 Hey everyone, Lee Lowell here, smartoptionslow.com. Today is Saturday, August 27th, 2022. Welcome back to another edition of our Saturday Synopsis. Why are you here? Why are you watching this video? Because I'm here to show you how to look at charts, how to become a better and more profitable options trader. Technical analysis, start reading, it's what I do. I've been doing it for the last 30 years. So I'm here to help you. I'm here to show you my charts, what I see, what I use to get into and out of trades, not only for myself, but for our newsletter readers as well. We're put option sellers here at the smart option seller. We sell options, put option credit spreads as well. They're more bullishly oriented trades. So we look for times in the market where the market is either going up or on a drop and looking to bounce from that point. And that's when we get in. So it's all about, for me, looking at the charts. And I'm here to show you what I see and what may be coming down the road. So if you're looking to get a little more information on how to read stock charts and sit back for the next few minutes, let me show you what I'm seeing on my charts. And for those that have been asking, yes, it's time, college football starting next weekend, got the buck, guys. So looking for another good year from them. All right, let's just jump right in, start looking at the charts and seeing what we have. For those that are new here, we always look at the SPY, which is the exchange trader fund for the SP500, gives us the best overall view of the market as a whole. And basically for me, it's what drives the market, okay? And individual stocks will typically follow the general market, as long as there's nothing specific going on about that individual stock at the time, most notably earnings announcements. So since there's not a lot of news on an everyday basis for individual stocks, they will typically follow along with the market as a whole. So that's typically why we like to look at the SP500, it's made up of 500 different stocks. It's a good barometer. So on what you're seeing here in front of you is what I look at. This is how I have my charts set up. The real estate here is about two years worth of charting, two years worth of history, I should say. And I look at daily bar charts, open, high, low, closed bars. I don't look at candlesticks, that's just another way of looking at charts. I don't use candlesticks. I look at these bar charts and each one of these lines is one day's worth of trading going back about two years in time. You'll see some of these squiggly lines on here. Those are moving averages. I have three moving averages. I got a 20 day, 50 day, 200 day, all simple moving averages. You can tweak whether it's a simple or exponential, entirely up to you. I use simple and these are some of the most widely followed moving averages, 20 day, 50 day, 200 day moving averages. Just gives you an idea of which way the market's been trending down here. I use the RSI indicator. It's a 14 day look back period. It ebbs and flows between overbought and oversold levels. I have the 20 level and the 80 level set as my overbought and oversold levels. I think the default, if you're just opening up a chart for the first time and pull up the RSI, it will probably default to the 70 and 30 level. I like to expand that, open it up a little bit more to the 80, 20. You can tweak it any way you want. You could, your look back period could be different. Everything's tweakable, okay? But these are the settings that I settled on over the many years I've been watching charts. All right, so let's just look and see what's been happening. If you're somewhat new, you can see these channels that I draw, the blue lines. The channels gives us an idea of which way the market's been trending. Now, I'm not a day trader. I'm not an intraday trader. I'm not a short-term trader. I look more towards longer term, months, years, decades. In our newsletter, we're typically a one to four-month time range. So that's a little bit shorter too. So when you're playing on those shorter time frames, your timing when you're getting in and out of trades has to be pretty precise, okay? If you're trading, especially if you're trading intraday, like every couple of minutes, you really have to understand how charting works technical analysis because you're gonna lose money if you're trying to trade short-term like that without some kind of system. Whether that's looking at Fibonacci numbers or overbought, oversold within those minutes, it's really hard. So I like to move out to longer-term time frames because any given day, the market could be so random and it's hard to trade like that. So we look at longer-term time frames and these channels gives me an idea of which way the market is moving on a longer-term timeframe. Now, for those of you that are in the market, you know that we've been in this sort of bearish downtrend since January. Here's January 2022 and the market's just been going down since. Now, since the middle of June though, we've had this nice little