How Two Traders Worked Together to Build a Clear, Repeatable and Highly Profitable Stock Trade

In this video, learn how two traders worked together to build a clear repeatable and highly profitable stock trade. See how two savvy SMB interns together break down clearly, concisely, and in detail a trade very much worth adding to your trading PlayBook.

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in this video learn how to traders work
together to build a clear repeatable and
highly profitable stock trade hi I’m
Mike bellafiore co-founder of SMB
capital and we’re a proprietary trading
firm located in midtown Manhattan and
I’m also the author of the trading
classic one betrayed and the playbook
click our subscribe button so you don’t
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for you in the trading community see how
to savvy SME interns together breakdown
clearly concisely and in detail at rate
very much worth adding to your trading
playbook let’s get to work so today
we’re gonna be going over a back side
short that Tristan and I took in the low
flow s int on Monday it’s similar to one
that we took in byf C on Friday and this
is a trade that we think has a ton of
edge and is repeatable it also fits our
trading personalities and styles really
well so we’re focusing on identifying
and internalizing the specific variables
which indicate the opportunity here in
order to find and take more advantage of
these opportunities yeah so to just go
into like the bigger picture of small
caps we really like to see like the
whole environment what we’re getting
into because small caps tend to move
like collectively so in the previous
months we’ve seen like an influx of
volume and activity in the small cap
room and like a lot of this can be like
attributed to all the newly at-home
people opening opening accounts and
really trying to get into trading as an
extra Avenue of income and so there’s
been a lot of names above a hundred
percent with a lot of volume 100 million
shares traded on the day which is a
large increase to what we usually see
and so with such a strict amount of
supply with names some of the names have
less than 1 million shares float this
really has a greater influence on how
they can squeeze prices high so one
reason that we really like to look at
this is for the main reason being the
low demand so shares are limited and
this leads to the collusion of not
wanting to exhaust yourself early to
fight trend if you are trying to if you
do have a short bias on any of these
names a second point to this is knowing
who the market
participants are that you are playing
against so really knowing who’s on the
other side of the trade and with them
having minimal experience and a tendency
to chase whenever they do find
themselves offsides or underwater in
their positions it really gives a
greater extension to the downside and I
really liked what you said about Jack
what you said about finding particular
setups that that your niche and so
yesterday we had a huge milestone at the
firm swang past ten million in net
trading profits for the year it’s June
this is an enormous accomplishment and
you know I share that with you guys I
share this accomplishment with you guys
because there’s a lot that came before
him actually getting to that point which
you can all learn from first he became
consistent he was in your seat for the
new hires for the interns the developing
guys who are coming up the curve he was
in your seat he went through the
training that she went through except I
have to say the training that you guys
are going through right now is much
better than what we what he went through
because we’re always getting better
he started right out of college just
like you guys are or about to his first
accomplishment was focusing on being
consistent and that was understanding
what he was doing well even at the
beginning and building from there and
you know for for a lot of you in getting
to that point was not a clear path there
were some obstacles in his way it wasn’t
just a beautiful uptrending P&L line to
success there were some roadblocks there
were some underperformance
sometimes where he struggled and so this
remarkable trader
it was now where he’s at went through
those those periods of doubt and
roadblocks which you guys are going
through we’ll go through full experience
throughout your progress and he really
tapped into the youth the resources at
the firm he does a great job utilizing
dr. Stein Barger one of the famous
quotes from dr. Steen Barger during a
mentoring session with swang who was
experiences first drawdown was dr.
