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How to create a Trading Plan Premarket for Day Trading? (Part 2) $CLVS - YouTube
Channel: Humbled Trader
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so it's pretty my kids 8:00 a.m. and you
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have your list of all the gaffer's and
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their news now how do you exactly turn
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that into an actionable trading
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watchlist I'll walk you through step by
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step in a three-step simple process how
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to create a pre market watch this
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spoilers the trading plan should have
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more than just a ticker in the headline
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and you definitely shouldn't be
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following chatroom alerts that's telling
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you to buy the high of the day break out
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of every single stock that has a news
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title for beginner traders trading with
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a small account if we just focus on
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creating your own trading plan and
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trading your plan they'll eliminate a
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lot of the formal chasing and other bad
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habits such as holding your losers for
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too long and if it's too much work then
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maybe following chat room alerts easier
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I heard they are making a train
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Lamborghinis every single day now in the
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last video I talked about step 1 which
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is finding the pre market Gabor's and
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step 2 which is finding the news
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headlines and analyzing whether the news
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is positive negative or blatant pump
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like I mentioned in the last video just
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because the news is positive doesn't
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mean the stock will go to the moon and
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even if a press release seems like
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[聽__聽] doesn't mean the stock can now
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go 300% 400% in this video we'll be
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going over the next three steps into
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creating a pre market gameplan and if
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you'll appreciate videos like these
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please remember to drop me a like for
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the YouTube algorithm so after you've
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done step one and step two the third
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step is drawing out the support and
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resistance lines of a stock on the daily
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chart let's take a look at clvs a
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biotech smoke app stock that's been very
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hot lately so after identifying all the
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news we can see that this stock had a
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great q3 earnings upgrade by Zacks and
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also a potential merger and acquisition
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deal so now we know fundamentally
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there's news to justify this gap up and
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potential follow-through to the upside
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and the stock isn't just up on air or
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fluff news
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or even worse no news at all which could
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put you in a potential risk of a t12
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Holt by the Nasdaq so if we're looking
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at the stock pre market on November 29th
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we can see that a gapped up above the
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previous day's highs and Wednesday
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November 27th around 12 60s but before
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we zoom in to analyze the intraday
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levels we want to look at a stock clvs
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on a daily chart first so you can see on
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the day D the 1260s level correspond to
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a daily support line as you may have
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remembered from a how to draw support
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and resistance lines video the areas
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that show above-average trading volume
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as well as these major dips that you
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shapes on the daily chart these are
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areas of interest and you've if draw a
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line across a 12-6 East price level you
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can see the line has touched at least
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three candle areas so these price levels
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act as psychological support and
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resistance you can see that this price
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level used to act as support for the
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stock to bounce off once or twice over
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here and once that support is broken the
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stock tanks even further so that
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previous support becomes later
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resistance so that's just a brief
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summary of how you draw support and
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resistance levels for your daily
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watchlist so in this case for clvs once
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we broke above the 12 sixties prior
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resistance successfully and hold above
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it that should be the new support level
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and give that support hold you can see
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the next resistance is 15 50s and after
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that 16 50s
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these are all just basic technical
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analysis and like I said in a previous
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video how to let winners run by
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utilizing the daily charts just because
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you draw resistance lines around the
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1650 1810 and the 1950s area does not
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guarantee the stock would run that high
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but with enough volume momentum and hype
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it could nothing is guaranteed 100% in
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day trading I don't care what all these
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day trading market didn't tell you
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there's no guaranteed Lambo handout and
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there's no secret sauce they'll make you
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a million dollars in six months the only
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thing now guarantee you a hundred
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percent success rate is if you smash the
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like button to go long on this channel
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we have grown from zero to now over
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25,000 subscribers in less than 12
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months so somebody do the math here I
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think that's like ten thousand percent
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ROI thank you guys so much for your
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support and no there's no short locates
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available for the channel so after
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you've completed the step three and draw
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our support and resistance lines on the
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daily chart the fourth step is to look
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into key data on the stock that includes
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the float market cap short interest
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financial metrics and SEC filings this
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step isn't as important if you're
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trading real companies like Tesla Roku
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and Facebook but this is crucial if
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you're trading smoke a penny stocks with
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a small account like I talked about in
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this video
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you cannot just blindly buy every single
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stock gap up that has news so let's
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continue using clvs as example here so
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I'm using the key data on this stock in
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the daily charts price levels as of
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November 30th because I cannot see the
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future I know there are many gurus out
