 So my little piece of advice for tonight, if you're a brand new trader and you're starting out, try to gravitate to a group. 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.com nightly wrap up show. Hope everybody is doing well. Game five tonight, right? Go Yankees. We'll see what happens there. Fingers crossed. But let's talk about the market. So let's review for the last three days. Okay, so we had Thursday this CPI number. If you guys remember, we had an ugly number, the market washed, got looked like it was about to be grim death for the same thing that happened on September the 13th. We had a washout, shorts got trapped, pretty big aggressive rally, right? Next day surely is how we're gonna follow through because that was obviously the bottom. What happens next day? Well, what happens the next day? The market gaps up, it traps longs at the market, at the top of the market, pre-market, at the open they wash and they sell the crap out of the market all the way into the close, which basically the Qs gave back everything they made the prior day. So going into today's session, we're obviously gonna have a sell-off, right? 100%, matter of fact, hell. My whole game plan is, hey, let the market gap up, right? So last night when I was sitting there watching the futures like, oh wow, okay, this is good. Nasdaq futures up 45 points. Ha ha, these bulls don't learn. They're gonna buy pre-market, they're gonna get stuffed into supply. And this is why we play the game. And this is why also this is the greatest reality show that's not on television. So you wake up this morning, the Dow futures are up 300, the Nasdaq futures up 150 and you say to yourself, well, hell, I didn't see this coming, right? But what's the golden rule, right? What's the golden rule on any gap up? 95, 99% of all gap ups in a bear market, especially after a previous day's sell-off are probably going to get stuffed into supply. So here I am, rolling up my sleeves, cracking my fingers. I'm ready to go, it's just a matter of time. Come on, come on. Tesla go red, Amazon go red, Apple go red, Nvidia go, I'm ready, I'm ready. I'm waiting, I'm waiting, I'm waiting. It's right now a quarter to five Eastern time. I think the ECN's closed at eight. Maybe I'll, you know, we got a couple of hours left. Maybe they'll come in then. So all jokes aside, just an absolutely crazy market. You know, I did not see this coming. I was waiting for the downside confirmation that never came, I'm waiting and I'm waiting, I'm still waiting. And it really does show you that the randomness of this tape, because again, if you look at the last three days, you could completely see the opposite happen of what we thought for the momentum. So when you look at the market today, and again, you had some pretty big moves today. Bank of America obviously, you can make an argument, banks are a most important group. They led the rally, the Dow went up 500 points today, the Nasdaq went up like 350 today basically, whatever it lost on Friday, made it back today. And the question is what happens next, right? We're obviously gonna gap up tomorrow and go higher, right? Okay, so here's kind of my point. And this is where all the randomness happens. We don't know what's gonna happen tomorrow, right? We absolutely don't know. Every single time the bulls have a little bit of prosperity in any type of follow-through situation, what happens the next day? You can clearly see this just off the chart, right? We had a big, big move next day, follow-through down. We had a big move next way down. We had a big move down. We had two big moves down. We had a big move down. And here we are. And here's the craziest part. As much as I sat there, I sat there and I missed the whole rally, I guess. I sat there and I sat there. I logged off a little earlier today. I had a couple of appointments, including in nutritionists, your boy is getting skinny. But more important, more important as I sat there and after the close, I went through some charts and I said, well, wait a minute, let me just see how where these charts are. And the one most important part of any technical analysis, right? That you can possibly do bare-bones technical analysis is very simple. The market where a stock cannot go higher, right? Not up, but a stock cannot go higher unless it takes out the previous day's high. Stock can't go lower unless it takes out the previous day's low, correct? So let's kind of use what we just learned. If you haven't heard that a million times already, let's kind of use what we learned and look at some random charts, right? You look at the QQQs, right? Even though the Qs had an eight-point rally today, it didn't take out the previous day's high. You have Amazon that had a really nice rally did not take out the previous day's high. Apple, nice rally, did not take out the previous day's high. You see what I'm saying? You see where I'm going? Tesla, monster, monster move. So it seemed, right? Considering it was down like 3,000 on Friday. Great pivot, by the way, right? As much as it was up 14, about two days ahead of earnings, it did not take out the previous day's high. You look at AMD, right? Look at AMD, did not take out the previous high, and NVIDIA, blah, blah, blah, didn't break out. And I'm sure there's some stocks out there that took out the previous day's high. I know, right? Like Snow, right? I get it. Snow took out the previous day's high and they had a nice little rally. But if you look at the predominant action, right? Look at the predominant moves in the NASDAQ 100 members, you'll see most of them did not take out the previous day's high. And the way the market is going, we don't know what to expect. And some days, we were sitting there at 1030, 1130, and I was like, wow, I can't believe this market's not pulling in. This is crazy. And I just watched the market go higher and higher and higher and higher. But you know what? That's the discipline, right? That really is the discipline. It's not about finding the right trade. It's finding your comfort zone. It's finding your balance of conviction and abnormality in market structure. And when you see something going in a direction that you don't believe or technically believe should be happening, the easiest thing to do is get blinded by the lights. Oh my God, the NASDAQ's up 200, the market NASDAQ's up 300, the Dow's up 500, the Dow's up 1,000. Oh my God, oh my God, oh my God. Next thing you know, you find yourself putting on positions or putting on trades that you just, you know deep in your heart, you're chasing. You know who you are. You're chasing the levels that you're not supposed to be chasing. You know, and you're chasing the levels that are about to hit supply. You don't even know supply zones are there. And a lot of traders just get caught by the lights. It's like the Times Square effect, the tourism, oh wow, look at all these lights in Times Square. And people that are touring in Times Square don't realize nobody lives in Times