 Good morning, everyone happy Thursday December 14th 2023 Man, what a what a jump we got yesterday After the Fed speaker Jerome Powell Was talking Morning Ricky trader morning bumblebee So will the rally continue There's the bell let's find out so the S&P is starting up 0.4% the strongest so I have to see if we get some upside volume runner signals here that a lot of talked that the rally is gonna continue because they said There'll be three interest rate cuts in 2024 And so that has spawned a Massive rally yesterday. I know that I think I think I heard someone say the Dow was at all-time highs or something yesterday But then I heard some people talking that the rally's not over because The NASDAQ and SAP they're not they're not at all time highs yet. They still have a ways to go So we'll see if this baby continues a lot of stocks pushing up right now You know, Amazon pushing up today. We trade the one DTE One day to expiration The stock's pushing down though. I'm stocks pushing up But some tech stocks did not that is interesting Microsoft coming down Netflix coming down JPM already getting Big volume bar to the upside at least it looks like it's gonna get as big as the first Nvidia struggling a little bit And then Netflix and Microsoft coming down And Amazon that is interesting JPM has flipped red. So forget that Not getting much volume here on some of these like Amazon and Apple Square You're getting close Again, we're doing one DTE today makes you wonder if on some of these if you're getting a little initial downs push because there's some selling going on after the it rocketed up yesterday and then Wouldn't be surprised to see a rebound Man, Amazon's really coming down Same thing with Nvidia Baidu may be getting a bar bigger than the first Well Let me check tosses pretty close Morning skywing. Hopefully get your charts figured out. No, but you didn't get there according to toss You have those big updates. You always it's better time to be kind of careful because You think ah, it's just gonna keep rolling but sometimes it doesn't just kind of depends on the situation PayPal look at PayPal's kind of holding on holding on right here push up will hold Kind of looks like it wants to go higher Be looking for some mighty 90s here as well and did he has been so strong lately Just wondered how can it keep going? and you kind of holding on to Like it might want to continue to push up check out some MU Calls here See what they're priced at one DTE kind of wide too So microsoft amazon and netflix here staying weak And meta Apple kind of looks like it wants to continue upward I'm gonna take someone I can we get long apple here on a little early Continuation runner to continue This rally it's kind of holding on while some of the others are pushing down Netflix and app and amazon going through loads of day Apple I would trade the 197.5 calls Built at 210 97.5 And so if it breaks down if it breaks down below this pivot then I would Get out of it um But i'm really playing this upside continuation based on the rally yesterday Some other stocks pushing up And while some are pushing down it is holding. Wow amd That's also been strong. Looks like it's going to get a big volume bar Microsoft pushing through lows I would close half my apple at 230. Let's put that in They'll look for a pullback in amd And do you really want to get short anything right now? That is the question I'm always interested to see what price does when you have a big update like it did how it ended yesterday It's always interesting to watch how price movement reacts So we've definitely got some that are continuing up up in a way Do you have some that look like they're coming down? Question is for how long will they come down? Let me know pullback in amd yet Roku's kind of holding here as well like it wants to continue higher similar to apple Not much movement from apple yet Oh man What are those guys doing rookie trader that's that's not acceptable Yeah, I was just starting to look at roku's calls. I was Kind of wanting to get long some roku there It was just holding above that old pivot right there You're popping right back up and I didn't think it would stay down long Microsoft kind of staying weak No pullback in amd GPM took off. Oh roku's struggling a bit Let's see if I can jump in some roku here On the 107 calls Give it a second here though. Actually, I'm just gonna wait This bar closes here in 30 seconds. So let's see how this finishes. I'm seeing a little bit of stuff coming down here. So I'm watching to see if it'll pull back Into these pivots to give me a better fill Yeah, one of the seven calls Let's try and get filled with a buck 90 originally here. I'm just gonna give it a sec. I'm not gonna Okay, I'm not gonna get too aggressive here. I'm gonna see if it'll fill me at a buck 90 Apple coming down I'm not gonna Not gonna do anything yet in roku See how it holds here. All right Try to jump in here now filled with a buck 80 So much better much better filled just