 So the pot stocks went nuts. So the NASDAQ names went up. I mean, what was the last time you saw the NASDAQ Composite Gold 9%, just absolutely insane. Welcome to Access to Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process and own your future. Hey guys, good evening everybody. Welcome to another edition of TheAxisToTrader.com. Weekend update show, hope everybody is doing okay. So the people have spoken. We officially, well not officially, but unofficially officially. We officially unofficially have a new president elect. I believe Biden last time I checked had like 290 electoral votes making him the 46th president elect of the United States of America. Now, before we go started, I understand how much of a charged issue this is, okay. I'm a personal, I'm a registered Republican. I vote Republican down the line pretty much on everything. My bottom line is always, my bottom line is always taxes. So for me, I've never really been a big fan of politics. I personally think politicians are just not the way I wanna spend my time. But I do understand how passionate so many people are, whether you love Trump, whether you hated Trump. I get it, right? I get it. And it's great to be passionate in things in life. And it's great to stand behind something that you believe in. Unfortunately, the one thing in life we don't have control over is the macro picture, whether it's the stock market, whether it's life in general, or obviously there's 300 million people in the United States having the ability to want or need our favorite candidate. So I get all that stuff. But now that we are here and we know exactly who's gonna be running the country for the next four years, you can go about it two ways, okay. You can spend the next four years crying and moaning and complaining and bitching about voter fraud and this, that, the other thing, right? That's an option. It's a very, very unproductive option. It's a very, very aggressive and sad way to live your life. Your second option is, okay, realize what's in front of you. Okay, if you've voted for Biden, you got what you wanted. You know, again, I vote Republican. So I didn't get what I wanted, but I kinda didn't lose what I wanted anyway. If you look at why the market rallied, the market really embraced the idea of Biden being president. However, the market also embraced that the fact that the Senate was going to be still controlled of to the Republicans. And what that means, his very, very aggressive tax hike that he was looking to do is probably not gonna be in the cards. And I think the market absorbed that. I think a lot of people that vote Republican absorb that and kind of felt at peace with that. But at the end of the day, you can spend your four years moaning and complaining or making sure you're adjusting to life no matter what your life is and making your life better for yourself and your family. That's it. Those are the only two choices. The idea of going on social media for the next four years and still complaining about Biden or even still complaining about Obama or anybody else is kind of non-productive. And all you're going to do, you're going to agitate yourself, you're gonna make yourself feel bad. You're going to create underlining medical problems. And unfortunately, you're gonna live a very sad existence. So it's incredibly important to move forward. It's like, again, if you have a bad trade and you know you had a bad trade, it's very incredibly important as a professional trader or even aspiring professional trader, have a very short memory and move on. Same thing with leadership, same thing of a bad marriage, whatever the case may be, you have to move forward with your life. I think the most important part of all of us, whether you're a Republican, whether you're a Democrat, we are all Americans. At the end of the day, we all play on the same team. Again, you might not like every single person you come across. You might not have the same beliefs as everybody you come across. But again, isn't it our job to teach our children the next generation that you don't need to like everybody. Everybody's a need to like you. But we could coexist, okay? We could still have the same goals in life. Happiness, right? The most basic elements of being on earth, being happy, taking care of your family, smiling more, right? Again, being depressed all the time and unhappy all the time. It's a very sad existence. So going into the remainder of your weekend or into next week, again, try to put your differences aside with some people, okay? Try to, nobody says you have to love your neighbor, but at least respect your neighbor enough to carry on with life, right? And that's the only thing we could ask for. What's done is done. There's nothing you can do about it. And the most important part is, again, what are you going to do next? What I'm going to do next is, well, we're going to order some pizza tonight. Nothing to do with Biden or Trump, which is tonight's pizza night. I enjoy pizza, my life is going on. I've taken care of my chart work. I'm prepared for Monday's session. Life is going on, okay? And slowly but surely when the hoopla dies and the noise completely dies out and there is hopefully a smooth transition in the White House, hopefully everybody will benefit from the new administration. I know a lot of you guys are very angry right now and all charged up and I get it, I get it. But again, you have to look at the big picture. Life is all about having curve balls thrown at you. The key is adapt, adapt to your life, adapt to your conditions and it's up to you. Again, if you're sitting around right now and you believe that the government is going to make your life better, come the new administration, it's just you're wrong. You're wrong and you're gonna have a very sad reality. So let's talk about the market. 9% move in the Nasdaq, right? 