uptrend here. You can see right here is roughly, if you go down to the date, roughly the middle of June and to middle of August. So we had this two-month reprieve from the last seven months of, you know, six months worth of downtrend. And just yesterday, you can see here this long bar right here. This was yesterday, Friday, August 26th. The bar is telling you that we closed on the bottom, the low of the day. How do I know? Because if you look at this teeny, teeny dash mark, let me see if I could zoom in just a little bit here. You can see right here, there's a little dash mark on the right side of the chart. That shows you where the market closed for the day. You can see these bars right here. On the left side of the bar is where it opens. On the right side is where it closed, okay? So when something closes on the low like that, that means there's been a lot of selling. And look how long this bar is as well. Open this up a little bit. This was a big day. And so why did we have such a big day and why did we close on the low of the day? Well, we had the US Federal Reserve, Jerome Powell, a thank for that. He gave a little speech yesterday in Jackson Hole, Wyoming about what the Fed is thinking and what they're gonna be doing with interest rates. Now, the Fed's job basically is to keep inflation low and keep employment as high as possible. As we all know, inflation around the world has been extremely high. Here in the US, it's like nine or 10%. I mean, it's just incredibly high. The Fed's target rate is around 2%. So they've got a lot of work to do. And one of their main ways to combat inflation is to raise interest rates, which they've been doing. They've been doing since earlier in 2022. So there's no surprise there. And Jerome Powell said that they're gonna be aggressive. They're gonna keep interest rates high and moving up for a period of time, some time. And there could be some pain, his words not mine. There could be some pain for the US economy. No one likes to hear things like that. And obviously it spooked the market. So we had this big day that just was on the defensive all day long. To me, there really shouldn't have been any surprise to the market. We know inflation is high. We know that the Fed is going to keep interest rates up. So that's not a surprise. I think what maybe spooked people is just, his tone was more aggressive meaning, we're gonna do everything we can to keep inflation down. So that means interest rates are gonna be high for a long period of time. And I think people were possibly thinking maybe the Fed won't be so aggressive. Maybe they'll start lowering interest rates next year. So that may have given them some angst that may not happen. For me, there really was no secret that the Fed is gonna keep interest rates high. But anyway, this is how the market reacts. So we had a big down day yesterday, unfortunately. Now, how does that play into the overall moves of the market? Well, the channel here was that we were in a downtrend and then the market since the middle of June mustered up this nice bull, this bull run. And the last few weeks, I've been showing where the market's been going. This is where it caught the resistance right here. Here's the 200 day moving average. Hit the top of the channel. So there's a confluence of big resistance right here. You can see a market will move up and down within the channels, okay? You can see the back and forth. You can see the back and forth here as well. So when a market is in a certain direction, up trend or downtrend, whatever, over time, you can see how it bounces within the channel. Now, since the middle of June, the market probably since the middle of July right here, the market just went straight up. So there had to be some resistance and profit taking at some point. And when it hit along the 200 day moving average, which is a very popular moving average, people will start to see things at the same time. So there was a lot of selling coming in here. I didn't think it would get hit as hard as it did. I did say that we'd have probably a little bit of a pullback, maybe some sideways action. But with Powell's talk yesterday, it spooked the market and it knocked it through the bottom edge of the channel here. You can see right here, the market closed well below the bottom edge of the channel. So what's gonna happen next week? Well, we have to wait and see. Will the bulls realize, you know what? That wasn't such a big deal. We know interest rates are staying high. You know, we wanna get back into the market. You know, technical analysis here like this, this would be a good place to potentially, you know, nibble a little bit, looking for the bounce. You know, the market could just keep going lower. All right, so there's no guarantees in trading. There's no guarantees in technical analysis. Nothing's 100% accurate. You're trying to make high probability decisions, okay? So we have to see where the market opens Monday. We'll probably get maybe a little follow through. Now what we have lurking down here is the 50 day moving average, okay? So