 Testing, testing, testing. Let me know if everybody can hear me. This gives me a high. See some familiar faces today. See some new faces. If you have any questions, you can just plop it in the room. I know my person that can see the questions. I won't answer the question out loud. Is anyone here? Yes, I am here. Starting a few minutes late today. I was on a phone call. It's getting a little, little crazy out there again, people with this COVID stuff. And obviously the market reacted to it today. We sold off pretty hard today, specifically later in the day into the afternoon. And there's a White House press conference on shortly. So it's going to be an interesting time to trade. 2020 I thought was an interesting time to trade. I decided to talk about shorting as what we're going to talk about today. That's what I focus on. That's what I do. But now more than ever, I think it's important to learn how to short. I think a lot of traders, a lot of day traders do not understand how to short correctly. I don't know why. People do prefer to go long. While the market has been bullish and it's been running up and even the diamonds today made another brand new all-time high, even though it lost it. It lost it today. It didn't hold. People do prefer to go long. I guess the concept of going long is easy for people to understand. But in general, I prefer to short. This does not mean that I don't go long. I do go long. I will go long. Quality longs. But I mostly look to short. I'm still looking for quality. I'm looking for quality shorts too. But I prefer to short because shorts happen fast and you can make a lot of money shorting. Why? Because when panic comes in and sets in, it happens quick and fast. And again, I feel like I have a niche because I know how to short and I'm good at shorting. Okay? I think this is me. Everybody's probably seen me on TV somewhere. In fact, I'm on Ameritrade. If you're around Wednesday night, I'm on the show at five o'clock on Ameritrade. But if you have questions after today, you can email me and Melissa at thestockswish.com or call me at 929-3200 Gap. You can follow me on Twitter, Facebook, YouTube or Skype. So we're getting into really the second half of 2021. Okay? So we went from January through the end of July, which was pretty much Friday was the last trading day of July. Now today was the first trading day of August. We're not starting out so good in the market. We had a very bullish period, really, when you look at the first seven months of the year. It was strong. Marco was strong. We recovered from COVID, you know, 19 months ago, whenever that drop down was in March of 2020. And if you're just starting trading, you've got five more months left to go. And if you've been trading all year, you're not on pace and on target to make your goals for this year for 2021. You have to stand back and take a look at it and say, wait a minute, what do I have to do differently? Why isn't this working? Do I not know what I'm doing? Is the strategy I'm doing not right? You have to think about that because the reality is if you would make money if you did a strategy that works, unless you had terrible, terrible money management. Now some people do, don't get me wrong. Some people have horrible money management. But with good solid money management and a good strategy, you should be able to make money in the market in any market conditions. I think people have trouble with the consistency. They'll do one strategy here to work some days and then the next day doesn't. Then other days, they'll do another one the next day to do a different one. I only do gaps. That's what we're going to talk about today. Like I said, I focus on the short end of it. For me, when I started trading, I made a lot of money on the short side. But then again, I didn't know how to find the best short. So it took me about three years to develop my system. It was taking five steps up and two steps down and 10 steps up and three steps down. It was a back and forth until I really figured it all out. And now that I know how to do it, I mean, there's no looking back for me. Every year, I continue to get better. Even now, I really call this market very well. I thought we would not continue higher today, even though we opened gap up this morning, which if I have time, we'll talk about at the end. But the reality is once you start on a path that takes you where you need to go, there should be no looking back for you. Should be no falling down to the bottom. Okay, even though you might take a step or two back, whether you have a losing week or a losing day or a make a bad decision or something, you have to still keep pressing forward, press, press, press, hardcore press. And I feel like, you know, we need to do that individually when we go through hard times, whatever they happen to be, whether it's your career, your family, your personal life, financially, whatever. But trading itself is a skill. It's like juggling. I always say I can be perfect for the first 30 minutes of the day. That's the time when I'm getting up and I'm trading and I'm analyzing the gaps and I'm reading the gaps and I'm looking to get in. So I'm looking to get in my shorts within the first half hour of the day between 9.30 and 10.80 Eastern Time. That'll be the time that you would want to be focused on to be able to be in my live trading room if you want to be in and get the day trains. Now I also have an options newsletter too. Those trades are sent via email. I do calls, inputs on the options letter. But, you know, like I said, I do prefer the shorts. So a put is a short and an option. And I prefer the shorts again, either way, options are day trades because of the fact that I like the idea of making money fast, which shorts happen quickly. Again, today's a good example about the way the market fell today once it started breaking off. So when you can get good at something really, really, really, really good at it and you repeat it over and over, it is like juggling. It is like a sport. It's like if you were like Olympics, Olympics is going on right now. I haven't really been watching much of it to be honest with you. I just have not been into the Olympics this year. But in the past, I used to love watching the Olympics and I've watched a lot of it. So you just, you have to really good at a strategy. And I think people jump around because they're desperate for something that's like the beyond all, you know, you will find trades even with me and you come with me, they do not work. Some trades I take lose. But that doesn't mean that overall you're not going to win with me because more trades that I take win than lose. So you have to understand that process and you get better and better and better over time. We'll talk about a chart in a minute. I called a trade and PayPal. There was one of the people, I'm out of