 So you have to look at levels that are going to be less sexy than the social media crowd. Less sexy, dare I say it, than Wall Street Betz crowd. 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, good evening everybody. Welcome to another edition of The Access to Trader.com. Weekend update show. Hope everybody is doing well. A lot of stuff going on in the markets, but the theme continues to be bull market, very very aggressive, speculation money all over the place, euphoric markets. And it's something I learned this week, actually not this week, I learned on Friday I believe. I never heard of the word or the website Wall Street Betz, I've never heard about it in my life. And everybody kept on talking about how Wall Street Betz is like the Robin Hood, whatever the hell they are, they run up stocks and they all kept on saying my stuff. So I actually went on the website, it's like fully eyes don't know maybe I'm the only one who doesn't, which is found now, but it's a message board. It's literally people posting and apparently this is like the next driving force behind speculation capital, which when you hear about it for the first time, you say to yourself this is just absolutely doesn't even make sense when people are posting on a message boards getting together and running up a stock. Think about this for a second and again maybe it's true, maybe it's not, but think about it for a second. Who is on these message boards? There's nobody there with any big significant buying power. These are pretty much small retail traders who are trading dollar, $2, $3 stocks and they're all buying 100, 500,000 shares of these things and they're making a little bit of moves. So the idea that a message board or the Robin Hood crowd is really running up stocks is in my opinion a little bit crazy and I understand there's so many retail investors and they all jump on the same thing at the same time, but think about this also institutional money flow and if institutional money flow is a seller, I don't care how many people join forces together, you get one seller in the crowd and every single one of these Robin Hooders slash Wall Street bet guides, they're going to get stopped every single time. So listen, is there some sort of truth behind this? Maybe a $2 stock or $3 stock, whatever the case may be, but when you start getting into higher priced stocks, it's very, very hard for me to believe that a Tesla move is retail oriented or a move, for example, like a GameStop and I think this is one of the more interesting of the moves for the week. For all you guys who don't know what GameStop is, they're a brick and mortar, primarily brick and mortar video game, buy, sell, trade-in, I'm sure they have some sort of online presence. This is kind of like the video game version of Blockbuster, right? Blockbuster video for all you guys who are not old enough to understand this. They were a brick and mortar, they used to rent out DVDs and video cassettes and some video games at the same time and they kind of went out of business and there was a monster short squeeze on GME. This has been a company just to kind of paint a picture. This has been a company that number one, everybody knows that the video game industry is all online, streaming, whatever the case may be, so there's never a doubt in anybody's mind who actually understands the brick and mortar business that this stock or this company is going to survive if they don't go eventually 100% digital, 100% streaming, just like so many other platforms. I think a lot of people got this wrong. A lot of people saw GameStop had a big, big move and for all you guys who are on social media, you kind of saw Citron come out and they had their quote-unquote research piece and they basically said, hey, by the way, you got to be out of your mind, this stock is going back to 20, it's going back to 10, whatever the case may be. The one thing I've never seen, I've absolutely never seen since I've been doing this for a living from the original, you have to sit on a desk, trade with other traders, to kind of where the social media generation is now that your social leverage is kind of your currency. Say what you want about Citron, a lot of people think what they do is a little bit unethical, there's nothing illegal what they do. They are making their research report and then releasing it to the public. Again, that's a whole different conversation, morality versus legality. It's legal, it just might not be more, we'll get to that in a second. But the craziest part, what I saw in my 21 years in my life, I've never saw this, and a lot of people will make a case, well, this was the Reddit crowd, they ran it up. Let me tell you what I think is going to happen. Number one, Andrew Left, who runs Citron, he came out and said we are giving, I believe it was a $20 target for GME and they started hitting down GME and obviously in any market that is sophisticated with dip buyers that has no fear they're going to drive up the stock. And then he went a couple of days later, he started making the rounds from social media platform to platform to platform to platform to platform spilling his case of why the stock goes to $20. And then he made the most insane statement that I think I've heard in about 20 years. He came out and said, hey guys, by the way, this stock is completely easy to borrow and anybody can feel free to short it, I'm paraphrasing. And that just basically opened up the doors. So if guys with big capital behind them, right, a lot of buying power behind them, whether they're retail or hedge fund or pension, whatever the case may be, one state you made that statement and hey, by the way, I'm short a huge position in the stock, hey, by the way, it's easy to borrow with my comments on every single social platform. I'm going to entice