the next landing spot, if the market is going to keep falling, would be on this 50 day moving average, which would take us, right now it's about 398.56 on the SPY. So it would take it under $400 per share. So we have to see, or will the bulls come back and start fighting to get to the upside? Now I've been mentioning, typically August and September seasonally wise has not been very friendly to the markets. If you go back and look, you know, maybe the last 10 years or so, maybe even longer. August and September just has not been great for the market. So if you're following seasonality, you might have been out of the market and waiting for the bounce towards the end of September, early October. So that's just another thing to think about. But for right now, the SPY, the SP500 fell through the bottom edge of the channel here. So the next spot could be the 50 day moving average. We'll have to wait and see. I didn't see any surprises here. I didn't see any surprises, but, you know, the market thinks otherwise. The other thing, why people will sell stocks when interest rates rises because now fixed income securities such as bonds and CDs could give you more return on your money. Banks will pay a little bit more now on your cash savings deposits. So people will start to sell some stocks in order to get that fixed income from bonds and CDs, treasuries, whatever. They still don't pay a lot. I mean, stocks are still the best game in town, but, you know, this is how the market reacts. So we have to respect that. We have to respect what the market is showing us. Our opinions, our thoughts are thinking that the market has to go this direction will always prove you wrong. So it's better to let the market tell you and show you which way it wants to go. And for me right now, breaking through this bottom edge of the channel finishing on the lows is pretty much a, okay, let's step back a little and let the bears do its thing. And what I've been doing all this time, I'm nibbling on the way down because I know in the long run, the market goes up over time. So I'm holding my, got my retirement funds for the long haul. Okay, I know the market will go up over time. It all depends on what type of trader you are. You know, if you're looking to pay the bills and you need money and you got to trade intraday because you need money every single day, you know, that's something that you have to try to figure out yourself. That's not me. I can't do that. I've tried that many, many years ago, many times, couldn't find a strategy that works. So, you know, I'm not afraid or ashamed to say, I'm not an intraday trader. I'm not a day trader. I just can't do that. So I look out for the long run, pick trades with more time involved and it typically works out for the good. But anyway, we try to see what's happening. Let's look at the queues here, the triple queues NASDAQ and see what's been happening there. I mean, you'll see these indexes look pretty much the same. Big day, big down day right here. I mean, this was a, you know, intraday from top to bottom, the size of the bar tells you the range of the day. You can see, you know, some days are bigger than others and then some days we have these, you know, small ranges. This was a pretty big day. So everything's got sold yesterday, unfortunately, well below the channel here, coming on, looking at the 50 day moving average for some next area of potential support, landing spot, whatever. All right, so we're on the defensive right now. We can look at the Dow Jones. This is the DIA, the ETF. Same thing, big day for the Dow, came down through the channel, got the 50 day lurking below. So they're all the same. They all look the same, bad day yesterday. Let's look at individual stocks as well. That's what we do. We start with Apple. We look at the more popular stocks. I mean, if I had to look through all thousands of stocks, we'd be here forever. So we look at some of these more popular stocks. We looked at Apple the last few weeks, had this beautiful V shape bounce here. Here's the all time high for Apple in the low 180s. So we were getting close. And then just yesterday, derailed it for now. For now, here's the bottom edge of the channel right here. And the channels don't have to be precise. I mean, let me remove this and show you what I do. You know, if you wanna draw a leg, you try to connect some of the bottom bottoms of the most recent or in the past here, you can see I'm connecting the bottom edges of some of the moves as best as you can. Okay, so we're looking at it like maybe right here. Looks a lot similar to the one I just deleted. Okay, so Apple's coming down to the bottom edge and you can see where it connects right with the 200 day moving average right here. So in the next couple of days, if we have some follow through to the downside, Apple's next landing spot will probably right around here, right above $160 a share. Okay, and if it gets through that, then you have the 50 day moving average lurking down below. Okay, but you can see how the market moves, you know, bounces in