Square, right? They all live in the outer parts of Manhattan. And that's kind of what we saw today. I just did not feel comfortable. Okay, I saw a majority of the charts not taking out the previous days high. And by the time I left, it was just kind of more of kind of regurgitating the same thing over and over again in my brain. And I will tell you one thing. You know, I'm doing this now going on my 24th year. There was periods of my life, probably in the first 10, 12 years, probably in the first 10, that when I saw screaming lights and flashing lights and all these different noises, I would fall in love with them, right? I would fall prey to them. And I would so go in and then not come out in one piece. And that's the most important part. Guys, always remember, the market will always be there. It'll always be there, okay? It'll be there a hundred, it was a hundred years before us, it's gonna be a hundred years after us and on and on and on, okay? You don't need to trade because the market's open. You don't need to trade because somebody's telling you, this stock is going higher, man, hat backwards, right? The point is you trade because your process is being highlighted, okay? You trade because you feel comfortable. But more important is you trade because you get value. My whole game plan today was to the downside, right? Was absolutely to the downside. So when nothing came in, I just kept on watching and watching and watching and I'll tell you something, there's absolutely no regrets because I've seen so many opportunities, quote unquote opportunities in the first 10 years of my career via the last, the last almost 14 years of my career that I know that if I'm uncomfortable and I don't have conviction, usually bad's gonna happen, something bad's gonna happen. And to add kind of, I wouldn't call it injury, but kind of insult, right? Kind of insult to kind of a big FU to my game plan. So Schwab came out with earnings, right? So Schwab comes out with earnings today, right? Looks good, right? It looks good. Schwab comes out with earnings. This was one of the stocks we highlight on the weekend update. So Schwab comes out with earnings and they said, this is the best quarter ever. And I'm like, well, this damn thing goes red. This thing's gonna get hit. So check out what happened. Talk about the insult, putting a little salt in the wound today, right? So Schwab goes red, okay? Puts it in an opening range low and then it rallies, right? And then it rallies. I was like, ah, cool. If it takes out that opening range low, I'm gonna short this thing. So what happens? It goes red, takes out the opening range low, naturally I short it. It goes down like 30, 40 cents, turns around, right? Turns around, goes green again. So I ended up losing about a dollar. Not a big deal, right? Not a big deal. The insult was it went down again, took out a new low again and went down two and a half dollars. It went down almost, excuse me, it went down almost $3 on the third attempt. Obviously I didn't go back in. So here's the moral of the story of this little anecdote, okay? I've always maintained, stay in your lane. Know your sweet spot, right? Understand what type of trader you are. Not every single stock is right for you. Not every single stock is going to be for you. Because again, the reason why I think this is pretty much accurate. I trade the same 10 names 90% of the time, right? Tesla, Amazon, you know, the usual suspects, NVIDIA, right? Where it comes to random is when I start trading random names. Why do I trade the same stocks over and over again? I know their personalities. I know their average true range. I know how they're supposed to react when they take out a level. I know what they're supposed to do when they take down a level, right? I know all these things. I've been training them for years and years and years. When you trade random stocks, and I think a lot of you new guys and gals and everybody in between, for all you girls and guys who've been trading in brand new, okay? For the first two years, you guys are pretty much trading random stocks every day, right? A new stock here, the hot stock here, the hot stock there. Everything's a hot stock. Hot stock, hot stock, everything's a hot stock, right? And what you'll notice is what I kind of found out long, long time ago. When you trade random stocks, you're gonna get random results. These are facts. You don't know their tendencies. You don't know their personalities. And what, if this was Tesla, right? And it took out an opening range low after coming out with really good earnings. There's a high probability this thing would have been, we wouldn't have this conversation with the candle down here, but it's not, it's a random stock. So my little piece of advice for tonight, if you're a brand new trader and you're starting out, try to gravitate to a group, okay? I don't care how you trade, what you trade, but try to gravitate to a group. Whether it's technology, whether it's biotech, whether it's consumer cyclicals, whether it's retail, whatever it is, learn their habits, learn their tendencies, learn how they trade, when to trade it, when not to not, when to not to trade it, when they get aggressive, when they get passive. This has kind of been like kind of a blueprint, at least for me and the people in the webinar, for a very long time. I've been hosting the webinar for 12 and a half years. This is pretty much it, right? These are the same names over and over and over again. And this is kind of when we find their edge, when they start going, they all start going at once. But when you start trading random names, you're gonna find your results all over the place because you don't know what to expect. So something to think about, something to think about when you're trying to discover yourself and kind of see what type of trader that you wanna be. So going into tomorrow, look, I really don't have an opinion. Like, you know, I'm pretty good at, I'm pretty good at like sitting here and go, look, this is what I think is gonna happen. This is the data, I can only trade from the data. I'm gonna prepare it from both sides of the market, which I am, I'm gonna be prepared from both sides of the market tomorrow. But it's very, very tough for me to turn around and say, well, this market's definitely gonna follow through tomorrow. You know why it's definitely gonna follow through tomorrow because I want it to. It's not what we want, it's what we have. And based on what we've been seeing for the last three, four times, the market's been strong. We've been seeing a rug pull the next day. Is it finally going to be the bull's turn to actually follow through to be determined? But again, this is why we play the game. Guys, God bless. I gotta take my daughter to basketball practice. Go Yanks today. Hopefully you can get the game in. It's a little bit cloudy outside. Looks like a bunch of rain is coming. But God's help, folks. Stay blessed. I will see you all tomorrow. Take care.