it, but one somebody actually held in was still in it today. I don't know if that was dumb luck or whatever, but he's new and he's kind of finding his way and he did a very, very, very good job actually folding the trade because he made more money today holding it than getting out of it Friday. So anyways, as I was saying, preparation, learning what to do, the prep today leads you to the success tomorrow, where you want to be. That is very important. What are you saying? You were watching the Olympics, Kathy? Now, I used to be into it. I'm just not into it this year. I don't know. Either I'm distracted by things or because there's no fans or whatever, but I used to love it. Anyways, focus, preparation, that really counts. And that also being positive. And this is challenging, so challenging right now. You're being confronted with things that you never had to deal with in your life. The possibility of more lockdowns again. Look at what's happening in some of the other countries. They're rioting in France and protesting. You have to think positive about your trading, positive about your life, positive about money. I know it's hard. I know it's hard, especially hard if you have a losing day, but you've got to take away the positive to move forward. If you have been trading in the past and you've lost money in the market, you have to get over it. I mean, if you think about it, think about it, think about it all the time. All you're doing is dwindling on the past. You've got to think about the positive aspects of what you're doing and your life. It's the only way you're going to move forward into a better situation. And I think it's important to have goals. Where do you want to be between now and the end of the year? Where do you want to be between now and September 1st? Where do you want to be between now and next Monday, a week from today? How much money do you want to make trading this week, between now and Friday? If your goals are big, you say, oh my gosh, I want to do this for a living. I want to make $20,000 a month. I don't know where to start. I'm all over the place. You have to break it down. I always say, chunk it out. Chunk it, chunk it, chunk it. It's not about just always having one huge big trade. You take a trade, you make money, you get out. You take a trade, you make money, you get out. That is what is important. It's the idea of getting somewhere with it. Because really success is a journey. I wish I could say, you know, like we had a couple trades we did in Nividia. There were huge, huge trades. I don't have trades like that every single day. I wish that I did. You never know when the big ones are going to come, but you have to be active and you have to be participating. You have to be here and with me to get the big ones. So have a plan of action for six months out or five months out to the end of the year. And then where you want to be by January 1st, 2022. And where you want to be a year from now. I think it's fine to have big goals. I encourage people to have big goals. Just be realistic with your expectations of the timing of when you're going to achieve those goals. Everyone wants financial freedom. Everyone wants so many different things. I understand that. We want nice things. We want a nice life. We want nice homes. We want nice cars to go and fabulous vacations, all of this. But really ultimately this idea of working for yourself and providing for your family and having nobody to rely on but yourself is more important than ever right now in these uncertain times. And I mean, I don't know where it would be right now if I worked for somebody else with all of the mandates and everything that they're doing in New York or even last year. It's really starting to get really insane. And the idea that luckily I do work for myself, I feel so, so lucky and so, so blessed. And I know how to train and the market will always exist. If the market didn't shut down, when the market sold off and fell right when we shut down last year with COVID, it ain't going to shut down this year if they shut us down again people. It won't. So the market is just there. It's going to be there to train all the time every day, 9 30 to 4, come heller high water up or down, it's there. And if you know how to read it, if you know what to do, which I do luckily, you can take advantage of that and use that to your benefit, to profit. Okay, that's the whole point. That's the whole reason of doing this. Even though it's fun, we have to make money. Ultimately, that's the goal. So let's talk more about shorting. So when a stock falls, okay, we look to short it, because if the stock price is $10 and you shorted it 10 and it drops to nine, what are you gonna make? You're gonna make a buck. So if you had 5000 shares and you shorted it at 10 and it dropped to nine, how much would you make? $5,000. Boom. Could happen in five minutes, could happen in 10 minutes, could happen in a half an hour, could happen, could take all day. But the reality is that it's this domino effect really when you have shorting because it goes poof and it just falls like a spine off a cliff, kind of like the market. In fact, let me just pull up the market here. Let me, I'm going to take this off here for one second and I will just put the market up because I will show you. You see here what we did here. Actually, I'm going to go back here where we started breaking it earlier in the day. So we broke the low of the day here, right 1130, 1145 fell really hard. This is the spy. Can everybody see it? Boom, boom, based out, boom. So this is domino, boom, knock the dominoes over, based out, more dominoes knocking down. You see that? You're not really doing anything here tonight. Just kind of flat. So this is selling, this is selling. So you can short or you could have shorted this. Okay, for profit. Here's the red bar. This is the daily. Okay. All right, let me get back. Hold on one second. So why do shorts work? Why do shorts work? They're profitable because they happen in big moves and fast and why do they work to begin with? Because of panic. Because when you're long something, say for example, you were on the market today and it starts to sell off, you're like, oh my god, oh my god, now what do I do? Should I sell? What should I do? You're thinking, thinking, thinking, you know, should I sell? Should I do it? Should I get out? Should I exit? What should I do? This is if you're long. Okay. And there aren't people long. Why? The market's been rallying, the market's in an uptrend. The market's been higher. You would have been long if you wanted to make money. And there are many, many people that are long in the market. But once the selling starts to come in, again, like I just showed you on that chart, it can happen very quick and very fast, just like a domino falling over, boom, boom, boom. So the thing is that