All posts by Sami Abusaad
How Bearish is the Market This Week?
QQQ recently had a double bottom in the hourly chart, and another drop could signal more selling to come. Find out where Sami thinks the market is heading this week. In this video, Sami explains: – How to recognize a squeeze play in APM – Why he regrets not playing AR – Where a transition A breakout occurs in AMB – Which two SPAC stocks are breakout ideas – What he likes about NXE
Continue Reading -->How Will Lockdowns Affect the Market?
The market is looking bullish, despite reports of lockdowns in major U.S. cities. Find out how Sami expects the news to affect markets over the coming weeks. In this video, Sami explains: – Why APM looks good as a breakout – Where a daily buy setup is occurring in BLU – What CATB needs to take out – Why the SELB monthly chart looks better than the daily chart – Where retail stocks might be heading
Continue Reading -->Corsair (CRSR): How We Made 56% on the World’s #1 Gaming Stock
Forget the Sony (SNE) Playstation 5 and Microsoft (MSFT) Xbox Series X — the Corsair (CRSR) explosion is the #1 story in gaming — at least for traders.In fact, Corsair just became Strategic Swing Trader’s #2 Play in November with a 56% gain in 7 days.**We nailed a 59% gain in CYH, but it’s not as fun a story! Corsair came on my radar on November 10 when a subscriber asked me what I thought of the stock. I was not crazy about the chart, but I kept an eye on it.On November 12, Corsair put in a narrow range bar, which made me think it could be on the verge of a Daily Breakout.So on Monday, November 17, Corsair went in the Strategic Swing Trader newsletter as a Long Trade with the following parameters:Entry: $29.51 (just over Friday’s high)Stop: $27.49Target: TBDStrategy: Daily BreakoutCorsair hit the $29.51 entry price before 10 a.m. that Monday, so we were triggered long.And immediately, it powered up big time. Let’s talk about why.Corsair has a very sexy story as a pure play on the booming PC gaming and streaming market. Corsair a well-known gaming brand, but very few traders even knew it was publicly traded. The September IPO didn’t get much attention, but that was a positive — the chart got us in before the stock was on Wall Street’s radar.Also important to note: Corsair has a tiny float of 17.7 million shares, so even a small amount of buying could blast it into orbit. I would guess the Robinhooders of the world were bidding the stock up like mad.After the initial pop, we had two surprise news events — which is not uncommon when you nail the chart setup.On Tuesday, November 17, Corsair CEO Andy Paul appeared on Jim Cramer’s Mad Money on CNBC. Corsair was already acting like a classic momentum fad stock, and Jim Cramer gave it a much bigger spotlight.The stock just kept running and running higher. And then on Sunday, November 22, The Motley Fool came out bullish on Corsair, saying “the best is yet to come.”Corsair rallied hard again on Monday after the Motley Fool story hit, reaching a fresh high of $43.89!We took profit on the first half at $44.60 for a 51% profit.Then, we exited the second half Wednesday at $47.60 for a 61% gain. 51% and 61% averages out to 56%Now, why did we get out? Simple — the stock was going climactic. The daily bars were growing so big that I was afraid of a flat out crash once momentum slowed. I did not want to risk giving back a 50%+ gain.And over the next 2 days, Corsair did in fact crash 25% off the highs in 2 days, as you can see in this chart:Let’s recap the 3 lessons you can learn from our #2 trade in November: 1) Do Not Trust a Hot Story Without a Technical Confirmation Corsair’s story was picture perfect — a hot PC gaming and streaming brand that 99% of traders never heard of. But the chart needed to set up before we bought. 2) When You Nail the Setup, the News Tends to Go Your WayNo one could have predicted we’d get assists from Jim Cramer and the Motley Fool. But when you get the setup right, the news tends to go your way. 3) Sometimes You Can’t Put a Hard Target on a StockIt would have been hard to predict Corsair going from $29.51 to $45.69 in a week, but it was a hot story stock that’s exploding on social media. Names like this can run faster than you think.Finally, I’ll issue 2 words of warning:If you are day trading Corsair, be very careful because even up here at $44+, it has a pretty wide spread and you can get chopped up easily.Thanksgiving week is always a tricky time for the market, and with low overall volumes, stocks like CRSR can really take you for a ride (up or down).Take care! And if you want my next big swing idea, give Strategic Swing Trader a try! Click Here to Learn About SST Or you can check out our Black Friday deals.
Continue Reading -->Where the Market Will Go After a Sideways Week
Usually it’s not good when the market bases because stocks don’t move very much. But last week, that’s exactly what Sami wanted to happen. Now that the market has been going sideways, what can you expect in the days going forward? In this video, Sami explains: – The points where he will turn either bullish or bearish – When he expects APVO to pop – Where to find a 1 2 3 pattern setup in BILI – Why he likes BKEP as a long term play – Which pattern BLU is setting up for
Continue Reading -->When Will the Market Move Upward?
QQQ has been bullish recently, basing above the 20 ma, but Sami doesn’t think it’s ready to go just yet. Find out what his ideal scenario for the market is this week. In this video, Sami explains: – Where his second target will be for ASMB – Which pattern can be found in GSKY – Why he doesn’t plan to take STSA on Monday – Where an entry bar might occur in UPWK – Which pattern was triggered in GLOP
Continue Reading -->How the Market Will Move Post-Election
The election last week led to a major bullish gap in the market, but the results were unclear for a few days afterward. How did the market respond, and what can you expect after the winner was declared? In this video, Sami explains: – What the market’s response to the election reveals – How you should analyze market trends without watching headlines – Why a sideways market this week would be ideal – What is impressive about GLD – Why ACRS should work as a long-term trade
Continue Reading -->When Will the Market Rally?
The markets are showing bearishness across the board. Sami thinks that the market could have a short-term rally over the next few days, but it could be months before there’s a sustainable rally. In this video, Sami explains: – What to expect from the election – The problem with CGC – Why he’s not playing CYH as a swing – Where to set a target for KSS – Why a gap is bad for CWH
Continue Reading -->Trading the Pre-Election Market
Over the past few weeks, the market has been bearish up to a double top, but the selloff from that top hasn’t been very bearish. Find out where Sami thinks the market is heading over the next few weeks. In this video, Sami explains: – Why CROX and LB look similar – Where to find daily buy setups in CONE and FSKR – How to identify a Transition A in TRXC – Where to set a target for XTNT – Which stocks to watch for setups on Monday
Continue Reading -->When Will the Market Turn Bullish?
The market has continued downtrending on the daily chart and Sami remains bearish. But there are two points that it could hit this week that would determine if the downtrend will end or if there are lower prices to come. In this video, Sami explains: – Which setup was triggered in GLD – Why he likes EXEL as a long term trade – What a 1 2 3 setup means for OMI – Why TXG looks so bullish – Which downtrending stock might be going bankrupt
Continue Reading -->How Far Will the Market Fall?
QQQ has been bearish since it topped out, but the pattern isn’t very tight. Find out what will signal the monthly chart dropping to the 20 MA and where you can expect the market to go next. In this video, Sami explains: – How you can predict whether the market will gap up or down – Which upcoming events could sway the market direction – What data he relies on to determine where the market is going – Why he doesn’t think it’s a good idea to buy gold right now – What he likes best about small-cap stocks
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