 Welcome to Access a Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good evening everybody. Welcome to another edition of the Access a Trader dot com nightly wrap up show. Hope everybody is doing okay. So just like we discussed yesterday, again, anybody who thought yesterday was the bottom of the day before, again, we're nowhere near the bottom. Again, from the technical point of view, and again, before you talk about having an opinion about something, again, always keep in mind, yes, we have an incredible nasty catalyst that is taking down the market. Again, a lot of economists are now looking at potential. If everything really craps the fan, potential 20% unemployment, we know all the ugly numbers. We know all the ugly news dissemination, all the fear mongering, all that stuff. But again, from the trading point of view, you have to look at everything technically. And we discussed this in nausea the last several weeks before you can start coming and say, well, this is the end of the earth, the market's going up, the market's going down. Understand that we have to test this monthly level. Okay, this is a monthly level on the Nasdaq 100, the QQQs, and the most amazing part, it's 160. The 160 area we talked about this yesterday, we're not there. We're not there. We got down to like 167 today, and then we kind of bounced back. But again, what's amazing about it, the strength of the sell-off has gone from roughly 240 to almost 165, which is absolutely amazing. So from the point of really, really panic, really aggressive panic on most investors, we're going to have to start really getting aggressive below that 160 level. I do believe eventually when it does get tested, it will hold the first time around. And I think that will be kind of the first round of possibly a multiple-day relief rally. I think that's the best way of saying it. It won't be the bottom. I guarantee you it won't be the bottom, but again, at least we have a data point, right? A tracking area that we know if the bulls put up a fight at this 160 level, and again, whether it hits it or not, and they start reclaiming, we could get a multiple-day rally, relief rally, and again, what that's going to be is a multiple-day. It won't be the bottom. You're not going to remember that day and tell your grandkids, actually remember that day? No, no. It's just what it is. Again, technical analysis is still very, very real. Levels are tested. Rebels hold. Levels are retested. Levels are confirmed. That's the cycle. So before you start talking about the market is going to do this, the market is going to do that. This is the bottom. This is nowhere near the bottom. Again, you have to appreciate levels, and you have to trade around those levels, and that's the whole premise of my strategy. My process is all about levels going from point A to point B. You can't put the cart in front of the horse. You can't have an opinion. You've got to have to kind of digest everything that's going on and put dollars and cents, right? Dollars and a lot of common sense behind it before you can trade comfortably and take, quote, unquote, take shots again. Again, a whole lot of information today all over the place. We talked about the European names like the CAC, down 40% as of yesterday, banning short selling. You saw the White House kind of nudge today for a possible, a police possibility of this is still on the table. I personally think you could have something done within the next 48 hours. Again, we'll see. You know, we'll see. But again, you have so much information. You have information overload today. Again, it's very hard to remember everything. You had a trading halt in the middle of the day around lunchtime down 13% on the spies, 15 minutes close. You have all these closings. You have casinos going dark tomorrow for 30 days. You had the REITs. When we started talking about the REITs over the weekend, the commercial real estate, you had SPG, Simon Properties talking about they are obviously closing down their temporary, just temporary everything. Closing everything down. You had so much stuff going on. You had a Bernie Sanders headline of all things. You had a Bernie Sanders headline talking about he's suspending his campaign, and then he talked about psych. We lied. Well, not necessarily. We lied, but psych. I don't know where this came from. We're denying it. We're back in. I was so pumped. Socialism for possibility for years. Can you taste it? I was pumped. I was disappointed. I was pumped again. Off and on, off and on, off and on. Bernie Sanders slash Larry David is still back in the game. Senate passes a Corona Relief Bill free testing, providing some sort of sick leave as well. Then you have your relief. You have your relief. We talked about this basically yesterday. A big stimulus, $1,000 to go out in April, $1,000 to go in May. Again, we really don't even know what the qualification of