 Again, the last thing we want to do is look at the extended names. Again, it's so easy to say that, but it's so hard because, again, you see that runaway train, but you realize the runaway train started two weeks ago. 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 morning, everybody. Welcome to another edition of theaccesatrader.com. We can update show. Hope everybody is doing well. Happy Labor Day. Hope everybody is getting a good rest. We deserve it. Again, you will never find a more mentally strenuous profession than this. I don't care if you're trading for 22 days, 22 weeks, or 22 years. This is the all-in mental equity of any business on the planet, and it's so hard and so challenging because there's so many outside influences that dictate what we do, and we still have to be 100% focused on the task at hand. And oh, by the way, capital, right? Money is at stake. So hopefully everybody's taking advantage of this long three-day weekend. Get some rest, recharge, reset the reset, and come back focused on Tuesday. Unfortunately for myself, I had vacation plans that were derailed. Again, let this be my worst problem in life. So I had to actually pivot to something else, pun intended, maybe not intended, but maybe intended. But overall, listen, let this be my worst problem in life. We're healthy, we're happy. The most important part is we are alive. So let's talk about the market. Market played out pretty much how I thought. If you've been watching the video for the last week, you kind of knew. We were still in melt-up mode, okay? We were obviously cautious making sure that we weren't looking at anything overextended. We wanted to make sure that, again, we are conscious of the idea that at any given point on an aggressive, tight-channel melt-up, they could pull the plug at any time. So we knew all of this. So this week, we had a couple of aggressive days. We had a couple of days, I just couldn't get anything going. It was just one of those things. Just couldn't get anything going. I was concentrating on the wrong stocks. For example, on a Wednesday update, I was concentrating on Tesla and I missed everything else. And then Friday was literally the day before, a long day weekend. So if you look at all the aggressive nature on Friday, it came after lunch, basically when I logged off. So this week played out exactly how we thought. The strong names continued to melt up. The indexes did absolutely nothing to give you any type of certainty or uncertainty that next week is going to be any different than the previous weeks. But the only thing that we do know is number one, all bad news is getting bought, continues to get bought. Again, we saw unfortunate terrorist attack in Afghanistan in the last couple of weeks. We're still in the middle of the pandemic. The monthly payroll numbers came in well short of expectations, which could have easily derailed any type of meltup. But when you look at the end of the week, the scoreboard, you'll see the Q's, the NASDAQ 100 up 1.6%, the Dow flat, pretty much flat, S&P up a smidge. But the most important part is now we finally got Labor Day out of the way. And slowly but surely you're going to start seeing traders trickle in in the next three, four days or so coming back from vacation. My kids start school on, I think Thursday, right? On Thursday, and I'm sure a lot of schools already started. So we're finally getting back into that swing of things in life for the fourth quarter. Again, traditionally, the fourth quarter has been really, really good for equity prices, but does that matter, right? Does just tradition make a difference? We've been melting up for a very, very long time. Anything could happen. And we're conscious of anything could happening. But for now, things are really good. The bulls are clearly in charge. Again, bad news is being brushed off. You know, is that gonna continue? Is that gonna be the trend going into the fourth quarter? We're hoping, right? Again, nobody knows for sure. We're hoping, we're always conscious of a very, very aggressive rug pull. And we know when you are conscious of a very, very aggressive rug pull, you're going to trade a little bit more cautious. And I found myself this week, especially on a couple of days, right? Monday was very aggressive. That's when Tesla really broke out. And by the way, we're still waiting for that continuation. And Wednesday was good. But in the middle, right? In the middle of Friday was exaggerated towards the end of the day with mRNA. We talked about that on Friday, on Thursday's video. But the point is, because I'm so conscious and because it's happened to me so many times before, Mark, I'm melting up, melting up. And then you're like, ah, nothing's gonna happen. Nothing's gonna be wrong. And then you look, you turn around, everything gets demolished. I was a little bit more conservative about letting plays play out, right? Like letting ranges play out. And I took the more cautious approach on the days that I couldn't get any going. And I made sales, I broke even a bunch of times, had a little bit of losses on certain trades, a little bit of wins on certain trades. My bulk of my week, I was saying 90% of my week came Monday and Wednesday. So I found myself being a little bit more cautious this week and a little bit later in the interval or a little bit later in the candle, I saw the stock work out. And