No Days Off - Qullamaggie: Stream 71 - 75 Review [Feb 2020]
A Review of Kristjan Kullamägi's Livestreams (Stream 71 to 75)
Over the months I have gone through every stream that Kristjan Kullamägi (@Qullamaggie), a prolific momentum swing trader, has ever posted. Below I have categorized my notes into topics relating to his streams. Comments made by me, on my thoughts on a particular note, are italicized. There is an index of all current streams that I have made notes on at the bottom of the post. If you want to start from the beginning of his streams see here:
![Kristjan Kullamägi (Qullamaggie): Stream 1 - Stream 5 [Oct 2019] - Notes](https://substackcdn.com/image/fetch/w_140,h_140,c_fill,f_webp,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd4ff1b0e-6ef7-465e-83f3-4725f47a34b0_598x720.jpeg)
For reference, the chart below shows the overall market (SPY 0.00%↑) KK was trading in, at the time of the streams (February 21, 2020 to February 28, 2020):
Stream #71: $SPCE coming back to earth soon? Feb 21, 2020
Swing Trading Wisdom:
I don’t want to get caught in a downturn with a lot of exposure to the upside. I’m selling down to my sleeping point.
It’s interesting to see which stocks hold up the best, that’s really what I’m interested in. Maybe this will just be a shallow pullback, like a week or so pullback and sideways, or maybe we get something more serious, like back in May last year. But the interesting thing is to see what stocks are holding.
Pulse on the Market:
The biggest lesson I’ve learned over the years: less news, less opinions, more price action. Pay attention to all these small details, just get a feel for the market, get a feel for the stocks, this is why I never really take a day off, I haven’t taken a day off since 2013. Doesn’t mean I have to trade every day, but I really think it’s important to be there, and just follow the action, it doesn’t mean I’m constantly looking at the screens, but I’ll check in every hour or so, so about 10 mins; look at my positions, my watchlist, my scans, because in trading it’s not like a regular job, your income isn’t constant, one week could make your whole year, and if you’re on vacation that week, well… I hope you enjoyed your vacation. I’ve tried to not look the markets, but I just can’t, I’m too obsessed, some people can, and you just have to find something that works for you. It doesn’t really matter how you do it, there are a million ways to make money in the markets, but this is what works for me.
Market Sentiment:
Man, a lot of stocks are just really coiled. It’s so easy to find the strong ones when the markets pull back, you can just see them, holding support levels.
Buying the Dip:
Buy the dip? I don’t buy dips. And I especially wouldn’t want to buy the dip if it tanked on earnings, that’s a big no-no. Buying the dip is not really my thing, I can’t figure out how to buy the dip, except in some certain scenarios, like when a big momo stock pulls back to a major support area like an MA or something.
General Wisdom:
I’m a simple guy. I set these red trend lines, and if it breaks the trendline, I buy, I set a stop, and if it breaks below, I sell. I really don’t know anything about anything.
Extreme Momentum Stocks:
Referring to TSLA 0.00%↑: I’m just following price action. It had this big move, had a top, pulled back, started grinding higher, and looked like it was going go higher again, but it kind of put in another spinning top, just like it did before. I’m just playing the risk-reward scenarios. Right now it looks like it’s flagging again. The news doesn’t really matter at this point on an extreme momo stock like this.
$TSLA - Daily / Hourly Chart
*Look at what is to come in the market. This is the start of the COVID-19 crash…
Stream #72: Coronavirus getinng HOT again and will the markets finally have a pullback? Feb 24, 2020
Market Sentiment:
Most positions obviously gapping down premarket, sold some, today is a fateful day depending how we close, I may sell a lot of long exposure, if we can’t put in a strong close today, on the indices and also my holdings, I will size down considerably.
Studying Traders:
I think you should study as many traders as possible, see their methods, do as much backtesting as possible, see if it’s an inherent part of the market structure. Take bits and pieces from everyone. Create your own method around it, then you can kinda dump all these people. I’ve been in like all of these trading rooms.
Software:
I don’t really use anything aside from Marketsmith and Koyfin, I don’t do deep research on stocks. I’m only really interested in how the earnings numbers look like, how the estimates look, and I usually have an idea of what they do, but it’s not like I deep dive into fundamentals and look at their balance sheets and do DCF and that. There’s no need to do that. I’m a momo trader, I want to be in the fastest moving stocks, there’s no need to complicate things, I don’t relly do any deep research. I read a lot of articles all the time, that I find on twitter and some blogs I follow, Seeking Alpha, etc. I use Briefing and FlyontheWall for news, then I use Finviz and Tradingview, Marketsmith and Koyfin.