relief of getting this relief, but I'm guessing it's going to be to the middle class, to the more poor, poorer, again, everything subjective. But again, all the details should be brought upon very, very soon. There was a little bit of good news today. Again, it's so easy. It's so easy to get into this really mental funk. Again, when they hit you with headline after headline, this guy's dying. We're dying. We're all dying. We're all going to die. Everybody's dying. You stay in your house. You're all going to die. My God, it's mental, right? Mental. This whole business, I've been talking about it for years. This whole business is all about being mentally sharp. Again, I said this in the most bullish market. If you've ever had a fight with your spouse or had a bad day at work, previous day at work, or you have problems at home, you have financial difficulties, don't trade. That's in a good market. You get into this market where the hell feels like it's freezing over. The walls are climbing in. People are getting laid off. Businesses are closing. There's just so much bad news. It's so easy to fall victim to this and go into this mental funk. I give you my word, if you can't handle a mental funk in a good market, man, this is a disaster. We're searching for good news. Even the most experienced trader, it really starts to dwell on you. It really starts to get into your head. Keep this in mind. This is the time of year. Both of my kids of spring break are two different times. I try to go on vacation at this time of year twice, once in March, once in April. I already missed my vacation in March, and I'm going to miss my vacation in April. Mentally, it's starting to get to me as well. Is it affecting my trading? No. I'm pretty sharp in my opinion. I'm pretty sharp in identifying market sentiment and sticking to my plan. I'm a human being like everybody else. You need that mental cleanse. Everybody is kind of looking for that piece of good news. What I thought today, there was a couple of headlines that hit the tape that really didn't make a lot of dent. It didn't really put a lot of dent into it, but you got to hang on to something. The first headline was that Starbucks will reopen roughly around 100 locations towards the end of the year. Again, it might have missed a lot of people, but I looked at it and I was like, well, wait a minute, if they're already starting to talk about potentially opening up 100 stores back before the end of the year, that means there's some sort of stabilization. There has to be something. Again, if China was still going through this panic mode of doubling, tripling, quadrupling cases by the day, by the week, by the month, you would never have this headline. I found that a little bit of a ray of hope, a little bit of a ray of hope that Starbucks came out and said, hey, we might be looking to reopen everything up. Again, didn't go into detail, but again, it was something. We need anything to believe in right now. That was a little bit of grain of sunshine that went through. The second one, and I think a lot of people missed this. The biggest problem we have in the United States, in my opinion, and not even my opinion, I think it's out there, that we're just not prepared. They're just not enough valid testing. You're seeing a lot of people take the corona test, get a false positive, and the next thing you know, a week later, they get the coronavirus. There was a headline that came out. I don't know how many of you guys actually saw this. There was a headline came out that there's over 500,000 corona testing units being sent over from Italy by the military, and obviously to follow more. Now, again, if you believe that we have the greatest scientists, doctors, health professionals in the world, we just got to figure out who's infected, what's the real number, and kind of get back to work. And kind of fixing them. Now, again, if you believe this is a seasonal problem, and this will be a seasonal problem going forward until there is a valid way to cure this, or at least to stabilize this, that's a whole different story. If you're in the camp that believes that hundreds of people are dying from the flu every single day, five people are dying a day on this, whatever the number is, again, I'm just throwing a number out there. If you believe in that camp of a conspiracy theory, that's great as well. But again, we need something mentally. We can't just be a civilization of zombies waiting for our ultimate demise. I can't live my life that way. I'm sure you guys are trapped in your house. If you're a normal human being, you're trapped in the house. You self-quarantine yourself. All you freaking donkeys, and that's the nicest way I can say it, all you freaking donkeys that are out there celebrating St. Patrick's Day in bars, in restaurants, doing selfies with 28 other people, what the hell is F-ing wrong with you? Seriously, what