 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 dot com nightly wrap up show. Hope everybody is doing okay. So just to give you know how crazy 2020 is, if you don't think the universe has thrown enough things at us. I just got one of those on my phone, one of those emergency things, life threatening flash flooding. I've met in 46 years. I've never seen that, but that's kind of where 2020 is. Other than that, it's absolutely nuts. I don't think I don't think I could have been more wrong. If more wrong is actually the right way to say it. Unbelievable. So kind of let's review. So several, several weeks ago, we had this inverted hammer led to about a 7% decline. Another inverted hammer led to a 6% decline. And Friday we closed, well, in another inverted hammer. So I came in today 99% cell bias. Okay, literally 99% cell bias. I felt that if the market was going to gap up today, and we were going to gap up into supply, we're going to start rolling over and we're going to have some really, really aggressive pulls. It kind of sort of happened on individual names, but I couldn't have been more wrong on my premise. And the most amazing part about technical analysis is, again, is it 100%? Absolutely not. Is it 90, 95% to give you a clear view what potentially could happen next? I think it is. But the most amazing part of the whole trading aspect, and this is kind of what we've been saying now for years. Our job is not to be right. Our job is not to be that person on social media who calls things. Our job is to gather data and wait for that confirmation. And the most amazing part about it is, if this was years ago, if this was 15 years ago, 17, 18 years ago, I would have been really, really aggressive trying to outsmart the market. When we gapped up today, this was a pretty aggressive gap. It wasn't like a gap, 70 points, 120 points, 200 points. This was a pretty aggressive gap. And the most amazing part of this aggressive gap was, and we'll talk about the individual pivots. I lined up the day pretty much on the sell side, like everything we talked about today, for the exception of maybe one or two names, everything today was sell bias. Because again, I wasn't going to buy Tesla today up 80 pre-market. I wasn't going to buy Amazon today up 80 pre-market. So I had a choice. Either chase the price action, let the market play out and validate what I thought was going to be the right play. The right play of all the data that I gathered. Or I could do the responsible thing, not get blinded by the light and kind of wait for our spots. And this is what's great about trading. You don't need to be painted in your opinion. It's not about being right. It's about being profitable. And the most important part is, every single day, because I am pretty much going flat every night. The only thing I was holding for four days was my NET swing, which finally paid off today, which I was actually pretty happy about. But the idea that every single day, we're gathering our information, we have an opinion. Again, if you're trading without an opinion, you're trading in the dark. You're trading, you're guessing. You're trying to formulate an opinion on the fly based on price action that you're seeing now, not the data that you gathered from the previous trading day. And I've been saying this for years and years and years. It's okay to be wrong. Again, I'm wrong every single day. It's okay to be wrong theoretically. It's okay to be wrong on your premise. It's okay to be wrong on your game plan. As long as you're not sitting there anticipating and forecasting and hoping and praying, as long as you're not wrong financially, it's okay. It's okay. For some reason, a lot of traders, they're in the camp that they believe that they need to be right. They need to impress somebody. They need to be that really smart person on social media. Nobody cares. Nobody cares. It's not a contest to see who the smartest. If that was the contest, I'd come and last every single time. Again, king of the idiots. But again, it really does show you how number one, if your game plan doesn't get confirmed, there's always the other side of the pivot. There's always the other side of the ledger. There's another information that you can possibly gauge that maybe you didn't see or maybe you did some other circumstances that could have popped up that you can take advantage of. Or if you are a responsible adult, and if you don't see that happening and kind of leaving it alone, or you could just state to the sidelines. I thought today was such a tricky day because all I was sitting there and I was waiting for that poll, waiting for that poll, that poll did come. It did come, but it didn't come in the market. It came in individual names, NKLA and shop. And the most ironic part about the whole day, the only long position that I really liked as an entry gave the smallest move out of everything that we saw today, which was Roku. Again, I made like 70, 75 cents on it, whatever it is. But the point is the market was completely crazy today. I was literally so confused. I was sitting there. I go, okay, the poll is going to come. I can't find anything to buy. The poll is going to come. The poll is going to come. And all you saw today was literally the most incredible thing I saw today in Tesla, right? Continuation in Amazon, right? Just going absolutely nuts. The euphoria right now is at all time highs. I mean, literally all time highs. And the question I have is if you didn't like Tesla at 900 last week or at 1020 where the stock broke out several days later, well, what the hell are you doing paying $13.97, $20 after hours, after a 166 point move? So again, there's a difference between gambling. There's a difference between being right and wrong. There's a difference between being a trader or a person who buys stocks. Again, the question is which one are you and the only person that could answer that question is you. Again, this is not a glamorous exhibition of knowledge or sounding smart. This is your money, okay? Put your money at the most advantageous area you can. If your premise is wrong, if your research does not match up to the price action, again, either go to the side, act responsible, but do not guess. That's the most important part, do not guess. And they actually turned out to be fine, actually more than fine. But again, the way it got there, very, very odd indeed. So let's talk about this, right? So right now, for the one time, right? For the one time that we've closed in the last two months on an inverted hammer, just a monster move, 260 point move on the Nasdaq compot. Again, I'm running out of words, but just unbelievable, just absolutely