 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, good evening everybody. Welcome to another edition of the AccessToTrader.com weekend update show, hope everybody is having a beautiful, beautiful weekend, relaxing, all that good stuff, hope everybody had a really good trading week, really, really strong week, especially Friday. We'll talk about the individual pivots in a few minutes. So I really wish everybody, everybody's watching this broadcast, nothing but love and health. That's it. Nothing but love and health. The whole chasing for prosperity, it's great if you get there. That's wonderful. But again, as long as you have your loved ones with you and you're able to make somebody smile, that's what life is worth living for. Again, I don't know about everybody's individual goals and wants and needs in life, but again, if you break down life into the most simplistic forms of enjoyment, it's really easy to be happy. One is most people don't know how to be happy because they always want the things they can't get instead of appreciate the things that they already have. And kind of a segue into the trading aspect of it is, I've said this before because I see a lot of traders, especially new traders that I interact with like StockTwits and Twitter and people are very, very unhappy and they always put so much pressure on themselves to figure out this whole trading thing. It has to happen now or I'm a failure. It has to happen within a year or I'm a failure. If it doesn't happen two years, I'm the worst trade in the world. Number one, and again, I'm directing this to the new traders. If you haven't thought about quitting trading at least 50 times within the first two years, you're not normal. You're not normal. You're not human and you are from a different world. Anything that you're going through, if you're a trader you've been trading a year, two years or even three years, anything you're going through, every single trader on the planet has been professionally trading for a long period of time now will give you a pretty much exact replica of what you're going through plus another 100 things that made their journey exceptional for their own specific path. The sleepless nights, the self-doubts, the depression. Depression is a very, very big key that I went through 2001 to 2003. For those of you guys who don't know what happened in 2001, 2003, I was coming off a pretty good run during the internet craze and again, I've never hit this from anybody. I think most of my trading buddies will say the same thing. We were products of the internet craze. We were. Nobody knew how to trade. We got very, very lucky and that bought us time to figure things out. After 9-11, when unfortunately we had the most horrific terrorist attack in the history of the world, I didn't make a penny from 2001 to 2003, not a penny. I was trading for a hedge fund in South Florida and if you ever meet this person who owned the fund, they would tell you they would absolutely, hands down. There wasn't even a debatable discussion. There wasn't another human being on the planet that potentially could have been a worst most horrific trade of the lines. I was trying to go through the motions that I had some success with during the internet craze, but the problem was after 9-11, because of more significant terroristic threats, the world changed. You couldn't buy stock because you were afraid there was another attack that was imminent. You couldn't short stock because any minute they were going to find Osama bin Laden, they were going to find everybody responsible for the horrific attacks and you were going to have a 2,000 point rally that was going to completely knock you out and I've said this year after year, there was nothing during that time, at least for me, that I could have done to make money. I was a former shelf myself, I was going through depression, my favorite part of the day was going to sleep, my marriage was slowly getting worse and worse, my funds were getting depleted and I had to come to the point of that I'm either going to figure this out or not. Again, fast forward to 2003, Taser came into the world, if all you guys remember Taser, Taser was the first glance of what we saw during the internet craze, a stock that basically closed well, gapped up, closed well, gapped up and if you look at Taser's chart and I think the new symbol is AAOI, we were just talking about this in the live webinar on Friday, from 2003 to like 2005, it was like the best thing ever, I just kept on gapping up every single night and then there was another company called Boom, which actually I actually like this on our watch list for tonight, that kind of made me think about this, there was actually another company Boom, if you look at the weekly charts, actually if you look at the weekly, actually the monthly chart on Boom, you'll notice that it was a massive runner, I mean massive, massive runner for like 2005 for a couple of years, so those two stocks were basically the saving point of my career, it was really the saving point of my career and from that time it kind of bought me time to kind of have that aha moment, to kind of have slowly but surely things to really embrace, embrace information, start appreciating charts, start appreciating technical analysis and slowly but surely it got me to the world of small caps, which at that point nobody was really trading, okay, and I stopped trading small caps around 2012, I used to swing small cap stocks because all these, all these, I don't want to say but all these kids were coming in with a thousand and two thousand, three thousand people, quote unquote, chat room and they used to destroy really, really great setups, the stocks would go up, you know, five, seven