is freaking wrong with you, man? I keep on seeing this over and over again, and I'm saying, how can we possibly survive something like this, a global pandemic? If we have a universe, a universe of donkeys running around that are selfish, absolutely selfish and clueless to what the hell is going on in the world. You guys are the problem. Get your asses at home. Believe me, guys, fellas, you're not meeting the love of your life on a St. Patrick's Day bliss blowout during a coronavirus. Let's be honest here. Guys, stay at home. The more people start practicing prudence and self-quarantine, this will start to stabilize. If you're going out to happy hour, if you're going out to happy hour, and you're touching in this and that, the other thing, you're going to keep on multiplying the problems, and then you're going to be home three weeks later with the virus. It's just the reality. Stay at home. Have common sense. But for now, we are still unfortunately in a world full of donkeys. And again, I'm being really, really nice. I had a lot of other words that I was using before that. On the trading side, again, look, it's the same formula every day. It really is the same formula every day. Was this a day like the other days, very, very aggressive in a lot of things? No. I traded today Zoom, caught a nice trade in Zoom today, and I traded today Netflix. I traded today Netflix as well. A lot of other names, at least for me, again, I trade equity. I understand people are also complaining about the big wide spreads in the options market, but at least you have a covered max pain. If I'm long, for example, in the video, and there's a $2 spread and the futures dump on me, it moves five. So it's very, very important day to day to kind of view the aggression with the value. Sometimes you have good value. I tell you, we had good value. We had some really, really good value today, but I was only able to trade a few names. Again, I did okay with these names. But again, sometimes liquidity is a very, very big deterrent if I'm taking the trade or not. If you've got a big wide spread and the stock moves up $5, $6, it looks great on paper. But if I can't control my risk, I'm not going to put the trade on. That's exactly what I saw today with several trades, but overall pretty good value. Again, it's the same formula over and over again. Again, we talked about this initial value is to the upside. Again, we got a gap down today, 8, 900 points. Again, look, wait for channels to develop, wait for confirmation, enter with confidence, business as usual, wishing everybody a fantastic day. So we were watching General Mills. It stopped short of $60. I still like it. Again, serial guys, they came out with earnings. They actually looked like pretty decent earnings. They actually sold them off on earnings. But again, set this $60 handle. Set this $60 number on whatever chart alerts you use. Once this thing starts building up $60, it's going to go. Clorox exploded. Absolutely exploded. Monster move yesterday. These are the levels that need to build. 203, 205 both need to build for more upside. Here was Clorox. Again, here's Clorox. We talked about this yesterday. Here was Clorox. Here was the 203. Here's the 203. Here's the 205. Took out the 203, took out the 205, and went all the way up to 214. Really, really big move. The initial candle went up to 209. So really nice move on Clorox. Good job for those guys who took it. Kroger, again, not really my thing. But again, for all you guys who did trade Kroger, again, that was the theme. You had package foods. You had wipes. Any consumer cyclical product that you use for your home, detergent, stuff like that. Supermarkets, Walmart. Look at Walmart today. Phenomenal. So Kroger 35 needs to build. Here was Kroger. Here was Kroger. Here was the 35. Went all the way up to 3630s. So a nice move there on Kroger. The video exploded. Here's a perfect example of what I mean that I couldn't get into this trade. I couldn't get into this trade. By the time I wanted to enter the trade, it went from literally 201 to 205. It felt like on a thousand shares. That's what it looked like to me. It went literally from 201 to 205 to 206 to 207 in seconds. If you did catch this trade, great job. I didn't. It was just too thin. It was just absolutely too thin for me. Here was the 20130. Here, let me show you the 60-minute channel. Here was the 20130. Right here, 20130. Look at this move. It looks great on paper. With the 20850, I couldn't get a piece of this trade. Way too thin. Put up a $7 candle. I just couldn't get into it. Tesla did exactly what I thought. I thought Tesla was going to go to 397 to 405. That's exactly what it did. If you look at Tesla, here was the 397 pivot right over here. Here was the 397 pivot. Went right to this 405 level. Again, biggest trade in the world. Sounds good, right? But again, it is what it is. So you had a 7-point move over there. This was the big trade, at least for me. This was at least the trade, at least for me. ZM needs to build. I caught ZM beautifully yesterday. Caught it again today. 