the channels. And it's gonna stay in that channel until something moves it to the other direction. So you can see here, we were in the downtrend and then it started to move, starting to form the next channel. If the market or stock comes down a number of days below, then we can start drawing the next part of the channel. And we can know, all right, now we're back in a downtrend until the next trend happens. So these are the things that just kinda helps you follow along where the market's trending, where the stock's trending and how to time your trades a little bit better. For us in the newsletter where we're looking for bounces, we're looking for more bullish trades, we would wait for an opportunity like this where the stock or index is coming down to the bottom leg of the channel. And then we can either front run it and hope that it bounces or we actually wait for the confirmation of the bounce. Sometimes I get a more try to front run it a little bit, try to get that spot right on the edge because once it bounces, then we don't get as good at fill prices on the option trades. So sometimes we try to front run it, sometimes we wait. And that's what we do. So that's Apple. Let's look at Tesla. You can use all these things at your disposal. There's tons of indicators. When you first start out, when I first started it, I figured more indicators the better because then if everything's in agreement, it'll tell me which way the stock or market's gonna go. And you'll find over time that doesn't work. It just clogs up your charts. You just can't see anything anymore because there's so many indicators. So it's better to break it down to just a few indicators that you really think are reliable for you. And how do you know which ones are reliable? You just gotta start looking at charts. I've looked at hundreds of thousands of charts over the years. And I've come to the conclusion that my three moving averages and the RSI really gives me the best way of seeing, for a long term perspective, which way the market's gonna go. And that's what I've settled on. Other people like to have volume indicators. They like to use Fibonacci. They use stochastics. There's so many different things. You just have to figure out trial and error, which ones work for you. So here's Tesla. Tesla, here's the 200 day moving average. So it's been kind of hovering around that. It's got the 20 day as well. So the 20 day and 200 day we're kind of converging right here. We can see if we draw, we can draw like a little bit of a congestion pattern right here, which is a pattern where the market gets tighter and tighter and eventually it's gonna either break above or break below. So Tesla looks like it may be in this little congestion pattern had been trading around the 200 day for a while. It was here. It was in this pattern here for a while and then it blasted to the upside. So Tesla is hard to take down. It won't stay down for long. Tesla just underwent its three for one stock split. Was trading at roughly $900 a share earlier this week. Did three for one. So it was trading right around $300 post split. All right, so keep an eye on Tesla. This little congestion pattern, it's if the market starts going up, Tesla is gonna go up. If the market starts going down, the general market I'm talking about, Tesla will start to follow. The only other thing that moves an individual stock is like I said, an earnings announcement that comes every three months, every quarter or some other specific news item. Like of course we know Tesla, Elon Musk is in that battle to buy Twitter or not. I mean, there's the news items like that or news items that come out that say, the company's been cooking the books for the last 10 years. That is an individual stock moving type of news. Other than that, individual stocks will follow the general market. All right, so that's Tesla. We looked at Apple. Let's look at Amazon. Amazon same thing had the big day down yesterday. Had been doing well, has a gap here. People like to see the gaps filled, meaning the market has to come down to close the hole here. We got the 50 day lurking below. So Amazon had been doing better, found the support right around 100, bounced off that a number of times, went up but found the resistance right at the 200 day. So these are things that you wanna look for. You wanna see how it moves when it comes upon a big moving average like this, how it interacts with the other moving averages and just look for areas of support and resistance. So Amazon, it's following the market and I don't really have much say whether it looks like it's going higher or lower. What other stocks? We look at some usual stocks that I like. Disney talked about Disney quite a bit. I own shares of Disney. I had bought a number of shares at the 130 level where it was finding support and then it just went down. The next area was around 100, went through that a little, but found some support, got the rounded bottom here, went up good. So right now it's sitting on the 20 day moving average right here. Hoping for a bounce, but you have