 Learn to love losing pennies. Again, the key is lose pennies to make dollars and we start confirming the ranges. 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, evening everybody. Welcome to another edition of theaxisatrader.com. Nightly wrap up show, hope everybody is doing well. Hope everybody had a great weekend. Hope everybody had an amazing trading day. And again, at the end of the day, guys, everything is all fun, all great. The trading, this, that, the third. But again, if you're not healthy enough to enjoy it, what is the point that again, like I said, every single day above ground is a good day. Anything that you can make yourself feel happier and validate your loved ones and all your existence is just the cherry on top. So hopefully everybody is doing well. So let's talk about the tape. Last week, we saw pretty aggressive clothes for Friday's action, more notably the NASDAQ composite and we'll just use the QQQ as a barometer. They pretty much set the tone. They reclaimed back the 50 day moving average, which was obviously super duper important and then we started talking about levels that we needed to reclaim to the top of the channel. And now with today's rallying yet another really pretty big day today, and we'll get to the individual pivots in a second, we are literally, we're literally stone throws away from this 297 level on the NASDAQ composite or excuse me, on the QQQs. And this is super duper bullish, especially with all the earnings that are coming out. If this was in any indication how earning season is gonna play out. Of course, we're just speculating, we have no idea. The way Netflix came out with earnings, obviously not the greatest earnings in the world, but had this really magnificent reaction to earnings. Another day two rally today as well. You have Microsoft tomorrow, right? We saw a pretty good amount of weekly 250 calls coming in. Saw some 260s, not that far away from expiration. We saw Tesla today, we've had another really good move today. They were coming for the 150s, the 150s, the 155s, the 160s ahead of their earnings quarter on Wednesday. So if this is one of those scenarios that, again, we survived 2022, every single company is pretty much laying off, cutting staff, whatever the case may be. And if this is turns out to be another quarter, they're discounting bad news, whether it's top or bottom line results. This could be actually a very, very good, aggressive quarter for technology. And this could really set the tone for the whole year. As again, as I've been saying, since we reclaimed back to 50 day moving average, last year we lost 33%, right? Is it so crazy? And I said this now three, four times since that happened. Is it so crazy? We rebound 25, 20, 25% this year than as a composite. It's not out on the realm of unbelievable or unimaginable. That's what the market does. Again, going back to some pretty horrific times, especially with the COVID scare and everything else in between. Tomorrow you have a manufacturing PMI, right? You have manufacturing service PMI, more data for the inflation front. But again, I don't think the tune of the tune of the song is gonna change. I don't think the disposition of the Fed is going to change. Some are seeing a good taming inflation status. Others are talking about now. Well, now things are, now we believe we could see rising rates continuing into well into 2024. And now, like we talked about in the weekend update, like Waller is talking about, hey, by the way, I could see us start cutting rates at some point. Again, what are they talking about? It's the dog chasing the tail and vice versa. But again, the common denominator over and over and over again, especially in a scenario that we are above the 50-day moving average, continues to be strong action, right? Very, very strong action. Like I say, every single day, like we talked about it below the 50-day, if this is your first time watching, again, thank you for taking your time to give us a few minutes, okay? If you could subscribe, like the video, we would really, really appreciate your support. If you wanna learn a blur about pivots, especially the way I designed them about 10, 11 years ago, come aboard, come aboard. I think it's some cool things. You could start looking at the market a little bit of different ways. And if you are kind of trying to break away from the normal, I think pivots are a very neat way to doing so. But having said that, look, I think two days, NASDAQ is up over 500 points. Is it possible we get an inside day tomorrow? Of course. I mean, absolutely possible. Again, I don't think the market is gonna go up every single day. Like we saw this, like we saw five days move up, one aggressive move down, and now we have two more aggressive moves up and now we are attacking the top of the range. So there is a scenario that I see that the market maybe rests tomorrow, especially in the indexes, but the cool part about the market resting, it doesn't mean the stock's gonna rest. And there's so many names that are either coming out of channels for tomorrow setting up or came out of channels today setting up that you're still gonna see pretty good aggressive to the upside. Look, I think the key is stay away from stocks that had maybe a run, like a two-day run from Netflix, right? Because if the stock is gonna get pulled, it's gonna be something like this, going from 313 to 360. But when you look at other names like NVIDIA that broke out really aggressively today, Tesla at one point didn't have a downtick till after three o'clock. It looks amazing. Look at the expansion volume today on this whole move ahead of earnings. When you have other semiconductor names like AMD coming out of a channel, Micron coming to a channel, it's not even just a semiconductor, it's not about just technology names. Look at a name like Etsy, right? Look at a name like Etsy is, you know, for all you guys who are in the drop, shipping all that stuff, look how good this damn thing looks. So the market looks good right now. It really, really does as a possible, you know, things turn on a dime and we're having a conversation like, I can't believe this market has gave back to, of course, again, we're not naive. I think the most important part is when you're in a trending cycle and for, you know, 80, 85% of 2022, that trending cycle was to the downside, you know, we saw a very, very aggressive predominant moves down and the most important part was when I kept on echoing the theory of, even in a bear market, when you saw 80% of the action to the downside, always keep in mind that you don't wanna short the stock that was down 10 days in a row. That's the one that's gonna reverse. So in a bullish scenario, you don't wanna concentrate on tomorrow. And again, Netflix might just go bananas and go to 400 tomorrow. We don't know. But the point is for me personally, I think there's better value than in Netflix. You know, maybe a day two run or day three run in the video, a day before earnings potential confirmation on Tesla. You know, Amazon, look at the call buyers coming into Amazon today. You know, Amazon, you