Qullamaggie: Stream 41 - 45 Review [Jan 2020] - Protect Them Profits!
A Review of Kristjan Kullamägi's Livestreams (Stream 41 to 45)
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.
For reference, the chart below shows the overall market (SPY 0.00%↑) KK was trading in, at the time of the streams (Jan 2, 2020 to Jan 9, 2020):
Stream #41: “New yeart starts with lots of opportunities already! Jan 2, 2020”
Technical Analysis:
Referring to STNE 0.00%↑:
This is technical analysis, it works what can I say, technical analysis works. Combining technical analysis with fundamental analysis is the winning recipe in my opinion.
Market Sentiment:
Like two months ago I had 5-6 positions and I’ve been slowly building, now I have a bunch of long/shorts (32 positions now), that’s always what happens when the market goes on a run like this, it could be a sign of an immediate pullback, because my positions always peak before a pullback, around the 30 number, always been magical in that way for the past couple of years.
Stream #42: “SAVA 0.00%↑ long up 50% in a few hours! Jan 6, 2020”
Thinly Traded Stocks
Referring to DT 0.00%↑:
DT is trying to breakout, ultra thin name, I got filled less than half and it shot up a dollar instantly when I tried to buy it, this is why you should never use market orders for these thin stocks. It’s building higher lows (HLs) for a month, has this range break, has the earnings power, is a recent IPO, and looks great. This is what a strong stock looks like, you’re not gonna get filled all the size you want at the price you want, this candle just amazing.
Stream #43: “SAVA 0.00%↑ what a beast long and a beast short! Jan 7, 2020”
Swing Trading Wisdom:
In a strong market, you can miss so many things and still make a lot of money, so many things move I can’t even trade half the things I want to trade, but that’s how strong markets are, you can’t be in everything.
Breakout Setups:
You never want the breakout to pullback to support or into range, so if it pulls back I wouldn’t even want to own it anymore.
Breakout Setup on JCP 0.00%↑:
JCP has been flagging the past 3-4months. I just bought 75k shares. The stop is so tight, I’ll add more shares if volume starts coming in. I’m risking 5¢ to potentially make a dollar, there’s no risk in it! I’ll make this trade every day of the week!
Scanners:
I scan for the strongest stocks in different time frames, all my scans look the same, I’m pretty much only scanning for momentum.
Stream #44: “What is the price action telling us despite recent news? Jan 8, 2020”
Swing Trading Wisdom:
That’s what happens when preparation meets opportunity, I’ve been prepared with my setups, and I’ve been practicing my methodology for almost the past 8-9 years then the luck is we got a good market.
Strong Markets:
In strong markets you can’t have any opinions, just have to trade price action, and forget about politics and geopolitics and everything, none of those things are going to make you money. The only thing that’s going to make you money is price action.
When Markets Show Weakness:
SPY 0.00%↑ looks like they want to go higher, maybe we’re gonna speed up like early 2018, maybe we’re gonna do something similar idk, or we go sideways, but if we start violating this rising 20-day I’m gonna sell down aggressively, lock in profits, close a bunch of positions, and raise stops, bc right now I’m pretty heavily long and you have to protect profits. In times like these it’s very easy to become irresponsible and start doing some sloppy things, dangerous things, this is really the time to be cautious.
For a refresher, “violation of the rising 20-day” means that when the 20-day SMA crosses and is above the 10-day SMA, this would be considered a “violation” and usually signals to KK that there could be a pullback, sideways move, or downtrend in the general market.
Software:
Uses Koyfin for security snapshots to get EPS and Revenue estimates for future years
Stream #45: “Resilient markets. Jan 9, 2020”
Market Sentiment:
These types of market environments are my favorite, when the markets just grinding higher with very little volatility, it only happens maybe 10-15% of the time but when it happens it’s pretty damn good because you can be heavily long in a lot of positions.
As always, hope you all enjoyed and learned something!
-F4VS
Index:
Stream 41 - 45 [Jan 2019] - Notes