110 needs to build. The first move on ZM went from 110, right? Went from this 110 level. Here was the whole 110 sneaky channel. And it went to this 112. Everybody see this 112 area? Oh, excuse me, right here. Everybody see this 112 area? 1180, 1180, 1180. So it went to this 112 area and put it in an original high of like 11220s. It remounted. When you guys hear me say, when you guys hear me talk about second entry, that's what a second entry is, right after the pivot. So I bought it on the remount and exploded. I mean, the stock exploded. I mean, explode. I mean, big, big move. It went as high as to like 17. Big, big move. I was happy with the trade. I was happy with the trade. I mean, there was nothing wrong with it. I mean, very, very happy with it. Considering the liquidity today was very tough. For all you guys who traded small caps, again, I don't trade these things, but again, this is what I keep on saying. It doesn't make a difference who's in the trade with you. Pivot is a pivot. So BMRA for you small cap lovers, $575 rejected twice, needs to build. And here is BMRA. For all you guys that did take it, congratulations. Here was the, you know, here was the, what was it right here? Here was the five, excuse me, here was right here. The $575, it took out $575. The first candle went to $8. I don't know what happened after. It looks like it's like $14 after the close, candle went from $575 to $8. If you caught it, if you went back in, blah, blah, blah, blah. Phenomenal job. So a great job there. Again, if you, if you long, take it on the way up, right? If you long, take it on the way up in the video. Again, I was shocked. Amazon had a really, really good move today. You could see Amazon 1808 needs to build. Here was Amazon. Here was the 1808. Hold on. Where is it? Right here, right? 1808, right here, 1808 build. It went right to 1841, right? Went to 1841, big, big move on Amazon. FedEx never got close to the 11060, 11080. Clorox take on the way up. Netflix, I took Netflix, I butchered it. It had a $10 move. I butchered it. I butchered it. See, I made some money on it, but I butchered it. It was so damn thin at one point. It was trading at a $2 spread. I was like, you know what? Let me just take some money off this thing. It was just way too thin. It was the same thing as NVIDIA. I missed NVIDIA, so I went into Netflix, and I was like, wow, I'm in this thing. It's scaring me to death. It's just any drop of the future, this thing is dead. So I sold it, took some money off of it, watched it go down a dollar, and then it just spread out just like NVIDIA. So it was a little frustrating watching it go up like 10, but it is what it is there. Roku never got up to this 75. Again, take on the way up. This never obviously got there. Amazon take on the way up. And again, I kept on saying, look, take flow, right? Take flow. Keep on taking flow in this market. It's rinse repeat. Again, you don't need the highest print of the day. Keep on taking profits. Again, I said GIS. This is a huge spot. Again, only risk 30 cents there. Kroger taking out the high of the day. I missed this trade. I missed this trade. 380 big area if it builds below can flush. Experienced traders only knew traders stay away. Again, second entry, right? Second entry. So second entry you see right here. 370 is now the second entry. And Tesla got destroyed. I mean, Tesla got absolutely destroyed. So here was the 378 second entry, and it went all the way down to 350. So again, you had value. You had value. I didn't love. I definitely, definitely didn't love. What I saw today as far as spreads and liquidity, but again, what are you going to do? Right? What are you going to do? You can have less active market participants certain days just because you're going to be in room full of people who are uneducated and who are panicking and never seen something like this before. So you're going to have days that you're going to have big moves, but you can't get filled. You have big moves. There's not enough liquidity. You're going to have big moves, but you can't take it as a $2 spread. Yada, yada, yada. Again, like your worst days in the world be a day that you make some money. Tomorrow, again, business as usual. Again, some people getting excited and say, well, if we rallied a thousand off the lows, okay. Right? We'll see what happens tomorrow. If we gap up, right? If we gap up tomorrow, we'll be watching for the initial move to the downside. If we gap down tomorrow, again, business as usual, we'll be looking for channels to the upside. Guys, God bless. Have a great night, everybody. Stay safe. Stay at home. Stay at home. Stay at home. Wash your hands. God bless. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.