 Good afternoon everyone and welcome. Welcome to the Stock Swiss Show play of the day. This is PBY. Nice, bearish gap. Beautiful golden gap here. Let's take a look at it. Did this aggressively this morning despite the fact that initially the volume was not exactly ideal. Did it anyways. Even didn't add in this play this as hard as I could. Had a great exit. Had a great exit on this and a lot of people always ask me, how do you know, how do you know where to get at the right place because I have the numbers and also I'm watching the price action as I'm up in the tree. Okay. Time of the day price action, the reversal signs, all of this that I teach in the class. Did a great job with this. Could this have gone more today? Yes. Is this done for the day? Probably. I mean, at this point now 1205 this could set up in the 15 minute. Do I think it breaks below the day? Less than 50% chance. 30, 70, 70 meaning no. So let's take a look at it. Nice short here in PBY. Okay. And look at this thing. Nice extension here. Nice, nice, nice. Let's take a look at it. Had an aggressive entry in here. Again, target was $10, nine pennies from the target. That's the target. All right. These again, these are areas. You're looking for areas of information and places to take the position in and out and I am very specific with what I do, but I'm also watching a combination of things in the price action I see and the time of the day when I'm making the decisions, which I did, did a great job with this today. And I held the whole thing down as long as I could with the ad. That's, that's what you have to do. That's what you've got to do. And I'm going to really start doing this more and more and more here now into the fall earning season, into the heavy fall trading season. Why? Because I got to make my money now. You know, and the thing is that in order to have big days, you have to hold at least half or more than half or the whole thing to the bigger target. Otherwise, how to get the big days? You need big days in order to have big months up to the upside and you can't lose control to the downside, meaning get out of control on one day when things don't work. And I just don't do that anymore. And I know that people do, but you can't. Conviction helped me with this today. We're going to go over it. Conviction always helps me. I don't think you can trade and make money in the market without conviction. And I have a lot of that, lot of it, which comes from experience and time and doing the strategy that I believe in and I've experienced and I've been profitable in. But at the beginning, obviously, when I started training the market, what did I have conviction in to allow me to continue to teach myself the things that I did and trade. And I was losing at the beginning because I didn't know any of this stuff. And I did it with my own money to figure it out. And what made me stick with it to figure out the stuff I know so well now that I'm doing and making money is because I had ultimately conviction in myself, my own ability, my own intelligence, my own well worth all to be able to figure this out and have the courage to do it, which it took a lot of courage. And so I did it. One person that I talked to, it was today, it was really today, a new gentleman I spoke to, it was a referral from our current student. He said that he's been trading for 40 years and he has in 40 years, his biggest problem is picking the right thing, knowing what stock on the day to watch to pick. That is the top thing. Now, that's not to say you can pick the right thing and then not screw it up because you could if you don't take the entry, right? And if you don't put the stop at the right place or if you get out too soon or kill it. But absolutely without a shadow of a doubt, the best thing about my strategy and the class that I teach is the 26 point rating system which teaches you what stock to watch on the day to know to get it, to know to do this, and to have the conviction to do what to hold it to hold it in the move and to hold it in this kind of green bar back here because if you didn't have the stop at the right place or you got taken out, I had it at the exact right place and I had the conviction to stay with it. So not only did I have the stop at the right place to keep us in the train, I was already in it. I was short in this in here. I also had the conviction to not kill it. All that happened in here was people covering and also there were some buyers in here, which is not the actual people that are creating the gap in the first place, which is the bears are people selling or shorting because otherwise the stock wouldn't do this in the day. Stock could not go down in the day unless it has one or two things or both, which is selling and shorting. A stock isn't read from buying. Okay, that doesn't make any sense. A stock has read from selling. It has read from shorting. Okay, the stock would not be right on the daily chart on the bar today if it didn't have selling and shorting into it. Okay. And a nice move here. And it's not even early in season yet. So anyways, did this shorted it, had the stop at the right place up here held it all the way through, could have gotten out of it here. What do you have now? This was the day not necessarily, although again, 10 pennies from the target. Didn't add in here. It was aggressive to do that. Love myself for doing that. Didn't know where to stop. Okay. And it worked. But then when it came down in here and did not continue on, I had to take it. And I did the right thing by doing that. And I'm also watching the time of the day. And I typically trade the morning and I'm done. Only run the library until 11 o'clock. Look at it here. It's 12 o'clock. My day is in. I'm done for the day. I mean, come on. This is nice. Nice, nice, nice, nice, nice, nice. Nice. So it allows me to focus on other things in my life. Working out, things with the business, doing a webinar today, or having a personal life, you know, I mean, for years and years and years, I treated and treated till four o'clock, and then studied after that, and had another job at the time when I was learning how to do this, before I figured it out, started making money. And you have no life when you're working all the time. And I'm telling you, having a personal life is extremely important. One of the challenges of living in New York City is that a lot of people that are smart and bright and successful work a crazy amount of hours, hard to connect with people when