to respect what the market is showing. We may get some follow through and if it does, here's you got the 50 day moving, lurking down here. Nike, when I wanna buy stocks, I look for periods of where it's gonna bounce, where it could potentially bounce. It doesn't always work. There's no guarantees, but if you're holding for the long run and you know companies are solid, companies that have been around a long time, they have a history of providing better earnings quarter after quarter, that means they're being profitable, the stock chart will follow along in the long run over time. On these short moves, these intraday moves, the stock could go anywhere. Okay, so this is Nike. Nike had been, Nike has been in this long downtrend just since probably the beginning of July, somewhere in June, it started this uptrend, but you can see right here, it had fallen below the channel, fell below the 20 day and the 50 day moving average, closed on the low, you can see a little dash mark here. So Nike, looking a little weak here, could have some more downside, might get back into this downtrending channel again. You know, you can draw a little bit of support right here and see if it blasts through that. If it does, it's gonna get back into this whole downtrend again. So keep an eye on Nike, the 105, 110 range is that area that it needs to hold above. Other than that, it might keep going. That's Nike. We looked at Disney Nike. Let's look at Walmart. You know, these are stocks that I like. These are stocks that just, the brand names, you know these companies, you know they're profitable, but they're just getting caught up in the general market movement. Walmart was doing well. I had some support in the, you know, 115 to 120 range. I had bought some shares around 120, bounced nicely, got above the 200 day moving average here and then it's just succumbed to the rest of the market over the last week or so. Big down day yesterday has fallen below the 20 day moving average. Here's the 50 day down here. So you can see, you know, once again, you can draw, you can draw, just kind of eyeball it a little bit. You can see it's in an uptrend. Gives you an idea. You know, here around 130, maybe could be the next landing spot. You got the 50 day down here. I'm hoping that it'll just continue to move in this upwards channel, bouncing from high to low. That's what you look for. Let's see what other stocks we have. AMD, I talk about AMD all the time. We're in a play in AMD, a bullish trade on AMD and we want the market to go higher. Obviously, AMD had been in this long down trend, finally popped out of it and now it's, you can see a small trend here. Draw another line. You can see a little bit. This could be a bull flag, okay? It's in the eye of the beholder. When you have a bull flag, bull flag occurs when the market goes up and has this little bit of a down trend. This is the pennant. What's called the pennant part. You have the pole, the pennant and then it should move higher. No guarantees, but this is more of a bull flag, sort of the congestion pattern as well. There's a couple of things going on here. So we wanna see how AMD reacts. Here's the 50 day moving average right here. Here's the top edge of the other channel. If it keeps dropping, it might find some support right in this area. You got the 50 day and the channel. I'd say somewhere between 85 and 90 should be the next area of support. As long as the general market can find support as well. If the general market keeps going down, AMD could end up back into this channel again. Something that was a catalyst for AMD this week. It was also NVIDIA. The two of them share the chips sector space, a computer chip sector. NVIDIA had some big ranges. They had earnings the other day. First it dropped, then it went up and then it just dropped with the rest of the general market. So if you're playing the chip sector, keep an eye on AMD NVIDIA. Intel we also look at. Intel is probably the worst of the bunch down in the dumps here. There's been no bounce at all in Intel. Just it keeps going down. Intel is not the choice for me. I'd rather stick with AMD. Microsoft. These are stocks that a lot of people have a lot of interest in here. It was in the down trending channel, popped above it, found the resistance at the 200 day moving average right here has fallen back below. Now it's trying to catch support on the 50 day. And you can see, if we extend this line, let's extend this just a little bit more. Just pretend we've got some movement here. You can see that has fallen right onto the edge of the channel. Got the 50 day right here. So this is a make or break for Microsoft. It either needs to bounce here or it's gonna come back into the down trending channel and start maybe a new leg into the down trend. So keep an eye on Microsoft for that. Let's see what else we have here. Let's see. Let's go through my list. Oracle AMD, we looked at Amazon. All right, so let's take a look at Netflix. Netflix had found support down here right above 150, maybe 160 or so. I've been doing well. Didn't get hit