retail investors to come join me on what I believe is going to be a crash back into the 20s, back into the teens. They just opened up Pandora's box and once the stock did not go down after he was making rounds over and over again, there has been a lot of talk and this is this is unconfirmed, obviously, a lot of people just turn around and say, well, wait a minute, we're in a massive bull market. This thing has a massive short interest. There's just the next round of shorts. This guy is stuck in a short. He's telling everybody you're short. The easier place to squeeze him back out. And what I saw Friday was probably the most aggressive squeeze that I can remember in a very, very long time, you know, the till raise of the world. Some of the other names in years ago. But this was an absolute catastrophe if and this is why again, guys, you don't jump in when somebody on social media tells you to jump. Okay. The word research all of a sudden gets validated when somebody has an opinion. I could turn around and say, hey, guys, I'm, I like IBM's alone. I like IBM's a short. Nobody cares. Somebody comes out with the word research, right? Attach their title. And this opens up Pandora's box for all the emotional traders to jump in, you know, the retail traders to jump in without even understanding what the ramifications going to happen. And on Friday, this was just an absolute destruction and 24 hours, and this is the craziest part, 24 hours after the guy came out and said this, you know, to anybody who would give him an ear to a platform to kind of convey his message. 24 hours later, they said, you know, we've changed our policies. We're not going to discuss our short positions anymore. I mean, I could have told you that I tweeted that out the same day. I said, look, I'm not the sharpest tool in the shed, but even I know not to tell everybody how much of a short position I have, how much exposure I have. And oh, by the way, how easy it is to borrow. So guys, if you are a social media jump, you know, and react and emotional trader, just trust me, do your homework. No, it doesn't make a difference how much regard you have somebody in your mind, always do the research, always do the, you know, do the, you know, have a feasibility study that your account is not in jeopardy because not only did the people who got fresh shorts got killed in this thing. You know, fresh long has got killed in this thing as well. Chasing this thing to $75, $77 as well. So be careful, folks. Again, at the end of the day, no matter what happens in the market, bull, bear or indifferent. Okay, bull markets come, bear markets go, but your process, your absolute process is the most important part that's going to stay with you until you choose not to do this anymore for a living. And it's very, very important. And this is one of those markets that anything is possible, and everything is possible, and everything becomes, everything comes into fruition because this is a snowball effect of euphoria, stimulus money coming into the market, people unfortunately losing their jobs and their livelihoods, turning into the financial markets to kind of compensate. So you're getting a tremendous snowball of very, very aggressive emotional, aggressive new breed of quote unquote trader. And unfortunately one day it's all going to end, but again, unfortunately, take your money now and hopefully you can hang on to it a little bit later. Other than that, what are you going to say about the market? Right? It's an incredible market. You know, what are we going to do? Break down how strong the market is. It's strong. You know, everything is at all time highs. The key right now and continue to be is wait for, is wait for stocks to come out of channels, look for value. The biggest key, the biggest takeaway I had from 2020 to where I am right now in 2021, in 2000, excuse me, in 2000, I didn't believe that the internet craze was going to end. It ended, right? It ended and it took a piece of my life with it, okay? So that's the difference where I am right now. I don't look at this as a lottery ticket. I stopped looking at this as just some magical time of my life for what one person looks at as the greatest market of all time. I might look at it as a Monday when somebody turns around and says this is the most life-changing market of all time. It's a random Wednesday and not because of the dollars and cents because some of us have been doing this for 20, 15, 20, 25 years. This is business as usual. If anybody's been doing this for 15, 20, 25 months, this is the your ability to kind of quote unquote, change your life. So take it for what it's worth. You know, one day at a time, one trade at a time and the value in this tape continues to be stocks that are coming out of a bottom. And somebody would turn around and say, how can you, you know, where are these bottom stocks? There's plenty around. The fact that beta went sideways for two months that didn't do anything gave a lot of value. Matter of fact, if you look at the tape this week with a 4% move in the NASDAQ, you can see where the big volume came in. If you've been watching this kind of, this broadcast of the last week, you saw the value, you know, Amazon coming out of the bottom of the range. NVIDIA, right? NVIDIA came out of the bottom of the range. Facebook, and we'll get to these pivots, especially on Friday the second, Facebook came out of the range. Apple, right, came out of the range. And it's not just beta. If you look at the biggest moves on Friday, for every one of these CCIV monster movers, and again, right, this is the euphoria. But for every big stock that people are chasing from $10 to 23, there is a PLTR, right? There is a PLTR. And look at the common denominator. It came out of the bottom of the range. If you look at a FUBU or FOLBO, whatever