steinberger saying to him don’t let your
swing trading get in the way of your
Swank trading or said another way stick
to your unique strengths swaying which
which are world class and I swang got
bigger he had to lean on Carlton for
support and risk management health no
one at the firm G chats me more about
their trading at the firm than swanee
constantly hitting me up for that he’s
still getting better there’s still very
identifiable trades that IG chat with
him about daily that he can get better
with that we’re talking about how he can
get better at that he would acknowledge
he can get better at and so for you guys
is I certainly hope that inspires you to
think about hey what’s the next level
that I can hit in my trading you
shouldn’t be thinking about 10 million
nett and trading profits right yeah you
should be thinking about and that’s not
how he got there he got there step by
step gold buy gold new level buy new
level planning actively intensively
working on specific things to get there
and so you’ve got a guy at your firm who
sat in your seat who took who had the
scene who had actually less resources
than you guys have and he is where he is
now what are you gonna do next what’s
that next thing that you can do to get a
little better in your trading and I
would just submit that one of the things
that he did particularly well at the
beginning was understanding his
strengths archiving them like you guys
are doing right now just like you’re
doing right now just like you’re doing
right now internalizing those trades
reviewing those trades understanding why
they work understanding why they work
for you for you for you and then
planning how you can build from these
particulars trades super important so
moving on to the intraday fundamentals
si and T stands for sin text
technologies they’re in healthcare and
medical devices their business is they
make wound dressings knees hips and
spine and they’re they’re the only FDA
registered producer of certified silicon
nitride medical devices in the world
what was causing the gap up and
attention on Monday was a press release
of a laboratory study in which they
found that the stock stars COV to virus
which is related to Coba 19 and the
pandemic that we’re in right now was
inactivated when it was exposed to their
sintered silicon nitride powder and the
company announced that they expected to
share additional data soon once their
findings are published so this catalyst
this Anuj catalyst caused a gap up of
over 300% at its peak in the pre-market
and ended up bringing our vault over 300
on the day which meant that the stuff
was very in play and a lot of
participants and real order flow for us
to take advantage of if you want to
learn three real-world setups that our
traders use including this simple setup
that we teach all of our new traders and
the set up that turned one of our
traders into a seven-figure big money
earner check out the free webinar that
were
currently running just go ahead and
click the link that should be appearing
right now at the top right hand corner
of your screen that’s gonna open up this
free registration page in the new window
so don’t worry you’re not gonna lose
this video you’re gonna learn more in a
couple of hours from this trading
workshop then from years of online
education yeah so whenever we see
something that has that’s this in play
and it is also a small cap I really like
to what we really like to get a sense of
character for the stock because a lot of
these low floats tend to have the same
characteristics from past moves to to
now and so whenever we do this we really
look to see like how it performed on its
last on its last gap ups and what kind
of company financially it is so on the
last 17 gaps above 20 percent it’s
closed below the open 94 percent of the
time and so that’s around 16 occurrences
and all those 16 occurrences that it has
closed below the open it’s closed down
approximately 20 percent and then
digging through the filings a little bit
the company had six months of cat cash
left remaining and they did have a ATM
available to sell shares and they have
filed numerous offerings in the past and
this is one of their main sources of
income and so this is like really
important to see what kind of company it
is and if they made dilute shares on
this run up and actually they did file a
new ATM at the very next day in
premarket hey guys how did you do this
study the last 17 gaps about 20 percent
closed below 95 94 percent of the time
it’s something that I’ve tracked by hand
to the past two years but also there was
another intern who also had the same
statistics over the last 17 jobs so I’d
highly encourage you to continue doing
more studies like that yes and this is
like something that really helped us
form a direction for trend once we saw a
change in character
on the stock yeah that’s excellent work
moving on to the statistics of the stock
now which are good to know before
trading it so the average daily volume
was 1.5 million ATR was 0.09 but
actually in the pre-market on this day
before the market opened it was already
doing a range of over 1 point 5 so that
attracted us short float was 0.93%
which fairly is really small beta was
one point four eight shares float was
ten point thirty million which means
it’s a low flow under 50 million but
it’s also relatively low so as the
possibility of squeezing pretty hard
institutional ownership was a point 90
percent which is very low and inside our
ownership was three point six eight
percent also pretty low these pre market
trade variables are what really got us
attracted to the stock in the first
place and there are those specific
variables that we’re trying to drill
down on so that we can also incorporate
scans and technology to find more of
these opportunities so the first was low
flow of course less than 50 million
shares this means that there are fewer
shares less supply available for trading
and therefore a higher volatility we
also saw a gap up of over 100 percent so
this gap up an increase in price
dramatically increases the value of the
company the market capitalization and
when it’s not in line with the actual
fundamental value of the company when
there’s that mismatch this may bring
people in to sell and will bring a lot
of attention into the stock what we also
like to see is a fade on relatively low
volume and then start to pop into the
open so what this does is it makes the
stock appear weak it’s also gapped up a
lot and appears a weak so there’s a lot
of room to the downside this will
attract sellers the short pops early on
in the day potentially leading to traps
and exaggerated up moves caused by
squeezes of shorts that are trapped and
turned into buyers and also we saw a
volume a multiple of the average daily
volume in the pre market and this signal
that many players were interested in the
name so it will have the real order flow
and be in play for the day so whenever
we look at one of these names really
like to look on outside in perspective
so look at the daily then
zum downs like a multi-day chart then
like a 15 minute five minutes so
starting with the daily we really see
that on all of these major gap ups
they’re on volume they all roll read
basically on the first day so that’s a
huge red flag and that goes right along
with the characteristics that I said
earlier and what we really see is how
this three level has been a major level
for this stock that it hasn’t been able
to gap up and hold above on volume on
any of its previous runs imagine what
the daily bar may look like before the
day actually happens and whatever it
does that we can kind of picture it to
look like the previous day’s into that
three level and so the intermediate
analysis is all let me say a small cap
which is relatively dead until it does
have a news or press release or a
catalyst that pushes price higher so
this is the pre market action that we
saw before the open at its peak it hit
around 6:15 ish you gapped up around 350
percent to three point 70 which was the
pre market high and then we really like
to watch the stock coming in to 7:00
a.m. because this is when the major
brokers open and a lot of volume as you
see in the bottom volumes when it comes
in and on this first candle at 7:00 a.m.
