Open House — a morning on the desk
The desk opened half an hour early so Adriano could screen-share the Morning Wire process end to end: how the levels get built, what makes one invalid, and why the order goes at 224.85 rather than 225. Then the desk traded the open together, and two graduates of the Savages programme talked about what actually changed for them.
Nothing removed. The recap above is the same morning, edited down.
The morning in figures
Net points are per share. Apply your own size to get your own number: at 1,000 shares, 3.06 points is $3,060.00. At 100 shares it is $306.00. At one share it is $3.06. The desk publishes the move, not a dollar result, because the dollars depend entirely on how you size, and that is your decision rather than ours.
One of the thirteen was the Morning Wire's own published level, and it stopped out.
Every trade called that morning
Losers included. Rows with more than one leg were scaled out; open any row to see each exit.
What the morning covered
- 01
A level is built from what already happened
Walk the previous one or two sessions. Mark where the highs, the lows and the consolidation sat. Put the levels there, then sanity-check the distance against ATR — and adjust when earnings have skewed the ATR, which they had on Apple that week.
- 02
Never put the order on the round number
Adriano liked 225 on Nvidia and refused to use it. "It may hit 225, stop some people, then we get a smash down." The order went in at 224.85, fifteen cents underneath, to be filled by the sweep rather than caught in it.
- 03
A level has an expiry
The levels are built for the open. If price reaches one between 9:15 and 9:30, he treats it as dead and will not take it. The Morning Wire itself says "valid for the first 10 to 15 minutes", and he meant it literally.
- 04
The 50 does not count for much at the open
Liquidity coming in at the bell runs straight through it, so he targets just below rather than at it. After the first five or ten minutes it starts to matter again.
- 05
Say the stop out loud, before the entry
Kerly called Intel at 99.46 and named her stop, under 99, before she was in. Four minutes later she took it at 98.98 and moved to the next thing without an explanation. Entry is only half the battle.
Sit in on the next open house
Once a month we open the desk to everyone. Watching a recording and being in the room are different things: you can ask a question before the bell and get an answer. Free, and no card.
One email when the next date is set. Nothing else, and you can reply to stop it.