 We trade because of there's value, and if the stocks are sitting in the middle of their ranges, you're not in this for a 50-50 shot, right? You're not in this and say, well, the stock's either a go or it's not. No, it's up to what works. 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, giving everybody welcome to another edition of the Axis of Trader.com nightly wrap-up show. Hope everybody is doing well. So let's kind of review from yesterday. We talked about the Nasdaq 100, the Qs, putting in an inverted hammer, which is a short-term negative. Does it mean the market's going to go to the lows? Does it mean it's going to go to pandemic lows? It just means it's a short-term sell signal that the market high probability will go to its next demand zone. And that's exactly basically what happened today. You had a day two of selling, and we went through the 10-day moving average pretty quickly. In the morning, we went all the way down to the 20-day moving average. And just like all bull markets, it's structural, right? And that's all it is. You don't need to have a throw the baby out with the bath water scenario to kind of be proactive in potential selling pressure. And what we saw yesterday, what we saw we were prepared for today, going to today's session, is just day two of high probability selling coming into the session. Now that you're getting more and more people, and it was pretty evident this morning, now that you're getting more and more people starting to go on their Thanksgiving holiday, you saw the volume this morning, very, very weak volume. You saw the spreads this morning, really, really widespread. And that's just goes to show you that participation in the market is everything. So when people are talking about this market is driven by algorithms, it's false. It's absolutely false. Yes, do algorithms have a huge role in market structure? Absolutely. There's the R2-D2C, 3PO society control a lot of the volume that you see. Absolutely. But a stock doesn't trade at a $50, $70 spread because R2-D2 is involved. It's there because market participants are lagging. That's exactly what we saw today. At one point, we saw Tesla trading today a dollar dollar and change spread. That's not a normal thing. That's caused a lack of market participation. We saw the same thing at the open today. Google at some point was trading with a $6 spread, right? That has nothing to do with algorithms. It's market participants not there. So we're going to see probably the same type of scenario going into tomorrow's session. And I'll be honest with you, if you don't see any value tomorrow by like lunchtime, just call it a day. Call it a day. Tomorrow's me, today and tomorrow, the two busiest travel schedules of the holiday season. And the market has been absolutely phenomenal, incredible action. People are just decompressing. And I've said this today in the webinar, you don't need to go nuts every single day. Be a better friend to yourself, right? Once in a while, just take a deep breath. The market's been really strong, both sides of the aisle, but especially on the bullish side, you're getting terrific value in those days. Sometimes they listen. The market, less volume, bigger spreads, blah, blah, blah. The continuity is there and that the theme is not really there. Just throw in a towel and say, look, let me see what I can get. Worst case scenario, there's always another day ahead. And that's exactly what we're seeing today. Big moves down today early. A lot of names were collateral damage of Zoom. Zoom took down a lot of the stay at home names early. You saw Chewie get hit. You saw Docu get hit. You saw Netflix this morning getting hit in Peloton and everything as well. So the rise in COVID cases now that you're seeing in different parts of the world, yes, it's absolutely something to monitor 100%. But I think we're doing as good as job as possible, at least here in the United States. Even in New Jersey, we're still getting 2,000 cases a day. But I think people have gone to a great deal to learn to live with it. Everybody's still very, very concerned and everybody is still really, really on the ball of what potentially could happen. But people have gone with their lives. I think that's the key. I think people altered some things in their lives. But people for the general have gone with their lives. I do believe with this whole holiday season, we probably will see a pretty big spike in cases. But the most important part is that the cases don't turn into ventilation, all that stuff. I think most of us who are vaccinated, eventually you will get this thing, but hopefully it will be a lot less significant than what we saw in the first, I guess, three waves, as they like to call it. So you got some big moves down today. The one group that really stood out for the day was financials. Again, you see the Goldman Sachs of the world, the Morgan Stanley's of the world creeping up above supply. That's a good, good thing. If you look at everything else, and that's probably one of the main focuses going into tomorrow, financials look pretty good for a day to run. When you look at everything else in technology, just because we had a pretty significant sell-off back-to-back days, when 1% yesterday, we were over 1% today, there's a lot of charts that kind of damaged a little bit, not to the point of you have to sell everything. A lot of things are just in the middle of the range. So if you look, for example, on NVIDIA, NVIDIA got down to the 10-day moving average and bounce. You look at Amazon, for example, you look at Amazon, for example, got down to the 10-day moving average and bounce. You had Tesla, for example, got down to the 10-day moving average. So a lot of names going into tomorrow, they're not long, right? They're not long, they're not short, they're just kind of in between. So when you have a scenario that is setting up that there's no clear bias going into tomorrow's session, that's the day, again, kind of day two, you want to say, okay, you know what, let me see what I can get. I'm not in any rush, just because the market's open, I don't need to trade. Again, we don't trade because the market's