unbelievable. I've been short, excuse me, I've been long. NET from last week, finally, you know, got upgraded today, Piper Jaffrey gapped up like 67 cents. And I said, look, if this damn thing doesn't take out 52 week highs today, I'm going to be out of this thing. So we were long under 36. I sold the third today at 38 sold another third at 38 and a half. And my last third was at 39 again, $3 runner on NET. I'm okay, I'll be all right with that. But other than that, if you again, if you look at if you look at the pivots and again, guys, just before we go into the pivots, just a quick announcement. About a month ago, we did a Q&A and I know a lot of you guys are option traders or new option traders. If you want to check out, we did a Q&A with a panel of five traders, all different levels, all different account sizes that trade in the webinar, option traders, okay. It was a Q&A, they answered a lot of really great questions, kind of their mindset, their approach based on these pivots via the options. If you want to check it out, we posted the video about an hour or so on YouTube. It's pretty cool. It's a very basic Q&A. So if all you guys who are experienced option traders, they'll look for butterflies and spreads and calendars and vertical, none of that. It's very, very basic stuff. We want them to keep it as basic as possible. And again, kudos to those five gentlemen who took their time out to answer questions and hopefully, it's about two hours long. So hopefully a lot of you guys will get some value for it. It's in our video box, whatever it's called on YouTube. Subscribe to the channel and you'll be notified when future videos are set up. So let's talk about this, right? Again, very, very awkward day, but it is what it is. NKLA, and I said this, if you have a locate, I did not. And obviously, I do not trade on the option side. But if you have a locate or considering puts, if this thing builds below 57, it could flush. NKLA got murdered. I mean, absolutely murdered. It broke below the 47 and went all the way down to 48. Congratulations to all you guys who still have a runner on this thing. Again, unfortunately, I just did not have a locate. NET, again, I put it on the channel on the 52-week high. A lot of us came along this thing. I've been in this thing for four days, finally got out today. NET, 48, 50, 52-week high if it builds. Ran up to like 49 and a quarter and then kind of died out. Boeing, again, this is a perfect example how you don't cheat on your entries. Boeing was weak all morning, traded down to like 181 and change. And I said, don't anticipate the move. Don't forecast the trade. This is a stock that at any time you get some order flow to come in, the stock just goes the other way. The next thing you know, we started seeing really aggressive order flow coming in on Boeing. The 195-weeklies, the 197-50-weeklies, the 200-weeklies, the $220-weeklies we saw. So I kind of like Boeing tomorrow. There's a couple of areas that I definitely want to keep an eye on for tomorrow, but it is what it is. Roku, actually a nice move. You know, $132.75. I quote a piece of this trade. $132.75, $133 needs to build. I was surprised. You know, I was a little bit, you know, a little bit peeved that it didn't go more, right? So here was the $32.75 right here. And the first candle goes to like 34 and change, right? And I know it doesn't sound crazy and it ultimately went to 36 from that 33 level, but considering what all these stocks were doing, Amazon and Tesla and Netflix, even Netflix got downgraded today, just absolutely exploded. I was, you know, I was really, I wasn't happy that I was in the one that just didn't explode, but again, may your worst trade be a green one. So Roku, it is what it is. You know, a nice little move there. Look, again, we were watching for that $475 pivot. Obviously never got there. BY&D, I still like this $140. Again, you can see everything was pretty much to the downside today. I was waiting for a pull that, you know, just never came. And even Tesla, you know, this is, again, this is why we do second entries experience traders only 1270 if it builds below can flush. So it takes out 1270 puts in a low of 1266 and rallies back. And that's, you know, that 1266 was the second entry for confirmation. Just again, it never got down there. Again, just to show you how crazy that was literally the low of the day. NKLA again destroyed take on the way down 54, forget about 54. This thing went down to 47. NET take on the way up. This is where definitely the biggest move of the day to the downside. Shop, 1027 if it builds below can flush. Shop got hit. I mean, really, really hard. Congratulations to all you guys who caught this thing. So this was the 1027 right here. 1022 was Friday's low. It took out 27, took out 22. I said there's a shot. It gets down to 990. It traded down to 983. Really big move. I mean, really, really big move. But again, considering what's going on the market, you know, pretty, pretty, it really did show a lot of, didn't really show a lot of weakness here. NET again, new highs. Roku again went, you know, went to that 36 area. But again, I thought this would be a bigger move considering still valid. Again, you can see there were literally all shorts that I was put in the channel. AAL. And again, here's shop. And I said, look, any clothes below 990 can get hit. Get it closed 9984. So I think there's lower prices there. Nice smack there. NKLA next support 46. Like I said, 990 might see that today. It actually got down to 984. So again, not the day, you know, definitely not the day that I was looking for, right, as far as value. Again, big, big moves. I was very confused most of the day. And again, I'm not, you know, I'm not embarrassed to say so. And the whole key to this game is to be mentally sharp to, you know, to understand and confirm the price action. Who cares? Who cares if you got it wrong, right? As long as you're not stubborn and you're fighting what you're seeing in front of you, you're going to be fine. So again, being right, it's like put it this way. Like last week, right, when we talked about the inverted hammer and we caught that big sell-off, right, the next day, doesn't make a difference if we were right. We were prepared, right? So going into today's session, based on Friday's, you know, research, I was ready for the rug pull that just never came. So it's very, very important, guys. And I say this all the time, trade the market you have, not the market you want. Stay safe. And the most important part is stay in business. Guys, have a great night, everybody. God bless. And I'll see you all tomorrow. 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.