cents artificially and then it crashed down 20, 25 cents and then when you're swinging a book you can't really hold on to that, so eventually I had to come to another crossroad in my career to figure out that this doesn't work and how to find something else and at that point I started developing a look at millions of charts, literally millions of charts and I found the common denominator what slowly surely became what we know in front of us are the pivots and that's kind of what I've been trading for the last seven years, so if you're a new trader right now, okay, and I know we've been covering this over and over again for weeks and, you know, you could be trading three, four, five years but again, you're, you know, consistently consuming bad information, you're, you're self-sabotaging yourself, it's just, it's just the reality, at least back then, right, at least back then when we were trading on, you know, we was all sitting on a trading desk, whether it was generic, when it was Spectrum, Schoenfeld, all these trading desk, whatever trading desk you were on, at least you had that intimate one-on-one relationship with guys that potentially could be really good assets for your development, now unfortunately you have so much information but 99% of the information is completely irrelevant, it's completely relevant, it's almost downright stupid and most traders are putting themselves in a situation that you have to dig through really a ton of septic tanks to really find, you know, that one, you know, one little acorn of gold, that one little acorn of pieces of good information that you could build your trading career and the most amazing part, the most ironic part is now we're in a world of so much fast information compared to back then when I started, which we basically, the only information came from the person to the left and to the right of you but right now it's actually more difficult because everything on social media is being sensationalized to the point of and it's making you feel that if you don't develop as a professional traders in social media's eyes in the first three to six months, you're a complete failure and we keep on seeing over and over again, traders just email me non-stop, I have nothing to do with the daily webinar, I have nothing to do with any correspondence that I have on a daily basis talking about I can't take it anymore, okay, I don't know how much more I can do and the one thing that I will tell you is it's going to sound harsh, okay, it's really going to sound harsh but in a weird way nobody cares, okay, in a weird way nobody cares because every single trader has gone through what you've gone through, okay, every single trader and we're still going through it. I just literally tweeted a couple hours ago that I'm a floor trader just like everybody else, I have my self-doubts, okay, not all the time but I have my self-doubts, I do make emotional mistakes, okay, I am subconsciously afraid, okay, you could, again, you could talk all you want, the most, the biggest, right, the biggest, the most aggressive alpha male, alpha female, okay, will always have a soft spot in their subconscious that will have a soft doubt because, again, we're all human beings, we all bleed the same, we all cry the same, we all laugh the same, so we all go through the same cycles as developing traders and the one thing that no developing trader wants to admit is that whatever they're doing is wrong, okay, they could be doing the same thing over and over again, two, three, four, five years, not getting any results literally in the same position as they were when they started but they do not want to admit themselves and, you know, they will not look themselves in the mirror and say to themselves, well, maybe there's a better way, right, maybe there's a better way, they're so ego driven, they're so stubborn, they're so afraid of the unknown, okay, they so lack of complete guidance that they refuse to ask help, they refuse to ask help and slowly but surely, okay, their process or lack thereof is going to deplete your funds, it's going to deplete your mental equity, okay, and eventually it's going to brush you out the door and make you a statistic and I want you guys to understand this and, again, specifically trade and talking to the new trader, okay, there's nothing that you've gone through that we haven't gone through, okay, any trader that you respect, look up to, converse have any type of relationship with whether it's in the virtual world or it's in the real world, every single trader has walked the fire, walked through the fire, have put their feet through the fire, have pissed blood, okay, have thought about quitting 50 times a year, okay, 50 times a year, 50 times a day, 50 times a month, but the most important part and the difference between, right, difference between a new trader and somebody else, you've got to fight through, okay, again, this business is relentless, this business is absolutely relentless, it wants to detach you from your money, it wants to make your statistic, the only way you can fight through this, number one, you have to be mentally tough, you have to be mentally tough and you have to take whatever way you're trading, whatever strategies you have, whatever process you have, you have to look at yourself in the mirror and say, it's just not working, it's just not working, I have to give myself every chance in the world to succeed, but if I'm trading, if I continue to trade in a fashion that I can't make money, right, don't you owe it to yourself, right, don't you really owe it to yourself to figure out a way that there's another way, right, there's an actually another way that you can possibly succeed, again, Baskin Robbins has 