 Here's a perfect example, here's a really good example when a stock stalls at a whole number to get the hell out of dodge. So SRK experienced traders only 44, 75, 25. 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 accessaetrader.com nightly wrap up show. Hope everybody is doing well. Hope everybody had a good trading day. So let's talk about it. So we really did see what aggression looks like. I think that's the best way of saying it. Last night, you saw the news over the weekend, England was gonna close down, I forgot how long, but they're closing things down because of the spike in Corona. So we had Dow futures down 250 last night. When we woke up this morning, futures were up about 450, 500 points, incredible aggression. And I quickly said, and I kind of knew this, you know, it wasn't anything that had kind of hit me in the face by surprise, but I kind of said, look, if the last 12 hours of futures action, just cash futures action in the overnight session was an indication what's gonna happen this week. You better put on your seat belt. You better put on your bulletproof vest, double cup it, right? One single jock strap is not gonna, it's not gonna cup it. You gotta double cup it this week. And the most amazing part is when we started this session, we actually had an orderly session despite what the indexes were doing. And this is one of these, you know, this is one of those days that, you know, when the Dow gapped up 450, 450 points, it's the complete opposite of what usually what I would say if the market gap down, you know, 400, 500 points, if the market gaps down 500 points, if you're watching this broadcast for the very first time, the value is always to the upside because again, the average true range on most stocks are going to happen in that pre-market wash. Well, the same thing is the opposite, right? When the market gaps up after days and days of selling action, that's exactly what we've had. And again, you can make an argument in clear claim site that we've been selling now since, well, October the 12th. So we have almost a month worth of selling or at least three weeks of selling. So the fact that we gapped up pretty much everything gapped into supply. And if you looked at your charts, and again, everybody should be looking at charts nonstop, but if you looked at your charts on the weekend, you could see how close a lot of these names really came for technical damage. And that was a very, very important part. So the value, the initial value today was to the downside. And we kind of got that. We saw a pretty aggressive move today, intraday. The Dow at one point went from up 500 points to up like 170. The Qs, I mean, talk about a U-turn. The Nasdaq composite literally went from the Qs, literally went from 273.5 all the way down to like 267. So this is a huge move. I mean, the Nasdaq literally went red and our game plan was primarily short bias on beta, long bias on some of these EV names. We'll talk about the individual pivots in a second, but it really did show you how aggressive, or at least aggressive potential can be. The most amazing part about today's session when we talked about the craziness over the weekend, it really was not that crazy. Maybe it's just because a lot of people are really on the sidelines, like really watching to see what's gonna happen tomorrow, to see who exactly, at least an indication who could be in control for the next four years. But it was not that bad, right? It really wasn't that bad. And we had some longs. We had some shorts pretty orderly. The index again, going from top to bottom and then rebounding, going back to the top. And you can clearly see a lot of weakness in a lot of beta names. So a lot of beta names really got hit today. Amazon got hit, like really aggressively. Zoom again, we touched about Zoom over the weekend. Again, we said, look, if the COVID names, if the COVID spike is in full bloom in the second wave and they're selling off the COVID names, that's a big red flag. So you had a big sell-off today in selective COVID names. Amazon got hit as well. There was a lot of weakness. Apple went red. They took NVIDIA down. They took Facebook down. So there was a really big disconnect today from the Dow Jones industrial average to the NASDAQ name. So when you look at the final scoreboard today and you turn around and say, well, the market was up 423 points. No, that Dow Jones industrial average was up 430 points. That's 30 stocks. That's it. The NASDAQ, again, although it was up, did it really feel like anybody that it was up, right? And then that's a very, very honest question. And when you're looking at charts today, you'll notice a lot of things. There is a big mess, a huge mess. There are no really good aggressive long setups, right? Can we, look, can we bounce tomorrow? Of course we can bounce tomorrow. Again, we held the good news is for the bulls, we did hold this 267 level twice, right? On the rising longer-term trend. So that at least is fine. Again, any close below 267, again, like we talked about on the video over the weekend, then we go see 260 pretty, pretty quickly. But again, at least we did our, excuse me, the bulls at least did their job at least for one session. Tomorrow, who knows what to expect, right? It's the eve before the election. You're gonna see just ridiculous amounts of news flow tomorrow after the close. You're gonna see the futures all over the place. Tomorrow, it's almost one of those days like tomorrow night, there's kind of no point to do a watch list for tomorrow night session because you're either gonna get a 500 point one way or other way, maybe a 1,000 point, up way, one way or another, come tomorrow night. You're gonna see it on the overnight