Yesterday was another winning day for StocksToTrade Breaking News Chat … And this time their winning alert became my number one watch…
The stock has been one of our favorites in the SteadyTrade Team recently.
And yesterday plenty of members caught the morning spike.
But a lot of traders probably held too long…
It’s a tough lesson when you hold a winner too long and watch it turn into a loser.
And when you get into a trade without an exit plan, it’s easier to make emotional mistakes.
So today I’ll show you how some SteadyTrade Team members took advantage of my number one watch and trade plan. Plus, I’ll share why I like the stock even more today…
Why I liked TBLT Yesterday
TBLT was last week’s big runner. And even after the company did an offering, it was still up roughly 100%. So it was likely loaded with shorts…
And when the premarket news dropped, TBLT spiked 50%! Check out this incredible chart…
But you didn’t have to trade in premarket to catch some nice gains.
In fact, TBLT didn’t meet my target entry price until the market opened.
In my SteadyTrade Team webinar, I said it has the perfect recipe for a potential squeeze.
It traded massive float rotation in premarket, it’s a recent multi-day runner with news, and it held up all week baiting shorts. Here are my notes…
It spiked a little earlier than I’d like. But plenty of SteadyTrade Team members weren’t scared to take a trade…
Like I always say, if things are clicking for you, it’s ok to be aggressive.
And most of the members that took the trade didn’t wait for the stock to hit $7 or higher like my goal in my trade idea.
They took their 30-50 cent gains and moved on.
That’s the way to grow your small account.
You don’t have to swing for home runs. And you can always look to reenter…
What I was really hoping for was for TBLT to trade sideways all day and torture shorts. That way we could get the big squeeze and blow up short sellers on Friday…
That’s what we got. And that’s why I like TBLT even more today.
Why I Like TBLT Today
Fridays offer some of the best short squeezes…
That’s because short sellers have to pay borrow fees to hold their positions overnight.
So to avoid paying fees over the weekend, a lot of shorts will exit their positions on Friday afternoon. They also want to avoid the risk of news coming out over the weekend that could impact their position.
Especially if the stock they’re in doesn’t break down. That makes shorts nervous and they start to look for an exit.
And once a few start buying to cover it drives up the price. That can create a wave of buying where shorts are forced to outbid each other to get out.
And that creates epic short squeezes.
With TBLT, I like that it had news yesterday morning. And although it didn’t spike as high as my original goal — it hung around all day.
That means shorts didn’t get the big drop they were anticipating.
And that makes it a top watch for a potential Friday squeeze.
Get ready for the action with my game plan in Pre-Market Prep. I’ll see you there!
Have a great day everyone.
Lead Trainer, StocksToTrade