to wait there a little bit And so my thought was if it pushes down through these pivots, then I would just bail on it Md coming down a little bit apple really coming down. It's not what I wanted it to do took a quick Upside continuation runner there. Bob will also kind of Invite you both kind of looking like they want to come higher Idiot pushing back up Microsoft not moving much up like some of these others though so far nothing Nothing shaken for roku Meta coming down through loads of day Built at 230 and apple close out. It's a little tick up there Get out of half my roku here 215 Built at 215 to get out of half a roku It's all right. Get out of another apple Mmm. Let's see here. Let's give it a little bit Still kind of liking by you up to the upside here. It's Gonna go ahead and jump in some by you here on the 114 calls wow Maybe I won't those are wide never mind. What's baba look like? How wide are those my baba's already pushing up darn it? Yeah, forget this Frustrating, okay roku pushing up just what I wanted it to do So I'm gonna get an order in there A little 245 to close another roku apple hasn't moved much Amazon coming down through loads of day Hey, holy moly Now roku though Get out of another roku at 265. Well not going up like I wanted it to Apple really falling. I'm sorry. No apple amazon man Apple's not pushing up like I wanted it to either baba did that's what I thought baba was gonna do darn it hmm Built at 265 In roku to close a quarter. It was on really low volume I was thinking okay. Well, is there a mighty 90 in there or something? Hey, what square not much red there So apple coming down I I don't want to go in any lower than that Really haven't had any good signals It's all been based on price action and look at look at microsoft Sometimes you get stocks a little flush man after a big rally Ah Tesla holding on I'm gonna go ahead and get along some tesla. It's just on just again. Um, this is just basically price action Be the 245 calls in tesla built at 405 So not really playing it based on volume bars is all being placed based on What I'm seeing price action do I mean you can look at Push up a little pause push up and so pause here See apple's still holding on even though some of these are pushing loads of day and look at meta Really pushing loads of day So it has has me thinking that there's a little sell-off here in some of these stocks But the ones that are holding will eventually go higher Yep, just what I said, but we'll be Squares another one you could you know that I would Similar as tesla. See how it's just been holding I'll met it really falling. I was considering reloading in roku too It's mighty 90 an Nvidia there as well I'm already long three. So I'm not going to get long another But that would be a mighty 90. I would probably get in right there. It's coming down to loads of day I'm getting a little sell-off here I have position sized tesla to add so It might be people booking profits from that big push yesterday Right now look at apple. It's just held man It's just been holding tesla Pulling back a little more So I would add to my tesla at about 350 I come down just a little bit more. I want to add to it apple really hasn't Been able to get through highs of day And so I'm going to add to tesla here. See if I'm watching price action right now Build at 335 to add to tesla So if it breaks down kind of below right here, I probably would just cut it and just You know, my risk didn't pay off Kind of see that Nvidia looks like it's going to get a green bar there roku's flirting with Pushing through highs You got to order in at 285 to close another roku Man if this tesla could pop this is going to be a good winner. Hopefully it does Yeah, c-square never Never paused at all really I got an order in at uh 410 to get out of half my tesla I may lower that i'm just trying to Book some nice profits here Bam filled at 410 in tesla Close half Also, I got filled at uh roku at 285 Close a quarter So apple man, it's just Anything I need to get through highs or i'm gonna i'm gonna cut it, you know But these one de tesla you you don't want to hold them They will show some theta decay I mean futures really ain't going anywhere though. Look at that Kind of chopping So that's interesting. It did put on a reverse iron condor today I've had two really nice two days of Nice winners. Um on the ricks reverse iron condors Last two days Real money now Started about half a month early. I actually I started a couple weeks ago About a month early. So apple trying to come up now That was the one I was kind of worried about Should have hit it by now. I want to see it push through that pivot No, I don't want it to get held below the pivot. That's the one thing That was the one thing that I was a little hesitant of is it had that pivot there, but Strong mark that I went ahead and got in It's up almost 3% so So it'll be telling here if if if apple could push through your eyes Tesla could push through this pivot and we might see