it’s already been down trending just
right under view up price spikes over
three and fails and continues to
downtrend int of 2.50 so then this level
buyers try to hold and we see a
consolidation over it but it ends up
breaking down and the down trend
continues and this is the kind of the
fade into the open that we were talking
about before but then coming close to
the open we see that that downtrend fail
and it’s and it reclaims the 2.50 level
and starts to pop into the open it’s a
major thing about this price action
before the open was that it gave us more
confidence in the three level because of
that pop of 7 a.m. on really high-volume
failed above it the high of that bar was
actually 3.11
and it also made the stock appear weak
which may attract shorts to the stock to
sell pops hey guys how did you go about
deciding to do this playbook trade
together so dr. s has been speaking a
lot on teamwork and how this improves
the learning process and so on Friday we
noticed that we traded B YFC together
and had when we were talking through the
trade together we had also been
brainstorming and discussing trades
through the previous couple of weeks so
then we decided to try to collaborate on
a play book share ideas review the tape
and discuss what the best possible
entries and exits would be and how we
can repeat the trade yes and after we
did the B YFC
playbook together we both came back and
said that we really felt like we learned
like 10 times more on doing that play
book together just hearing other
perspectives and listening to like what
each other has like said in the past
about byf C and really just like beating
off of each other and like having more
of like all all edges covered within
that playbook so we thought about doing
another one and the same result happened
with this one as well I highly encourage
you and the other guys to use that as a
best practice really like the idea of
guys didn’t play book trades is great
but then also doing play book trades
together and seeing if that causes even
more learning want to highlight what you
guys are doing or what you’ve done in
this play book as something for us to do
more of you guys personally and other
guys newer guys new hires and some of
the guys you work with and also
something that working together helps
with is accountability on things that
we’re trying to improve so for example
I’m trying to size up in these setups
and Tristan’s holding me accountable to
this which has been really helping
recently the way we break the rest of
these technical analysis slides down
is on a moment-by-moment basis because a
lot of these are pattern recognition
plays and if we can really break it down
moment by moment as it progresses it’s
really helped us internalize and see
those in the next setups
and really help us a lot with our
trading that’s what really we learned
from the most and so off the open it
gave like a very quick spike up into 290
and it was immediately met by a lot of
sellers on high volume and it was soaked
and immediately blinked back down to 270
really fast and really showed a lot of
weakness on the open so after that it
ended up compressing it down to two 50s
and into B WAP and we noticed a really
big bid at 250 holding price it held
price to the penny at 253 minutes in a
row on high volume and with this
compression in to be WAP and 250 holding
we noticed I couldn’t track a
contraction in volume as price was
holding and ended up moving away from
250 every time it retry retracted off of
it so once it held 250 after the initial
weakness that it showed on the open we
believe that a lot of shorts saw that
weakness on the open and started sorting
pops as it started compressing down to
250 and as soon as it gave any extension
to the outside stops were triggered by a
lot of shorts coming in and a lot of
buying coming in off of the 290 hide day
break and so on this move into $3.00
there was a large wick on 3 million
shares of volume which is a ton of
volume for a minute and there’s clear
selling and soaking on the tape which
produces large wick to the upside which
we noted in voice together that we
really saw how much volume came in and
it wasn’t able to push and sustain price
above that previous 290 high so I really
like what you guys are doing here you’re
thinking about what the other market
participants are doing how theirs
how they’re reacting this is different
from what lots of people do mistakenly
which is they try and predict how people
should react how the stock should react
what you guys are doing is much more
advanced much better for the active
trader much better for you at getting
your career to develop consistency which
is you’re not playing that game you’re
playing the game of hey what are people
thinking on the other side of the trade
how are people reacting and why are they
reacting and then how can that help me
if I understand that highly encourage
both of you and others to continue
thinking that way there’s real edge and
you figuring out what the other marked
participants are doing and how you can
take advantage of that something that I
noticed while watching this also was
that shark scalp this to the long side
when we noticed that the shorts were
being trapped is stopped out so that’s
also important to know yes that’s also
important
what a great traders doing that’s what
I’m trading yeah you going so then yep
so then after this high volume test
failed with clear selling on the tape