cash. So it's almost tomorrow, like kind of like your day off from that charting. But until going into tomorrow, you will see a ton of mess, a ton of mess and the actual value continues to be to the downside. So if you look at names, for example, like Tesla, that had their big breakdown on Friday, got rejected today by the five day moving average, kind of put it in an inside day. Again, the value at least going into tomorrow. And again, nobody's saying Tesla's gonna go to zero tomorrow. We're just kind of literally talking face value where stocks are. So if you look at Facebook, Tesla, for example, it broke down on Friday, had that really big pivot. It got rejected off the five day moving average, put it in an inside day. Again, it's that sell by, it's not buy by, it's that sell by. If you look, for example, a stock like Roku, even though they do report on Thursday, again, look what's happening here. Again, he had that big breakdown on Friday, right? The same thing, got rejected off the five day moving average. Again, the value on a stock like Roku is to the downside. And when you look at the names that completed their cycle today, the stocks that broke down on Friday, confirmed today, they got killed, right? The Amazons of the world got murdered, right? This is an absolute murder. We'll talk about the pivots in a second, but this thing confirmed that 30, 18 level went all the way down to 29, 50. Again, it confirmed, it played out its cycle, okay? It already did that. Zoom the same thing today, right? Zoom broke down from this level, confirmed this level. It broke down. Again, we talked about the measure potential to the 50 day moving average. It did that, so it completed its wave. So I think going into tomorrow's cycle, look, is it possible we get a debt cat bounce tomorrow in anticipation of election night results one way or another? Of course, but again, guys, remember, when you're talking about a debt cat bounce in any group, okay, your safety net is very, very far away from where actually it should be just because it's a debt cat bounce. And again, you could turn around and say, well, Dan, I could use the previous five minute low. I can use the previous 60 minute low. Of course, you can make those judgment calls. Absolutely, they're all valid. But when you're really doing a debt cat bounce, aren't you supposed to use the previous days low? So for example, if you go long Zoom tomorrow, right? You're going long Zoom above today's high of 477. The low of Zoom today is 440. Are you really gonna sit there and risk 37 points on Zoom? And that's kind of my point of what potentially could happen tomorrow. We could have a debt cat bounce. And there's a lot of names that are crazy oversold like an Amazon and a Zoom after completing their selling wave. But the hard part about any debt cat bounce, you don't have a true point of reference that you're having your risk reward completely defined instead of really expanding. So it's gonna be very, very tricky. Now look, if the market turns around tomorrow and starts going lower, of course, again, like we talked about, I like Roku, right? Ahead of earnings to the downside, if it starts confirming. I like Tesla, if it starts confirming. I like NVIDIA. There was a pretty decent pivot today on the video. But again, same thing on the video, right? Broke down, got rejected off the five-day moving average. It starts taking out this channel here. It's gonna go lower. So the value is tomorrow to the downside. I would not be shocked if we see a debt cat bounce, but I would rather have a downward day just because there's a more clear line to the path, to the goal line than we have to the upside. So again, if it's all the same for everybody, I would like to see a gap up, stuff into supply, turn over, go green to red and start selling to some selective names. Again, just for me, if you feel the same way, that's great. If you think a market should rally tomorrow, that's great as well. But again, if you do look at charts, you'll see there is a giant mess. There is absolutely no advantage, really clean advantage for the bulls and the bears. Yeah, you can turn around and say, look, as long as we stay above 267 on the queues, is that bullish? Again, I guess if you can call it bullish after three weeks of selling, call it whatever you want. Tomato, tomato, potato, potato. But again, the moral of the story is stocks are either going to break down tomorrow. Again, continuation from Friday's sell-off off of macro support, continue to do technical damage or we're gonna have a dead cat bounce. And again, it sounds stupid to say that, right? It's the most novice thing to say. Well, stocks are either gonna go up unless they go down. Yeah, no crap, right? But that's kind of where we are. And if again, if you're turning around and you're looking at setups in, for example, like the utility spaces or the consumer cyclical spaces, that's when you know the market is a standstill. That's when you know people are turning around and kind of waiting to see what happens in the election. And I think money flow will start going back into the market more aggressively. After at least we have an idea to see who the next president of the United States is. So let's talk about today's action. Pretty fluid day. And I was actually very surprised by how many clean opportunities there actually was. I'm in the camp right now that I believe that I'm just trying to get from point A to point B until kind of this election goes off. I do believe every day will give you some decent values or it's not like you have to sit there and go, well, I have to sit on my hands until I have the election. I don't think that's the case because you are getting some pretty