LIVE TRADING: Trade the Close with Mike Teeto 6/9/2026

Why It Matters

Lifting the PDT restriction expands trading opportunities, but without disciplined watchlists and strict risk controls, the heightened activity can quickly erode profits; Teeto’s session demonstrates a repeatable framework to profit from volatility responsibly.

Key Takeaways

• PDT removal fuels higher trade frequency, but discipline remains essential.
• Identify first‑red‑day patterns like TCNF for overnight short opportunities.
• Set clear cut‑loss levels at support points to manage risk.
• Combine long setups on SPCE, ZV, and McDonald’s with option strategies.
• Update a five‑stock overnight watchlist daily before market close.

Summary

Mike Teeto’s live‑trading session centered on the newly lifted Pattern Day Trader (PDT) rule and its impact on day‑traders. He walked viewers through his “Power Hour” routine, emphasizing the creation of a five‑stock overnight watchlist that balances short and long ideas as the market wrestles with a rough QQQ and SPY day.

Key insights included spotting the “first‑red‑day” pattern on cannabis ticker TCNF (True Leaf) and using its recent drop from $13 to $12 as a short entry point, with a cut‑loss at the $12 resistance and a target below $11.50. He also highlighted GLASF, SPCE, ZV, and McDonald’s as additional candidates, noting specific support levels, breakout points, and option chain opportunities.

Teeto repeatedly warned, “You can’t overtrade; less is more,” and stressed three rules: avoid overtrading, cut losses without hesitation, and stick to a plan. He illustrated discipline by showing a fill at 1190 for TCNF and the importance of adjusting stops if the price gaps up.

The broader implication is that while the removal of PDT unlocks more trading capacity, success hinges on structured watchlists, clear entry/exit criteria, and disciplined risk management. Traders who adopt these practices can capture upside in volatile sectors like cannabis while protecting capital during market pullbacks.

Original Description

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