 This is probably the most beneficial market that you can possibly lay down your foundation, kind of put your footprints into the sand. And with this type of market. 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.com. Nightly wrap up show. Hope everybody is alive. Hope everybody is OK, safe, happy, all that good stuff. Everything else financial is kind of a cherry on top. But since we are here to talk about financials, let's talk about the market. So you know the numbers, right? The Dow now is down 2,000 points over the last three sessions. The headlines are incredibly aggressive right now. Still no stimulus, obviously. And now we are really, when they were talking about wave two of COVID, we're in wave two. Angela Merkel, Germany might be going on lockdown. France might be going on lockdown. There's a lot of really aggressive cases. I believe, if I'm not mistaken, I believe Illinois went from 4,000 cases yesterday, which is a lot, to 6,000 cases today. So we got the really aggressive headlines on the table. Also, the number that we were talking about to the downside technically on the Qs, 276.76, they got violated. Again, you could see technically where the realistic resting spot for the market is. Somewhere right here, somewhere around this 269, 267 area, a soft and a hard area to kind of attach their potential rising support. So that's kind of in the air here. But I think from the trader's point of view, and this is kind of where I want to talk to, especially the newer developing trader, number one, it's not going to seem like this right now at the moment. It feels horrible. You're not at the breakout market anymore, that you could be wrong on your entry and still be validated because the market is so aggressive. But this is probably the most beneficial market that you can possibly lay down your foundation, kind of put your footprints into the sand. And with this type of market really shows you. And again, I've been doing this almost 21 years, everybody enjoys a bull market, of course. I'm one of them as well. Nobody would ever sit here and turn around and say, look, I'd rather have this market go to hell in a handbasket than a bull market. No, people in a bull market, it's just easier to trade. There's more liquidity. People are happier. All that good stuff that comes with it. But the best part about this type of market is it forces you to do several things. By not jumping in everything in sight, which basically a bull market is kind of a magnet to that, because again, people are jumping anything it moves. In this type of environment, again, the uncertainty environment, again, leadership, COVID, stimulus, all that good stuff, what it forces you to do, especially as a new developing trader, number one, it organically teaches you patience. It really does, okay? This is not a market that you can look at something at the day high pre-market list, up 200% start clicking a mouse. It doesn't work that way. We all know it doesn't work that way. So it's going to teach you organic patience, okay? Also, what it's going to do is force you to start thinking and using your brain. The brain part about this market, I've always maintained the fact that you don't have to be the smartest trader in the room, right? You don't have to be the smartest, but you can't be the dumbest either. And what this market forces you to do is have thought-provoking thoughts using your brain, thinking of things outside of just what's in front of you, making sure you're playing devil's advocate, making sure you could tell the difference between a value day and a day you kind of lay off the gas. These are good things, okay? And what's happening is subconsciously, all these things are going into your mental Rolodex. So if you survive and thrive and build your foundation and your longevity gets extended for another year, okay, for an extra year, then next time around something like this will come up and again, maybe it'll be disease, it'll maybe be financial, financial uncertainty, whatever it is, okay? Whatever adversity the market will eventually be another one, right? Down the road, whether it's two years from now, three years from now, 10 years from now, whatever the case may be. All of this, everything that you're learning today is going to be stored in your mental Rolodex and you will have that aha moment. You need to turn around three years from now and say, do you remember the COVID, right? Remember that COVID market that we needed to do this, that we needed to do that, that we needed to this, right? These are all things that are going to remind you down the road. Now again, you don't realize this, you don't appreciate this right now, but guys, to be honest, any fool could trade in a bull market, right? The price action makes you right. But a market like this takes some sort of thoughts, takes some sort of brain power, okay? You know again, you don't need to be the smartest person in the room but you can't be the dumbest either. And slowly but surely when you trade in a market like this or even a market after 9-11 or even a market during the 2007-2007 through 2009 financial crisis, all of this, again, as much as I don't wish a market like this on anybody and I don't wish this type of uncertainty for