 Welcome to Access to 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, giving everybody welcome to another edition of the Access to Trader.com netly wrap up show. Hope everybody is doing well. You know, it gets crazy and crazy, right? So yesterday we had that, you know, 12, 1300 point move in the Dow. Big moves all across the board. Again, if you watched last night's video, I kind of said it, you know, I'm open minded. You know, let's play, you know, let's play everything one day at a time, one trade at a time, because again, before things will get better, especially with the virus, right? Things are gonna get worse. It always does. And today was one of those days that when you try to explain to somebody exactly what happened today, there's bits and pieces that you could actually put in front of somebody and say, oh yeah, okay, this is what happened. This is where things went wrong. This is where things went right. And then there's no parts of the puzzle here that, again, that square just doesn't fit in the triangle. And this is probably one of the wildest days I've seen in a while. And it wasn't that we were down 3% all across the board. I think we're kind of used to this now. You know, we're like a week and a half, two weeks in of this type of action. What I saw today was the most aggressive, the most aggressive damaging market structure you saw in a very, very long time. So kind of let's review. Okay, kind of let's review what happened today. So we had the initial move push of the futures up. Tesla got another upgrade. Everything was gapping up. And then the futures went red. Then the futures went up at the open, and then the futures went red. And then they went red again. And then out of nowhere, the Fed cuts rates, right? They cut rates and you see this really aggressive, like really great, let me just show you in the five minute, you see this really aggressive candle around 10 o'clock, right? So the cues literally go from 213 to almost 220. You got a $7 candle on the cues. Cut rates, right? It's all good. We're all happy. Amazing. Ironically, I was long Apple about two minutes, two and a half minutes, which I caught a nice remount on Apple, authorizing support. And it was fine. I made some money there. But two minutes later, Apple put up a $6 candle. I didn't need that in my life. So that's fine, right? So people now are all freaking out. The robots are going crazy. The algorithm going nuts. Everything's going nuts. And then people realize that they're cutting rates because of what potentially can happen to business, global economic structure with the coronavirus. And then people turn around and say, wait a minute, what? What did you just say? And then next thing you know, you see this, right? So the market starts selling off. Now it was very, very important that we had that kind of dead back snapback, whatever you want to call rally yesterday. Because it was kind of, you always want to see an initial stage of buyers buying markets on bad news. And I said today in the webinar and I said, well, let's see how the market, let's see how they handle this first washout, right? So they take the market from Dow up 300 to Dow down 100 to Dow up 130, right? Now keep this in mind, stocks are not moving 20, 30 cents at a time. The spies are moving up. I mean, if you watch the spies and you watch some of these other spies are moving up like 60 cents a blink. Every time you blink, blink, blink. That's ridiculous. Absolutely ridiculous. And you're seeing stocks like Netflix, Apple, I mean, they were moving in not not an Apple, but Netflix was moving at a 75 cents spread. There was like one trade per interval and they were, you know, $2, $3, I mean, just absolutely sick. And they got stuffed and then they sold off and they bounce again and they really, really got sold off again and again. We're seeing more cases Washington State, this one, that one. So again, we talked about this yesterday. I was bullish going into today, at least long-sighted bullish, right? They gapped at the market. They sold off the market. They gapped at the market. They cut rates. They rallied the market. They destroyed the market. Everything's all over the place. And the craziest part about it is if that wasn't crazy enough, right? Because the action was so aggressive, the vendors, right? Your platform, your brokers, a lot of you brokers weren't, they couldn't catch up to the speed, okay? They couldn't, you saw late dissemination of data. So when you have a fast move in market, and I know a lot of people are complaining about, I think, think or swim, I know Robinhood, I know the Robinhood effect on the market, but you know, they were down. They couldn't handle the speed, whatever the case may be. I think think or swim people having some problems would as well. So you had this crazy move in the market. You had market structure going to crap. You had latency in data dissemination. You had all these different things. And by, like, 10, 15, I was like, yo, I don't want any piece of this. Like, I just don't want any piece of this. It's too damn aggressive. At this point in the day, I caught that little stock, MITO, for a nice bounce. And then I caught Apple for a nice bounce. I was like, all right, cool. You know, this market is just going too crazy for me. I'm going to wait till 11 o'clock. I want to see things kind of die down. And the one thing that I will tell you is, you know, I've seen some things in trading. I got caught in a bunch of things in my career in trading, all that good stuff. But the scariest thing, scarier than getting hit with a PR, scarier than getting hit with a reload seller, the one thing you don't want, if you're a trader and you're a platform, if your platform, for example, lets you down, like I heard this from so many people, my God, I had this $2, $3 profit on Netflix. I tried to sell it. I couldn't get out. That's a problem. Trading is