 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 the trade.com nightly wrap up show. So let's talk about the tape. So a couple of things that we are looking at today, OK? Number one, Trump is speaking 5.30 or 6 o'clock Eastern time today. By the time that this video goes out, obviously he already will have said what he has said. And obviously the futures will reflect basically anything comes out of his mouth. So that's a very, very important note coming out tonight from the White House. As we expect to hear what the general consensus is, when do they believe that it's the right thing to do to let everybody back out? Having said that, over 4,500 more cases, new cases in New Jersey, South Korea has repeated cases of coronavirus survivors. Now, again, getting it back, again, I don't know. If it's true, if it's not true, we don't know. But two things more important from the trading aspect, everything else we can't control in the world. We could control staying home, practicing common sense, being grown up, so all that social distancing stuff. And for me, again, I've been literally outside my property 10 minutes in the last two months, OK? Maybe a little extreme, but hey, knock on wood, so far so good. But here's for the trading aspect, this is where we try to make heads of tails of it. Number one, we've been talking about this two 1275, 213 areas on the bulls. They needed to reclaim. Check, check, right? The Qs did that, the NASDAQ 100. The NASDAQ was up 1.6% today, or 140 points. I think that was the case. The Dow squeaked out again. Again, nobody cares about the Dow. It's 30 stocks. Again, no disrespect, anybody trades Dow stocks. But again, it's much easier to move 30 stocks up 1,000 points than it is to move 100 stocks, 130 points, just the reality. So that is good, right? And the most amazing part is where we've been talking about going back to about a week and change ago that's saying, stop thinking. Stop overthinking, OK? Forget about your opinion. Again, have your research bias, sentiment bias from your research from the night before. Let it try to play out in the morning. And if it doesn't confirm your specific mindset, go back to the other side. And just when you think, these stocks just can't go up anymore, right? They can't go up anymore. Google, Amazon, can't go up 450 points. Tesla can't go up 250 points. Netflix, no way it's going up 75, 80 points. How can Roku just go from 105, right? 105, 106 from yesterday's pivot. There's no way it can go to 120 today, right? Again, this is where price action is incredibly important. Our opinions mean, zilch, zilp, nada, nobody cares, trade price action. And unfortunately, you see a lot of new traders. And you could tell they're new traders because it's the same thing that's coming out of them else. The market is rigged. It's all manipulated. It's all the market made. Where the hell all this started from, OK? Stocks go up when there's more buyers and sellers. And stocks go down when there's more sellers and buyers. That's just what it is. If you look at any single chart that's supported by technical analysis that makes its natural organic move after a stock confirms, whether it's an intraday channel or a daily channel, you're usually going to have price action to follow. So for example, if there's a 60 minute channel, we'll talk about the pivots in a second, very, very aggressive, again. And you look at a 60 minute channel versus a daily channel and they both confirm there is a good chance they're both probably going to work. Because again, that's what technical analysis is. If you're sitting there and you're scratching in your head and you're making excuses why, again, you don't understand, the market's abnormal. No, this is what the market is. This is what the market is. It's always been abnormal. People are trying to put a label to make themselves feel better that they can't make heads and tails. Of course, does it make sense that Tesla just ran up 300 points or the hell it was? Does it make sense? Of course not. Does it make sense where it's 6 million people unemployment and people dying every single day in the market just doesn't care and the queues reclaim the major supply zone? No, it doesn't make sense. But again, where is there in the rule book that says something to make sense? In the outside world, when it's minus 10 degrees outside, you don't put a bikini on to go outside. You put a warm jacket or you just stay your ass home. In the stock market, it means nothing. The stock looks like crap. The fundamentals are crap. They're burning money. The CEO is a fraud. They're free. The stock is up 250 points. Again, it's all about technical analysis. If there's more buyers and sellers, the stock will go higher. That's all it is. I give you my word. I promise you, hand to God, hand on the Bible, hand on everything. There is no body sitting there in the back room pulling the strings. I don't know where everybody picked up this whole. The market makers is a control. But what are market makers controlling? In 2000 and 2001, that's when market makers kept the book. A friend of mine ran this firm called Fleet, Fleet Trading. If you guys, all you guys remember, that's when market makers were there. When Night Try Mark was running things. When Herzog, that got bought out by Merrill Lynch for $900 million, by the way, which they're still probably laughing to the bank. That's when the market makers made a difference because they were keeping a book. They were trading for the book. Any market maker right now, I guarantee you as a 22 year old kid taking 100 share orders from somebody from Wichita, Kansas, they don't control a book anymore. 