when you're looking to do a short in the market, you want to play on the momentum because as an individual trader, that's how you're making money. You're making money, getting the momentum, playing the momentum to the downside. Okay. So it can happen quick because people panic. So shorts work because people panic. Now this is, I clip this like a quarter of, I know I guess it was 10 at four here, where this is the diamonds. Okay. So the panic set in really a lot today. Why? Here was yesterday, market gapped up, rally made a new high, started to sell off, broke the low, fell, fell, fell. This red depicts selling. Okay. And this is panicky. Why? We just made a new high. So this is really panicky here today because everybody thought we were going higher and we made a new high and everybody thought everything was fine. And then it wasn't fine. And then we closed down here. We probably closed up the loops. Okay. Now what do I do? I look at gaps. So today was example of actually have a gap up. So what is a gap? A gap is just the close in the open market closed here on Friday open here on Monday morning. Here's another gap down market closed here and then gap down and open here on a different day. This was Friday to Monday a week ago. This was Friday to Monday today, Friday into today. So this was a gap up. This was a gap down. So again, you had panic come in today. And you had panic back in here. Here's another guy over here. This was back middle of June. It's not close to your gap down open rally fell. So again, four clock, the market closed at one price then at 930 and open at a completely different price right here. So you have gap downs and you have gap ups. But again, this was a short. You would have made money shorting this it fell. This was a short. You would have made money shorting this it fell today was a short. Okay, crazy as it sounds. We were already short this before this fell today. I anticipated it. I anticipated it. I predicted it. Any questions here so far? Now as far as again, what's going on? We started talking about this at the beginning of the lecture. What's going on with COVID? What's what's going to happen to the market? Are we going to shut down again? Everyone wants to know these answers. Unfortunately, we may not know all of these answers right of ways because we live in a world where things are changing every second, every minute, every second, every day. And that's why training is important to be active and to know how to do both longs and shorts, but also to book profits on what's called volatility. So volatility is a good thing if you're a trader because you can take advantage and profit when there's something like a market crash, for example. Now, do I think that market's going to crash tomorrow? No, I'm not saying that. I don't think we're going to shut down tomorrow. But I think if we do have a second lockdown that the market will tumble just like it did in March of 2020, I don't know when that's going to happen. I don't know if that's going to happen. But I said a couple of weeks ago, actually it was a couple of weeks ago when I was in Ameritrade. I'm going to bring this up again Wednesday to Nicole. It's a 50-50. She disagreed with me. She said more like 90-10. And if you've been watching the news at all, you've got to know that it is more like a 50-50 now because they keep discussing it. You have to take profits and stocks that you're up. And you have to take profits and stocks when you're down. But the reality is you need to be aware of what's going on in the world because it can affect your positions, particularly if you're in positions overnight. Now I do active day trades when I'm in and out in a couple of minutes, but I do do options where I'm in stuff overnight. Now in an option, you have a fixed risk. You cannot lose more than the cost of the option. So that's a positive thing. That's a positive thing. But if you're in swing trades and the market completely goes against you, you may have an unlimited risk. So that's something to be aware of if we have some kind of situation again with another outbreak or lockdown or whatever. Well, let's get back to shorting. So again, why does shorting work so well? Shorting works when you have panic in certain stocks or the market like you had today. That allows you an opportunity to short and get the play through. And most traders do not know how to short. Why? I personally think, and this is just from having taught people over the years since I've had a stock switch business, people are sort of a little bit confused about shorting or scared to short. You don't really have to understand the whole conceptually about shorting necessarily. You're borrowing the stock when you're broker, then you're giving it back. You know, if you want to call the broker and have them explain it to you, fine. You're never really buying and holding the shares even when you buy stock as an equity trade and you're giving it back and selling it before the end of the day is an equity trade anyways. When you're trading on margin, you're trading on margin. You're not buying and holding the stock forever anyways. You're still doing these as quick trades. But as far as shorting goes with people, you make money and they're quickest, way easiest way to understand it when something drops. It's the end of losing price. And you say, oh, that's bad. We're making money doing something that's negative and it's bad. It's bad. No, this is the way of the world. It's good to have selling and shorts in the market. It would be, it would be unhealthy for the market if they stopped allowing shorts. That's never going to happen. You'd have things going up forever. That's not realistic. Okay. You have to have shorts for the health of the overall market. Things wiggle and jiggle. They go up and down. That's healthy. Okay. So don't be afraid of shorting. You can learn how to do it. The fact that many people don't know how to do it. Well, like I said though, really can give you a niche if you want to learn how to do it well and correctly. Okay. So there are different types of traders. There are many, many different types of traders for today. We're going to focus on day trading, even though like I said, I do do options and you have to ask yourself what type of trader are you? And what can you afford to risk for trade? Are you interested in day trading or you're interested in long-term swing trading or options? What are you interested in? How much can you risk? What size account can you open? You need to know that too. It's important for you to know which category you fit into first and then again, like I said, to set the proper expectations for yourself. Before you even begin to risk anybody in the market at all, you should have a strategy that you follow. Although it is not necessary that you have a mentor, I definitely think it's