Do you know how to spot the supernova setup? If you trade, you gotta know this pattern.
Welcome, once again, gang! It’s time for the latest edition of Bohen’s Take.
Read on for an update on my latest adventure with Tim Sykes, and the crazy hotel I fell in love with, spurring my latest obsession…
You’ll also hear about how I’m rowing 200,000 meters to burn off the Thanksgiving turkey. Plus, I’ll talk about this super simple stock setup that came before a HUGE move…
Let’s get to it!
Table of Contents
What’s the Haps?
Well, gang, winter’s here … at least in Michigan. So, time to kick your feet up and be lazy, right?
Wrong! At least, not for me. I’m back on another one of my wacky physical challenges…
This time it’s on my rowing machine. I’m a huge fan of rowing machines for cardio. It’s one of my favorite ways to exercise indoors…
Anyway, the idea is to row as many meters as possible between Thanksgiving and Christmas Eve… It’s an awesome challenge by Concept2, and a big incentive (on top of staying fit) is to help raise money for charity. Check out the 2019 Holiday Challenge 100k Honor Board here.
My goal is 200,000 meters in that time because I’m Mr. Extreme. You can join the challenge, too! I invite you to join in and try to match me. Feel free to follow along and message me on Instagram…
Mischief With Sykes
Apart from that, I had another speaking event in New York City with Tim Sykes, which was a lot of fun. We’re really mastering our stage presence, and we put on a whole Tim and Tim show. But the crowd seemed to really enjoy it…
I spoke about how trading is the ultimate side hustle and how I value my freedom and time as much as I value money.
That’s the cool thing about trading, you don’t need to dive in full time and hope you make it. You can start out as I did: keep your day job and still trade great setups like the supernova.
Another cool thing about the event was the crazy cool hotel I got to stay in. It was the TWA Hotel located near JFK airport, and, wow, does that place have some amazing throw-back style.
The hotel is designed in the mid-century modern style. Maybe some you won’t know what that means … just think 1950s American, rocket era, Pan-Am flying kinda style.
Seriously, walking around the hotel feels like you’re hanging out in some kind of 1950s idea of a futuristic space ship. I think it’s totally inspiring! Check it out if you get a chance.
And last but definitely not least … if you haven’t heard, we’ve added a new host to the SteadyTrade podcast! It’s none other than Kim Ann Curtin, also known as the Wall Street Coach. I’ve been doing some coaching work with her for a while.
If you’re not already a regular listener to SteadyTrade, please come and check out the show. Kim brings so much to the show. She helps me keep Stephen in line, and she’s incredibly smart.
➡️ Subscribe to SteadyTrade here, or check us out on YouTube.
Trade of the Week
In the last edition of Bohen’s Take, the trade of the week was Clovis Oncology Inc. (CLVS)…
For this edition … it’s also CLVS! This stock just keeps on giving. We got wind of this stock back on November 8, with a first green day play.
Clovis Oncology Inc. (NASDAQ: CLVS) with a Supernova style spike and collapse (Source: StocksToTrade)
That’s where we see a stock in a downtrend suddenly put in a big up day. Often it’s a signal that things could be changing for the stock…
It’s a simple and effective trading setup that you can easily search for with the super easy to use StocksToTrade stock scanning features. Come and check them out with a 14-day trial for just $7.
After that initial green day setup, we saw the stock run up a few bucks. It was a great, easy penny stock setup and that’s why it was the trade of the week.
Since then, the stock has continued to go bananas in an old-school supernova setup fashion.
Since my last update, we’ve seen the stock trade from the $6.50 level, run all the way up to over $17…
Then, as happens with every supernova, the hype stopped. The stock is back down to the $8s as I write this. That’s a ton of volatility with plenty of opportunities to play.
It also shows the power of low-priced stocks. We’ve seen a pretty simple setup send a stock from around $4 all the way to $17 in about three weeks, allowing nimble traders some pretty hefty gains.
Then we’ve seen the stock collapse from about $17 to the $8s, allowing nimble short-sellers to get a piece of the pie as well.
For a small account trader, these setups like the supernova and being quick enough to ride these moves can be great for building an account. If you like these kinds of setups, they’re what we’re looking for each day in StocksToTrade Pro. Come join us if you’d like to supercharge your trading skills!
What Have I Been Reading?
If you read my updates regularly, or you follow me on Twitter or Instagram, you’ll probably have some idea about the kinds of books I like to read…
You’ll of course know I love all things trading, investing, and finance… You’ll know I’m pretty big on performance psychology and meditation… And throw in some books on leadership, hunting … plus construction, landscaping, and welding.
That’s a lot of topics. So, what am I reading right now?
After staying at the TWA Hotel in New York, I’ve gone on a mid-century modern book-buying spree!
These are massive coffee table books. I probably won’t read all of them, but I’ll definitely get a good taste of my current nostalgic interest.
Wait … this blog is supposed to be about trading, right? So what the hell does a book on 50s American design have to do with trading?
To be honest, basically nothing. But reading these books can still benefit my trading.
(Psst … check this out. We started a book club on the SteadyTrade podcast! Join us in the fun — here’s the full lineup…)
I think that by expanding your mind, looking for inspiration everywhere, and keeping your mind and body sharp can help positivity and creativity flow into your trading. And that’s not a bad thing in my mind.
Maybe it’s a little woo woo, but it works for me!
Bohen’s Conclusion
That’s it for this one, gang!
Make sure you don’t get lazy over the holidays and as winter really hits. Exercise and sunlight can absolute wonders for your overall happiness, health, and not to mention, trading ability.
Staying in the right mindset can allow you to spot setups like the one in CLVS! I called that stock, but even I was surprised at how much the price moved…
Take some time to study patterns like the supernova that could truly benefit you if you are able to recognize it when it happens.
If you’d like to see how the team and I look for these kinds of setups each trading day, then come and join the community in StocksToTrade Pro!
I know that some traders take it easy over the holidays, but I tend to find great setups. How do you handle trading around the holidays? Tell me below!