another big rally today I've got to order in an apple to get out of another one at 250 We're gonna order in it. Uh You need to get out of another tesla here Build at 485 to close a quarter of tesla Did what I wanted it to do there push through that pivot and we just need roku to continue higher We need tesla finish up through that pivot Say what netflix and wrote and microsoft man, they're not They're not having it right now And netflix coming down to loads of day I mean honestly like microsoft is setting up to be a downside continuation runner too Awful hard in a small market like this to get short something But to be honest with you. I mean there are some stocks in the red amazon meta microsoft netflix Boeing casco gug walmart riot uber lulu They're all in the red roku coming back down Don't want that Definitely want tesla staying above the pivot Sometimes it's not a bad idea to get short something in a situation like this because In case the market just does flip on you So I think i'm gonna get short microsoft here kind of coming down already darn it 370 puts Build at 310 So I just try to jump in as quickly as I could there Some of these I don't know man I don't like this roku action here And don't like uh quite frankly don't like the apple action either So my microsoft I'll go ahead and uh just get out of it if it pushes above this little three bar You see I've got this little three bar bounce Okay, I think we talked about that yesterday Except it was a little three bar pullback So you get this little three bar bounce You're looking forward to roll back over And so if it goes above it then I just you just cut it You know amazon It's in the red as well I don't know man my apple is just going nowhere Oh man future's coming down. I'm going I'm going cut my apple A little buck 96 So gave some back there just continuation runner man you want it to You know I got in I wanted it to continue higher. It's just going nowhere Better choice would have been this square right here Microsoft hasn't really gone anywhere very many Signals with volume here. Oh jpms got a mighty 90 long there Just way too tight of price movement though for me Well, so I'm not quite sure what to think here This market getting Going to get stronger is it coming down So microsoft here, I don't want to go any higher now That's where I want the rollover on this fourth bar. I want the rollover right here So roku coming down I want to stay above that pivot though Tesla also coming down So I'm gonna go ahead and I'm going to get out of these longs. I just feel like we're getting We're getting some weakness here Well, you know what Tesla as long as it holds right there You give it a sec Now give it a sec Futures have actually come down quite a bit since the open but I got to stick to my key levels here. I mean Key level for roku is that pivot The key level for apple really was the bottom in this consolidation, which it didn't push through but Days like today can be a little tricky Like you are we gonna you you've got some you got some strong ones and weak ones. I mean look at meta Get ready to push through lows of day You know, then you got stocks pushing through highs of day and they're strong So it can be a bit tricky The trade after you've got these You know big swing like yesterday, you know amazon looks like he wants to rebound Or like gauge whether might whether uh Roku's just gonna chop or Start getting weak here Yeah, you know in microsoft really needs to push through these lows really needs to push through the lows Same thing with netflix here. You really want it to push through lows here Well, no, I don't know if it's gonna be able to Roku coming back down to this This pivot I've got a handful of Contracts left, but I've gotten a rid a lot of roku, but I'm giving a little little back here waiting on it So I want to see roku Definitely want to see roku push up now Same thing with tesla order at 340 to close half my microsoft So you can kind of see where roku bounced last time if you go to this bar right here So that's what you want it to do right now Sometimes I've reloaded, but it just doesn't look like it's going to So bailing on roku So that was an unfortunate turn of events for roku Definitely gave some back. I mean it was all the way up to 285 Microsoft Doesn't look like it's going to get weak Okay, so take a look at square Good continuation runner push up little three bar red pull back push up That is definitely what you want to see Look at netflix trying to get through loads of day Yep, good example of upside continuation runner in square Man most everything today has been built off of Ice actions Not many trades off volume. Hey there you go microsoft Build at 340 Out of baby So we'll tesla hold on Or will it start coming down is the question that's still maybe coming down. I don't know I've got an order in at 370 to get rid of another microsoft You can see I was a good out in roku Take a look at invidia So invidia had that mighty 90 long Look it got rid