they work too many hours like that. If you're obsessed about your job and you're strong and successful and driven, and you don't make time for your personal life, you're going to turn around one day and say, oh my gosh, where did the time go? And wish that you had spent more time creating relationships, friends, romantic relationships. It's one of these things where you have to make the time to do things, just like if you want to make more money in your life, and you are spending too much time on the other things in your life and not enough on your financial success, you know, you have to somehow, it's a balance. It's all about the balance. It's all about the balance. It's always about the balance. And I have a good, good, solid balance in my life right now. It took me a long time to get here, but, you know, worked hard at it. But here it is. So the gentleman I was talking to this morning said, in 40 years, he cannot figure out what to watch in the day. And obviously, the person that referred him to me as a student said, I do a good job of picking the right thing to watch every day. So I appreciated that. And I do do that. It's from six years of experience and the reading system. So conviction helped me hold this data a bigger number. Conviction helped me do the ad in here today, which might have failed. Why? We're in a strong market and you never know what can happen. Also, this broke late. It was after 10 o'clock when it did the break. And it may not have continued to fall in. Why? It already had three big bars down in the 15 minute chart. But a beautiful bearish gap today in PBY. Nice golden gap. This is a great way for people to start the month. It's going to be a good month for shorting, which I did discuss. Buying strong things if you get good bullish gaps for the downside. I've seen some more follow through setting up in things today or this month, like today, than last month in the month of August. And typically September is a busier trading season as well, which is very important. So again, if you knew what to do with this today, you had the right read on it. If you did not know what to do with this today, you may not have had the right read on it. Why would someone do anything but short this today? Well, they wouldn't know how to read price action if they would buy this. But a lot of people tend to do like what you saw in the one minute bar in here and believe that the stock is going to fill the gap. So they want to buy this then to fill the gap in here up to 11-11-10-ish. But that's not going to happen. And again, this is all the stuff I teach in the class, why this is going to work and why to have 100% conviction that this will work. This worked extremely well today. There was actually quite a few things to look at today. So I did a good job of narrowing it down to PBY. Could this have gone to a bigger number with nine in front of it? Yes. Did the right thing getting out? Yes. If it had gone to nine something would have been regatted where I exited it near the low of the day? No. Because you can't hold something to a bigger target and not sometimes give back a little bit, taking it out or holding it and then getting the rest. But I really had a good exit on this today. I'm very proud of myself and I did the ad and I'm going to do more of that into the coming months here. And I give it the option. Sometimes you're taking more risk in doing so. Sometimes you're lowering it. It depends. I'm adding size then when I do an ad. So I take the original position and then I take more into the into the position to take more size. How do you make money in these kind of trades? Size. How do you make money in something that a ten dollar strike price that moves fifty, sixty cents on the day? Size. Okay. It's all about the sizing. And the great thing about day trading is that I can trade with size. I can be more nimble with what I'm doing. If you're doing swing trades or core trades, you do have to manage yourself directly with size. You're not taking as much size as a day trade. But you can still get beautiful moves and things. And actually this is not half bad here for a longer term trade. I mean, the stock is lower. So have a great day everyone. Have a wonderful afternoon. I'm doing a webinar this afternoon at 4.30 Eastern time. If you'd like more information, email me at Melissa at thestockswish.com. Also upcoming classes this weekend, September 13th, 14th, and 15th. I'm doing a special bonus day with live trading on the Monday after the weekend class. Feel free to reach out to me if you'd like more information or want to sign up. You have to decide if you were committed to your trading to learn how to find the right picks. If you can find the right picks, you will have a higher chance of success in the market. It is all about picking the right stock and knowing how to read it to trade it in the right direction. If you can pick the right stock to trade and read it in the correct direction, you can make money. Now that's not to say that you will every time if you screw up the entry or exit. But I think it would be really hard for you to do that. I mean, you know, I think it would be hard to say that anyone could have shortened this today and lost money. Like that would be like almost insanity unless you try to scalp it in the wrong direction after it already broke or took it late. And I have people, hey, people do that after they realize what they're doing. And then they did something wrong. But, you know, again, I teach the answers in the class as well. But this is definitely lowering. I don't know. It could continue in the afternoon, but I'm not going to replay it. I like to do the morning there. You get 80% of the move in the morning, set 100% of the move in the morning. You get 80% to 100% of the momentum and the volume and the move in the correct direction in the morning. And that's the great thing about Gaps 2, which again allows you to have a personal life. And I think that it's extremely important when you are a trader and you're doing things in reference to taking risk and making money. You do have to be in balance. I've worked on that for a long time and I'm in that right place and framework with myself. You have to be in a healthy framework, balanced mentally, physically, spiritually, all the whole thing, the whole shebang. Emotionally or you will not make the correct decisions. It's very important. All right, have a great day everybody. If you need anything, email me at melissathestalkswitch.com.