31 flavors, you might not like chocolate, you might not like vanilla, hell, you might not like rainbow sprinklers, there's something out there that eventually you're going to like that you're going to be comfortable with, the only question is, are you going to let the market defeat you mentally? Okay, it's okay, okay, it's okay to lose, okay, it's okay to lose, the question is, are you going to let the market mentally defeat you? Are you going to let your mental equity burn out before the light bulb goes on? And again, the easiest thing to do in this, in this world, in this business, is the easiest thing is to get into this business, the easiest thing is to quit this business, and the hardest thing to do is to get back in, because again, you have so many mental scores subconsciously that you're afraid to continue to do the same things and you will never make that second leap into trading. So, new traders, I know it's hard, it's the toughest business in the world, and anybody who's been trading, forget about the 20 that I'm in, anybody who's been trading for at least seven to 10 years, they will tell you, okay, they will tell you that their really big moment of clarity came in after year six, after year seven, after year eight, okay, this isn't, you know, this isn't social media, you've got to get the social media mentality out of your heads that you can trade from anywhere in the world with stupid wildfire connection on a beach sipping a tree, no you can't, okay, enough of these stories, no you can't, no professional trader does that, nobody takes seriously in the world does that, social media, yes, phenomenal, a million, a million 22 year old kids are all on the beach, you guys are fantastic, fantastic, and I wish you the best, but what you're doing is not trading, okay, what you're doing is not trading, you're all you're doing is putting extra pressure on legitimate people who want to, you know, who want to trade for a living, again, whether they'll succeed or whether they fail, you have to give them at least a lifeline to try properly, and again, this is the time, if you're trading two, three, four years and you're not getting anywhere, guys, it has to be the time for self reflection, again, how much longer can you continuously do the same thing, right, over and over again, and try to get different results, it just doesn't make sense, so I'm hoping you guys just really listen to me, don't put out of pressure, everybody develops at a different stage in their career, I know if you have a magical moment of clarity in developing the first year, fantastic, if you're developing year three, fantastic, but at least do everything possible, whether it's charting, reading, whatever it is, whatever it possibly needs to take to put yourself in a situation and buy yourself time before your, you know, before your hourglass, before your lifeline, before your chips get depleted and all your mental equity gone, so I wish you guys an incredible amount of joy and love and luck in your trading journey, but at some point you have to be, you have to take control of your actions and make sure that you are in control of what you're doing, so let's talk about the market, again, nothing materialistically has changed, again, the market, the market is just going to grind to Labor Day, it's just going to grind to Labor Day, there is absolutely no selling pressure unless we get a materialistic missile, nuclear war, God knows, something God forbid, unless we get something God forbid materialistic news, we're going to grind up, we've been saying this for week after week after week, there is no selling pressure because there's nobody around, there's no new materialistic facts, they're going to wake people up from their vacation in the Hamptons and the shore, anywhere, right, anywhere in the world and say, oh my God, I have to sell my stock, sellers are comfortable at these levels, buyers are on vacation, most of the days you are going to get modest to tight ranges, Friday was a complete freak show, we'll talk about this, what happened Friday, one of the really most aggressive trading days of the year, which is phenomenal, absolutely phenomenal, but the most important part is you can't put yourself in a position to try to trick the market, if you feel the market is overboard, there's no such thing as overboard, okay, we're all time highs, we're probably going to grind to Labor Day, it's just the reality, and when people start really flowing back through vacation, right, from vacation because school starts in September, especially for the people on the East Coast, then you're probably going to see the true nature of the market, until then, you know, don't make macro opinions, it's just not worth it, you know, if all you guys who believe that the market should go to zero, right, just trade what's in front of you, individual setups are the key, your process is your lifeline, you don't need to guess, you don't need to be intelligent, you don't need to be smart, you just can't be the dumbest person on the planet, you can't be the, again, you don't need to be the best trade in the world, you just can't be the absolute worst, so, again, all time highs, China on, China off, again, nobody cares, job's good, job's bad, nobody cares, right, nobody cares, nobody cares, we are grinding higher, so make sure, and especially in a market like this, I say this every single day in a live webinar, when you have a grinding market like this, okay, and there's aggressive buying every single day, every single day, it might not be the whole macro market, but you'll see stocks over and over again, have massive, massive moves like BYND, now BYND was, it's absolutely phenomenal, it's absolutely phenomenal for you