helpful. And again, I pride myself on really trying to do my best to help people do well. I just did a mentoring session on Saturday with someone who has been on the newsletter for about two months on the options newsletter and he had some questions and it was just a short quick session and he said it was really, really helpful on how he thought it was, he was just so surprised that I was willing to answer his questions and help him. I think it's important for people to do well. I want people to come to me to do well. If you sign up for the class, I'm going to do the best I can to try to help you learn it. Okay? I think a lot of people are interested in taking trades and making money and that's all well and good and great. But if you don't understand what you're doing, if you don't actually take a class of mine to really fully understand grasp of concepts, how are you going to ever do it if you don't have me to call the trades for the rest of your life? It's better if you learn it. It's it's a better for you to even learn it now, even though I'm still here for you to do it because you're risking your own money when you train. Okay? So it's really, really important when you're trading to fully understand why do I think this is going to fall? Specifically if you're going to risk, you know, a couple thousand dollars in a trade. Any questions there so far? Now, when you're trading a margin account, okay, your day trading, if you're day trading, you're trading on margin. Okay? If you go to a retail broker that's different from a prop broker, you could have a four to one margin at a retail broker or a ten to one margin at a prop broker. Okay? When you're day trading on margin, you have to be out of your trades every day by four o'clock. You're not outright buying the stock and holding it overnight. So you can trade on margin and this isn't scary or shouldn't be scary for people. You don't need the full cost of the position and cash to take a position short or long in something just so you know. It's called buying power. And again, you get the buying power and that allows you to take it on margin. Everyone, every trader, even big traders trade on margin. The Golding App system, which is my system, which I'm going to talk about here a little bit, can be traded with any size day trading account. If you want to open up an account with five thousand dollars, you can trade it with five thousand dollars versus twenty five thousand. You can trade them with both. You'd be at two types of different brokers. Okay? But I really think the most important thing is to learn the system first. You learn it, then you can open up an account after the class. Now, if you already have an account, then you can start trading right after the class. Okay? And again, the way that I do my short sustained trades and I do options as puts. But I don't trade cheap stocks or with no volume. I don't trade penny stocks at all with my system or in the live trading room. I think they're junk. And I think it's very, very important to trade stocks that have a good significant amount of volume in them to be able to make money. Okay? Now, if you want to trade options and you do not want to have a margin account, you can have a cash account and you can open up a cash margins account with with as little as two thousand dollars. Okay? Now, your risk should be associated again with the cash equivalent of your account, your total account when you're choosing your risk. Now, for me, I trade from home. And like I said, this has been very convenient in COVID. If you're someone that wants to do this and you really want to get serious about it and learn it. And if you're like six months from now, want to be doing this full time, it is a nice job from home. If you work right now where you have to go into an office, you have to figure out how you're going to manage to be able to do the day trades in the morning or maybe from your job in your office for just a half an hour. So we gain trade between 930 and 10am Eastern time. That's when you have to be in the live room to get the calls. If you want to sign up for the newsletter, you don't have to be anywhere. You just have to be somewhere where you can take the trains or you call your broker to place the orders. They come through a newsletter. You do not have to be at home. That is for the options. They get emailed to you. Okay. Thanks for the information, Kathy. And if anyone wants my contact information, Kathy can plop it in the room with my email as well. Thank you. So getting back to what we're talking about, about trading and making money and overall volatility where we're at. I think today was probably a very hard day for many traders. Their expectation was the market would go higher. It didn't happen. That's not what I thought. But I think today a lot of people got tripped up. They were buying the dip in the market. They were buying the trend of the market and many, many stocks that were up Apple. I mean, I could name 10 things today that were up. So today was probably not a very good day for a lot of day traders. Actually, we didn't do anything in the live trading room today. I didn't really like any shorts. But I did call PayPal even though I didn't do it. Some people did the PayPal in the room, which continued to drop. But when you have volatility, it scares people. For me, I think it's good. Tomorrow, I think we're going to have a very good day. But I don't know where we gap in the morning. I don't know if we gap up and I don't know if we gap down. But every day when I get up, I look and see where the market is to make a determination. But there's a lot of earnings out tomorrow morning. So I think we're going to have a good day. Right now it's earnings season. What does that mean? Stocks and companies report their earnings during quarterly earnings season, and there's a lot of them and they usually gap. Again, I don't know if they're going to be something I'm going to short or not till I see it. And I apply my system, which is a rating system, to determine if I'm going to short it, again, which I'll talk about in a minute. But there's so many things reporting that has high odds that I will find something good tomorrow morning. So I have a focus and a clarity when I get up every day. I get up, I scan for stocks, and I determine then which one I want to trade or short based on my rating system. I just apply the system. I have a 26 point rating system. If they rate per my system, I short them. If they don't, I don't. The system itself gives me conviction to trade in any market, bullish or bearish, volatile or not, and make money. And I have good results and can read the market well like today because I use this system. I use the system and I do not deviate from it. So it's the knowledge, the knowledge from the system that helps me be successful. Now we were talking