it was a little bit frustrating, but I also know the worst case scenario is that if you're not conscious how stocks really obey levels. And yet you really have to be conscious of levels, whether they're on the daily chart or like I use the 60 minute charts, even if you're using the one minute chart, whatever your drug choice is. But the point is, you have to be conscious how a stock should be reacting on an interval. And if a stock stalls out, especially with kind of deep in your mind saying to yourself, well, the market get pulled at any time, prudence, right? Prudence is always benefit and you're gonna find yourself in that type of scenario, finding yourself with a lot more breakeven scenarios than you would normally, especially with a very, very aggressive volume market. But I took the prudent approach, I took the feasible approach of kind of collecting data and saying to myself, you know what, I would rather miss the run than overstay my welcome in something, have the futures pull, my stock gets pulled $2, $3. That's the last thing we wanna do. So I took the little bit of a prudent approach. The only thing is I'm trying to always get better. Again, I think when you're in this business for the first two, three years, you're just trying to get your feet where you're trying to kind of figure out who you are and what type of trader you are, your risk tolerance, your account size obviously matters, the type of stocks you trade obviously matters. When you hit like year 22, and hopefully a lot of you guys will, when you hit year 22, you're just trying to figure out better ways to kind of skin a cat. I don't know if that's even a very popular terminology anymore. So I came to conclusion, I was kind of thinking over the weekend, how do you attack, how do I attack a slower day? And I came to the conclusion that I think the days that are slower, you could obviously see slower that the days that are just like by 1045, like the volume is dead. I think if the market continues to stroll up, I had this kind of like light bulb moment instead of buying strength, because again, if you're buying strength in a market that has no life in it, there's not going to be any liquidity anyway. So I kind of thought about it over the weekend and especially like a name like NVIDIA on Friday, it kept on stalling out, stalling out, stalling out and it finally ran. But I looked at the intraday charts, right? And if I were to bought the pullback on NVIDIA instead of strength the first time around, the stock eventually off that rising support kind of exploded. So we're trying to always get better, whether you're trying to just figure out the difference between a bid and an ask, year one or the difference between a lethargic and aggressive market, year five or a market that has no liquidity versus a very, very aggressive liquidity type of driven market, you're always trying to omit worst, you're trying to omit things that are gonna harm you or actually even stop your progress going forward. And I'm always trying to do so. So the key is never stop learning, never stop learning, never put yourself in a situation that you're so complacent that you think you did something great the week before because the market's always changing. It's a very fluid situation. And if you stop learning as the old cliche goes, you stop earning. So going into this week, again, it's very, very tough to turn around and say, well, now Labor Day is done, the calendar has changed, everybody's coming back, the market now is gonna tank. It's very, very tough to say that. And again, as much as we see the meltup in the market, there's really no reason or at least the market's not giving us a technical reason why we should be bearish. Yes, be conscious, understanding of what might happen because of a rug pull, just because of gravity, absolutely. But if you look at names, for example, that've done really, really well, I mean, they're really in striking distance of going up again and going higher. I mean, Tesla's been trading very, very odd, like it has one really, really big day and it'll go sideways for like a week or so. That's exactly what happened on Monday, right? Monday, it broke out above the 730 area. This was pretty much the bulk of my week. Had a really, really big move and then just went sideways for the next four days. A name like Amazon, it had this really, really great move from the bottom of the channel, shaking off earnings and again, what's cool about Amazon right now, it reclaimed the 50 day moving average. They try to sell it off and they reclaimed it back. So that's very, very strong. A name like Apple, still going sideways, but again, attacking the top of the range here. Facebook has been incredibly strong. A name like Coin is obviously benefiting from the run of Bitcoin. Touch 50,000, Ethereum touched 4,000 and this is like literally, this is, we had a couple of pivots on Coin throughout the week and this is literally one or two days away from attacking the upper Bollinger Band and really start clearing out for a potential run into this 294 level. Even a name like MRNA and this is something we've been, if you've been watching this broadcast just for the last couple of weeks, this thing has been really holding this range for a very, very long time. And before Friday's session, we talked about the top of the range here, kind of nausea, they kept on getting