price came down to the 21 EMA which we’d
like to use for trend-following sometime
as a line in the sand to get a feel for
the overall sentiment and positioning of
the players so it comes in and it holds
the 21 EMA to the penny almost and it
bounces right off of it and so our
thesis is that this bounce is likely
fueled by the shorts that were stuck in
that opening range that are trying to
get out as close to break-even as
possible so they held the trade into
that three level they were down a lot
now they’re down less and they want to
get out as close to a break-even the
following push into three on the tape we
see the same circumcised as the first
Bush and this also begins to show signs
of weakness
the major thing that we noticed was
price not being able to hold above the
previous high and also on the tape there
was a very clear seller at three three
ten who was absorbing all the buying
pressure and holding the stock down
before the failure so then again we come
into the 21 EMA and we bounce and get
back above three but once we’re back
above the same changing character shows
up from strong to weak and is not able
to sustain price at these high at these
high levels this also causes a lower
high on the price chart which is another
sign of weakness and we also notice on
the tape that the 310 seller steps down
to 305 and continues absorbing there
with the same characteristics as before
to follow up with Dax I’d the 310
sellers stepping down to 305 that was
one of the really large changing
characters that we saw during this trade
and so once that happened we’re really
all eyes on this 21 EMA that is held
twice on the up move and now that
sellers stepping down and we’re gonna
start compressing into that level um so
that’s really gonna be the next changing
character that we’re really looking for
so if ice breaks down this 21 EMA for
the first time and it’s held the entire
way up and this shows like a short-term
trend reversal as this is what we’re
looking for and we’re coming down into V
walk now which held on the open as well
so once all the early shorts which were
stuck
whenever 250 couldn’t break now stopped
out on all the wicks and all the volumes
done above three dollars and all Long’s
expecting further upside continuation or
are the only ones left in so with this
with Long’s being the only one left in
there’s nobody else to buy at higher
prices and those participants eventually
turn into sellers as soon as they as
soon as 280 is broken down or the 21 is
broken broken down and they start a
chain reaction of selling immediately
hey Jack this is the moment when you
want to be aggressive
you mentioned Tristan was holding you
accountable for sizing when you see this
change of character when you can
identify specifically how you are
characterizing a change of character
you’re really seeing it you’re seeing it
you’re seeing you’re seeing it and
before that your thesis would say maybe
this is up too much and it is too much
now you can make an a-plus trade now
it’s time to be aggressive now is the
time where it’s risky to have too little
risk on now is the time for you to be
asking your accountability body ecology
accountable definitely this was the
moment that the major change in
character occurred and we saw that
downside come in so after this big flush
under view op the stock doesn’t bounce
at all yeah it gets under and it can’t
reclaim and this is a big sign of
weakness
so sellers are pressing lower in this
tight downtrend consolidation form and
buyers are unable to press the price up
more than a few cents at a time so this
should be noticed noted as one of the
biggest changes in character after
showing this topping action in lower
high that we saw this one also put price
consolidation right above a key level
which was 250 that we saw in the
pre-market and on the open and this
really got our attention as well because
when price consolidates just before an
important level it’s building up the
energy to be able to break through that
level cleanly more times than not so we
see this consolidation and price sort of
pops into the 21 EMA you know but it
fails here and it’s been respecting this
for most of the morning so after
continuing this bounce and failing up
the 21 EMA price ends up going straight
through 2.2 50 when buyers end up
pulling the bids so what we saw on the
tape here there were a stack is at 250
they started to decrement but they were
quickly dropped so that gave us the idea
that they were pulled and priced came
straight through on increased volume so
now at this point all the Long’s from
the opening consolidation that are
likely risking 250 are underwater so we
see an acceleration of
as the stops are triggered beneath this
breakdown and price drives away which is
what we like to see once the large
imbalance of shorts versus Long’s was
sorted out on the fives discovery Long’s
found themselves under water for the
rest of the day and we can use B wapas
like a quick barometer to like kind of
judge how the stock is relatively weak
or strong just as at a quick glance and
we can see how weak this really is from
how extended it gets from be wat to the
downside and lungs are unable to create
a meaningful balance at any time
throughout the day as a stock Brown
grinds lower and closes near low a day
which was very clear to us throughout
the day so reading the tape like we’ve
mentioned a lot of these but we go a
little bit more into detail on this and