earlier about what is a gap? Again, what do I focus on shorting? What do I focus on gaps? One strategy. This is Boeing being a stock close to your gap down. We were doing this, we were ready in this before the gap down, but I want to show you this was back from July. So the stock close to your one price and open at a different price got up in the morning, rated it rated as a short fell. We also did it up here. This is another gap down stock close to your gap down rate as a short fell. And then you see the nice beautiful sell off of this hat here from the original gap. So we did a bunch of shorts in this. We did some day trades. We did a bunch of different puts. It was a nice drop off. Okay. This fell today with the market and everything else in the afternoon. But I focus on one strategy to make the money that I'm trying to make every single day. And again, this is about focusing on the good ones. I just got done telling you I didn't do anything today. Why? I didn't see anything that was good so that I didn't do anything. Sometimes that's better than losing. So then that's what you do. You have to follow some kind of rules. But for me, I'm always looking at that first, first part of the day between the third, first 30 minutes, 60 minutes of the day. Every single day, that is what I'm focusing on. I'm trying to get in and out of my trades in that timeframe. Again, that gives me the focus too. Any questions here so far? Quiet group tonight. Talking about day trading. If you want to day trade, you're flat. Like I said, every day by four, there's no overnight risk in day trading. So this idea of shorting shouldn't scare you because again, you're not short the stock in a day train for weeks and months and years. You're in, you're out. You're in, you're out. Okay. Sometimes we're running out, like I said, in seconds or minutes, but definitely we're out of it by four o'clock. And if you're in an option, which is a put, which is a short, you have a fixed risk. So that's like the stop. It's the insurance. If you take an options trade and it costs a buck and you take 10 contracts, what are you risking? A thousand dollars. You can't lose any more than a thousand dollars, no matter what the stock does. Okay. But day trading is not investing. This is a way of producing income over and over and over again. Get it. Book it. Take it. Take the trade. Book the trade. Take the trade. Book the trade. It's a process. You're taking money out of the market daily and fast moves. And one of the things that most day traders forget, or I don't know, they just don't even know anything about is that this isn't investing. I think sometimes again, this goes back to the idea of holding and buying and how people prefer to go long. That's not what day trading is. Day trading is active. So you don't have to think this long, long, long thing all the time. Again, shorting gives me a niche. We're not investing and you're not wishing a will on a company if you wanted to fall. This is healthy for stocks to fall at different times. We're just getting the quick moves in and out, like I said. And again, we're playing on the overall momentum. Now, if your goal is, like I said, think of where you want to be between now and January 1st. Okay. Break it down per month. Break it down per week. Break it down per day. Break it down per trade. Whatever you have to do to get it situated for yourself. And I think this less stressful for people too. I think that when, again, we're living in these uncertain times right now, it's easier for people to just say take it day by day. Just take it day by day. Everyone's asking, are we going to have a lockdown again? Are we not going to have a lockdown again? You just got to take it day by day. You prepare and then you're ready if we have another lockdown. And if we don't, great. So it's like we're trading. You get up, you live every day, you look for the gaps, you rate the gaps. If you have a good one, you take the trade, you make money. Don't worry about trying to make 200 grand a year right now or more. Don't worry about trying to make 20,000 a month. Just get up tomorrow, do the right thing, book it. Do the right thing, make the money. And then all of a sudden a week of goodbye, two weeks of a buy, a month of a buy, and you'll have your goals in. Okay, you will be there. How? By consistently taking right actions. We're just in a time where you just, you know, you can't be worried about the future every second. You'll drive yourself nuts, quite frankly. And there's no point in doing that. And with reference to trading, that's why some days you just can't do anything. Okay, you didn't waste today. If you didn't join me today, could work on your trading plan, study your charts. Any questions here? This was the PayPal that I was talking about. Beautiful, beautiful call by me. Love this gap had a thousand percent conviction in this sucker. We day traded this here, we day traded this here. I did a put, I got out of it Friday, I should have done 10 more. I mean, like I said, one guy's still in it. It was a very nice trade. This closed here and gapped down, rallied, and it was a short. And then it gapped out again. This was Friday, fell, gapped out today with the market and fell again. So again, I really just didn't want to do it in today because it's really technically was a gap up, but I knew this was lower. But there were some people in the room that did it and this continued. And I don't know where this actually closed today. I took this at 315, but this was a nice short. And this really depicts here again what we're looking for, which is selling and the price dropped charts strong. That's true. PayPal is in an uptrend. You can't deny it, but this was a beautiful gap. Again, what is a gap? It's a difference between the close and the open. I got up in the morning and I used my golden gap rating system to rate this gap in the free market. And I determined that this price would keep going under lower down. So that's why we did shorts in it. No, I didn't do this in the room, but I talked about it and I called the trade and said, if you want to do this, but I'm passing, I did do this in the room Friday and I did do this in the room Thursday. It's not that I'll never do something three days down, but I passed on this today, but I called the trade in the room for anyone that wanted to do it. I did do it Friday and I did do it Thursday and I did a put in it Thursday, which I exited Friday. That was a good trade, but it kept going. It kept going. I called the 280 puts. This was a lovely, lovely call. But I sometimes will say, I'm not going to do this, but if you want to. So, you know, again, I'm trying to find usually something new every single day. This wasn't new today, to be honest with you. And the new stuff today, there was a bunch of new earnings today. I did not like