Trading Communities:
No, I’m not in any trading communities, I used to be, I just find it distracting. I’ve kind of outgrown them, when you realize you’re one of the people making the most, there’s no point really in being part of a trading community, I kinda outgrew them. That’s why I’m creating my own, stream. It’s a goal of mine to grow this stream and get a bunch of good traders together, I’m just trying to give some good trading ideas and trade in real-time. I think it could help a lot of new traders, to see someone with experience trade real time (for free).
Quality over quantity. I’d rather have 50 quality viewers on my stream than 500 idiots if you know what I mean.
Stream #73: Now is the time to stalk for RELATIVE STRENGTH in the markets! Feb 25, 2020
Swing Trading Wisdom:
I’m just trying to follow price action, when the market is going higher I try to buy strong stocks, when it goes lower I keep the strongest ones and I sell the weakest ones. I keep the flowers and I pull out the weeds.
Market Sentiment:
I think we have entered into a choppy market, I don’t think breakouts will work the next few months, even if we don’t pull back more, I think we chop around. The ideal scenario is if we get a violent pullback to the rising 200 day, or even undercut it, get it over with quickly. It’s impossible to predict what the markets will do, but it’s good to have some potential scenarios in mind.
We are overdue for a correction, the past few weeks we’ve seen some historical overbought readings in the indices. I wouldn’t be surprised if we pulled back to this rising 200day, that would just be normal price action, corona or not.
I don’t know if I talked about it yesterday, but making a comparison to Ebola craze back in 2014. The market pulled back Sep/Oct, Nasdaq 10% in a month or so, bottomed 15th Oct, bounced, and went up.
$NASDAQ - Daily / Hourly Chart
Indicators:
No, I’m not using RSI or MACD, I don’t think there’s any value in those. MACD is based on MAs and RSI is based on price. I already have those on my charts. I don’t need an indicator to tell me something I already see. The less you use the better, price really is most important. I use MAs because they work really well on trending stocks. Everything else is noise. MAs are also based on price, but I think they give a nice visual representation. It’s hard for my mind to just visualize these moving averages in my head. And RSI, on the downside yeah it can be useful, but on the upside, the best stocks are overbought. It has no value when things go up.
Stream #74: Covid / Corona stocks going nuts! I’m long a bunch! Feb 26, 2020
The most important thing he has said in months: “Did my cat just flush the toilet wtf? Yeah, he flushed the toilet.”
Swing Trading Wisdom:
Why would I be afraid of holding a stock like APT 0.00%↑ overnight? What are you afraid of? You should never be afraid when you are trading ever, that means you are in too much size.
Market Sentiment:
In my experience, we usually have two legs lower, when the market starts correcting like this. Every time it’s pulled back this hard from the highs, there’s always been a retest.
*He was correct about this…
Expensive Stocks:
I never buy stocks because they’re cheap, some of the names I’ve owned over the years have been super expensive, but they still can go 100s of %, in fact, the best winning stocks are always expensive.
Leaders:
This is a great time to find the strongest stocks, when the Market is going down, the stocks that are not affected by it, because if you have a market pullback, and the market stops going down, guess what these stocks will do, these stocks will fly.
Following Great People:
The key is to get information curated. There’s so much info out there. A key is really having great Twitter follows, you need to follow great people who do research and share it. Because I can’t research thousands of stocks on my own. I spent years building my Twitter followings.
How Sectors Work:
This is how a sector trades, you have some stocks pulling back then the others are taking leadership, then those stocks pull back and the previous ones take leadership, etc.
Stream #75: EPIC 7-figure profit week! Feb 28, 2020
Market Sentiment:
Yeah, this is literally the kinda market you can buy any shit stock and it will go higher. It’s not gonna last long trust me on this one. It might last today, but next week I think it will die out.
Sector Rotation:
Primary names become secondary names, classic sector rotation, and now they’re starting to take some tertiary names higher.
I like to trade the primary names I don’t like to touch the tertiary ones. Those are more like day trading names. It’s not like they’re breaking out of nice bases.
Position Sizing:
Yeah, I’m making and losing 100-150k in mins and I don’t even give a sh*t, that’s how desensitized I’ve become. It all depends on the size of the account though, 100-200k doesn’t really move the needle in my account. It’s not about shares it’s about position size, but I would never risk more than 1% of my account on any trade. In most of my trades I risk like 0.2-0.5%, obviously I’ve been a bit heavier now in this crazy action.
-F4VS
Index:
Stream 71 - 75 [Feb2020] - Notes