guys who just joined us once a week here, we've been in this damn thing from the 55 area all the way to 75, literally the whole week, literally the whole week, and then Friday was a beautiful, beautiful, beautiful short, not a huge move, but a beautiful short to the downside, but again, when you have aggressive buyers like this and more shorts and more shorts start to develop, and this thing, and again, I said this every single week, this BYND, when this thing finally becomes shortable, like really, really shortable, I know it's very, very tough to borrow shares, I know IB had shares in a few other places, but when this thing becomes shortable and more shorts are trapped, this thing, mark my words, I think I could be off, but this thing will be the second coming with Tesla, I'm telling you, I hated stock, right, I hated stock, it's going to go to zero, it's going to go to 200, this will be at least potentially will be the next Tesla, this will potentially be the next Tesla trading vehicle, again, these stocks do not come once a year, when they come, they come for a really good two, three year run, and this potentially could be one of them, so again, nothing really to talk about macro-wise, like my mom said, no news is good news, let's talk about Friday, okay, let's talk about Friday, again, folks, for all you guys in the live Twitter feed or in the stock Twitter feed, again, you guys will know, there is no cherry picking, will you guys see me tweeting, this is it, I mean, these are the pivots, we don't remove pivots, we have 250 on the Twitter feed, another 75 on the stock Twitter feed, and these guys won't tell you, we don't cherry pick these things, these are the pivots, and Friday was probably, if what I remember, probably one of the most aggressive sessions we saw in beta for a very, very long time, expansion channels, aggressive channels, aggressive volume, very little hiccups, okay, just an incredibly aggressive day, and for all you guys who caught this day, congratulations, if you're a new trader and you hesitated and you missed these things, it's normal, okay, it's normal, remember, your brain cannot automatically adjust to how fast and aggressive the price action is when money is on the line, okay, that's why the whole theory of paper trading is irrelevant, okay, it's completely irrelevant, is a complete waste of time, when you're a brand new trader, you cannot, and I repeat this, you cannot convince yourself, well your mind doesn't work that fast, that if you're seeing Tesla go from 341, 342, 343, you're mentally not used to the price action, you're mentally used to, well you buy Intel at whatever price it is, it sits in a three set range, 10 set range for three, four hours, these stocks are aggressive for a reason, the arbitrage comes in, the volume kicks in for a reason, there's plenty of interest that we call the pivots, or at least in a special way that I've created this process, that once they get confirmed, there's an arbitrage there, you guys see it, I mean especially you guys on the Twitter feed, you guys see this really, really quickly, obviously people in live webinars have seen this every single day, but once these things trigger and they confirm the proper way, you know, they're rocket launches, so if you are a newer trader, again, it's going to take time, you have to let your brain catch up to the price action, and over time, and that's what, you know, that's what trading is, it's buying time, over time everything will start slowing down, the game slows down, and next thing you know, it really starts to click in a nice way, so let's talk about the pivots, right guys, so I was literally in Netflix short and Tesla long at the same time, and I'm telling you as the day is long, I probably lost five years of my life, for all you guys who know, especially trading prior to 10 o'clock, these things are so aggressive, that you are burning so much mental equity at one time, that it's almost overbearing, and I was literally short Netflix and long Tesla at the same time, and I needed to see two results, and for all you guys in the live webinar, for the five, seven minutes before I made my first sales on Tesla, I made my first cover on Netflix, I was sitting there literally, if I soiled all over myself, would probably be the truth, I literally sat there, my brain froze, and I literally sat there, no, because it does take so much effort to really, you know, trade these things properly, but when you have two all at the same time in two different directions, it's absolutely overwhelming, so let's talk about the pivots, Netflix every single day has been rejected to 385, 385, 385, and we talked about this, that 377.40, 377 for aggressive downside, earnings next week for just the trade, and here is the pivot, here is the pivot on Netflix, here is the 77.40, right, here's the 77.40 right here, and once it broke it, it went down to 76, went down to 76, it spiked back up roughly to about 66 and change, and once it confirmed the 66, went all the way down to 372 and change, just really, really good trade, I was pretty happy about it, NVIDIA, I miss NVIDIA because again, I was in, literally I miss NVIDIA and Boeing because I was in Tesla and Netflix, so NVIDIA, here is NVIDIA, 168 needs to build, right, here's the 68, right, 168 needs to build, just absolutely exploded, went to 70.5, Boeing, okay, Boeing, 160 needs to build for flow, here was Boeing, here was a 60 minute view on Boeing, right, here's why we said 160, this whole channel right here was 160, right, excuse me, 360, 359, 58, 359, 70, so 360 build on Boeing and just Boeing went nuts, Boeing went absolutely nuts, went all the way up to 366 and change, here was Tesla, I got long, I got long at 42, my