especially developing traders because again, we've all been there, okay? But at least the other markets that I've already traded in, they prepared me for this. So the only thing I can say is, nope, does anybody really have an idea what's gonna happen tomorrow, okay? You could turn around and say, look, the market's oversold, you know, 2,000 points in the Dow, three days in a row, the market's not bad. Hey, look, look, what's gonna happen tomorrow? We're gonna get saved tomorrow. Amazon is reporting, Google's reporting, Shopify is reporting, Facebook and Twitter, right? And Apple, it's gonna be a glorious day. Ernie's gonna save us. Can anybody really be so certain? So you have to make sure, okay? Number one, nobody knows what's gonna happen, okay? If anybody tells you they know for certain what's gonna happen tomorrow, they're delusional. They're completely delusional. This is such a fluid market that every single day is its own entity, literally its own entity. Again, yesterday on the close, look how strong the NASDAQ closed, right? By the time I was doing the update, Microsoft was flat, right? It was literally flat yesterday. If you look at yesterday around, I think I was recording around 5, 5.15, right? Eastern time, Microsoft was flat, okay? Hour after my recording went out, Microsoft was down four or five points. So this is a fluid market, okay? Nobody knows what's gonna happen. I was so bullish going into today, at least mentally, right? Again, I'm not holding any inventory. So again, does it make a difference if I'm wrong, right? If you're in the business to be right and wrong, you're in the wrong business. We're wrong, we're wrong a lot. The most important part is being wrong theoretically and not being wrong financially. So this is right now a trading market. This is a market incredible uncertainty, but if you pay attention, okay? And that's the key. If you pay attention and you gather up data, okay? This could be a market that you could benefit from. So for example, today we woke up, right? Woke up this morning. I looked at the futures and I go, great, holy crap. Look what's going on here. We're down 500 points in the futures today, right? The Dow, down 500, the NASDAQ's getting creamed. What's going on? What's the catalyst? I start reading the news and I start turning around and say, well, Germany's gonna close. France is gonna close. Italy's gonna close. The EU's gonna close. Everybody's gonna close. First thought of business, right? First thought of business is, hey, COVID plays could be, right? The COVID plays could be in play today. EU is possibly shutting down some countries. Good morning, right? So we had a plan. We had an opinion. We have the data that we needed to see on certain plays that we needed to confirm. We got all that, okay? We don't care that the market's down 500. It doesn't make a difference to me that yesterday, I'm looking at Amazon to confirm yesterday's price is to run ahead of earnings. That all went out the window when the Dow started going down 500 points. 600 points, 700 points, 800 points. That was irrelevant to turn around and say, you know, Dan, you were wrong about what? About having an opinion, about having a confirmation that never happened. Again, if your whole journey in this whole business about being, having somebody to view you as the smartest person in the room, again, you're in the wrong business. This is all about preservation of capital and trading in a math cycle, right? Higher probability you have on your side, the higher probability you will be rewarded. In this type of market, there's so many moving parts. There's so many different ways that the market could separate you from your money. You got to be incredibly just really thought provoked of your next step. And this is kind of, we go, we switch. We switch gears very, very aggressively. So my plan today was look at the COVID names. You know, look at the names that potentially could get a spark. Because again, we always say this every single day, when we do get gap ups, excuse me, gap downs, the value, especially the 500 point move pre-market, the value is always going to be to the upside. The only difference between today's session and any other session that opened down 500 points, we did not get the snapback on most names, but we did get the snapback on these COVID names. And that's exactly, we had a plan. We had some great levels. We caught some really good spikes, yada, yada, yada. We made it another day, tomorrow's the next day. So this is the, you know, this is the play. Again, COVID plays, we're on watch. This is my primary play of the day, TDOC that got smoked after earnings. They reported this tonight. But again, what's the difference tonight? You know, we're out of the stock a long time ago. TDOC upgraded this morning, Street High Price by Piper Jaffrey. Red to green for experienced traders. Note, this is not a pivot, just momentum 225. Hell, I went long red to green. You know, that's what it's, you know, we went long red to green. So it took out the 223 level, right? Took out the 225. Like I said, 230, 231 by the day, 231. Beautiful move. Again, was it the thickest stock in the world? That you could do massive size, of course not, right? It's TDOC. But again, beggars