of those two bars. I got two green bars right there So that's why you bail on two green bars Tesla not it's not happening anymore Built a 395 to close my tesla So nice winner there nice winner got out just just below my original fill So definitely a good ad right down here in tesla Road that push up. Oh nice. You added in tesla at 330 Nice better filled than I did a tesla may still go up. I don't know it may But you know roku came down and see see okay. Here's another key level See where roku came down to It came down right to that point where that red bar is right there the second red bar So you may bounce now who knows tesla looks like it's going to The thing with tesla is I just I just I wasn't going to let it flush any more profits for me. We still got some stocks Pushing up and still some pushing down. So some good two-way action built at 370 Close a quarter of microsoft so again I get you know always getting questions about the strategies price action whatnot which is good and so If you take a look at this microsoft little 3 bar bounce That is the perfect example again of a continuation runner to the downside And then if you look at square little 3 bar pullback Great example of continuation to the upside and it looked like maybe tesla Had a little 3 bar pullback And so the key When you get in on these trades It is best to get in at the bottom of the 3 bar pullback or the top of the bounce because Let's take a look at tesla if you get in at the bottom of the 3 bar pullback And it doesn't work which it won't there's times where they won't work It's nothing's 100 and it starts to push through it and down Your loss will be smaller Okay, wow look at it take off now push this out um But if you know if you get in With a bad fill and that pushes down through here Your loss will be bigger than a nice one too Brats I got three microsofts left So is the sell-off over it might be and if one was brave enough to hold tesla there You will be you would have been rewarded. I still had a really nice winner in tesla I went in with six contracts Added was added six Got out of six and got out of one And then just closed out five So I I mean I had five contracts left in tesla I got out of five contracts. I still if I would have held it That would have been a monster winner now Even bigger But you know things things were coming down a little bit You know netflix still coming down Microsoft may still be coming down Apple had a big push down Amazon was starting to come down. So You know you look at what other price action is doing and You make your decision And there's been times where I've tried to hold it and then all of a sudden You know it continues to go down and now I've given back I mean it happened with roku here. I gave back a little bit here coming down I'll get out of another microsoft at 410 What else is shaking today? Future's doing Future's coming down Okay, so i'm gonna continue to hold this microsoft That was another thing futures were coming down So I thought tesla You know um no not really It's more of a I mean Not really good price action there You know on on the three bar, you know, it has to it doesn't go it doesn't go very far And you look at microsoft compared to amazon Like amazon went From about 147.5 Up a whole point Which is pretty good for a 148 dollar stock Microsoft didn't move much at all It even that's a 369 dollar stock Now meta look at meta It's still kind of a it was a kind of a downside See how it's it's kind of consolidated here and then now it's dropped and looks like it wants to push through loads of day And we might get some pullback here It might it might start to get bloody You know after you have a big day like yesterday Dow dows at all time highs You just might get some pullback. It'll be interesting to see how You know three o'clock. What what where's the market at? Will it rebound or will it just continue to flush all day? Nvidia coming down through coming down through loads of day, you know apple just hasn't gone anywhere I mean, it's got about a point It's going about a point since this uh Market has opened. Well, I'm not really in anything right now. So I don't think I'm going to get in anything else I see square came all the way back down Yeah, it's good. So it's going to be interesting to see How how far this market will come down And then will it bounce or not, you know midday that's That is the question I thought you might get some people that might be selling some things today because they got their book of profits after yesterday You could see apple. Yeah, it's just not One to come down yet I'm going to go ahead and um if if microsoft comes above this price point right here I'll get rid of it. Otherwise I got Three contracts left. I'll just continue to scale out if it continues to come down But if it looks like it wants to have Much of a push-up I'll just cut it and take my profits so All right folks, steve will be with y'all tomorrow So I will see everyone next week Talk to you later Peace