like on the open the 250 bid is hit hard
and soaks all the selling and holds to
the penny and actually on that on those
three candles it actually decremented
all the way down to showing maybe like
ten shares hundred shares and then it
completely refreshed and it did that one
or two times on the open which was a
very key thing to note for us to say
that is a real buyer there and he is
serious about holding a price there and
so the clear selling next that was the
clear selling in the up move into the
three on high volume which was three
million volumes three million shares
traded in that one minute and we noticed
on that candle as its going up there was
large offers on the level – at 93 cents
94 cents 95 cents now we’re getting
filled on the way up and once it wicks
up above three and then comes back down
and those refresh and show the same size
we really note that as really one of the
changes in characters as there’s really
selling into these up moods and then the
really key points is like 3 & 4 for this
trade which was the large seller that
stepped in at 310 this offer can be seen
as sticky as it shows up and soaps a lot
of buying the buyers cannot move price
and once the offer lifts for like maybe
a couple seconds it reoffer z– at 310
immediately and once it reoccurs at 310
it push
down to three oh nine to eight through
seven I very quickly and whenever it was
above it was at 311 312 and they could
not push price above that for they
couldn’t hold it above that for more
than a couple seconds so when the seller
reappeared on the second or the third
push in the above three and he stepped
down to 305 showing the exact same
characteristics that I just listed that
was a really key moment for us as it had
been multiple changes in characters in a
row with the tape lining up with the
chart lining up with the overall picture
that we had lining up with the
characteristics that we laid out for s
int earlier so all those coming together
really gives us a large amount of edge
that we think once we see all those
changes in character and once it is
confirming to us and then like Jack
mentioned consolidated just above 250
and they immediately pulled those bids
as soon as that tried to retest which
was the exact opposite of what happened
on the open so this really confirms our
thesis on what this stock should do for
the rest of the day okay so when we’re
looking at executing this trade and
figuring out where we want to be in and
what we need to see on the tape and in
the price action like Christian
mentioned lining up these are the main
variables that we’re looking for so
first of all we saw our wall extremely
elevated it was over 300 so this means
that there are a lot of participants in
the stock creating a real order flow and
volatility that we need it was also up
250 percent plus since the day before so
like I mentioned before this meant that
the stock was overextended and price did
not align with the fundamental value of
the company so there were many
participants trying to short it and as
we saw before shorts were trapped early
driving price higher so those early
shorts and the consolidation over 250
who were getting in on the pops on the
open stopped out and drove the price
higher into $3.00 and then we saw it
gets above high a day with an influx of
Long’s buying that late high they break
out so these late Long’s that are
chasing price
we’ll set them up set themselves up to
be trapped if price drops and they
needed a stop out and become natural
sellers we also saw a price become
parabolic into the whole number so when
it moves very quickly and expend a lot
of energy into three this is a sign of
capitulation and buying his Austin into
a level that’s likely to also draw in
shorts we also saw long strapped after
stalling
so when Long’s are caught on the wrong
side of the market once the last buyer
had bought there was minimal support
beneath so that’s why price fell out so
quickly we also saw the large seller at
310 stepped down to 305 on the tape so
this gives us added conviction in the
trade so this is the tradesmen
management that we really thought helped
us capitalize on this opportunity to the
best and this is the way that we really
played it so initially after that large
volume bar above high day got soaked
into three we stopped in one we started
in one tier there risking above 315 315
was a daily level that we had that had
also been relatively respected during
free market as well so on the second
push up we really wanted to watch price
action there and see if we were still
correct with sellers stepping in so we
weren’t gonna add right there because we
really wanted to see price and we knew
that there was still opportunities that
it would give us opportunities to enter
in more with greater risk reward and
greater confirmation after if we were
correct and so once we saw that three
tins seller appear and then step down we
added in two to short right here still
risking the offers lifting in 315 so
once this 21 breaks down we really feel
comfortable with our position and we’re
looking for a bounce right here but it
never comes so this is something that
we’ve gone through together on multiple
names that we see really fade hard to
the downside it does it never gives us
balance and that’s something that we’ve
learned doing these play books is this a
slow grind lower and never giving about
showing extreme signs of weakness in
this