9%, that's insane, completely insane and every single day just when you think the market can't go up again, it goes up again and not only can it go up again, the speculation money that has been so obvious in this tape on these EV stocks, on these pot stocks, again, pot stocks of all things. You know, pot stocks have been the absolute worst vehicle, trading vehicle, maybe even worse than the banks for God's sake, for the last five years. Every single time one of these pot stocks have a good day, the next day goes lower. It's just been kind of like that for the last three, four years and finally they got their kind of check mark. All these, so many states including my state of New Jersey, legalized recreational use. Portland, Oregon, okay, will be the major destination. If you're an NBA fan, the Portland Trailblazers will probably have a huge demand of free agency because this is the first state in the union that's completely decriminalizing all illegal drugs. You can do crack, you can do coke, you can do heroin, methamphetamine, the world is your oyster, baby, all jokes aside, but that's exactly what's happening. So the pot stocks went nuts. So the Nasdaq names went up. I mean, what was the last time you saw the Nasdaq composite go up 9%, it was absolutely insane. The Dow went up about 7% and S&P went up about 6.5%, 7% as well. So amazing, amazing rally. And now that we have a little bit of closure of who's going to be our next leader for the next four years, now we have to figure out what's gonna happen next with the stock market. And again, as I'm doing charts this weekend, all I keep on saying myself, how can we keep on going by stocks? Like how can we buy stocks with absolute confirmation and absolute faith that there won't be a rug pull in every single day, no matter what you see in front of you, things are really taken higher. And the one thing I started thinking about this weekend, when it comes to earnings, and this is something maybe a lot of you guys have thought about as well, if you guys remember last week, right, we had one of the worst sell-offs since March, since the March lows, and stocks like Amazon and Facebook and Apple and Netflix, they were all getting killed on earnings. And the most ironic part, when we started earning seasons this week, when you had names like Roku, Square. And Roku and Square had really, really big moves. Roku had a monster candle into earnings, Square had a monster candle into earnings. And the question I started thinking about, maybe out loud, so maybe again, maybe some of you guys thought about the same way. Are earnings, and again, there's no right or wrong answer to this, this is something I'm kind of just thinking out loud. Are earnings now, or maybe they have been, I'm paying attention, but have earnings really now become a byproduct of how good or how bad the market is? With Amazon, in other words, if Amazon reported this past week, with the stock go up 300 points instead of going down 300 points the previous week, or even 500 points the previous week, right? With Square, if Square reported earnings instead of Friday, with they were reported earnings last week, with the stock would have been down 15, 20%, so it's something to kind of pay attention to. I kind of want to get an idea, maybe somebody could back test that, but I want to kind of start thinking about this more and try to maybe pay attention more up and coming quarters if the market's really, really good, how these stocks are being perceived and obviously the opposite way. So right now, again, Monday, but again, you have to, if you are a common sense trader, you have to say to yourself, look, we had a 9% move in the market, can we continue having this much juice? And again, the common sense in me says, look, you got to be careful. I don't want to buy the stocks that had a nine day run. I've been saying this every single day, but yet I'm still buying stocks the next session, but we definitely have to be careful. I think everybody could agree on that. Again, if you look at the names that had big runs, I really don't want to pay attention to them. Names like AMD, and again, we touched about the semiconductors in the last couple of days, AMD's setting up really well, on semiconductors setting up very, very well. And if you look at the previous names that we had on our watch list of some pivots throughout the week, you could see how strong some of these semiconductor moves were, Xilinx had a huge run, ADI that we had a pretty nice pivot here at 26.5, 27, went to 34, looking microchip as well. So I think the names like stocks that have gone, they're gone, okay? We want to more pay attention, like I said, on the AMD, nice option flow coming in, because again, still attempting to come out of a range on semiconductors as well, even a name like Intel, right? That again, had two really ugly quarters. Again, can this thing reclaim 46, 50, 47 and make a move? Very possible. It's not something like Intel wouldn't be a name that I'm watching, but again, you want to kind of almost pay attention to the trailing stocks. And not like NVIDIA is a trailing for anybody, but at least you can see how close NVIDIA is about to come out of a really, really long range that started on September the 2nd. So these are the kind of charts I definitely want to watch. Tesla from last week, I'm still watching for that macro break. Again, if you look at the 60 minute view, I liked it Thursday and the Friday, it just kind of rested down eight points, really not a big deal. But I'm still watching this whole macro channel to fall. I still like Netflix. I was watching Netflix and Tesla, both of them rested. I still like this whole macro channel to fall. So are there names to play on the long side without having a fear of a big aggressive pull? Absolutely. Again, if you go through just the members of the NASDAQ 100, okay? You don't even need to go through a big, big macro charting session. But if you go through names of NASDAQ 100, you'll see how many good quality setups there still are. Even Zoom, right? Even Zoom woke up. It just needs one more close, literally one more close over the supply and you've got 40, 50 points to the upside. So there's definitely value to the upside going into this week. Again, I think we have to stay away from the overextended moves. I think names like a square and a Roku are good value plays, especially with any dip open into rising 60-minute support. So for example, if you look at square into rising 60-minute support, this is the rising 60-minute support. If you guys notice, every single time, you can just go through