can make a case study. They led this rally up. Today, it didn't really participate only up a quarter, but boy, oh boy, Amazon went from 81 to 99 in a matter of five sessions. So if this thing could start waking up tomorrow, and again, they were coming for the hundreds, the 102, the 105s, for the Februarys that's covering earnings, you know, this thing could spark up again. Look at a name, for example, like let me see what else I wanna give you guys. Look at a name, for example, like NET, right? This is kind of my point of, you know, leaving alone the Netflix's of the world and concentrate on the names that are just coming out of the channel. So again, if you go and going to be wrong, I use this analogy so many times, if you're going to be wrong and you're going to jump out of a window, jump out of the first floor. So if it stalls out of the top of the range here, you're losing 20, 30 cents. Don't jump out, right? Don't jump out of the 25th floor that you could be losing dollars. Again, always remember the key formula in this business, especially trading technology, you wanna respect levels, both the top and the bottom. If they start stalling out of the top, right? Learn to lose pennies, right? If they start losing, you know, start getting stuck in those reload buyers at the bottom, learn to love losing pennies. Again, the key is lose pennies to make dollars. And when they start confirming their ranges, usually good things are going to happen. So again, I'm always cautiously optimistic, especially in a bull side environment above the 50 day moving average, the same kind of, you know, the same kind of message we talked about on the weekend update. Yeah, I'm bullish going into tomorrow. Do I think the indexes have to be up? No, I don't think so. I think there's, you know, always a shot considering the NASDAQ just went up 500 points in two sessions, is there a shot the NASDAQ goes down to 100, 150 points, maybe 200 points, sure, absolutely. But the continued theme is in the right direction. I'm gonna stick to the ones that are jumping, potential jumping out of the first floor instead of the 31st floor. And the key is again, always stay in business. So let's talk about today, pretty, you know, pretty clean, aggressive day. I didn't put in, you know, I didn't put in 600 different pivots today. I pretty much put in stocks that were coming out of the ranges, had some option flow, names that we trade, names that we follow, names that we set alerts for. Again, you can see it's literally, for the exception of Lucid, and we'll get to Lucid in a second, for the exception of Lucid, it's the same names I trade every single day. I'm literally, I would say throughout the year I'm literally trading the same stocks in 85, 90% of the time. Again, you know their history, you know their average true range, you know their tendencies, you know what stocks are better or more advantageous to trading the strength, you know what stocks are more advantageous to trade into weakness. And that's how you start developing your little niche. And that's my little, and that's my little kind of go-to area. And as you can imagine, majority of the trades are gonna be constantly the same thing over and over again. So let's talk about this. So on the video, initially I had this on the email update, an email update over the weekend. Initially I had it at 178.75, but obviously that wasn't gonna happen. You know why? Because the stock got upgraded this morning, right? Stock got upgraded this morning. It was up three pre-market and above $3 there's the pivot. Draw down the tier size only because again you don't wanna chase the stock over and over again. If you're trading at this rank, that's exactly what happened today. 181.65 rejected twice, needs to build. I would say Nvidia built, right? I don't know if I'm gonna call me crazy, but I would say in the video built. So here is the, here's the ones, you know, one 60, one, what was it? The one 81.60s area and just the stock had a reload seller. I screwed up the trade a little bit, a lot, but in the video, you know, had a reload seller here, but when it finally cleaned them up, boy, look at this run on the video, absolutely huge. Meta, nice little pop on Meta, 140 needs to build. Here was Meta. All right, so it took out, it took out the 140, right? Took out this whole range here. It took out the 140. 140 was the highest from January the 20th. Took out the 140, traded all the way up to almost 44. Google again continues to be a beast. They had that, they had that announcement cut workforce on Friday, continuation from Friday's move. You have 98.30 needs to build. Here was Google, right? So it took out the 98.30, 98.30 was Friday's channel size, started building above 98.30, went all the way to 100. I think this thing started, I think there's a shot if this market continues, it tests the top of the channel here of 102, right? Microsoft, nice move ahead of earnings, 42.40 needs to build. My runner got stopped out when they pulled the tape a little bit in the afternoon, but nice move here. 42, 42.40 needs to build, traded all the way up to 245. Again, they report tomorrow after the close. Tesla was definitely, definitely the move of the day. 137.50 needs to build. That's the 118 pre-market highs, needs to confirm. And if you're watching Tesla right now after the close, it is trading all the way up into the 145s, testing the day highs. So here is the 118. You see this 118 highs here? 137.50, right? That's the 118 highs I was talking about. So it took out the January 18 highs and it was literally a staircase to heaven, went all the way up into the almost the 46th area where it's trading right now. I think there's one more run at this thing. If they, you know, I think there's a shot, right? I think there's a shot ahead of Wednesday night's earnings that if this thing somehow opens up red tomorrow and this thing traps shorts at the bottom range going red to green, who knows? Maybe this thing could run up to 152, 153 ahead of earnings. Again, this market is so out of control right now. Anything is possible. So huge, huge move there on Tesla. And here's Lucid. Again, Lucid, here's a perfect example of the options market dictating the stock once it confirms a daily channel. Lucid 8.50 needs to build. They were coming for short-term expiration for the 9s, the 9.50s. And here is Lucid. Big, big move here into the close. Big move here into the close. Almost that $9 area. I'm telling you, this thing confirms $9 tomorrow in the next couple of days, man. This thing could absolutely run. So, listen, market is strong. The market is strong. The action is strong. The key is, again, don't, you know, don't trade with rose-colored glasses, guys. Don't trade stocks that already had their multi-two, three, four, five-day moves. Wait for the bottom of the range. If that bottom range confirms, that's where you want to take your swings because the last thing you want to do is jump out of that 25th floor because I promise you, you will not survive. Guys, stay blessed, stay healthy, and I will see you all tomorrow. Take care, everybody.