impossible to begin with, right? Impossible to begin with. You throw in the elements of a fast-moving market, a dramatic negative catalyst, a dramatic positive catalyst with the rate cut, latency, deficiencies, data dissemination, and you had yourself an F and mess. That's all there's other way to say it. You had yourself an F and mess. And I said to myself, wow, you know what? I made some money today. I'm going to just chill out. And then I said, all right, you know what? There's a couple of things I like here. So, you know, I started nibbling away. And usually I wouldn't trade. After I make my thought, I say, yeah, I don't want to trade. So I started nibbling away, right? I started trading a little more. So for some reason I bought, there was a call sweep on overstock of all things. Okay. So I buy overstock. It doesn't do anything. Market comes in. I wind up losing a dime. Okay, whatever. No big deal, right? And then you see this. And this is something you don't see in a very, very long time, right? You see this. So forget about these pivots here. Roke who didn't do anything. So Netflix explodes, right? Explodes. 383.50, 384 explodes, right? It's all good, correct? All good. Follow me on this one. So this is what Netflix does. So it explodes out of this range and puts in a high of 393, right? You're talking about a $10 pivot as the market's coming in. You have call buyers. It was like people were buying hand sanitizer and Clorox wipes. They were buying those 400 calls like this is the last day to buy calls. So the market comes in, the market comes in, and the market gets down to around here. So what I do is I don't realize how aggressively the market's selling. I try to buy Netflix on a dip. Remember, $12 candle to the upside. It comes in seven because of the futures. I didn't realize how aggressive the futures were. So I buy the rebound. The problem is the futures were tanking. I didn't see the futures tanking. And the one thing that I saw on Netflix on the way up, 70 cent spreads, dollar spreads, whatever the case might be, well, I was caught in that on the way down. And next thing I knew, I sold the stock down $2. Pretty much gave back, yeah, I think I did give back my day. I did give back my day. I didn't have a big day to start anyway. So it wasn't the point of the money that annoyed me. Two things annoyed me. That I knew that market structure failed us today. I knew three hours before that. I had no business trading this market today. After Apple, after I caught this MITO, I think it was a symbol, I had no business trading. But I figured, hey, look at all those 400 call buyers. The market is going to bounce. It's going to hold this level. The spy is going to reclaim that 299, 300 level. All these things are going through my head. And I'm watching this futures tank and everything is going good. And I don't realize that Netflix trading at 80 cent spread. So it doesn't take a lot for Netflix to come down after it's trading at $2 spread. So I sat there, sat there, took a $2 loss, pretty much wiped out my whole day. And I said, well, it's not because of the money. It's always because of the money. It's not because of the money. I felt like I did something stupid, right? I knew I was doing something wrong. I still did it, didn't look at the futures, didn't look at the aggression of the selling, didn't look at the spread, didn't do all those things, traded a complete amateur. I caught in a weird way kind of a weird FOMO aspect, although it's not, right? Figure a $12 candle comes back six, five, whatever the hell it was. It should remount and go. Never did that. So yada, yada, yada. I got nothing accomplished on the day. And that sucks, not from the monetary point of view, just because it's a constant reminder that schmuck, if you're going to trade, right? If anybody's going to trade for a living, you've got to be smart, okay? When there's fire, you don't go into the fire. You go away from it. And today was a perfect example that, again, we could be disciplined 1,000% of the time, right? That one time, that one time. And again, I'm very, very happy that today turned into a paper cut. Again, there's nothing to talk about from the monetary point of view. There's nothing. It's not even a paper cut. The point is it was annoying as hell. I knew what I was doing was wrong. I still did it. Was careless enough not to watch the futures. Had all this evidence that I should not be in the market today, right? Just not in the market today. I still sat there, right? Still sat there like a complete chump and yada, yada, yada. I'm here, you know, no worse, nowhere, no better than I was yesterday, but very, very annoying, very, very annoying to myself. If you look at the day today, there was two very aggressive pivots. Nothing else triggered, okay? Nothing really triggered today. Roku didn't trigger. Netflix won. Bananas. Amazon never got up there. NVIDIA never got up there. Facebook never got up there. This thing was trading at a dollar spread. Nobody even cared. Nobody even traded this thing. Netflix 86 on deck. This was before it went up another seven. So everything was annoying as hell. Oh my God, this thing is still going, but here's where the big flush came towards the afternoon. For all you guys who did catch the trade, it was super, duper aggressive. Tesla got upgraded. Big level came into the 60 minute and bounced 19 points. So I knew right there the 751, 750 with a confirmation, right? With a confirmation, and I joked around here. You know, I joked around here exactly what happened in the day. And I knew that 748 was me a big spot. And that was also the five minute correlation and needed to build. So I said this thing had a shot to get the 711 and it got destroyed. I mean, Tesla got absolutely destroyed. Here was the 751. Here, excuse me. Here was the 751, right? 