exemplifies why VWAP is the only thing that matters, and why you never, ever exit your entire position at one price.
We saw the Fo-Sho-Bro pattern on $HAL. Fake them out, shake them out, VWAP break. We bought the stock at $32.89.
It went to $33.20. Right there, the trade worked. That’s a day's pay for most people.
But I got greedy. I was looking for $33.50, maybe even a retrace back to $33.85.
So, it rolled over. I sold some for a small loss.
I turned a winning trade into a small loss—but I didn't sell it all. Because I still had a piece of the position, I was able to see the trade clearly without panic. It broke $32.75, but it never broke $32.55, let alone the bottom at $32.38.
Instead of moaning about the "loss," I got right back in when it broke back over VWAP at the same price. This time, when it got to $33.20, we sold it. Then we sold some more. Then we sold some more. We turned what was a boring, nothing trade into the winner it should have been.
That is the patience and discipline VWAP instills in you.
But let's talk about the elephants in the room.
First, $SPCX. I’ve been telling you this is by far the greatest IPO in the history of mankind. The shorts have been overconfident because these IPOs have been terrible to own. But that’s exactly when they get squeezed.
We saw a fake-out, shake-out, one-minute multi-day VWAP break. The stock was down at $120. We bought the break at $121.70.
The stock wound up going up 10 points.
If you were playing the options?
The $124 calls went from $3.00 to $8.00.
The $125 calls went from $2.60 to $7.50.
Monstrous trades.
Then there was $CBRS. Two days ago, I said I didn't like the stock unless it went back to $165. Where did it go? $165. Do you know why the stock ripped from $165 to $207 today?
Because shorts overstay their welcome and get destroyed. If it goes back to $165 and holds, you buy it again.
And don't forget $GM. Another 1-minute multi-day VWAP reversal.
That makes 1,561 of these trades in a row that have worked.
If these didn't work for you, you need to be in the room.
Click here to watch the full video recap of today's trades:
If you're already inside the room, I'll see you tomorrow.
If you're not in here yet, here's the link to join us.
Kenny Glick | Founder, Hit The Bid
P.S. $HAL paid us because we stayed patient. $SPACE paid out massive options gains. $CBRS ripped from $165 to $207. These setups are happening every single day. Come learn what they look like.
