 If you ever watch the PS60 workshops you understand stocks need to confirm the highest areas of supply and the lowest areas of demand to go higher or lower. So 134 and perfect. A trader right to the supply zone of 175-50. Again I still like Roku going into tomorrow if he can start confirming this channel here. 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, happy Monday everybody. Welcome to another edition of the AccessaTrader.com Nightly Wrap-Up Show. I want to congratulate, you know, I want to congratulate the Tesla Longs. I think it's an amazing story. Okay, I think one day this is going to be definitely put in the archives as one of the greatest things a trader investor has ever seen. And again, you can love it, you can hate it, but at the end of the day, you know, price action is the only thing that matters. And, you know, they got their split, Apple had their split as well. And the most amazing part, it just continues to go higher. So, you know, is it a product of its environment? Is it a product of its magnificent ability for hatred to be on the wrong side of the trade? Or is it just really just a good product, right? It really is. Again, three out of my four neighbors directly in front of me or on the side of me have Tesla's. I think I'm the only Shimak who doesn't have one. Okay, they're everywhere. Okay, it's completely different if you're talking about a company that you can't touch their product, you don't see it, you know, you've never bought it. That's a whole different story, but they actually make a phenomenal car and say what you want. Again, price action pays. So, all jokes aside, I think the Longs, congratulations. You know, you put your money where your mouth is and Tesla right now is up, what, 508 after hours. So, great job there. August came and went. Phenomenal month. We saw one of the more aggressive months that I can remember in a very, very long time. Definitely since the March bottom. Okay, and we've had some incredibly aggressive months. I think this month you started seeing a lot of names really take the next level, right? Next level moves in stocks like Zoom, which had a pretty great quarter. And again, forgive me. I used the word direct benefactor. I'm so tired. It's obviously beneficiary. One of my tweets, but they were obviously the direct beneficiary of the whole stay at home movement. Okay, everybody used it. I use it. My kids use it from home. Universities use it. Everybody use it, right? So, the only question was, was the stock going to give back some gains? Or again, is the market going to embrace the kind of the euphoric stays we're in and yada, yada, yada? We kind of got that move and the stock is trading 360 after hours. So, we're learning here as we're getting, you know, kind of to the second part of 2020 as horrible as it is with all the deaths and the COVID and the direct, unfortunately, effect of Main Street America. Again, if you're not part of the market, you know, you're having a tough time. You really are. A lot of families, unfortunately, lost their jobs or had to close down their businesses because of obviously the terrific pandemic, but the market continues to go. Okay. And unfortunately, you know, I don't have the answers for the world. Okay. I don't know what the best thing that people can do for, you know, for themselves. The only thing that we could have any type of control is the market. It's trading every single day. And I think the idea of trading day to day, analyzing what could be our worst case scenario, not what could be our worst, our best scenario. It's our worst case scenario. Because again, if you close your eyes and trade with the rose-colored glasses, eventually you're going to give everything back. And I think we're kind of getting at that point now that slowly but surely, you know, I'm going to start looking at more kind of a defensive approach, not necessarily am I going bearish by no stretch of the imagination. Again, the market's still very, very strong. Again, I say this all the time, but the macro move, right? The macro move that needs to start kind of this unwinding or at least back-testing is any close below the five-day moving average. Now again, somebody could turn around and I can turn around and make that case tonight and say, well, we did get an inverted hammer. We are getting a blow-off, you know, blow-off euphoric scenarios with the Tesla's of the world, with the Apple's of the world. I could turn around and make a case. I can make a very, very compelling case that, hey, if you look at some of the names that did run up, they started putting in lower highs for the last four days, right? For example, I'll give you a perfect example. Like look at Facebook. Facebook had this really aggressive run and now for the last, you know, four days in a row of putting in