 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 and welcome to the Wednesday edition of the AccessaTrader.com weekend update show. So the market ended very, very well yesterday, right? We talked about, we reclaimed supply two days ago, had a nice move yesterday in the indexes. Obviously, again, we were very bullish going into today's session and today was the first day of the third quarter, right? First day of the third quarter and 20% move like we discussed last night on the video in the S&P and today basically the market participants woke up, beta names woke up and they said, listen, if you thought second quarter was good, hold my beer. We'll get to that, we'll get to individual pivots in a second. So, I mean, there's really what's there left to say about this tape? Again, you see all these incredible market pundits who've been around for 600 years and they're using all these great words to try to convince themselves, not even to try to convince the public, not even to try to convince the investors, but they're trying to convince themselves. And again, before you can convince anybody of your own madness, you have to convince yourself and they sit there every single day. It doesn't make a difference what financial news network you get your news and again, it doesn't need to be a CNBC or Bloomberg or Fox. There's 30,000 sites, 300,000 sites and they're going to give you every single reason. Why you are dumb? Why you shouldn't be in the market? Why buying at these levels two months ago was wrong? Why chasing momentum is bad? Which it is, again, unless it confirms technically. So, one of the biggest issues and this kind of trickles down to what a lot of traders are doing that really missed this whole ride. Again, you can make an argument that, you know, I forgot who asked me today in the webinar, is the market, and this is pre-market, is the market ahead of itself? The market's been ahead of itself for two and a half years. Okay, so this is, we're just seeing kind of like literally the cherry on top and, you know, when you want to trade for a living, again, it could be a passive way of trading, long-term investment, whatever the case may be. Again, the first thing you have to convince yourself is that your money is safe. Once you convince your money is safe, then you can obviously go into whatever process you're trading, whatever stocks you're trading, you could go in there with a clear head. The problem is when you're eyes wide shut on any market, okay, doesn't have to be in present day. For any market, when you're going in eyes wide shut, this is where you always catch, you know, the rich hand, right? You get the elbow into the neck. This is where you get hurt. But this is the type of tape. And again, guys, unfortunately, there's so many people making excuses why they're not participating, why the stupid people are participating every single day, why dumb money is constantly flowing in. That's your clue. That's your market. That's your green light. This is where, if you are a professional trader, or somebody who appears to be, you know, having control of their own trading career, this is your opportunity to understand there is dumb money. People are chasing, you know, people are overextending themselves. It's your job to figure out how to exploit them. Because if, again, if you believe that they are the dumb money and you're the smart one, isn't the smart one supposed to take advantage of the poorly uneducated? So the idea that you're sitting on the sidelines making excuses to make you feel better, okay, the sarcasm is cool, right? The sarcasm is cool, only idiots are in this market, only idiots are, you know, buying higher prices. But again, without those idiots, there's nobody there to take advantage. Again, why are you not taking advantage, right? If you're, you know, if you're so smart, why aren't you taking advantage? And I think that's where a lot of the fund managers really dropped the ball, right? And you heard this two, three months ago that after the initial debt-cad bounce of this horrific COVID virus, and again, I was one of them the first two, three weeks. Okay, this is a debt-cad bounce. Let's see what happens next. Okay, the debt-cad bounce is not a debt-cad bounce anymore. It's a full-blown rally. Oh my God, it's not a full-blown rally. Now we're testing the high, the all-time highs. Again, at some point, you have to turn around and say to yourself, look, I have to take, you know, I have to take control back, right? I have to stop making the excuses. I have to, you know, I have to look at the market for what it is, not what I think it is and what I think I need it to be. And again, this is where, you know, self-accountability takes place, right? Everybody knows this market, so crazy, right? Everybody knows this market's irrational. Everybody understands that the economic landscape as we see it right now has no way near the reality of where the stock market is. We get all that, right? But isn't our job to kind of, well, figure out how to get around it, whether it's long, short, and indifferent, right? Isn't our job as a trader to take the landscape, to take the ingredients, what we have in front of us and make ourselves a delicious dish, right? Isn't that what being a trader is all about? Not painting ourselves in the corner, not putting ourselves in a situation that we are so biased in one direction that we refuse to see the light, right? Isn't that what it's all about? And the one thing that we're going to look back at this stock market, and again, whether it ends a week from now, tomorrow, whatever it is, right? You know, whatever it is, the moral of the story is this will go down in one of the most aggressive stock markets. And again, I don't care how you trade, you don't need to trade beta