them. I did not like them. And again, tomorrow, there's a lot of things that are new that I will look up and see what we will do. Baba is out tomorrow morning. Something else that's a big name is out tomorrow morning. I forget. Lily, Lily's out tomorrow morning and Baba. Those are two big names. I don't know what they do, but those were the new things that I'll be watching tomorrow for sure. But anyways, this depicts what? Selling, price dropping. So on the day that this opened here at 285, I did the 280 puts, took until the second debt to get to the strike and drop. That's fine. That's not a big deal. I called it for the expiration for August 5th. Like I said, I mean it's 6th. Like I said, you can still be in it. But this was a really good profit on a Friday. But you know, I have to email this guy, Steven, and see if he got out today or not. He made more today by holding it. You can hold stuff if you want. I do think it's important though to take profits. Anyways, here was the day trade that we did on the actual first day in the PayPal. Oh no, this was the second day. I'm sorry. This was Friday. This was Friday's trade. I'll show you this in a minute. I'll pull up the one minute. Stop was 281.30. Entry was 278.75. This was Friday's short in PayPal a day trade. Now, this is an advanced risk. Shares were 1100. Risk was 2805. Exit was 276.90. That was a fast exit. This kept going. Do I regret cutting out of the Friday? No. I really don't. I like to be running out of day trades fast, but this really just got crushed on Friday. Profit was 2035. Let's look at the chart here. Hold on. Let me just pull this up because I didn't put this in here. So Friday's, this was a nice call. It's probably going to get to 270. Anyways, where was I? Friday. Anybody did this today? I said you can do this if you want. I don't even know if anybody did. I'll have to ask tomorrow. So we shorted this. Boom. Got the drop. You got to get out. Rally. Got the drop. Again, look where it went. It went all the way down. I did not hold this until 1130, but it kept going. It broke 275 and it almost got to 274. But again, I like to get the quick ones in, out, in, out. 15 minutes, half an hour. Sometimes we're running out in five minutes. This backed up, but the stock held the trade. It was a nice call. And then I got the drop. That was Friday's day trade, which I called live in the room. I think I taped the room Friday. I haven't had time to upload it, but if you're not subscribed to my YouTube, you can go to the stock switch on YouTube and subscribe. Let's go back. Anyway, that was a nice one, but that kept going too. So for me, the rating system is how I picked Paypal. I rate it in the pre-market, in the morning, when I get up tomorrow, when I'll get up and I'll rate Babbo, Lily, anything I want to rate, I'll rate. And then that helps me determine if I want to trade it, if it's going to be a good short, or if it's not going to be a good short, if it's going to be a long, okay? Does every trade I take work? No. It's about odds for me, high odds. I try to put the odds in my favor. The odds were my favor with Paypal. It gap rated per my 26 point system. Good. It was going to work. Okay. I have to take trades where the odds are my favor. I didn't think the odds were my favor today. Why? Market was bullish. Market was up. Everything was up. I knew it wasn't going to hold. And I thought, well, if it holds, it holds, but I can't go long here, but I can't short this up market. But the reality is you put the odds in your favor. That's the times that you need to be trading, not every second of every day. That's the other reason why I don't trade all day at 4. I try to get out in the morning quick, fast, book it. You have to consider what's going on in the world. What are the things that are going on over the planet? You're in and out. Okay? It's a nice job because you don't have to work six and a half hours a day. You don't have to work eight hours a day. So take the money and book the money when you're up. That's what you should do. It's the odds are not in your favor to make money from 9.30 all the way to four o'clock, trading every second for six and a half hours. Those odds are not in your favor. Keep the odds in your favor by doing quick trades in, out, in, out, taking them, following the strategy, following the momentum, following what's happening. Using the system, using the criteria, staying focused. Okay? So this was another one of these ones here that the CCO was a carnival cruise lines had six people. I guess it got COVID last week, the stock up down Friday. We didn't do it. I didn't even see this to the weekend or it was like Friday late, unfortunately, but this wasn't a good gap. If I had seen this Friday, I might have done this too. This closed here Thursday, open here Friday fell, fell today. Again, continued. But anyways, this guy here was the Friday play. You could have done the put in it. You could have day traded it. Again, I did the PayPal and I didn't even see this until too late, but this was a nice short wide panic. Six people got sick on the cruise lines. I don't know if anybody remembers what happened. I haven't seen a cruise ship, which I live right along the Hudson River for almost two years now. I can't tell you the last time I saw a cruise ship, January 2020. I mean, it's like I used to see the cruise ships in and out every single day. Tons of them so beautiful to watch the cruise ships, so picturesque, come up to the port, gone. Now I think they're back in some ports. I know they're back in Florida, but there was terrible stories, terrible stories with the COVID, with the cruise ships, people being quarantined for weeks and months and it was a disaster. So to have a few people sick on the ship last week, sent this stuff really. So sometimes you get a gap for news. Sometimes you get a gap with the market. Sometimes you get a gap. That's just a gap because it's an earnings gap, like I said. Okay. Anyways, let's talk about another day trade we did. This was back in July. This was the Mew. Stock closed share gap down, fell, boom. We've shorted it. Here was the short. We've shorted it. 81.20 was the entry, shares 2600. We added to this. I loved it. It worked. 