 Welcome to Access a 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 the Access a Trader dot com nightly wrap up show. Hope everybody is doing well. Okay, hope everybody's doing well. Hope everybody had a good trading day. You know, let's kind of rewind from last night's video. We talked about this potential double top. Okay, if you guys remember going all the way back to last night's video. We talked about the area here that it got rejected office supply. We started talking about how most of the beta names were putting a bunch of lower highs, especially on the 60 minute channel and a lot of people. Again, if they didn't pay close attention, you know, we're really going to get caught. And I think if you look at the final scoreboard today, many won't get a really good feeling of why the market sold off. But again, if you believe in technical analysis and again, I think fundamental analysis is fantastic. I do if you are a value investor. Okay, if you are a trader and you're trading day to day week to week again, it's a completely different conversation. It's like it's like a thoroughbred asking a zebra. Where do you go shopping for your stripes? It's it's it's comparing apples to hand grenades. So the idea that traders have an opinion what a stock is going to do six months from now or investors have an opinion to a trader what the stock is going to do an hour from now is a completely different conversation. And again, for me, this especially in this whole Corona environment, again, as I as I talked about this thing, literally every single day, again, I'm just taking a day by day, man. There is no, you know, there is no macro thought process. I look at the charts every night. I look at the players in those charts, the components, especially again, I follow the tracking of the QQQ is very, very closely because, you know, pretty much 95% of all my trades are the same stocks. So I try to get an idea of what the markets telling us with the group as a whole is telling us and then I make my decision and I make make my research based on what I'm seeing the collection of data for the next day. And you know, we talked about on the video yesterday how I believe that again, you know, nobody was talking about the destruction of equities. We're just on my day by day, trying to get through this whole Corona mess together and trying to see what the macro universe is telling us the question is, are you hearing it right. So we gapped up this morning. Okay, we gapped up this morning and again, you saw MMM, right had a big big gap this morning and even Caterpillar was up and again, this was kind of my whole point for the last couple of weeks when I'm talking about the markets are continuously discounting. Okay, bad news. Again, if you look at the Caterpillar numbers, I think their income was down like 20%, something's down. Top line or bottom line, something's down 20%. I didn't really get into it. But the point is at some point, you know, the stock was surging. The stock was as high as 118 this morning. But again, it really does show you how the market is trying its darned to kind of discount. And when you look at what's happening this evening, right, you have kind of a tale of two cities, you have Google going up, you know, 40%, 4% then you have AMD going down 4%. Now, the question is for tomorrow's session, again, we'll get to the macro point of why I'm picking one side or another. You know, the question is for tomorrow, is AMD going to drag down the semiconductors or is Google going to kind of pull up everything from its bootstraps, like, you know, all the nets, the Facebooks of the world, anything to do with advertising, click customer acquisition, all that stuff, your Facebooks of the world, you know, your Amazons of the world, all that stuff. So that's the kind of question going forward. Since predominant representation of the QQQs are semiconductors and biotechs, I am leaning towards the downside. And there's a macro, and there's a macro base on that. Okay, we've been talking about the over under 213 level in nausea. This has been the ultimate line in the sand. The problem is, and you know, you're seeing a lot of people, especially from the swing trading aspect, starting to get very, very frustrated, because the bull and the bull and the bear side, they can't seem to get that really ironclad control of that line. And every single time we seize control of the 213, we get a one or two day rally, and then we fall down. Every time we go below that level, we get a one, two day decline, and then we go back up. And today, big, big reversal, market gapped up. We talked about the ability of the bulls reclaiming that 213 area, staying with it. It didn't do so. Everything got rejected off supply, and we got a pretty aggressive move down. And if you look at the Nasdaq composite compared to everything else, the Dow is basically flat. Down 30 points, S&P was down 15 points, basically flat. It's the Nasdaq composite that was down one and a half percent. And that's the most important part to me. Again, it doesn't make a difference what 30 stocks do for me for the Dow Jones Industrial Average. It's more important for the names that I trade, the healthy sentiment factor who has control. And again, if you look at the QQQs today, you know, pretty much a sell off into the close. Google is propping them up a little bit. But again, we will see tomorrow which side wins out. Does the semiconductors get pulled down because of AMD or does Google kind of prop everything up? And again, tomorrow is going to be very, very interesting. It's a pretty big day of earnings. You have Tesla coming out tomorrow. We'll see. We'll absolutely see. We have Tesla coming out in the next two days. We also have Facebook coming out. Thursday we got Amazon. We got Apple, right? So we got a lot of stuff. We got a lot of