Trader Mike's Notes

These notes are here primarily to show my process and how I use the scans to find setups. This is NOT an attempt to be a stock picking service! I want people to use the site's extensive functionality to find their own setups which match their trading plans, strategies & risk tolerances.
TSLA - Tesla Motors, Inc.

Tesla had its second bounce in 4 days off of the psychologically important 1,000 level. It's a bit oversold in the intermediate term, so it could certainly bounce a bit. I'm more concerned about if it can climb back above the 1,100 level. My guess is that it will make a lower high, roll over and try to fill that gap at 900. Time will tell & I have no position for now.

IWM - iShares Russell 2000 ETF
IWM

Small caps are trying to participate in the bullish fun the larger caps have been having. This had an Expansion Breakout yesterday and made a new 52-week (and all-time) high today. You can also see broadening participation (better breadth) in the % of stocks above their 50 day moving averages.

UPST - Upstart Holdings, Inc.

No bullish signals fired for this but it looks to me like it's ready for another run at $400. (Full disclosure: I own this in my IRA but I'm planning on putting in a buy order for it in my trading account)

TOST - Toast, Inc.

Another good looking Hot IPO Pullback. Depending on where the stop loss is placed this could give a 5-to-1 reward-to-risk ration if it can get back to the all-time high.

RELY - Remitly Global, Inc.

Looking like a textbook Hot IPO Pullback. Let's see if it triggers an entry.