to figure this out. You have $2 stocks going to $30, okay? This will go down as one of the most aggressive stock markets you could remember, all of us can remember, going back to the internet craze, going through the generational bottom of November of 2009 and fast-forward going on here. So I'm hoping everybody's doing incredibly well, more important, staying healthy again. You're seeing crazy numbers starting to pop. The governor of California today announced they're closing things back down. Restaurants, bars, movie theaters, you know, so the cases are real, right? The cases are real and we're getting a lot of states that are really, really coming out with some aggressive numbers. The most ironic part of all this is states like, for example, like New York, New Jersey, we're kind of cool, man. We're kind of cool. Surprisingly, considering the stagnant numbers that we had, now California has surpassed New Jersey in cases, which is amazing. Now we're in New Jersey, we're getting like 300 to 400 cases a day statewide. We were getting, what, a month ago, $3,000, $4,000 a day? So ironically, the bigger populated areas like Newt Manhattan, right, and Manhattan, the suburbs of New Jersey, we're kind of, you know, we're kind of cool. Maybe people are taking a lot more fiscal responsibility with their health and not just kind of going out and living their life with blinders on. So that's kind of cool. So I hope everybody's staying healthy. I hope everybody is putting themselves in the position, whether it's mentally, financially, relationship-wise, in a good, good place. Because again, at the end of the day, our mentality, our mindset, our happiness, again, is nothing to do with trading, right? Trading is just kind of a thing we do, right? Some of us have been doing it for a long time. Some of us have just started, but again, life and happiness is not about trading. So please find yourself in a good area, mentally, have a good life, right? And just be happy, learn how to smile. So let's talk about the tape. Obviously, again, the market's nuts. If you thought yesterday's moves were crazy in stocks like Tesla, again, as the market says, hold my beer. Technically, this is kind of where we are. The Dow is down 77 points. Nobody cares. I had no idea. I never have any idea where the Dow is. I really do. I just kind of look up and say, oh, the Dow's up. The Dow's down. It doesn't make a difference. The Dow is down 77 points. The Dow's that composite. Two days in a row now of triple digit moves. And we'll talk about the pivots in a second. When you see some of these moves, it's phenomenal. It's just absolutely phenomenal. Today was officially, and again, I didn't get the memo, but officially, you know, officially when you have a move of like 6, 7, 8 points, apparently a stock will go up another 60, right? That's from what I understand. So today was kind of like national no-down tick day in shares of Tesla, Roku, Amazon, Netflix, Facebook, just crazy, crazy moves. Really good day. Really good day. Going into tomorrow. Again, we got this move. I don't want to call this kind of a similarity to what we saw last week, but we did get a move into the upper Bollinger Band. Again, this is not quite an inverted hammer because you can see the body of this candle is really thick and it's closer to the top than the bottom. So I mean, I could see a slight pullback and that's why I have a couple of names that I do like that I'm watching for tomorrow. You know, names like Boeing, for example, that just didn't rally. Just didn't rally. They're very, very close to losing the five days. So just in case we do get a pullback, I like Boeing to see if it confirms the channels. BYND, like for tomorrow, I kind of like it as well. It gave back its whole gains, like really its whole gains. So I'm going to start watching this whole bottom channel right here if it starts really giving everything back up. But obviously, you know, this is a very, very strong market. Stocks that are taking their 52-week highs are taking their two 52-week highs. We'll show you in a second in shares of Amazon when bananas today, Netflix, obviously, Tesla, Facebook and everything else. So just crazy market, crazy, crazy market. We are closed on Friday. Okay, we are closed on Friday 4th of July, right? 4th of July tomorrow. I think we're going to get some really good value. I think it's about lunchtime or so, maybe until about one o'clock or so, which is basically our majority of our day anyway. And I think after, you know, after lunch, I think the volume is going to really, really die down and the range is going to start really contracting because again, a lot of people are, you know, going away for the long 4th of July weekend. So if you are trading tomorrow, I will definitely be trading tomorrow for all you guys in the live webinar and the Twitter feed. So normal day, normal day tomorrow. And for all you guys who are taking the rest off, again, unwind, decompress, get your mind right, have some good food, have some laughs, have a drink. Again, smile, smile, smile. That's what all is life about. What's the point of anything that we do, okay? If you don't have a smile on your face. So I'm wishing everybody a phenomenal, phenomenal 4-day rest. So let's get into the pivots today. Just nuts, just absolutely nuts. Right, so here was the game plan. If you notice, everything was to the long side, like literally everything to the long side. We talked about Tesla yesterday. I said any week open, okay? And this has been the play now for years. When you see a stock put up a monster, monster candle the previous day, okay? Like a Tesla did yesterday. And the stock opens up a week. You need to be. We talked about this last time in the video. You have to buy this thing on Rising Support. You absolutely have to. Tesla opened up down, you know, down like, what, down four or five, maybe $7, whatever the case may be. And I wrote this out. I go, look, a couple of different scenarios today to consider. It never got down, obviously, to the 1057, 1058 area. This would have been, this would have been like phenomenal. It never got there. But again, the second scenario, red to green, obviously, no. This is not a pivot, just momentum. But here is the pivot, right? Here is the pivot right here. 1089, 1090 needs to build. I thought the damn thing was to get to 1120, right? We talked about the option flow yesterday. 