751. It went all the way down to the 716 attached shot of 711. And so I know a lot of you guys did catch that move. Congratulations. I did not take it. You know, why did not take it? Because I figured the market gods were already against me today. I already proved my point. And I knew if I was wrong, it's one of those days that, you know, anything that you do is going to be wrong. So I didn't take the trade. I didn't take it. Okay. I watched it go down about, you know, I watched it go down about 35 points. And you know what? In a weird way, I was okay with that, right? And okay with that. Because I knew if I was going to take the trade, I was going to go down $2, $3. And then squeeze $15 in my face. So I made that choice. Today is one of those days that you have to remind yourself of how incredible fragile we are as traders, as human beings, how flawed we are. And yet sometimes we still act on those flaws. So slap on the hand. Tomorrow is a new day. Got to be smarter. Anytime, guys, just in the future, anytime you see stocks trading $1, $1. $52 spreads with futures bouncing all over the place, up and down, up and down. Just leave it alone. Leave it alone. There's nothing to do about the monetary result, the end game. Sometimes you have to leave things alone. I learned my lesson today. It'll probably happen to me probably in the next two, three months again. But again, thank God it was less than a paper cut. It could have been a lot worse. And that's the most important thing. We're trying to have always collateral damage even sometimes if we do trade like the king of the idiots. So going into tomorrow, again, you know, bulls had their shot. They gave it up, right? They gave it up. I think tomorrow, I think tomorrow the big level now on the QQQs is going to be this 20, roughly this 206 area, right? If they start building below this 206 area, we're going to have a problem. Well, at least the bulls are going to have a problem. I think that's going to be an issue there. I think the stocks that you have to concentrate on tomorrow. Okay. I have my watch list today is literally 100% on the downside. Casinos, right? The old themes, right? Casinos, right? Casinos are starting to crack again, right? Airlines, right? Here's the airlines reversing. L-U-V, right? Airlines, JetBlue, right? Airlines, cruise ships for tomorrow, right? You go all the way down the line. Cruise ships, casinos, airlines, travel agencies, Expedia, and booking.com, which I still don't understand why they chased it from Priceline. So you got to go with the theme and Tesla. I like Tesla as well to the downside tomorrow if they start confirming that five-day channel. So the amazing part of what we're seeing here is number one, you can obviously see you can make money on both sides. The common denominator is when you're making money on both sides, okay, you're usually patient. You are 100% in tuned, kind of like a wave, like a surfer's are with the market, okay? You're not taking unnecessary risk. You're not giving yourself unnecessary exposure. What you're doing is putting yourself in the safest, safest, most feasible way to succeed. I did none of that today, and that's why I'm kind of a little peeved off of myself. But again, short memory has nothing to do with tomorrow. It's not going to spill over tomorrow. Tomorrow we'll have a different theme. Tomorrow we'll have different players. But if I think the way everything plays out, the way I think it's going to play out, well, again, those stocks, and again, I spoke to people who've been traveling recently in the last several days, you know, airports, not really jammed, airplanes, not really jammed. Nobody wants to go on a cruise. I know casinos, this thing starts getting better. How many of you guys want to gamble with people right next to you, right? Breathing and choking and spitting and, right? Again, this is where we are right now. And just kind of on a side note, before we kind of log off for the night. I do believe 20 years ago, if you guys remember 20 years ago, 25 years ago, before the internet was so big, okay? Everybody got their news from the television primarily, right? Television, the nightly news, or newspapers. Everybody used to see people on the train with their newspapers, paid 25 cents for a newspaper, reading through the New York Post. Now, because we're such a now world, okay? Everybody's getting their information within seconds, okay? We really don't know how aggressive this virus is. We just don't know. I personally think, and this is my point, if you get worse, of course. This, God forbid, turns into something worse, of course. But I have to believe somewhere deep inside me, okay? That if this was 20, 25 years ago, you wouldn't see these every second headlines. You wouldn't see this, okay? The media, the financial blogs, all these media outlets, they're controlling the narrative. They know what sells. Greed sells, fear sells, right? Your money's in turmoil. You're gonna die. All that crap. So, just talking out loud. I'm just curious where this would have been 20 years from now, right? With five deaths, seven deaths in the United States. I wonder if people would be really paying this much attention and the markets would be causing this much uncertainty on the day-to-day basis. Just something to kind of think about. But, again, tomorrow's a new day. Stay patient, everybody. New traders. Just remember, you don't need to trade every single day. It's not really a conducive environment for a brand new trader. Yes, the bull market was there, and it was great, and you can tell your friends about it, but now it's over. It's not checkers anymore. It's all about chess. Guys, God bless. Stay safe. Wash your hands. Wash your hands. Damn it. I'll see you all tomorrow in the field. Have a great day. Congratulations for putting in the time to take control of your trading. You are one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? 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