rejected and the craziest part about MRNA is, if you watched Wednesday's video, it gives you, up till Friday, it gave you like false senses, right? It gave you like false green lights. Like it would have bad news, it would shake it off, go right back to the range and just when you thought it was about to trigger the range again, more bad news would come out but Friday was different. Again, we'll get to the individual pivots in a second and it finally confirmed this whole range here, looking really, really strong for this week. So we're definitely set up and obviously, I'm waiting for Tesla for the second run up here. Again, all those call buyers on Monday, they were betting for the 750, 780, 790 calls and they had every right technically to be betting on Tesla for that price is they all got expired worthless because, well, it never even came close to a day to run which is honestly very, very surprising but it's still in this range here and at any given point, Tesla could wake up again. I think one of the biggest things we saw this week was kind of like the stay at home stocks kind of just really fell out of favor, right? If you look at the names that really had big moves and obviously took advantage of the whole COVID stay at home movement, names like Zoom, right? Names like Zoom got hit really aggressively into earnings. Names like Chewie, which I love Chewie. We use them every single month, right? They got sold as well. A name like Peloton, right? Again, take advantage of the whole stay at home movement is getting sold. The one stock that held up really, really well and not only held up but just is going absolutely nuts right now is Netflix. And if you guys remember, and I talked about this on Wednesday's video, if you guys remember when news broke out on Netflix, I think it was a couple of years ago that the office was leaving the stock really got hit. And the run up here, nobody really knew. If you guys remember, Netflix started this whole run up here. And this is the first stock with all the technology names that had this really, really big run and nobody figured out and nobody tried to figure out, well, what's going on? They can take it over, like what's the deal? And finally, as the old cliche says, somebody always knows something and obviously getting the rights to Seinfeld was a big, big deal. We saw a massive call buying through this whole run here Thursday and Friday. So the 600 calls coming in on Netflix. And again, here's a perfect example that even though this is part of the whole stay at home movement, again, Netflix is not Zoom. Netflix is not Peloton or Chewie. So big, big action there as well. So going into this week, again, it's very, very tough not to be bullish. Let me give you guys some names that I kind of like, that look pretty good. A name like NTLA, not the thickest stock in the world, but has tendencies of going on big, big runs. It's attempting to break this whole channel here, right? The top of this channel here was this 178, 180 level. If this thing starts putting in a new base off this 180 level, and listen, who knows? Maybe this thing starts testing this 202 channel. It's very, very possible. The only reason why it stopped, it hits leading a regression line. So again, not the easiest name to kind of day trade, but if you are looking for a swing for this thing, and this thing starts taking out the top of the channel, all you have to do is use the previous days low as your max pain, and you are navigating the trade technically. So definitely keep an eye on something like that. Docu, okay? One of the names that did not get hit with the stay at home movement had a monster, monster session on Friday, right? If you look at Docu, it came out with earnings, and you say to yourself, well, here we go again, all the stay at home stocks are getting hit, big, big reversal, and now technically, right? You can see here, it's gotten rejected off twice. So if the same level here, if it starts reclaiming this level here, you know, again, you can have the next leg up here. Again, the value of Docu is obviously any dip into rising 60 minutes support. If it starts attacking this whole channel here, it confirms you could get a next push into the 320s into the 340s, so definitely keep an eye on Docu. A name that I'm not really familiar with, but it looks pretty good here. KNBE, if anybody knows anything about the stock, you know, keep an eye on this thing. This thing put in a high above the 50 day moving average, and they proceed to sell off the next three weeks. This is the first close, and the highest close in this whole formation. If this KNBE starts getting above like this $28 level here, you could get a push the 30, 31, so keep an eye on that as well. Obviously, we're still watching Tesla for another run. I'm watching obviously Apple for another run here as well. That's looking good as well. And even a name like Crowd, right? Even a name like Crowd that had this really, really great run came in, retested this rising linear regression line slash 10 day moving average, reclaim the five day moving average. Hey, maybe this thing sparks up again. So we definitely have a lot of good value. Again, the last thing we wanna do is look at the extended names. Again, it's so easy to say that, but it's so hard because again, you see that runaway train, but you realize the runaway train started two weeks