good opportunities to the long side, some days to the short side, most days just because of the uncertainty of what's going on. But I think there is value for the patient trader. So let's talk about today's session. Number one, congratulations to all you guys who did come in with NIO calls. This NIO, man, we've been seeing out of the money call buyers now for like two weeks. And we've been talking about this pretty much on a nightly flow. The 32s, the 34s, the 35s, the 36s. They came out some news that I think is delivery news, stock trade at the $35. I know some of you guys were holding the 31, 32 calls. Congratulations, big move there. Again, green to red short on watch for experience. JK Solar came no way close to the 56 area. JK Roku, green to red short for experienced traders only. Again, that's not a pivot. Okay guys, it's not a pivot, it's just momentum. It still needs to confirm 200, it never got even close. ADP was actually pretty good. ADP 59, 75, 160 needs to build. Nice three day consolidation. Here was ADP, right? So here's the ADP three day consolidation of 159, 50. Started building off that 159, 75, and stock traded to 162. Nice move there. LI, again, these energy, what do they call it? The battery plays, right? The NEO is the Tesla's of the world. EV played 22, 22, 10 needs to build. Here was LI. At least now it explains why. At least now it explains why we saw all that 25 call buying last weekend. Again, it was just very, very odd. But here's the 22, 22, 10 traded. Hi, it's the 23, 30. Nice move for you guys who took that as well. And again, this was kind of my notes this morning. I think most beta names do go red. This is when we were up 100 points on the NAS. Like I said, look, the problem is technically they still need to confirm Friday's channel. So we need to stay patient. So I knew no matter what, I wasn't a buyer today. That was completely off the table. So we want to see some of these names start to confirm. And you really saw some really big moves here. Amazon, this is the big one here. Amazon watch green to red. Now again, guys, green to red is not a pivot. It is just momentum. That's what I kept on saying for experienced traders only. However, if it started building below 30, 18, it can flush really, really hard. And Amazon got murdered. That's the best way of saying it. And considering what the market did today. So here's the 30, 18. You see that hole in 30, 18 level. It went red on the day. So it was down like 12 points. And then it took out 30, 18 and got absolutely murdered. Went down all the way down to this 29, 50 level. I thought it was gonna stop at 29, 75, got to 29, 50. Really big move. Really, really big move there as well. Here is kind of a bounce. It was pretty much more of a bounce idea from macro for the macro players. If 446 held, that's the 50 day moving average. If it gets down there, could be a pretty good spot on a remount for experienced traders. If you look at ZM, and this is why, again, technical analysis is pretty cool. So it went through this 446, which is the 50 day moving average. It reclaimed 446, closed at 453. So again, can zoom bounce. And if you are holding, if you did buy, especially if you option players, if you did buy Zoom today, just make sure if it gaps up tomorrow, give them some stock and obviously use break even as you stop. At least now, again, we have another definitive channel here at 440 to the downsiding case the market starts accelerating through the downside. Again, ADP take on the way up. LI take on the way up. Yeah, Amazon went red. Went red, sweet. Very, very technical words. So I said, look, there's a puncher shot. It gets to 29, 74. So it got down, not only 29, 74, it went down to 29, 50. So that was a really, really big move. Roku, I still like it for tomorrow. I think it's one of the names that could potentially turn around and get hit. Here's a late day flush after a lunchtime flush in the video. 500, if it builds below, can flush. Again, not a huge move on the video, but again, not the worst thing in the world. So here's the video off the 500, right? Here's the 500 level. These two channels here got flushed and it went all the way down to like 495 and changed. I think that was it. I think that was it. Oh yeah, here's a perfect example. Here's a really good example when a stock stalls at a whole number to get the hell out of dodge. So SRK, experienced traders only, 44, 75, 45 of builds can spike to last week's highs. And the key here was, tear down your size with a dollar or max pain. So it spiked up, right? It spiked up, it went to like 45, 50. And then they brought it down to 45 really, really quickly. So the thing is, I know with pivots, especially in the second entries, when they don't go and they don't reclaim that whole number really aggressively right away, you get to get the hell out of dodge. So I said, if it doesn't go in the next minute, just dump it and that's exactly the name of the game. Don't sit there like a deer in headlights. The most important part is to get out, you could always go back in. So it's very, very important to watch in that order flow. And I think that's it, right? I think that's it, Neo, did it? Yeah, this, it wasn't NIO, it's INO. INO from last week, 1028, still going lower. Buyers came in for the November $8 put. So if all you guys were still swinging it, that looks pretty good. And I think that's it. I think that's it. So going into tomorrow's session guys, again, we have tomorrow is election night eve. Okay, expect anything that can happen tomorrow. It's going to be a little bit nutty. Again, you don't need to trade tomorrow. We only trade if there's value. Guys, have a great night. God bless, I'll see you all tomorrow.