too hard. Here's yesterday, Friday. So it's still kind of in the range where it was. You can possibly draw maybe some support here and see if that could hold. You know, but Netflix has got a long way to go. It was up here around $700 a year. Got down to almost 150. That's a big move. So see where it goes. If the market, if the general market could bounce, Netflix will probably bounce right off this support line and keep going. Here's the 200 day here. Let's see what else we have. Cisco, we got into a trade in Cisco this week. Cisco had great earnings. This is why it gapped up. You can see the, just was trading here. Then it gapped up here and then it had the pullback. What's called the post earnings announcement drip. Good stock, good earnings, but then it drifted back. I thought it was gonna have some support at the 20 day moving average. We got into a trade. Can't tell you which one it is, but we're looking for Cisco to go back up. Obviously it got caught up with the rest of the downtrend of the market yesterday. So it fell below the 20 day. Here's the 50 day lurking below and we'll see where it goes. But great company. And if you wanna learn more about put option selling, let me take a quick break here and show you our website, smartoptionseller.com. If you wanna learn about put option selling, what it is, why we love it so much, why it's the basis of our system, go to our website, click on put selling basics here at the top and read what we have. You can put your name and email address here. You'll get an email from us. There'll be a link in there to download the free copy. And if anywhere else on our website, you'll get a pop-up box to fill out the form as well. Just this page shows you, tells you a little bit more about it. We also have our services tab here. If you wanna learn more about our newsletters, what we do, and we also have our coaching that helps you get to the next level if you're just starting to learn about options. All right, let's go back to the charts. Cisco, let me see what else we have here. Procter and Gamble. So we talk about the healthcare stocks, Eli Lilly, Bristol Myers, Pfizer. We got hit a little bit this week, just along with the rest of the market, Merck, J&J. Where's my J&J? J&J getting hit a little bit as well. So everything's been getting hit. It's just how the market's been moving. August and September, once again, seasonality, got the Fed talking. These things move the market, but in the long run, if you're holding for the long run, we know the market goes up over time. Short term, anything could happen. Verizon, still down in the dumps. I like to get into the telecom sector, but Verizon would be my top choice, but it's not here yet. It's not telling me it's time to get in. Same thing, AT&T, just not really doing much. PayPal, let's look at PayPal and Square, payment sector. PayPal, let's move this up a little bit here. Had been in the long, long, long, long downtrend. Finally broke out of it, trying to find support at the 20-day moving average here. 50-day lurking down below. You'll see a pattern here for a lot of stocks hitting on the 20-day, 50-day lurking underneath with the downtrend channel a lot further below. Not much for me to say about PayPal. Costco, all right, McDonald's still looks strong. Pepsi, I wanna talk about that, has just been a strong mover. Just, you can see how it just, if you're looking at the chart, eyeballing bottom left, top right, stocks just been moving up. Yes, we've had pullbacks along the way, but overall in the longer term, moving higher. That's what you want out of a stock. If you're gonna invest for the long run, bottom left to top right, you wanna see the stock moving up. Let's go back to Verizon. What you don't wanna see is top left to bottom right. That means the stock's been going down. That's not doing anything for you. No appreciation there, you're losing money. So that's why you wanna look out on the longer timeframe. Okay, if you're holding for a long run, I'm talking 10, 15, 20 years. If you have the time for that, you stick with quality stocks. And Pepsi, a great dividend payer too. Going up, bottom left, top right, Coca-Cola as well. Bottom left, top right. Now, I've got this congestion pattern in Coca-Cola. I love Coca-Cola, great dividend payer. It's a slow mover, but in the long run, it does well. Coming on support right here at the 50 day moving average, you can see right here, dropped right to it. And down here is the two under day. I mean, you can't really go wrong with Coca-Cola as long as you're willing to give it time. Okay, if you're trying to trade intraday, here's what people do. Here's the intraday chart, which is a one minute chart. This is a one minute chart. So each bar is one minute's worth of trading, real short. How do you pick a trade? How do you make trades based on that? For me, it's hard. Here's the SPY intraday. Are you gonna try to get long here, short here, long here, short here, short here, long here? It's hard. It's too intensive. You gotta sit in front of charts all day long. That's what