ago, right? It's not starting the day that you're looking at it. So the last thing you wanna do is look at anything overextended. That's up five, six, seven, eight days in a row, because again, if there is a pull, and again, nobody's saying it will, but just again, just to be conscious, if there is a pull in the market, the stocks that have those big runs, they're the ones that get pulled first. So let's talk about Friday's session. Again, you didn't see a lot, you didn't see a lot of names trigger, right? You didn't see a lot of names trigger, but the ones that did, whether they got there slow or they got there fast, the point is it kinda mirrored the action of the markets, not a lot of people representing strength or weakness on Monday. Again, you had your initial reaction to the non-farm, to the jobs numbers that really weren't good. So again, the names that triggered did fine, and the names that kinda didn't, well, they didn't do anything. Just kind of like every other day, but the difference was the volume shrank very, very quickly on Friday. I think it really died out. It felt like it died out around 10, 15 in the morning, and I was like, I took a couple of trades, I was basically break even, and I was like, oh, God, this is a complete waste of time. Just nothing is following through, just not enough people there to take advantage. Ironically, after I logged off around lunchtime, that's when mRNA that I've been watching for two weeks really, really exploded. So let's talk about Friday's session. Snow had a really, really big run this week. 310 needs to build. Snow closed right over that 310 area. I still like it, I still think you see higher prices. Again, the value on this thing is to buy it into rising support on any single weakness. Again, you can't, remember, the breakout on Snow was 292. It's not 307, 310. This is just a continuation of an interval from down here. So when the stock has this big move, what you wanna do is keep on buying into rising 60 minute support until it starts losing the five day moving average. So again, it closed above the 310 area. I like it, I still like it going into this week. NET, beautiful move on NET. 130 needs to build. Here was NET, had a really nice move. Nice move, relaxed for a couple of days. It took out 130, went to like 131.5. That was kind of my point. You really didn't see those four, five dollar moves. And again, we'll get the mRNA in a second. But again, you did have some flow, but not enough to kind of really, you know, kind of get a date going together. But again, it is what it is here. AFRM never, you know, never got to the, you know, never confirmed the $100 area. Got there a couple of times. You just couldn't bust through. On the video, again, here's a perfect example of just not enough participants. Usually on the video, 227 rejected two times after I left the stock went obviously nuts. You know, it is what it is. I was watching this 227 level for three days. And it just, you know, I bought it, went up like 30 cents and came back down. It just sat there, did nothing. And I said to myself, man, if they pull the futures, it's things they get, it's heavy, right? It's heavy. I want to be more feasible. I want to be more risk adverse just because, you know, there is not enough participation. And I wound up selling it and yada, yada, yada, damn thing went to almost 230. But here's the good news. Here's the good news. If there is good volume that comes back into this market and the video starts confirming this channel here, hey, maybe this thing starts us next leg up 236, 237. So let's keep an eye on the video. Yeah, so here was MRNA 405 Sneaky for Experience Traders. 414 rejected twice, needs to build. Again, we talked about MRNA for like two weeks and I was already gone. For all you guys who caught it, who are still in it, congratulations. So here was the 405, right? 405 stopped here, 405 stopped here. Here was the Sneaky Pivot. And it finally got over the 414 level and closed right at the highs of the day at 417. Obviously any dip on this thing needs to be bought into rising 60 minutes support. And if it confirms Friday's channel, I mean, look how much room you have guys. So there's a lot of room there. So if you're still long MRNA, congratulations. I think this thing looks great. Edit never went red to green. Net, again, take on the way up. I kind of like this BITF for small cap lovers. Keep an eye on this thing. Again, it's up for me, but they had some $12 short-term coal buyers coming into this thing, BITF. It needed a 650 base. It just, it needs to close above the 650 area. If it does, you could get another run there. So keep an eye on that. And I believe that's it. So going into this week, obviously, I am still by side bias. Obviously anything can change on the drop of a dime. But again, you have your research, you have your opinion. You're not anticipating it. You're waiting for confirmation. You're looking for volume to come in. Obviously, if you could get some option flow, that'd be a huge benefit to what you're looking to do. And the most important part is stay patient, stay focused. You don't need to trade every single day. The break-even trade is going to extend your life. And the most important part is, like we say in business, is staying in business. Guys, have a great remainder of your weekend. And with God's help, I'll see you next week. Take care.