can't be choosers. I'm not gonna short the stock that's down in the whole 95% of its average to range with a 500 point gap down. So again, beggars can't be choosers. We take what we at the market gives us. So a really good move on TDOC. TDOC wasn't as much. I didn't take TDOC because I was trading, excuse me, I didn't take Dock U. If you notice all the plays here are all COVID related plays. I didn't take Dock U because I was trading TDOC, it established a new high when green for like 30 seconds was up a dollar and then it really reversed course. But again, guys, remember, red to green is not a pivot. The difference between TDOC and Dock U, TDOC got upgraded, right? So I'm always going to go with the one with the catalyst. So DOC went up like a dollar and that's it. Amazon, okay, never came close to 3270. And again, the reason why I was talking about 3270 if the market was gonna wake up, if you look at the 60 minute bar, right? This channel right here was 3270. This is obviously a fake print, but this channel here was 3270. Unfortunately, it just never got to 3270. Pretty aggressive sell off ahead of earnings pretty much with everything else. Chewy, absolutely exploded. Congratulations for all you guys who caught this move. Chewy not only was this a COVID play, right? The stay at home COVID play, but they came out with some sort of news that they're doing dog or cat examinations, some shit like that, dog examinations over the internet. How does that work? Like what do I do? Take my poodle, put it in front of the camera? Like how does that work? Nevertheless, 68 needs to build. Chewy went absolutely nuts today. Congratulations to all you guys who caught the Chewy. Here was the 68. It went through 68, just pretty much closed at the high of the day. I still like it for tomorrow. This thing traded to almost $73. I mean, absolutely huge move. Again, the more COVID numbers we find and we see, the more of these plays are gonna start waking up. But again, stick to the play, stick to, stick to the play, stick to the theme. Neo never got to 2850, never even came close. Zoom was about to explode, right? There's no bigger beneficiary to the whole stay at home movement. Zoom, I really liked it at 543, but it gapped up above. So, excuse me, 443, so gapped up above and it started going, right? So it traded 450, it went to 454 and then 554. And then next thing you know, ramp about five bucks. And then next thing you know, Microsoft. They came out, I think it was Microsoft Teams, if I'm wrong, please tell me. They came out with some really, really huge search in users and obviously if Microsoft gets into your space, yada, yada, yada, this thing's gonna get killed. Again, the good news is Zoom is still above the trend line and until it valid, it violates the trend line here. Again, it's gonna hold this level here for now, for now. But again, at least again, we're using our heads, we're thinking, I don't wanna use the word thinking outside the box, but at least we're thinking. And again, this is type of a scenario that forces us to sit down and be adults. Again, here's another stay-at-home name. Again, not the biggest move in the world, but again, in this type of market, beggars can't be choosers. 492 needs to build. So some weird $500 call buyers come in. Here is Netflix and I know some of you guys took a red degree and said, great job as well. But here is Netflix, here is the whole 492 and nice spike. You know, ramp about $3. Again, was it the biggest move in the world? No, but again, we're not looking to reinvent the wheel here. All we're looking to do is get from point A, point B, collect data, get the hell out of Dodge, start again for the next day. So nice pop on Netflix as well. Yeah, so yeah, so TDFC 230, 231, next supply stopped right at 231. So that's it, that was literally the day. Right now, technically, if you look at the market, you know, it looks funky, right? It looks scary, but again, can the Qs confirm, you know, that 271 level tomorrow and go down another two to four points? Sure, absolutely. And again, if we get a gap up tomorrow and any weakness that they confirmed that number, then again, yeah, that is the pivot, right? That is the confirmation channel that will take out and send the market low. And now again, if we gap lower tomorrow and we start and we test this 267 level and we hold, then yeah, we could get a dead cat rally bounce tomorrow. It's very, very possible. Again, all eyes tomorrow on earnings, big tech heavyweights, again, Amazon, Facebook, Twitter, Google, Apple, right? Starbucks, Moderna, all that stuff, right? All that stuff, all that good stuff. So again, just relax. You know, if you're a new trader, just relax. All this is gonna pass. This is a crazy market right now. Again, if you're an experienced trader, is this the market for you? Probably not, right? Probably not, but what you can do is always watch screen time. Again, you don't get screen time back. Watch the order flow and just watch scenarios that years from now, you gotta look back and say, oh, okay, that's what that idiot was talking about. It's very, very important to store it into your mental relatives. Guys, have a great night, everybody. Stay safe, God bless, and I'll see you all tomorrow.