1120. That's so child's play, 1120, right? So here was the 1090, right? Obviously when red to green, here was the 1090. Here was the 1120, right? Da da da da. Nobody cares, right? Confirm 1020, the damn thing went to 1035, just, I mean, 1135, just ridiculous. Absolutely ridiculous. Tesla went nuts, went absolutely nuts. Amazon, this was definitely the move of the day. 2771 needs to build. I said, look, there's a shot this thing gets to the 52-week highs. Here is Amazon, right? Here is Amazon 2771. This is this whole channel here, 2771. Yada, yada, yada. The damn thing went to 2900. It's amazing. Just when I say the moves today were exaggerated. I think that's an understatement. Amazon went nuts, Square got upgraded today. Again, nuts was definitely the theme. A couple of levels to watch this morning. 107 and 10785. Again, if you notice the 52-week highs today, they were going eight. They were just jumping over each other to buy shares. We're talking about cases of FOMO. 10710785 is the June 26 highs. Square went nuts, right? Here is Square. Here is the 107. Got upgraded. Took out the 10785. Square went to 117. Again, I have no idea what's going on today. FSLY, not a big move. 87 needs to build. Only went up. Again, I kind of knew it was a little bit overextended. I said, look, the stock is a little bit extended. Atat extends. Only used a 50-cent risk. Again, more for experienced traders. Stock only went up like 70 cents. Facebook went bananas today. Obviously, I think my dyslexia definitely kicked in here. It was 227.60, 227.80, not 226.80. Needs to build for cashflow spike. And that's what I thought it was going to be. I didn't think this was going to be this majestic move. I thought it was going to go right into this area here. 229.5, 230. And Facebook just went nuts. Again, just like everything else. Just absolutely went nuts as well. Apple, very, very weird today. So it had its initial cashflow move. 336 needs to build. So Apple was kind of weird today. So Apple takes out this whole 336 area and trades into supply. Which again, we kind of understood that. So it put up like a dollar 40 move. And it just never confirmed back to the upside. It actually wound up red on the day, which is very, very odd considering the nasa composite was up 122 points. Very, very interesting there as well. Nvidia really didn't do a lot. Nvidia put up a dollar move. 382 to 383 and then kind of did nothing for the rest of the day. Kind of like Apple. Spotify, I still like this thing on the short side. Chewy, I stopped watching Chewy. Let me see if Chewy did anything. I just wasn't watching Chewy, so I apologize. 4420. 4420. No, I never got down to the 4420s. Okay. So that's that there. Big spike there. Tesla obviously, you know, when you get a $30 move, you get a $30 move. Squares going nuts. Apple was actually the most ironic part. The first one to explode, which was very, which was amazing that it stopped. Amazon just sweet morning and then, and then, and then, and then, and then, you know, again, all these things are going nuts. Towards the end of the day, there was an 1120, 1119 second entry that actually flushed down to like 1107. But Netflix, and here's the afternoon move on Netflix. Netflix, a buyer comes in and this is, once you start seeing these multimillion dollar bets, it's like a, it's like an absolute flight, you know, flight to the insanity. A buyer comes in for the August 500 calls to put down two and a half million dollars of premium. 5474 is 52 week highs and look what Netflix did. I mean, just look at this move here. It takes out the 474 and puts up another $14 on top of that. So yeah, you get the point. I mean, this is, again, this is why, you know, this is why we trade beta. I mean, this is, you know, this is the same names we trade every single day. And oh, oh by the way, by the way, by the way, by the way. So yesterday I put on my first swing probably in a long, long time. So I bought this net net net yesterday at 34, excuse me, can I say 34? 3594, it just sat there all day. It went, actually went green today and then went red today. It held the previous days low, which is very, very important. This is how you hold onto a swing and make sure it never takes out the previous days low. And then it just caught fire. So I'm up a buck in this thing right now. I still am very, very intrigued by all those $40 call buyers yesterday. We saw some $40 call buyers today as well, not as aggressive as yesterday, but I'm still very, very intrigued. I would love to see this thing take out this 38 and a half, 38 and a half level, which was the 52 week highs and maybe get a push to 40. You know, we'll see. You know, we'll see what happens here. You know, close just under $37. Just close under the $37. I'm up a buck in the trade there. So that's it. That's it, ladies and gentlemen, support you guys who are trading tomorrow. I will see you normal bad time, normal bad channel. Guys have a great rest. Have an awesome 4th of July. I love you all and God's willing. 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? Straight off his personal watch list? Unlock our free PS60 Vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.