you're doing. Not for me. Daily, over the long run, the market's gonna go up. We're just caught in this nastiness right now. A lot of news headlines been out there for the last six months, seven months, COVID, supply chain issues, Ukraine war, inflation, interest rates. It's a lot to take in. That's why the market's been in this downtrend for a while. Those are some nasty headlines, but they're old headlines now. And then we have to look to brighter days. Stocks are still pumping out products, still making profits. You just have to find which stocks will work the best for you. Let's finish going through our list here. We looked at Pepsi, a Home Depot. Let's talk about Warren Buffett. Talk about Warren Buffett. You know, he's one of the wealthiest men in the world. Worth maybe close about a hundred billion, maybe more than that. I don't even know what his numbers are these days. So he's doing something right over the years, okay? Berkshire Hathaway Class B shares trading just under about $290 per share now. Got hit. It is below the channel now. So once again, 50 day lurking below. I talk about this when we talk about Warren Buffett on our website. If you go to the shop tab here, I wrote this other interesting options trading strategy to piggyback Warren Buffett on his trades. Secret to buying Warren Buffett for pennies on the dollar. Take a look, click on it. It'll tell you about it and you can decide whether you want to purchase or not. So Warren Buffett doing something right. Let's look at the long-term chart for Warren Buffett. So there you go. Bottom left, bottom left, top right. You wanna follow a master, follow Warren Buffett. You wanna use an option strategy to follow Warren Buffett. Look at that report that I wrote. So that's Berkshire Hathaway. In the short run, anything could happen. Long run, focus on the long run. That's how you make the money. Twitter, you know, there's no, Twitter's not gonna go anywhere till the whole Elon Musk thing gets settled. Facebook, Meta, down, scraping along the lows $160 a share. You know, you can draw the support line, take your line, connect some of the bottoms, okay. So here's an area of support for Meta slash Facebook probably the mid 150s. And if you wanna draw, you know, a top line here, you can do that as well, okay. So it's in that kind of little bit of a channel and it's bouncing in between. So the next stop could be the bottom edge. If it bounces, then maybe take a stab, ride it up to the top edge, take some profits here and see if it comes back down. Those are some things that you can do. IBM, not bad, Google, Google's in a channel of its own. Bouncing, bouncing, bouncing, got above here but came back down, heading towards the bottom edge probably if the whole general market starts to move down next week as well. So keep an eye on Google for that pattern. GameStop, AMC, you know, these companies are still around. You know, these meme stocks, AMC got hit pretty good the last week. Let's look at Bed Bath and Beyond because that was the stock du jour of the last week or so, these are stocks that have a lot of short interest, meaning there's a lot of people selling the stock, hoping that it keeps going down. And then all of a sudden it gets this huge rise, people have to cover their shorts, they have to buy the stock so everyone's scrambling over themselves to buy up the stock and then it powers higher and then it gets crapped on again. So best buy, you know, you make money, make sure you take your profits, don't get greedy and think it's gonna keep going. If you want, maybe hold a runner. Holding a runner means you keep a little bit of extra just in case it keeps going, but get out of the majority of your position because look what happens, that hurts. You make all that money and then you just give it all back. Don't forget to take profits if you're trading those kinds of stocks. Peloton, same thing, they had earnings. It's just scraping along the lows. Alibaba, Clorox and Colgate. You know, these are companies that sell products that we use every day in our lives. So they're doing okay. All right, that's about it. We're getting a little long here. Let's look at the SPY one more time. What's gonna happen for next week? Obviously there's no guarantees. Market ended on the lows. Could be some fall through next week, maybe come down to the 50 day. Obviously I've got positions. I want it to go up. I wanna see it go up, but I'm not trading that way. I'm trading what the market is showing me. And right now we may have some more weakness ahead depending on how the rest of the market feels next week after the Jerome Powell news. All right, so that's all for the Saturday synopsis. Hope this video has been helpful. Leave me a thumbs up. Leave me a comment. I'll always answer. Send me an email. I'll always answer. Don't forget to subscribe to our free put-selling basics e-book and just learn another strategy. All right, that's all for me today. I hope everyone has a great weekend and I'll see y'all next year, next Saturday. Okay, this is Lee Lowell signing off.