lower highs and lower lows. So you could put on Microsoft, right? Kind of the same thing. You look at Google, right? Kind of the same thing. Again, even failed to take out the previous days high. Look at Alibaba. I had that really, really big run-up last week. And again, now it's just kind of four days in a row of lower highs and lower lows. But again, you could think what you want. The price action has to dictate. So I think going into tomorrow, I am conscious of what I see in front of me. Of course, I still like a lot of names to the long side. But I think we have to at least proceed like adults, right? And again, I say this every day. I don't care if I'm wrong. Okay? I could be wrong all day in my opinion. Once the market opens up, once the channels start to develop and they start to confirm, we're not trying to overthink here. We have an opinion. Yeah, sure. We have an idea of what we want to see or we should be seeing. But once the market opens up, these channels confirm the other way, we're going back the other way. It's been like every single day. Again, I say this all the time. Have an opinion. Have a bias going in. Okay? But again, it's okay to be wrong. Okay? New traders again. I know people on social, I'm afraid to be wrong. I don't want anybody looking me like I'm an idiot. Well, I'm a king of the idiots. Okay? I'm chief one. Grand Puba. You can't get no higher. I'm the biggest idiot in the world. So I don't think. Okay? I react to what I see. And the most important part is once you're collecting data and that data gets skewed or gets confirmed on the other side of the market, you have to be very, very flexible or you're going to get run over. This market is not going to give you 30, 40 minutes, two hours to figure out you're wrong. It's going to prove you wrong very, very aggressively. And if you're not, you know, if you are trading with the blinders on and you are not looking at some of the data that could turn into confirmation, you're going to give back a lot of your money. Now again, a lot of new traders, again, and I say this on the bottom of my heart because I know a lot of you guys do have kids, do have, you know, responsibilities. So the fact that a lot of people are still writing this test, I applaud you. Okay? I can't be any happier for you. But remember, one trade is not going to make your career. Okay? Again, remember, great trade, do it again. Right? Great trade, do it again. So think about that. You know, think about that next time you're giving an opinion on a trade. You're doing great. It's amazing. Have an understanding that eventually gravity will kick in. Make sure you're booking money on the way up. Understand that again, once a trend reverses, it's going to be very aggressive. I know I saw crazy ridiculous bets 600 weeklies, 700 weeklies today, insane moves on Tesla. But again, just my two cents, have a plan, have an exit strategy and again, put yourself in a position again for the long game. And this is kind of what we talk about all the time. I didn't trade a lot today. You know, I scalped some of the video. I scalped some beyond. It was actually a pretty good day. It was the end of the month. Again, mentally, it's hard for me to end my month on the last day of the month or start my week on the last day of the month. So I kind of took a little bit easy, traded a little bit of cash for tomorrow. Obviously, the first day of September, I'm going to get obviously more aggressive, market, obviously market dependent. But again, I am conscious of what we just talked about, possible inverted hammer. We'll see, right? We'll see what happens. I think we'll get our clues very, very early tomorrow, probably within the first candle or so. So if we start seeing a lot of names, putting in lower highs, get stuffed on 60 minute supply, then I want to start looking at the names that are really, really exaggerated for a possible roll over. Again, I'm not talking about Armageddon. I'm not talking about retesting the March lows. We're just talking about trade by trade, right? Cash low, trade by trade. And if we're wrong, again, we could always trade the other side of the market. So let's talk about today's session. You know, pretty good stuff. Pretty good stuff indeed. Let's talk about here. Let's go all the way back. Ironically, right? Ironically, the only stock I lost money with today, I lost 15 cents on this crap right here. I was up a nickel. Okay. That was my only losing trade today. So let's talk about this. Obviously, NVIDIA 526 was the big number. It exploded. I'll give you a really good indication of a pivot a little bit later. Domo was a little too thin. I didn't trade this thing. It was a little too thin here. You know, again, it took out the high of the day and pretty much close. If you're in this thing, good job. 39, 75, 