99, I give you my word. So I don't know where people ran with this thing. Oh, the algos are controlling. The algorithms are made up by smart people with a specific trading strategy that's taking an advantage of an arbitrage. That's what's basically what I'm trying to do every single day on a manual way via these pivots. So the idea that there's a guy behind a curtain, like the Wizard of Oz, and he's pulling strings and the market does this because he wants and the market does that because he wants. Again, guys, I don't know where these stories started from. It's absolutely ridiculous. Any professional trader's been doing this for a very, very long time. We look at these statements, we hear these statements, we laugh and we just don't understand where they came from, but it is what it is, right? It's a new social media word. As soon as somebody says something and there's any type of spice or sizzle or sexiness, people run with it. New traders, I give you my word. It's all technical analysis. Buyers clean up, sellers clean up. Buyers, there is no magic man. I give you my word. If you wanna run with that statement to make yourself feel better, it's up to you. But again, let's get back to the stock market. It's on a runaway trade right now. The beta names are going absolutely nuts. And just when you think, again, just when you think, and I said this today pre-market, when I was putting in these pivots, I go, this has to be the last time, right? This has to be the last time. This is the last push. When the pivots today, I was trading NVIDIA, Roku, Tesla, Tesla a little bit towards late afternoon. I said to myself, this is the last time. I swear this is the last time. How much more can we possibly go to the well without these things getting rejected and completely coming down on our faces? And the more time you say it, the more times you think it just keeps on going and going and going. And the most amazing part was, towards the afternoon, you started seeing, and again, I wanna show you this, it's not just trying to pick a top. Again, I don't care about being right. I don't care about picking tops or bottoms or any of this stuff. Again, sometimes you're just trying to trade as much common sense as possible. And you start looking at charts on the 60 minute channel and I said to myself, all right, look at Tesla. This is after we took our trade today on the 731 pivot. We'll talk about that in a second. I don't know why my e-signal is not working. Okay, so here it is. So you look at Tesla and you start seeing all these lower high candles. You look at Amazon, you say to yourself, all these lower high candles. And you look at Netflix and the same thing. And you look at Roku, right? The same thing. And you look in the video. Same thing. You say to yourself, okay, tomorrow's the day. If they gap up tomorrow and they hit to supply, we're gonna have a massive reversal. I've been saying this literally for three days in my brain and literally every single day I find myself trading the top of the, top of the middle of the channel to the long side. So again, I'm going back again with the same sentiment going into tomorrow's session. If they're gonna pull the plug, they're gonna pull the plug in the most egregious, aggressive possible way when the most traders have the rose colored glasses on. The problem is it might not happen, right? It might not happen. Again, I've been thinking this enough for two days already. And it still hasn't played out. Again, it doesn't make a difference that if you're wrong in your thinking, just wait till confirmation finally plays it out. And that's the name of the game right now. It's, again, for all you guys who are pouting yourself on the back, oh, I made this call. I don't say what a call is. What exactly is a call? It's like me turning around and saying, you know, I mentioned Apple like nine years ago when it was like at $47. You guys remember that? I did, that was me. So forget about that. It's all about, again, look, you're an individual person. You're your own entity. Make smart decisions. Nobody cares about, nobody's gonna remember your call. No, nobody cares, okay? Trade smart, trade responsibly. Don't spread ridiculous market makers of controlling the market and the algorithms of, right? Said no professional trader ever, by the way, okay? So be smart. Continue to trade the channels. Trade every single trade on its own individual merit. If something looks very, very extended, again, look, can it go higher, of course. But again, use common sense. It's not a 10-star play when the stock made already 26% move in three days. So be very, very smart. So going into tomorrow, we got a couple of things that we like, right? We finally got the cues, they're over daily supply. Now daily supply suggests, doesn't need to happen, but daily supply suggests that now that we've captured a new ceiling and now it's a new floor, that we have all this room up to the 225, 228 area. Depending what Trump says, depending how much we can actually slow down this horrific, horrific virus that's been plagued all of our lives now for the last several months, we should get there. But again, deep in my mind, I know, well, the cues just ran up from 180 to 214. Shouldn't we get a little bit of a back test? So I'm kind of conflicted going into tomorrow. I will be looking at both sides of the market. I'm not gonna jump the gun. I have some really specific plays that I am watching, especially to the downside. Again, if I start seeing lower highs in the first two candles on the Tesla, on Amazon, on a Netflix, those are the biggest movers on the way up, then yes, absolutely. Those are gonna be my top three ideas on the way down because again, when it goes up, must go down and gravity is always most aggressive to the ones who've committed the biggest moves. So those are gonna be the ones. But again, there are some good value plays, both long and short, that have nothing to do with beta, right? And I think, again, Fridays have been traditionally very, very strong as I'm watching Tesla right now about the bus through after-hour highs. I don't know what's going on there. But again, Fridays have been very, very aggressive sessions just because people are making