open, we trade because of this value. And if stocks are sitting in the middle of their ranges, you have no, you're not in this for a 50-50 shot, right? You're not in this to say, well, the stock's either going to go or it's not. No, it's not the way it works. You want to make sure you have a definitive edge on every single trading day. And tomorrow is setting up especially the day before Thanksgiving and to be kind of a toss-up session. Yeah, I mean, is there names that I like on the long side and the short side? Yeah, I do. I like this ABV, ABBV looks pretty decent. Goldman, I obviously like some of the financials I like. Even the stock like car, you guys remember this meme, I guess it turned into a meme, this whole Avis car rental that had explosion, keep an eye on this channel. Again, this is a type of such a weird market that if it starts taking out this whole channel here, maybe it could wake up, right? Maybe it could wake up. If you look at the downside, there's some names that I'm definitely watching to the downside. N-T-E-S, stop at the 10-day, we'll watch for confirmation. A name like Zen, you guys remember all these plays that we've been doing recently, these earnings lows? Well, first close below the earnings lows. So we're going to keep an eye on this thing. I'd like to see a stuff green to red and maybe starts a multi-day, multi-week kind of selling just like kind of what we're seeing right now in beyond. It triggered yesterday off the 7670s, got down under 74, I still like it. I think a couple of bucks in this thing, thing still looks like it wants to visit 70 bucks. So that's what happens with these earnings plays. They break the earnings low, nobody cares about them and they just kind of drift for like four or five days. Again, look at the letter Z before it had a little bit of a you know, a little bit of a bouncy, right? The stock sold off one, two, three, four, five, six, seven, seven days in a row. You have nearly two weeks worth of selling. That's exactly what we expect. Well, at least I expect, I hope you see in beyond, right? Maybe another four or five days of selling, but that's exactly what we're kind of watching for the Zen going into tomorrow's session. I kind of like this Akamai, right? It never sold off. This actually looks pretty good here. I like the top of the range here. So you could see here, you know, I'm not talking about the stocks that we usually talk about, the Teslas, the Facebooks, the Amazons of the world, because again, they're kind of not here, not there. So this is a perfect time to kind of decompress, be a better friend to yourself. Do you have to trade? Do you want to trade? It's, you know, potato, potato. Yeah, you want to trade, especially when you're newer, but you don't have to trade. Again, that's the most important part. That's the discipline and it's the money you save, not the money you make. That's going to give you value in your account. So let's talk about tomorrow. So again, I'm kind of 50-50, I don't know, you know, I'm not really feeling tomorrow's session. Again, there's some names that I do like, but nothing crazy. You know, Google got hit really aggressively today. 29-21, if it builds below, can flush. Here was Google. Again, it was very, very thin this morning. It was trading a four or five dollars spread. It took out at 29-21, went perfectly with this Bollinger band in the 2880 area. It was down at one point about 50. Nice move there. Micron never got, you know, never got down to this 83-60 level, got saved on an upgrade. You had Qualcomm, not a big move, 78, you know, 78, not a big move at all. It felt like the market was going to go through the motion. It went down like a dollar. There wasn't big moves. There wasn't any big moves here, especially off the opening rips. SWKS kind of just sat there. This one went unfortunately pre-market that I didn't have a chance to. Just went straight down. Aggressive pivot for experienced traders, 319 held twice. This thing got hit really, really hard. The problem is it went down so fast pre-market. I don't think anybody had a chance. It went down about 11, but again, I didn't have a chance to trade this thing. Chewy, straight down, 65, 50, 65. It builds below, can flush. Here was Chewy. All right, so he took out the 65, 50, 65, went all the way down to 62. Again, the casualty of the stay-at-home names. This one again, way too thin. It literally went from 617 to 605. It felt like on two shares. It's just way too thin, impossible to even trade that thing. Dock you got hit. Again, another example of the carnage that Zoom laid in distracts 242. If it builds below, can flush. Here was Dock you. Here was Dock you. So it took out the 42. It took out the 42, went down to 337. Nice move there. In Dock you, AMAT, nothing huge. AMAT went down maybe a dollar and a half, nothing big there. Tesla, boy, did I screw up Tesla. Here's a perfect example of what I mean about how the market was. You could see there was no participation. So 1154 was the pivot on Tesla. I shortened his second entry. It goes down like $3. And it was trading literally like a dollar, dollar and a half spread. I saw it stalled out. It took a little bit of flow, break even on the balance, went up to like five. And the next thing I know, it turned around, it sold off like 50 points. So okay, I dropped the ball. I definitely dropped the ball on that one. Anyway, it is what it is. So that's it. And here's my message. I go take the gas off, take volumes light, spreads a wide patience. We've been blessed with huge value. We don't need to trade because the market's open. That's exactly what we talk about every single day. Tesla just got absolutely destroyed, lucid, never got down to the 4870. So look, it is what it is. What the hell happened to my, there is, it is what it is. You know, a slower day, I expect another slower day, some opportunity tomorrow. But I think the key is always remember two things guys, premium hands only, and we trade because there's value guys. God bless. I want to wish everybody a happy and healthy Thanksgiving. May God continue to bless you all stay healthy. Stay happy. And I will see you all tomorrow. Take care.