Qullamaggie: Stream 66 - 70 Review [Feb 2020] - Push Yourself, It's The Only Way
A Review of Kristjan Kullamägi's Livestreams (Stream 66 to 70)
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/$s_!LR39!,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 (Feb 13, 2020 to Feb 20, 2020):
Stream #66: Tesla is flagging, can it go to $2000? Feb 13, 2020
Breakout Setups:
I like this FCEL 0.00%↑ how it’s holding above the 20-day after breaking this midlevel base. Very bullish on this sector, just waiting for them to go sideways a bit more so I can add.
$FCEL -Daily/Hourly Chart
Market Sentiment:
Ever since I joined Fintwit, all of these bears, they always talk about what can go wrong, nobody ever talks about what can go right. It’s so f*cking stupid. Yes, there will be bear markets along the way, and yes there will be corrections. Shortly after I started, the Nasdaq corrected 20% in a few weeks. We had corrections in 2015, 2016, 2017, 2018. Yes, there will eventually be a bear market, but what good is it to call a bear market if you’re wrong for 5/10 years? It’s just so stupid. The only thing one really needs to do is just follow the price.
I can’t believe how many people I’ve unfollowed bc of all the bearishness
Increasing Position Size as a Trader:
Referring to his TSLA 0.00%↑ trade: I’ve never traded this kind of size before, $3-4M positions. But it was a good experience because that’s how you take your trading to a new level. You have to force yourself to push size, you have to get comfortable with big PnL swings, otherwise, you know I see a lot of successful traders on Twitter, and they just cannot push their size. They trade the same size they were trading 5-7 years ago. And it’s amazing, they’re so deep into their comfort zone. They’re still trading for those 500-700 bucks per day, and they just can’t get out of it. Personally, I just want to push my size to infinity. Every year I want to increase my size, every year I want to get better, and bigger. I’ve done it for many years now. That’s the only way! You have to push yourself.”
Having Moveable Ideas:
KQ explains, how he was shorting $TSLA but due to the intraday chart, switching to a long bias is a possibility now and closing the short position: If $TSLA closes strong today I will stop shorting because I’m getting tired of it, it’s not playing out like I thought it would not rn anyway, and now it has developed some nice ranges on the 60min, if it goes green I’ll just cover it all and start waiting for these ranges on the 60min. I covered up most of my shares, just incredible how strong this thing is. And if it closes like this, I’ll not hold any overnight, I’ll close my swing completely. Because now this is the information I need, the fact it bounced off this 65ema again and went back into range, I’m not stupid, I can see what this stock is trying to tell me. Heck, I might even switch to a long bias if it goes sideways for a few more days then breaks out above this level.
You have to also remember, this stream is now approaching the COVID2020 pullback and crash. The crash started on ~Feb 20th, 2020. A few more streams and we will see how KQ handles it.
Stream #67: So many good earnings reports! Feb 14, 2020
Market Overextension:
This is the problem with the market having such a big run over the past 3 months. This is the exact opposite of what happened last earnings season, a lot of stocks were just coming out of their long, long bases. And now, things are getting sold off these earnings reports, because they had big runs.
Favorite Types of Stocks:
Referring to ROKU 0.00%↑: Good earnings nice beat, been building HLs for a year and now been going sideways for about 6 months.
Those are my favorite types of stocks, liquid high priced, with big growth, you can risk $1-2 to make $50-100! Just great. Enormous volume coming in right out of the gate, but unfortunately stopped out of PM starter. I will get back in if it takes out ORHs. $ROKU stopped me out again; let’s see if it can have any juice now. I will add if it takes out 5min ORHs. $ROKU stopped out of a starter twice, which sucks.
Even after multiple failed trades, KK doesn’t care. He doesn’t care he has been stopped out 2 times because as long as he gets a good execution, that big win will cover all of his small starter positions.
$ROKU - Daily/5Minute Chart
Entry / Exits for Breakouts:
Referring to DXCM 0.00%↑: When a stock comes out of such a base with a long long great looking base and great earnings, I really try to hold it, try to use the weekly MAs, like now my stops are the 10/20 weekly.
$DXCM - Daily/Hourly Chart It depends on the situation, when they come out of solid bases, you want to give them more room, rather than something that’s already extended.
Stock Behaviour:
Referring to VEEV 0.00%↑: For slow-moving stocks, you don’t want to get trapped in it, if it’s going to move lower, I just want to get stopped out so I can move on.
It all depends on the situation. For smaller cap stocks, I’m obviously using the daily, because these are not institutional quality stocks. They either go up like 50/100% really quickly or not. Small caps and large caps don’t trade the same way.
Stream #68: Great earnints reports and a short candidate. Feb 18, 2020
Market Overextension:
It’s bad this earnings season, but that’s what happens when markets are extended.
Swing Trading Wisdom:
During the day, I may do this, I may do that, but I’m mostly around. I check in every 30 mins, or 60 mins at least. I also have lots of alerts and stops set, so I don’t have to micro-manage everything. In this kind of market, I’m not a day trader or scalper, I give my stocks plenty of room. Some of these names I’ve been in for months and months, I give them a lot of room. No point in watching every tick.
Stream #69: Tesla going to $1500? Feb 19, 2020
***COVID-19 RECESSION STARTS IN 1 DAY FROM THIS STREAM! Also, take a look at the “Market Sentiment” section. Kind of hilarious that he timed it to almost the day.***
Breakout Setups:
I am stalking this NIO 0.00%↑, hopefully it doesn’t go today, I would like to see a breakout tomorrow. This thing could easily run up 50%, it’s building a very powerful flag pattern here. Went up 365%, then it pulled back 37%, and now it’s been going sideways for the past month and a half, with higher lows, getting really tight here.
$NIO - Daily/Hourly Chart
Trading Price Action
I’m just so happy I trade price action and not fundamentals. Short float is irrelevant, doesn’t matter, it’s an old number anyway. It already had its squeeze, yes it can squeeze higher, but that number is from a few weeks back. All of this, doesn’t really matter, these things are only known in hindsight. But making money in the stock market is anticipating moves before they happen. There are always all these narratives that come out later, oh it was the Chinese, it was the Saudis, it was Jim Simons, people always want explanations for things, but sometimes there’s no explanation. There were more buyers than sellers, that’s it.
I thought the chart was extended too, but apparently it wasn’t. Sometimes the big moves come after the big moves. That’s how it works, but you never know which ones it’s going to be. That’s the hard part.
There are pretty much two kinds of markets. One is the market we are in right now. Where you always underestimate how far to the upside stocks can go. The other type of market is where you always underestimate how low they can go. The art of trading is trying to figure those things out, ahead of time. That’s really difficult.
Holding is so hard. Just holding a stock and trailing your stop, it’s so hard.
Market Sentiment:
This market is unbelievable right now, feels too good to be true. I think if we keep going straight up, we’ll get some epic short opps next week. Right now, we are in the type of market where narrative and story trumps fundamentals.
Mental Attitude:
What can I say, I’m an optimist. Doesn’t pay to be a pessimist. Actually I’m an optimist on both sides. When I was short $TSLA I thought it would go to $550. I’m an optimist on all of my trades, doesn’t matter if it’s a long or a short.
Stream #70: $SPCE going to space? Feb 20, 2020
***COVID19 RECESSION - Incoming***
Timeframes:
Referring to SPCE 0.00%↑: I usually don’t trade off the 1min chart, except the first few minutes, but this is an extreme momo stock with insane vol.
-F4VS
Index:
Stream 66 - 70 [Feb2020] - Notes
I am unable to find 71-75