it pops back into 21 which had held on
the UH on the move the entire way we’re
adding another tier short there as we
had spoken to many of junior traders who
did trade this and asking them for their
input and advice on how they traded it
what they saw were the best entries and
this was also one of them that they had
mentioned was a high risk reward
probability entry as well so once we get
that second down move we’re gonna take
off one tier and just strong downside
momentum as we like to cover risk and we
hold the rest for a trade to hold as our
core so we hold three tiers short until
a clear change in character like we said
we can use B whap as a barometer to see
how to judge how strong or weakest
rotted stock is and with how extended it
is away from view off we feel like it’s
extremely weak and we feel like we have
a good gauge of character on the stock
and noting the change of the
characteristics on the stock whenever it
does close below the open it’s usually
around 20% and I believe this one the
close around like 25% down from the open
if I’m not mistaken but we really never
saw a clear change in character because
we were watching the how high the volume
was selling volume versus buying volume
on each of the breakdowns which shows
are still clear selling in the stock and
they’re still buyers still can’t push
price as much do they want so then we
take off the rest of our size
whenever 190 can’t break down for a
second time right right before the close
and this is our trade review so like we
mentioned before this is an A+ trade
that we believe can be replicated with
edge over time with big winning trade
potential we think this is a trade that
we can build our careers on so this
trade begins with seeing a change in
character on the tape followed by a
clear chart setup with technical
guidelines confirmed by a large volume
breakdown the first time the price is
not able to sustain that parabolic push
up into 3 so this trade is a trade to
hold while we execute and may scalp
around our core to maximize risk
reward these we often see fade the
entire day once they confirm that
backside failure and people are just
something their shares so something that
was really important to us for the rest
of the day like Tristan mentioned was
the cell volume versus the by volume and
the breakdowns so on all the pops you
weren’t really seeing any continuation
of the momentum to the upside or high
volume and on the downside it was kind
of the opposite we were seeing more
volume come in and it was continuing to
drop price once we got this initial high
volume breakdown and kind of back side
confirmation we really need the stock to
prove to us that it’s gonna reverse in
order to get out because we want to
capture the the real move and the entire
move another thing we’re thinking about
for this trade and other ones we’ve seen
was that SMB the traders are really good
at catching the the back side of these
trades but we also want to capitalize on
the front side sort of like I mentioned
Sharpe did on that initial pop so that
short squeeze after the failed breakdown
at 250 in the morning provided a great
opportunity on the front side which this
is a separate trade but we want to
capitalize this on on this as well
instead of just waiting for the change
of character and waiting for it to prove
to us that the back side is coming we
could be in a in a long position
actually taking advantage of this other
side of the trade and then flip and make
a new trade once that turn is confirmed
a hundred percent you can just see an
example of that over the last couple of
days and I know tremendous amount of
money you can make on the front side
lots of money you can make on the back
side but if you can put those two
together
even more opportunity that what I really
liked did you want to add anything else
to this review I was gonna add a few um
so like I had mentioned from the bigger
picture that we didn’t want to exhaust
ourselves early so whenever we were
coming into this we wanted to see
changes in character on the tape first
and then we wanted to see a chart setup
and then we wanted to see conformation
with high volume breakdowns so we didn’t
exhaust ourself early on this trade and
really because this we did know that
this had a lot of potential due to the
characteristics that we outlined and so
we did want to just short blindly we
wanted to see a lot of confirmation
before we got in due to the market
environment that we are in
but once we we felt like once we did see
that confirmation that we did have a lot
of edge in this trade and that’s why we
want to think we can replicate it over
time great really liked how you did a
historical analysis as you mentioned at
the start I would encourage you to do
more of that and see what the odds are
or a continuation or reversal more of
that love to see you guys actually make
that into a separate play book trade as
a matter of fact really like how you
guys did this together encourage you to
keep doing that encourage other guys in
the group to replicate this really like
how you waited to see the change in
character to hit it hard that’s where
you want to be aggressive really like
what you ended with which is how to get
long some of these names which you know
we’re gonna go down eventually but
probably not they want and maybe not day
two and for which there’s a ton of
opportunity hey go ahead and click our
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