any area. Bounce, bounce, bounce, bounce, bounce, right? Bounce. So we're looking for any open, any open in this rising support. This 191 area is obviously gonna move up on Monday. Obviously, we'll talk about all the bounce areas that morning, strategy, also Roku, again, any value. And again, you can see this with your eyes, guys. That's why I've been kind of reiterating the point, especially on social media. You don't need to buy breakouts, a short breakout. So you could also buy strong names in high probability areas of the rising 60-minute view. I've been constantly talking about that. So if you look at the rise in watch here, it bounced, it bounced, it bounced. So I'd like to somewhere around here, and again, this area will rise come Monday, but this is the value play for a possible move to red to green on both of these names for another run for Monday. But the one question that everybody keeps on asking, well, what's gonna happen with Biden as the president? And I've traded through Bill Clinton, Democrat, internet craze, phenomenal market. I've traded through George Bush. George Bush, again, got really the short end of the stick. He was president during 9-11, the two wars, which obviously won, he started, but whatever. I'm a Republican, remember, don't yell at me, right? George Bush with 9-11, horrific, the two wars. And oh, by the way, the financial crisis, the absolute worst thing. So this guy really had a really tough presidency, which obviously saw a very aggressive move in indexes and stock prices going lower. And then came Obama, had a really aggressive rally during his administration as well. And Trump, the four years have been really, really good. So again, I wouldn't put too much emphasis on what the market is going to do because there's a Democrat in office. We've seen now, again, in my lifetime, two Democrats with really great markets. One, a Republican who had really good market, which is Trump and Bush, again, you could say, obviously, so many different instances happened because of the war and stuff like that in 9-11 that he had a really horrific presidency. But again, I think it's all about your individual process. I think it's your approach is much more important than who's gonna be in office. Sure, they're gonna be groups. They're gonna benefit from Biden, right? The pots, some pots, the alternative energy names, right? Yeah, I get that part, I get that part as well. But again, overall, you should be more concerned of your approach, your ability to kind of trade responsibly as an adult. I think that's the name of the game. And the most important part is, again, slow and steady runs the race one day at a time, one trade at a time. Remember, our opinions don't mean anything. It's all about price action. So let's talk about Friday's session. Again, pretty aggressive stuff. Guys, for all you guys who are joining us either on the Twitter feed, which you see here, or in the live webinar this weekend, please watch the PS60 Workshop 2.0, and at least 2.0, I'm not saying watch the 2.0 and the 3.0. It's over 10 hours of breaking down the theory. But it's so important before you come into the live webinar you have to understand why the dynamics, why the moving parts are so important in these pivots. Again, nobody trades these pivots except for us. Nobody. So this is one thing that it's a very, very unique system, very, very specific. And you have to be patient. You have to understand the moving parts. And again, I've been saying this for many, many years. I could feed you pivots till you're blue in the face, but if you don't understand the moving parts and why things are happening are more important, why things are not happening, you really are cheating your progression as a trader. So please, before you join us, please watch these workshops. So let's talk about Friday's session. Netflix didn't trigger, Tesla didn't trigger. These were my two top watches for the day, obviously they didn't trigger it. So again, like I say, life goes on. Square absolutely exploded into earnings. 185 rejected bunch of times pre-market. People ask me all the time in these pivots do pre-market and after hours, data matters. Absolutely, the more data you have, the merrier. 185 rejected bunch of times, needs to build. Here was Square. And this is where I say 185. If you look at this whole area here, 185 got rejected, 185 got rejected, 185 finally just exploded when out of its mind. Traded over 200, big, big move there. Roku 240 needs to confirm. Again, 240 wasn't like this secret magic, you know, sneaky pivot. It was 52 week high, that's all it was. 240 needs to confirm for it to go. Roku just went out of its mind, right? So here was the 240, right? Took out the 240 and stock traded all the way to the 255 area, huge move there. mRNA, 71, 80, 72 needs to build. Here was mRNA, right? So here was mRNA, took out this whole daily channel, traded up to 74 before coming in. So big move there as well. AMD, nice looking trade. I don't even think that the trade on AMD has even really even started, but 85 rejected three times, needs to reclaim. So right, so here was AMD, right? Here was AMD, it took out this whole 85 area. And now the next area of interest could be this 89 area to test. So keep an eye on AMD for definitely for this week as well. For all you guys who were long PLTR off that 1170, you just saw a monster call buying coming on this thing. They were coming for the 16 calls. Again, congrats for all you guys who are still swinging this thing. PLTR from the 1170 area went to $15, just this six sick move there as well. Roku, Tesla, obviously never got to that area as well. And I believe that is it. So again, crazy market, crazy run, and now it's over, right? Just like Trump's administration is over, we have to look for the future whether again you're on board with it or not. Again, you have to make the best of it. This last week, what you caught these trades, what you didn't catch these trades, it's over. It's time to move on. Guys, God bless. I wish nothing but health and happiness for everybody. If we can all get along, life would just be so much better if everybody can just crack a smile from time to time. Guys, God bless and I will see you all next week.