40, almost went to 41 and changed. So if you're in this thing, great job. Way too thin for me. Chewie had initial decent spike here. 61 needs to build. Here was Chewie, right? Here's his 61, right? Here's his, excuse me, here's his 61. Went to 61.85. Again, still looks pretty good building on top of that Bollinger Band. Monster never got to, never broke 85. Alibaba, this is kind of my whole point. A lot of these names, again, start putting in the lower highs out three, four days in a row. Again, it could be something. It could be nothing. We'll see. We'll see you going tomorrow. Never got there. PLAY and never got there. Chef never got there. INB triggered close to the close. This thing looks really good here. 1040 needs to build. Here was INMB, right? So it took out 1040, trade as high as 1080. I still like this thing tomorrow. If this thing can just start building around that 11 area, you could stretch this thing out to 12. This thing was a big, big runner over the last couple of days. So good job if you're still in this thing. This is the only crap I lost a little bit of money on. Netflix, big move on Netflix. We talked about possible moving to the 530s. 527 needs to build. Here was Netflix. Kept on getting rejected here. Kept on getting rejected here at the 527. Finally took out, oops, excuse me, wrong channel. There we go. I know it looked a little crazy. So 527, 527, 527, 527, finally took out 527, traded right to supply at 532. If I could reclaim tomorrow, I'd definitely still like it. We saw a lot of 550 weeklies coming in as well. Roku, there was actually a better pivot than 75. I'll talk about that in a second. I call it Beyond. A nice move on Beyond. Beyond 3550 needs to build. I scalp this crap. I say crap the nicest way possible. But here was the pivot right here off this 13550, traded right to the 138 and change area. Why was it so important? Because that was the Friday's highs. It got rejected. So this is the range going forward that we have to like. But again, decent move there as well. Amazon was definitely the bigger mover of the day. I unfortunately did not take this trade. Again, I was like, ah, I'm a little lazy. It's the last day of the month. All it did was put up a $70 move. I didn't need that in my life, but it's okay. If you guys, I know a lot of you guys caught this trade. I definitely did not. So here was the break right here. This 34, 34, what was it? 34, 38. Where the hell did I say it? Excuse me, 34, 35 needs to build, right? So it takes out this 34, 35 and trades right to a little under $3,500 a share. Again, 3,600 weekly call buyers came in many times in the morning. So you have to watch for continuation. As we say here, 3,600 weekly is coming in. Boeing, I like Boeing still lower tomorrow. 17240, 172 if it builds below can flush. Not really a big flush, but again, you can see here it closed roughly at the lows of the day. I think it closed below that 17240, 172 area. I think Boeing is in trouble. It just could never muster a rally if the market does get any type of pull. It's the first one to go. Keep an eye on this thing tomorrow, guys. Below this range here, if the market especially flushes, you could get a move down to the 65 level. So keep an eye on Boeing again for tomorrow. Netflix again, 550. That was a big move there in the afternoon. Yeah, take on the way up, 530 on deck. Yeah, so here is the sneaky pivot on Roku. 174 rejected twice, needs to build. So here was Roku in the afternoon, right? Here was the 174. Here was the 174 right here. It's the highest candle into supply. If you ever watch the PS60 workshops, you understand stocks need to confirm the highest areas of supply and the lowest areas of demand to go higher or lower. So 134 and perfect. A trader right to the supply zone of 175, 50. Again, I still like Roku going into tomorrow if it can start confirming this channel here. So, you know, look, I'm definitely optimistic. Okay, I'm definitely optimistic. Also what I like just kind of a side note. So I don't trade, you know, I don't trade many biotechs, but we've been seeing the biotech sector kind of really just really fading down. AstraZeneca came out some sort of COVID news after the close. Nice little reversal here. I think for all you guys that trade the IBB, if they could close, right? If they can reclaim 136.50 on a close, you see this whole area here? If they could reclaim 136.50 on a close, you could get started getting the next leg up. So keep an eye, you know, definitely, definitely keep an eye on that as well. So end of the month, guys. I can't believe tomorrow is September 1st already. Where did this summer go? Right? Where did this summer go? Anyway, guys, have a great night. God bless. Stay safe. Be happy. Smile. Love somebody. We only live once. Guys, God bless. I'll see you tomorrow.