the hell it's called, right? The value is not up here, because again, ask the people up here what happened to their capital, right? When they chased, they all got killed. The value is coming out of these two channels. And again, we'll get to the pivots in a second. But that's where the value is. You could still get a lot of value in this market, but you have to put in the work. Anything that ran up 15, 20, 50%, 150%. Yeah, of course, you could make money and you could get lucky. But that money is likely going to be taken away from you when the carnage begins and the carnage starts with contracting channels, buyers get tired and they start jumping into something new and slowly, but surely it starts a domino effect. So you wanna stay safe. Remember, there's only one breakout per interval. Everything else is continuation. So for example, on a FUBU, right? On a FUBU, the breakout at this level was right around here, right? This is $32.73. At $60, you're a fool, right? If you bought the dip at $55, you're a fool. Just because, not because the stock is cheaper at $55 than it was at $65, but the stock broke out of $32, right? Broke out of this $32 level and look where the stock found its support, right? Found its floor. So you have to look at levels that are going to be less sexy than the social media of crowd. Less sexy, dare I say it, from the Wall Street Bets crowd. Again, I've only learned about this name just Friday. Imagine, imagine, imagine just a message board controlling the market. Anyway, so that's where the value is. And if you are doing your research for this weekend and you go through charts, you'll see a lot of names that potentially could wake up again. Zoom, right? Zoom had a really, really big run, consolidating held the bottom of the channel. Most people are not going to turn around and say, wow, this is a great looking chart. But for me, this is a good looking chart. Maybe not here, maybe not today, maybe not Monday, but there's a channel that I'm watching before this area here, that could be a beneficial firecracker, fire started to name. A name like Tesla that everybody's watching at the top of the range here, there is a channel, right? At the 60 minute view that I'm watching before the quote, unquote retail public starts to even realize what's going on. So there's a lot of value still in this tape, but you have to put in the work. You can't just be, you know, you can't just be in the mindset that it's a bull market, I could buy it at any price and I will be rewarded. That's false. A name like Beyond could wake up again, right? Had a really, really big run, then it got downgraded to a sell. And again, look at it, the range is setting up. It may be not obvious to a lot of people, but there is some value there. Will these stocks go before they report their earnings? Maybe, maybe not, we don't know, but the most important part is do your research. I did my research today for about two hours. I usually get my chart work done in about 45 minutes. I went through a lot of charts. I could have easily put on 30 stocks to watch for Monday, but the problem is, and this is kind of a common occurrence when you see a lot of new traders fall victim to this, they watch everything, right? This one looks great, that one looks great. This is, I have 10 stocks in front of me. Everything looks great now, that's the point. Everything looks so good and everything looks like it could put up that 50% candle and 100% candle. The problem is when you're watching everything, you're gonna miss everything, okay? Take whatever your process is, whether you're trading pivots with me, or you're trading futures, or you're trading small caps, whatever the case may be, whatever your drug of choice is, and narrow your trade search and trade setups to names that number one have a channel that haven't come out of this channel yet. They're waiting to confirm this channel, because remember, the longer the distribution in a channel, the higher probability it's gonna move and move very, very aggressively. That's why stocks like FUBU and PLTR and all these names had really big moves in the last 24 hours, because they're coming out of really, really long distribution. And stop chasing psychological subconscious performance. It doesn't make a difference. If you missed PLTR at 28 on Friday, don't pay $48 for it next week, right? If you missed FUBU at 33, at 34, at 36, don't pay $45 for it for next week. It's very, very important that you take the names that haven't gone yet, right? Put them in front of you, and those should be your concentration points, because again, if you are looking at everything, everything in the market that already went, subconsciously what you're doing is, you're trying to chase and emulate past performance of the opportunities that you already missed. All of us do that, okay? It's very, very common, but if you do put the blinders on and you do concentrate, there's a lot of value still in this market, especially before the mega caps report this week and the following week, following is a lot more names as well, but there is still a lot of meat in this market. And if you are looking at the right places, you could definitely identify it and curbing your risk at the same time. So let's talk about Friday's session. You had some really, really big boovers. You really did. This week, Netflix did a great job. We talked about this a couple of videos ago. You had great subscriber numbers. I believe they talked about a potential of a buyback, but the most important part because of that 90, $95 move, the stock was dead, was dead for a long, long time. And now it's kind of consolidating this $95 move. It had a couple of days. It had a couple of days that it kind of did anything. It actually caught me for $2.50 on Friday. I was actually very surprised