stuff going on. So we're not going to be able to tell the further sentiment until this week is kind of over at least the big names. Until kind of Friday, maybe even Monday or Tuesday earlier next week, we're not going to get a true sense of, well, is this market going to completely discount everything, completely go numb to Corona headlines and start really, really reclaiming levels and start moving back up to this 225 level on the QQs? Or are the bulls finally going to be right? This market can't rally forever. The market's still locked down. The economy still sucks. Everybody's still dying. We're still trapped in our homes. We're going to start retesting the lows. I don't want to get too dramatic. It was kind of for the effect of the video. Nobody cares. More important, guys, again, every single day is its own momentum. Like I've been saying for years, every single day is a completely different animal. Yesterday, one of more aggressive sessions that we saw in an incredibly long time. We had ridiculous, just ridiculous pivots yesterday. And today was a little bit more quieter, but I do always try to really stick the point home. It's not how many trades you put on. It's how many trades you put on properly. And now, as much as everybody wants, like that day we saw yesterday and Friday and Thursday, one of these massive pivots, everything is running. Everything's collapsing. Sometimes you need a day of kind of mental step back. You're looking at the landscape. You're picking your spots. You're really seeing macro levels being confirmed. And you try to take advantage of it. Again, does everybody want that 10-star trading day? Absolutely. With the 20 pivots, everything's going nuts. Absolutely. But again, sometimes you get two, three, four really good solid ones. You make your day. You go on to the next day. And again, the next day is only as good as the next day's starting pitchers. So if you look at today's area, and again, everything is very, very calculated. Like we talk about every single day, I really do put a lot of thought into these setups. These are not just, take a shot, let's see what happens. Here's your stop, Lucy Goosey. It's very, very important that every single element of the PS60 theory gets confirmed both technically. And it has to complement what's going on. So for example, if you see a stock that's breaking out and the futures are collapsing, again, you've got to use common sense. Do I really want to be that smart guy to try to pick a needle in the haystack? So, you know, sentiment is important. Watching the futures on your entry is important. Order flow on the option side is definitely a plus. So for example, if I'm looking at, I'm just using the example, if I'm looking at Netflix like we had today, one of the more aggressive pivots of the day, when we have Netflix, for example, and we're watching, for example, the 420, and we'll get to the specific pivots in a second, and I see a bunch of near-term buyers come in of the 400 puts, the 385 puts, the 375 puts. It's much easier to get conviction that way. So again, they kind of complement each other. But again, common sense is obviously a must. Expansion days obviously are a plus. But again, it's very, very important just to stay in business. One trade is great. 100 trades are great. But again, if you're not trading them properly and using common sense via technical analysis, then again, it doesn't make a difference. How many trades are you going to put on? You're always trading from behind, behind the APOL. So let's talk about today's session. Again, this is pretty much last night's video. Again, it's important that we treat what we see, not what we want to see. Again, tonight we discussed a potential double top. That's exactly what happened, right? Exactly what happened today. Double top, again, got confirmed when the market got faded. Right at the open, again, it's very, very important to understand and embrace technical analysis. And then we started kind of going through one by one. Again, there wasn't that 200 pivots, again, exaggerating. But there wasn't one of those days. But again, it was very economical, seamless, good value. That's the most important part. We're trading because of the good value and the results were pretty decent. So ZMO is watching pre-market. 168 needs to build. Never got there. I actually like this thing as a short tomorrow. So here is the 168. Just to show you what I was looking at. So here is the 167.85, 167.62. So this whole channel is 168. So I was watching this 168 for a build on top of that. Obviously never got there. It went straight down. We'll talk about the next setup tomorrow at Morning Strategy. Netflix, this is the big one. We talked about this this morning. I kind of felt this was going to be the day. I didn't expect a $16 candle. But I did believe today was going to be the first leg of the next leg down. And we started talking about Netflix 420. Let me just give you guys an area where we were talking about here. So here is, I don't know what this is here. So here is the 420. This whole channel here was 420. See that? This whole channel here was 420. So the numbers that I put that were very, very important, especially in the live webinar, 420 was the 60 minute channel that I was watching. 