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there who claim they can do so and
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they're always a hundred percent right I
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am NOT like that so we can see that a
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float for clvs is fifty point seven
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million so that means it's not a low
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float stock that will squeeze two
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hundred three hundred percent within ten
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minutes like the rest of the penny
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stocks and its market cap is around
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eight hundred million so it's considered
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still a small cap stock but it's not a
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micro cap penny stock like PS TV or AP
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DN but since the market cap with CoV s
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is more substantial and a lot bigger
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than the other micro penny stocks that
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means bigger institutions who can
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actually invest and trade the stock
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rather than mostly retail like the rest
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of the penny stocks so that's something
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very
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important to make note of when you're
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creating your pre market watch list like
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I mentioned in my various trader
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psychology videos you wanna know what
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kind of traders you're up against and
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whether it's smart money or dumb money
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on the other side now the next part to
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step number four is looking into SEC
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filings it's very important to identify
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that clvs is a biotech company if you
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see many of my SEC filings videos you
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know that these biotech companies are
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almost always poor for cash that's even
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more so important for micro-cap penny
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stocks like PS TV and B PTH so it's
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important to look at these companies to
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see if they have an active s1 o s3 to
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register to do an offering so after you
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looked at all the key data for the stock
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and the SEC filings the fifth step is
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the most important but often the hardest
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part which is putting together all the
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information you've collected so far from
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step one to four and using your past
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experience in screen time in the current
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market conditions to plan out the most
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likely scenario to happen short term
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what day traders so most likely were
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looking at intraday timeframes and
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making educated guesses and what the
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stock could do to the upside or downside
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so putting everything together now for
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clvs step one yes it was a gapper step
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two yes it does have valid news step
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three drawing out key resistance on the
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daily charts of where the stock could
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potentially go to if there's enough
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momentum and volume and also the support
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areas of where the stock could
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potentially dip down to and consolidate
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in that area before moving the next leg
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up that for the stock is not a low float
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it's a small cap but not a sketchy penny
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stock it also has a bigger market cap so
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there could be more funds and
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institutions playing it it's a biotech
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stock with an active shelf registration
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so that means they could try to raise
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some money soon but just because they
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could use it doesn't mean they will do
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so right away they can do that tomorrow
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next week way even next month so looking
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at clvs daily charts you can see that
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it's been very hyped up recently with
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above-average volume it's also going
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parabolic technically on the daily chart
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and breaking above all the resistance
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levels and if you know anything about
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day trading you know to not fight the
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trend especially when there's bigger
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institutions and smart money involved
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now looking at the past behavior and the
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intraday price action on clvs you can
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see that this stock likes to push early
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in the morning and then quickly pull
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back sometimes they even sell off and go
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red on the day first before
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consolidating and voting coming back in
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for it to go red to green and to rip
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even higher on a breakout so that's why
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I'm November 26 instead of chasing the
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high of the day break out on clvs I made
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the plan to short the retest of
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yesterday's highs and covering into
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every single wash early in the morning
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and that's because of the string time
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and experience I've spent watching the
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stock and seeing how it treats intraday
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and once the selling slows down we could
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potentially loan the curl on clvs
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and if there's enough volume we could
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see the stock going red to green and
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breaking above yesterday's highs and all
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these price levels are determined pre
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market before I entered a stock using
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daily support resistance levels previous
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day closed and also sometimes pre market
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highs and lows and I repeat the same
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process steps 1 to 5 for all the 4 to 6
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stocks that I'm watching every single
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morning and I start doing so from 4 a.m.
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Pacific time sleep what's that it's
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become really fast now and each stock
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should take me about 5 to 10 minutes and
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sometimes a little bit longer if I'm
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looking at dirty SEC filings and stocks
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I see gix and ap DN I'm sure everyone
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has a different process for creating a
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pre market watchlist but I know for a
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fact they're having a ticker and the
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headline isn't enough and just sharing
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my Watchers planning
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and what worked really well for me so
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far if you guys have a different process
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of creating a watch list please do let
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me know in the comment section below as
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always these detailed day trading videos
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take me 10 to 12 hours to make so if you
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wouldn't mind tapping the like button
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I'd really appreciate it and please do
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subscribe if you want to see more in the
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future thank you guys so much for
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watching as always I'm the Humboldt
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trader and I'll see you guys next week
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