highest sale was 43, 4360s before the stock came in and then later the stock ran to like 45, ZM, ZM, I mean just a big move, ZM needs to reclaim 93, it got upgraded, no, 9350 is a little bit of a supply, so it really needs to get above that 93 to establish a strong base and ZM, again, here was ZM, here was the 93, right, here was a sneaky pivot 93, here was the 9350 and the stock went to about 95, again good job for you guys who caught that as well, BYND, again we talked about on the way up and BYND, I didn't have a locate for this thing, so for all you guys did congratulations, again not the biggest trade in the world but I said look there's measure potential 164, 165, not every single trade needs to be this marvelous majestic, you know, movie event, sometimes just good cash flow, 67 if it builds below it can flush, here was BYND, right, here was BYND, right here is a 60, oh excuse me, here was a 67 right here, right, 167 is low here, 167 is low here, wants to start building below 67, went down to 64.75, again 64.75, measured potential and Amazon didn't confirm but I like Amazon, okay, Amazon I think Prime starts, Prime Day starts on the 15, okay, it starts on the 15th, here's two levels, I want to kind of start off giving you guys some ideas to watch for Monday, here's so much, you know, here's where I think the stock needs to reclaim to wake up, if we get it down open in Amazon, this 217 area I think it needs to build and let me show you guys why, so here's Amazon, right, here's Amazon, okay, this is the highest candle into supply, this is what we call the sneaky pivot and if only you guys who are obviously in the live webinar or on the Twitter feed understand what a sneaky pivot is because again you've watched the four-hour workshop but if you guys see the top of this channel here is 217 and this is now higher than this lowest Bollinger band that's coming up which is supply and again if you believe in the theory stocks trade from supply to supply and demand and demand, if Amazon starts reclaiming 217 you do have room all the way up to the 240 level, there's nothing in between 217 and 240 that will give it any type of resistance, so keep an eye on you guys, for you guys who are trading on Amazon watch the build 217, 218 for the next leg up, I like Tesla, I think Tesla goes higher, again it finally broke, it finally broke above the pre-market high or after market high of Tesla on that PR with the whole delivery, any build over 245 is bullish, if you look at the daily chart, yeah it potentially could get to like 248, 250 and if it really gets strong in the next couple of days who knows, maybe gets to the 260 area, so keep an eye on that, there was a call buyer earlier in the week who bet $6.7 million, I believe it was on the August 260 calls, please double check that but if my recollection is right there was a big buyer there so it could extend into the 260 level obviously in the course of time, let me give you guys some other ideas that I kind of like here, let me see what else I want to want to share with you guys, oh speaking of boom right, so I like boom, I think boom looks good, it got rejected on the 50-day moving average, if they could just reclaim this 77 area, you do have room to 69 and change 70 that looks good, Twitter actually looks pretty good, okay, Twitter looks good as well, watch Twitter as well, if they could reclaim, you know if they could reclaim like 3820 because you can see the linear regression line here is 3818, if they could start reclaiming on a close 3820 that can be good as well, I still like ZM, I didn't like the way they sold it off but I still like it, I think if we could reclaim 95 looks pretty good and check out this little stock, check out this little stock, BCOV looks interesting, Beacon Roofing gapped up here, if it starts reclaiming the $11 area, again I don't think it's going to be a big big trade, before you guys who are swinging stocks, that looks pretty decent and PRVB, trades a little bit thinner, okay, trades a little bit thinner but you guys can see it's coming out of a channel here, if they could start reclaiming you know 1210, 1220, you could possibly get an initial move to 1270, again this is something that I want, I want to trade probably not, again my goal game is beta but again a chart is a chart is a chart, the faster you embrace technical analysis the better, the faster you start to stop feeling sorry for yourself, the better and I'm telling you new traders is right before we log off here and enjoy the rest of our weekend festivities, I'm telling you, okay if you give it enough time and you stop wasting time with an invalid approach or invalid process and just really have that moment of clarity with yourself, look at yourself in the mirror and say look there's a better way, again it doesn't have to be mine, okay it doesn't have to be mine, as long as you have yourself, give yourself an opportunity, they just really believe that there's an alternative to what you're doing and things actually work then at least you are extending your shelf life of possibly being a professional trader, so guys God bless everybody, again new traders don't put a lot of pressure in your time, when your time comes it will come, okay when it does come you'll really appreciate all the struggles, all the sleepless nights, all the self-doubts, all the walking across the fire and it really will be sweet when you finally get to that point that you really are proud of yourself and you really feel a really good energy shift that you are finally in control of your trading, guys God bless everybody, I wish you the best, God's help us see you all in the field no matter what you take, 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