very, very aggressive bets in the options market via the weeklies and that will dictate some price action. So going into tomorrow, man, I'm 50-50, okay? I'm 50-50 bullish. Can we say that? Does that even make sense? I'm 50-50 bullish. If that makes sense, if the new math is working, then I'm 50-50 bullish tomorrow. But again, I have the right to reserve to see how the market opens up, how the bulls live with their brand new found glory, above technical supply and let's see what happens. So look at the pivots today. Again, it's just the same names doing exactly the same thing. Again, number one, congratulations to all you guys who came in Long Roku from yesterday. This is the big pivot yesterday, the big macro pivot. That was the after-hours high when they guided higher, 112, 80, 113, that was from yesterday. So when it opened up today, it gapped up pretty aggressively and we'll get to that in a second. But Tesla, there was two-sided pivot today. We were watching the 709 area for a move to 694. We knew it was gonna stop around 706 because that was the daily supply, a daily support. So there was no second entry. So we watched it and never retested. There was no trade there. ZM, again, 146 was the pre-market low and never came close to there. I think Verizon started, I think that was, I mean, it's such a long day. I think the news was Verizon came out their own webinar, I don't know, nobody cares. The video was big. This was my first trade of the day. The video was big. I took this on a second entry. 288, 75, 289 needs to build. I took the 290, that was the first move. So I took the 290 move and it damn thing exploded. So here was the 290 opening range and just absolutely exploded. Big move, big move on the video. You started seeing the 295, the 305 calls, even the 310 calls coming in very, very aggressively. And then I caught Roku. This is an aggressive continuation play for experienced traders. Congrats to all who caught this overnight, but for this to get more. And again, when you're thinking more, you're not thinking 134, 133. I'm thinking 120, right? 120, the top of the upper Bollinger Band at that time was 1934. So I get long and my highest sale was 19 and it pulls back in for like 30 seconds, literally it goes up $14. Okay. Square, can't be perfect, right? Square 5860, if it builds, can go lower. Square got a nasty downgrade today from Raymond James. Here's the 5860 and it went all the way down to the 5660s level. For all you guys who did trade square, I did not. I caught Tesla, I had to re-enter twice. This is, again, when you're trading equity versus options, a whole big different story. If something stalls out, the last thing you want to do is be a deer in headlights, but it's all good. 731 needs to build. I said there's a shot at 748. The reason why I said there was a shot at 748 was if you look at Tesla, right? If you look at Tesla, this was the top of supply. 748, here's the 731, this whole macro area here. As you can see here, 731, 731, 731, 731, 731, right? 731, it just explodes and goes to like 759. I thought it was a stop at 48, went to 59, excuse me. But Tesla, again, the greatest thing ever. Roku, Bingo, just, yeah, Bingo. This was before an extra $14, excuse me, Bingo. Perfect move there. Square, new lows and the video. Really good move on the video. Just an amazing market. I said, like I was sitting there, as I was sitting there, I was like, this market is insane. Just absolutely insane. So crazy market. But again, there are opportunities on both sides. This was a nice move. I think tomorrow, Bowen could test that lows from a couple of days ago. 137.70, if it builds below, can flush more. Bowen never rallied today and that's the first tell-tale sign. Here is the 137.70 and went all the way down to 134. Honestly, I like it. This thing starts building this channel here. It's gonna go lower, man. It's gonna go lower. Ironically, we did see a lot of really aggressive 145 weekly call buying that expires tomorrow. So it's very, very odd. But again, to the most part, I wanna see it confirmed as daily channel here. And if it does, it's gonna see 120. So Bowen could be a pretty big mover tomorrow if it confirms to the downside. Again, best stock ever. 744 supply, test is on fire. And again, who would've thunk it, right? General Mills. You never think you'd see General Mills on this feed, but General Mills, we had an alert set for like three months ago. 60 was a big spot. This is not a day trading stock. Any close above 60 is super bullish. General Mills, food, right? They make cereal. They make oatmeal, blah, blah, blah, blah, blah, blah, blah. And General Mills went from 60 and it almost went to 61. I still like it. I still think it goes higher. But again, who would've thunk it, right? Who would've thunk you to start General Mills today on the feed? Bowen New Long, again, very, very strong pivots today. All week. All week has been very, very strong pivots. So going into tomorrow, like I said, tongue in cheek, I am 50-50 bullish, right? It's been a long week. I'm not the sharpest tool in the shed. But I am 50-50 bullish. There's some definitely longs that I like with some good value. There are definitely some shorts that I like that have nothing to do. That have nothing to do with beta that I've been watching for a couple of weeks that are very, very close to breaking down. I'm gonna keep an eye on that. As you can see, your stocks are rallying or at least trying to rally ahead of the Trump speech, right? So we will see what happens there. It's Friday tomorrow, guys. Last day of the week. Hope you guys are doing well. Hope everybody is happy and staying at home and trying to make heads and tails on life right now. Have a smile. It doesn't usually work. It will make you feel better. But, God's help, I'll see you all tomorrow. Take care, guys. 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? 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