$ICCT another one of those "specials situation" trades just like $COSM you saw a while back that we dug into.
They made shorts comfy all day under $8.45 but likely had more cover to go from yesterday's issue.
They are rare - but when they come it's important to remember the potential.
I think the big takeaway from this trade is 12:20PM to 12:40PM where you see it break under prior support, collect shorts and then punish them.
While some look at that as weak - they see it as opportunity.
Been riding a stop - who knows when or how it ends - but you can see how $COSM played out and timing on the chart I gave you earlier.
Here is the $ICCT trade
You can review the thought process by scrolling back to pre market when I explained why this was a "special situation" and at which level it was game on and time for an imagination.
Essentially $COSM 2.0
When preparation meets opportunity.
If I was on desk I would have been out by $13-15 but was heading up to the beach to visit the @IClovertrading squad so wasn't on desk to sell.
I was outside and @Jackaroo_Trades said "Holy shit it's $22" so is typical fashion I sold some immediately after hearing that LOL then bailed down to 1/3 at $39.
When preparation meets opportunity meets double rainbows meets four leaf clover 🍀😂
Billionaire Paul Tudor Jones expects the Nasdaq to be higher at year end and he thinks the Federal Reserve benchmark rate will be around 2.5% by this time next year.
Recent IPO's related to Crypto
$GEMI - Crypto exchange founded by the Winklevoss twins
$FIGR - Stablecoin issuer and digital lending platform
$BLSH - Cryptocurrency exchange and media company backed by Peter Thiel
$CRCL - USDC stablecoin issuer
If you don't do this, Qullamaggie will be super disappointed at you.
"Okay guys I’m gonna teach you something. If you have a hot sector like this, you have to monitor, you have to create a watchlist and monitor all of the stocks.
Just scroll through them during the day. This is unacceptable guys, I’m super disappointed. Like I have 40 corona stocks in my watchlist.
I just scroll through them, the most liquid ones. I sort them by dollar volume. Most of them are too illiquid for me to trade, but like everyday, premarket and during the day, I scroll through this list, look for setups, look for news.
You know guys you have to do these things, you really have to, there’s really no excuse. And if you think there’s too many, just focus on the most liquid ones.
Markets like these are when you can make your whole year in a few weeks. You just have to do this over and over and over again."
Qullamaggie On Momentum Stocks. Remind you of anything right now?
"Best momentum stocks are the biggest frauds and total POS. Sketchy management. Same thing every year." - @Qullamaggie
Bitcoin is the new hurdle rate.
If you can't beat it, you have to buy it.
I explained on @SquawkCNBC this morning why so many investors are not producing the returns they think they are.