4,000 shares, average price here was 81. And I had an early exit on this too, but it was a great trade. It was a lot of money. Right under $80 profit 4,200. Now let's go back and look what this Mew did. I just want to show you. Oh no crap. That wasn't that day. No, that was not that day. It was this day here. I think we did do it that day too though. I think we did do it that day. That trade is this day. It was this gap, but I think we did do it there too. I just was talking about in reference to gaps. We're shorting. Kathy I'm probably going to go just a little bit over here to give you patience with me. I see it's 5.27. Any questions here at all? So one of the points I'm trying to make today is you can make a lot of money shorting if you know what to do. And the nice thing is again that shorts happen very quickly and you can do putts. If you want to do options, you can do a put. A put is basically a short as an options trade. Same concept. Now if you want to do the active day trades, we're trading them again share size quantity on a margin account. So I size every trade differently as far as the quantity of shares because the difference between my stock and my entry is varies from stock to stock. Something like new is going to have a different stock than something like for example, the diamonds, which is more expensive. Bigger stocks for bigger higher price stocks or lower stocks. Like if I had done the CCL, that would have had a baby stock. That was a bit short Friday. I missed it, but it probably had a 20, 25 cent stock. So I would have been able to take more quantity of shares in the CCL cheaper than something like the Mew. I'm sure everyone knows this by now. I live in New York. You don't have to live in New York though to trade. You can be anywhere in the world. You don't even have to live in the United States to trade the US market. Again, very advantageous. So you can be anywhere in the world. All you need is internet and an account. You need live charts. You need an account with a broker to take the trade. If you're day trading, you need margin. Otherwise, you have an options account. If you're doing the options and you have to have that account, set it properly to do options. But it is not a 9 to 5 job. Like I said, I'm in and out of my trades very quick, 30 minutes, maybe a little bit longer, but I try to get in and out as fast as I can. I have goals and I set my goals for myself. Although sometimes I could hold things longer like I didn't hold the PayPal. I thought Friday wasn't an exit for PayPal. But now I had the money back in my account, booked the profit going into the weekend to do another trade tomorrow or whatever I want to do. So remember, if your goal is to make $1,000 a day, when you're up $1,000, if you don't book it, there's no guarantees that you're going to still have the $1,000 in there by tomorrow. If you're doing an option or even in an hour, if you're in a day trade, if it reverses against you. Today's an example of that. People were along the market, then it reversed against them. The market was green this morning at one point, then it reversed. If people didn't book the profits this morning, if they were long, it reversed against them and they lost the profits when the market fell, if they didn't book them, okay? Anyways, I've been talking about gaps the whole time. I focus on gaps. Why? They have big moves. And again, I'm doing gaps and I'm looking for bearish gaps. And they're volatile, which makes for good trades, big moves. I pointed out those gaps in Mew. They're just big fat bars that you can trade in. Any questions here so far? Boeing had a fat bar. CCL, that was a fat bar for that stock, that stock, that was a decent size bar for CCL. Now, as far as making money again, I tell people to start out small. Even if you have big goals, start out small. It's better to do that to make sure that you understand what you're doing and then work it up over time. Because again, emotionally, you have to be able to do this, not just have the money to be able to wait for a trade to go. Some people killed the Paypal and got out of it because they couldn't wait for it to go the second day. They made money into the close on Thursday, a couple hundred bucks, but the bigger money was when Friday or today. So you have to assess your look at your goals, look at your knowledge, how much do you know? Look at your money and look at your emotions. How can you handle the stress of holding something, for example? Waiting for it to go, being done in the trade before it goes. Anyways, I focus on trading in the first half of the day. I've been talking about this. If you're interested, you can email me at melissathestoxswitch.com for a trial for the rest of the week. Kathy can help you get in. The next class is this weekend, August 7th and 8th. I already have people signed up. It is a good time to trade with me. I've been very focused. We didn't do any day trades today, but I think we've had one loser in three weeks. Every single day trade I'm doing is basically working. Maybe I was a little bit conservative today not doing the payback because it went, but I've been on quite a roll. One of the nice things about trading is again, you can work your own hours, you can go vacation when you want. There are benefits to trading and then there is what? There's a commitment involved. You have to go through the process, fill out paperwork, open up an account. If you want to sign up for my class, you have to fill out paperwork. You have to pay this a cost. My class is $69.99. It's $7,000. It's not cheap. You have to take a whole weekend to learn and be in the classroom and be there and ask questions and pay attention. There are things that you're going to have to do. It's a commitment, but it's well worth it if you understand what to do and well worth it to be part of my group. People have been doing very well and I'm happy for that. Pip Daddy, I see you here. Pip Daddy, did you stay in PayPal or get out of it or what did you do with PayPal? Pip Daddy is on the options newsletter. Did you kill the PayPal on the first day or did you get good profit out of the PayPal on Friday or Saturday? I mean, that's already today. Faye, I see you're typing a question. You're going away. We'll be back on the night. Okay, earning season goes this whole month. Then we have a lull around Labor Day and then the last quarterly earning season I think starts end of September beginning of July. I'm not beginning of July. End of September beginning of October. I don't even know what month it is anymore. July, August. The classes this weekend, August 7th and 8th, the bullish class though is next week during the week, which is Tuesday, Wednesday, Thursday. It's rare. So the bearish classes this weekend, Saturday and Sunday, the bullish class I'm doing during the week Tuesday, Wednesday, Thursday, next week, which is the 10th, 11th, and 12th, I think. Yeah. Anyways, you're the one that has to take the right steps to get where you want to be. I think a lot of people don't understand the importance of learning. I think that we live in an environment where it's me, me, me, I want everything tomorrow. I want everything today. I want it yesterday. There is a level of commitment, but if you're willing to do it, I'm here to help you and I want people to make it. And I think that's important and I'm very good at what I do. So, you know, I would say that I have a higher level of intuition as far as trying to hone it