that Friday Netflix didn't rally. I bought it on a red to green second entry move. It ran up about $1.50, $1.70. And I'm talking about in seconds. And then two seconds later, I lost like $2.50 on the bottom of the range. And then it wound up going down like $7, $9. I still like it, but it's just very, very odd that it didn't really go aggressive on Friday. But more important, it did wake up the stock. So we had some massive pivots this week on Amazon and NVIDIAs. NVIDIAs continues to be my number one stock for the start of 2021. I have no idea why, but it's been great on the long side. It's been great on the short side. It's just been great. And now earnings will obviously be a catalyst. But if you look at Friday's session, very aggressive. Again, that's kind of the mantra for 2020, 2021 to start, very aggressive names coming out of channels. And again, the common denominator is looking for value. So let's talk about this. CRM, not a big move. This should have been a bigger move. CRM was at the bottom of the range. CRM was at the bottom of the range. They got upgraded by Goldman Sachs. They had a perfect chart. We talked about $225, $75, $226 for a possible move. And it did it, right? I mean, it had the move, right? $226, it went to $228. I am kind of surprised that it didn't reclaim that $228, especially how strong a lot of names were and made a move to $231. But again, if you look at the price action, it did kind of stop at supplies. If you did take a good job there. Facebook was a monster, $273, $75, $274. Again, look at the common denominator. Facebook wasn't coming out of this monster channel. Facebook was reclaiming the 50-day moving average. So Thursday, it stopped at the 50-day. Friday, it took out that $273, $75 area. And the stock traded almost $279. Really, really big move. That's where you want to look at stocks that are coming out of middle channels. Netflix, this is where I lost some money on Netflix. Space 34, quick scalp on Space 34 needs to build. I still like Space. I do, I still like Space. Here's the $34 channel. Again, it wasn't a big move. That's the whole point. We knew it wasn't going to be a big move because there was supply here in the $34.50. It was just a quick move. But now it's actually definitely setting up for this higher prices for this week. Fubu, I miss Fubu. I was at lunch. I was at lunch. For the hour that I was gone for lunch, Fubu went from $36, $36.20 and just absolutely exploded. Right, so here's the $36.20. Came out of this sneaky channel here and put in a high of roughly $38. Right, we told my value. Here is the value. It's not up here. The value's up here. And again, I still like the stock for higher prices. The big range is going to be right here off this $41.50 level. As you can see here, it got rejected several times, but there is definitely a pivot before that. The video never got to $5.60. AMD, great call by Ivan in the webinar. $94.20 rejected twice. Needs to reclaim. Here was AMD. And you can see why I said $94.20 is a big number. Here was $94.20. $94.20. Oops, I'm sorry. I knew it looked crazy. AMD, I'm sorry. I typed in Amazon. Right, so here was $94.20. You see that? $94.20 got rejected once. $94.20 got rejected twice. Once it got above the $94.20, huge, huge move to $96.00 for AMD. NNOX never got to $70.00. I kind of like it. I still like this chart at NNOX. Got rejected off the $69.00 level. LU never got to $16.60. I still like it. I'm still watching it for this week. CRM, New Highs, FUV. FUV, there's certain names in these EV space that are very disappointing. FISCR is very disappointing. If you look at two names that could have really, really ran. FISCR actually is a real company. Very disciplined. That one big run with EV and they just did nothing the same. FUV is also in the EV space. I really like the channel here. Never got up to there. I'm still watching this thing, but it was very, very weird how it didn't really follow through. So never got to the channel that we were looking at. PLTR went absolutely out of its mind. $28.00 needs to build. Just follow me here. 28.30s was first supply as the initial move. And then a reclaim that went to 29.30s, right? And then 30s in the next stop. It took out 30s. And PLTR just went to 32 and changed. I still like it. This probably looks like a 52 week high tests coming up in the next day or so. I believe they come out with earnings, not this week, I think the following Thursday. Please double check. But this is a perfect case of if it opens up red and tests the bottom 60 minute channel, you have to, you almost have to buy the stock there and watch the potential move to red to green. And if it takes out the 52 week highs, look at which room you have, 36.38. So there's a lot of potential on PLTR as well. And I believe that was it. So this week, I am looking at names like a Zoom. It might not be sexy, it might not be obvious, but if certain things happen, ZM is gonna light up like all these other stocks. Beyond, maybe it doesn't go Monday, maybe it doesn't go Tuesday, but this whole range is building very, very nicely. Tesla, everybody, again, everybody's watching Tesla, right? Everybody's watching it for this range here, but there's a couple of channels that if it confirms, maybe we could steal $5, $7 before quote unquote, the retail crowd moves in as well. So there's a lot of value coming up this week, but the key is stay grounded, turn off social media, all the talking heads and the opinions and the booms and the wows and the Wall Street bets and this one and that one, just concentrate on being the best you can possibly be. At the end of the day, it's process over everything. Guys, God bless, have an awesome weekend. May God continue to bless you in all your journeys. And with God's help, I'll see you all on Monday. Take care, everybody.