418.88 was the previous days low. And 413, this was the magic number that was last week's low on this rising 10 day moving average that needed to confirm. And once all that happened, I mean the stock just got destroyed. Congratulations. I minimized the trade a little bit. I really did. I kind of screwed up. I thought it was taking a little bit too long on that 413. So I did okay with it. Should have been a lot better. Should have been a lot better. I know a lot of you guys did really maximize the trade. I kind of screwed up a little bit. But again, as we say all the time, let your worst trade be one that you do well on. So here is the whole breakdown. Took out the 420. Took out the 15.88. Took out the 413. And really, really collapsed all the way down to the 403 area. Again, I said it was going to go down to 404. Here was right here. Where was I? Sixth move under 303. So I said it was going to go down to 404. Yeah, so 404 next cover area. And it got down to 403 and changed. So really, really big move on Netflix. I wish to say I maximized the trade, but I did screw up. I definitely screwed up here. Tesla, I didn't put into the channel and there was a reason why. Last night we saw the stock go down to go down 15 bucks and this morning it was flat. So I was very, very hesitant to put it on a pivot into the channel. The only reason why for all you guys who are in the live webinar, obviously you guys know I'm speaking play by play before the pivot, during the pivot, after the pivot, everything in between. Unfortunately for all you guys in the live pivot feed, you're not getting the benefit of the play by play. So if a stock stalls out, if we see something very, very unusual in the potential pivot, you know, we're getting out of the trade break even. It's very, very hard for me to turn around and say, hey, by the way, you know, hey, by the way, on the Twitter feed, this is what's going on. I can't type that fast. That's the whole point of the value of the live webinar. So I didn't put this pivot into the feed. And most ironically, we actually didn't have a pivot the rest of the day. So if you're watching some upside pivots, we'll show you in a second that never confirmed, but we didn't get a clean look on Tesla. And this is, again, one of the very few days I didn't participate in Tesla. Hog was good. You know, who would have thunk it, right? Who would have thunked Harley Davidson? Harley Davidson was good. We talked about this right here. This 2090, what was it? 2090, 21 needs to build on Harley Davidson. Here is the pivot right here. Here's the 2090, 21 area. Nice move. You know, went to, you know, 22 and change for $20 stock. It's a pretty damn good move. Caterpillar went pre-market, put it on a high of 18, never got back. I caught BYND pretty well. BYND $100.75 if it builds below can flush. So here was the pivot on BYND, right? Here was the pivot on BYND right over here. The sneaky pivot right here was $100.80. Everybody see that, right? Here's the sneaky pivot. This is what we talk about sneaky pivots. So it came down, it came down, went down to like $100 and like 20 cents, sat around there. I shorted the stock, went all the way down to like 98 or so. Initially moved to like 98 and change. I made some covers, made some good covers. The last one I used, break even on my runner, which I got broken even on, and then the stock kind of started rolling over. This is a good trade. I still like it for tomorrow for lower prices. It went all the way down to like 97 and a quarter. So big move there. Actually a pretty good move there on that. Again, I did okay with Netflix. Should have been a lot better, but again, sick move. There was a $7 candle and then went down another $9. Nice move there, perfect move on BYND. Netflix got destroyed. I said, I'd love to see this 97.50s on my runner. Unfortunately, I got stopped on my runner break even before it saw the 97.50s bummer. But again, what are you going to do? Good values so far. Again, for all you guys, again, $404, good cover area. We got the news pretty fast on Boeing that there was some sort, I forgot the news was already this morning. It was some sort of probe something other. I mean, it's such a long day, I can't even remember. So $130 if it builds below can flush. So here was Boeing, right? So here was Boeing. Here was the $130, right? Here was the $130 on Boeing and flushed down to like 127. Again, like I said, not a lot, right? Not a lot of one of those prototypical 20 and everything go crazy. But again, it was a pretty solid day considering not a lot of hiccups, not a lot of headaches, just pretty straightforward, seamless day. And the most important part is again, we go into the next session tomorrow with a clear head. And that's the most important part. Again, 7.90s, I was looking for that area, which obviously never built. And I believe that was it. Oh, by the way, by the way, big, look at the call buying, you know, look at the call buying going on on Ali Baba just for the, for all you guys for FYI for the September, September 205 calls. I mean, this is millions of millions of dollars here are being bet on just kind of putting it out there. Yeah, Netflix never confirmed back to the upside. Tesla never confirmed back to the upside. And I think that was it, right? I think that was it and 409 needs to build. Yeah, never, nothing ever came back close. So ultimately, you know, solid day, you know, solid, solid day. I wish I didn't minimize Netflix. But again, you know, like I say all the time, let your worst trade in the world be a good one. BYD was pretty solid as well. Tomorrow, you know, again, I want to give, you know, I want to give, you know, I know where the cues are gapping up after the close. Facebook is running up right now. Google is running up right now. I want to kind of give the sell bias the benefit of the doubt. Doesn't mean it's going to translate into a sell session. But again, you know, I'm just looking at previous data. Every single time we close below 213, we continue. We'll see, you know, we'll see what happens. I know Boeing is before the close. And after close tomorrow, you got Facebook, you got Tesla. Obviously, Tesla will be the big one. Guys, have a great night everybody. God bless. And with God's help, we'll see tomorrow. Take care guys. Have a great night. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? 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