down when we're looking at two or three things that I happen to pick the right one, or if the market's rallying up and I say, no, don't go long this. It doesn't look good. And then we fall off the planet like today. So, those types of things come from experience. How are you going to get the experience trading with me? That's, I mean, that's all you're going to get. You're going to do the class, you're going to be in the room every day, or as many days as you can. And then you get the experience and you do it. And then you start to feel more independent for yourself once you're doing it, doing it, doing it over time. And you're really like, wow, I really can do this thing. It's really coming together. I'm really meeting my goals or I'm exceeding my goals and I'm getting where I want to be because it's important to have goals. I think that helps us get somewhere. You might be able to do the other one. Okay. Yeah, just email me, Faye. So, what is the class? What is the meat and potatoes of the class? What are you going to learn in the course? It's a 26 point checklist. It measures gaps by rating them in the daily chart to find stocks to trade that have a high probability of directional bias for the entire day. A big move on the day. That's very important for me too. Early confirmation of the bias. I've got to see it early. And the move between 930 and 10am eastern time. Precise entries with follow-through and a good risk to reward target potential. You know, you want to be able to make money. You don't want to risk 25 cents to make five cents. You want to risk 25 cents to make 25 cents or 50 cents if you can. As far as share size, it has to be based on the size of your account. Same thing with the options and you need to be consistent. Kathy, I'm seeing Pip Daddy drop in and out. I asked him a question. I don't know if he was trying to type and then we lost him. I'm seeing him come in and out. I don't know if he's losing connection where he lives. Anyways, the system is called the Golden Gap system. The Golden Gap system is a 26 point professional bearish gap rating system. The purpose of the system is to help you evaluate which gap you trade each morning using a checklist. That's what I use. That's what I'm going to use tomorrow. That's what I use today and I said I don't like anything. This checklist tells you what to trade when and in what direction. The 26 point checklist predicts the directional bias in a stock and that is what you need because that's how you're going to make money. And then we try to get in them quick. One strategy is all you need to be successful in the market. You do not need a general overall broad base view to make money. Tons of people have that and guess what? They fail all the time. So you've got to learn how to read where the institutional money is going. Is it buying the stock? Is it selling the stock? Where is it taking it? Because again, that's how you're going to make money and the momentum part of it. Big money comes in and it sells off the stock and that's how we can make money shorting or big money comes in and buys it and that's how we make money when we go long. You're not going to move a stock. I'm not going to move a stock. Everybody in the trading room can't. Big, big money moves the stock and you just want to ride the coattails of that whatever it is. So if you think you might want to do this, you have to look for the times between 9.30 and 10 and if you want to make money fast, this may be for you. Again, I'd like to do the quick trades, I told you. If you have a passion for trading, if you want to work from home and if you're looking for a new career or a side thing, you know, it's a part-time job that you can do on the side as well. But I encourage people to chunk it out. If you're looking at that way day by day, trade by trade week by week, it'll be a lot more feasible for you to achieve your goals instead of trying to get the big home run all the time or the dream target and then being a pig and then losing the profit in something and not getting it. People could be that way with some lungs today. People could have been piggies and lungs not getting out. That's one of the reasons maybe we might see some follow through in this tomorrow and a gap down. I don't know. I don't know. We might see some follow through selling tomorrow because people may not all have given up on the lungs today. How do I know? We had a sell-off today but it was late, late and it wasn't right out of the game because we gapped up and you might see some more follow through because people really have a hard time sometime getting out especially when they're so stuck in a particular direction of bias and a lot of people are stuck in this market. A lot of people are stuck in this market that it's just higher. Okay. So the class I teach is called the Golden Gap course. So the bearish classes this weekend, Saturday and Sunday, August 7th and 8th, 9 to 5 Eastern time. Class is online. You can be anywhere in the world and take it. You must email me for sign-up forms. Class tuition is $69.99. Now I am doing a combo. This is a nice deal. If you want to do the bearish class and the bullish class, the bullish class is August 10th, 11th and 12th, 11 a.m. to 5 p.m. This is interesting because it will be on the live room in the morning. Then we'll flip to the class so it's spread over three days because I'm not doing it over the weekend. Same 16-hour class. We take a one-hour break for lunch and if you want to sign up for both, you will receive the live trading room and the gap options. You just let it free for one year and you get a discount. Normally $69.99 per class. It's $10,000. You can do them both. Do the bearish class and the bullish class. And you get the live trading room and options. You just let it free for one year. This is a good deal. This is a great deal. You get all my trades for one year. I'm running this special through Friday, August 6th. Okay. Kathy's running something in the room. If you want to trial, email me at infothesockswish.com or email me at Melissa at the stockswish.com. Any questions from anyone? Thank you for letting me talk a little bit over. Started late today. Thank you for letting me stay happy. Faye, email me if you want the information about the class next week. Gala had, how are you doing? Pip daddy, I never saw come back. Must have got dropped off. Any questions from anyone? Charles, I see you here. I'll know when you're going to get back going. Any questions from anyone? We're living in very interesting times. Stay safe, people. Take care of yourself. Take your vitamins. Get a good night's sleep. Try your best to stay positive and don't get stressed out. Know you can do it. It's good to have a mentor these times to remind you of these things. It's good to have friends. I'll see everyone tomorrow. You're welcome.